Elon Musk, a key Trump backer who is expected to have considerable sway in helping shape Trump’s policies, included a “100” emoji while resharing Republican Sen. Mike Lee of Utah’s post on X calling for abolishing the Fed.
I… didn’t realize he was actually interested in destroying the value of the dollar… this is a terrible idea.
These clowns think they’re the smartest when in fact they’re just a bunch of narcissistic morons. It’s going to be wild.
Elon Musk is a case study in Dunning Kruger. Gifted child boy wonder is here to broker a peace deal and receive the validation he’s been trained to seek.
He has a rudimentary understanding of how yields affect bond prices and he’s rolling up his sleeves, everyone duck
The dude can’t even run his own companies, Tesla and SpaceX succeeded in spite of him which is a hell of a lot more impressive than anything Elon has done
An unabridged list of Musk’s accomplishments:
Did not dilute and now has a 20% stake in a company with a $1tn market cap.
Conned Compaq out of $300m right before the .com bubble burst
Gotta be fair
How else do you get people on your shitty crypto pyramid scheme
Reminds me of our very own Liz Truss. She’s still somehow convinced she’s an economic genius.
I mean, she’s certainly cornered the lettuce joke market
At least UK institutions were intact enough to stop her before she could completely wreck the economy. The Americans (and all of us by association) will have no such luck.
Dems need a crash history course in republican obstructionism ca 1992 through 2016
Can they do that without the house or senate?
Worse yet, Sen. Lee’s recent pitch is “get rid of the FED and then… well we’ll just figure it out after that.”
Like literally, the main person behind this has zero clue on what they would do after getting rid of the FED. So not only would they in a single sweep up end the entire US dollar and all the global markets that have built around it. They have absolutely zero plan for what comes next.
Like you could not pitch a “let’s fuck everything for the foreseeable future” plan any more than Senator Lee’s current idea of how to “fix” things. But I mean dude clerked for Alito in the third circuit, so I mean, shit doesn’t fall far from the asshole.
At this point I can’t help but wonder if a few foreign agents befriended him on Twitter and are now in an office competition to see who can convince him to do the dumbest thing possible.
He’s been talking regularly with Putin for months now.
He’s a Russian stooge.
He’s interested in becoming a trillionaire by swindling the entire country with a dogecoin pump-and-dump endorsed by the government itself.
Elon musk knows as much about global money supply as my mom.
Fuck these articles that keep boosting his credibility.
This is how an illegal immigrant from South Africa who failed his physics degree became the richest and most powerful man in the world .
Can this please go in the USA news please? I know elon tweeting an emoji might influence world politics but I’d love to have the ability to block it off without blocking world politics.
But on the campaign trail, Trump floated requiring Fed officials to consult with him on interest rate decisions. That could lead to pressure on Fed officials to keep rates lower to satisfy Trump’s wishes, which in turn could reignite inflation.
Elon Musk’s involvement is click-baity from the content of the article. Primarily it is about Donald Trump wanting the Federal Reserve Bank to consult with him before changing the interest rate. Abolishing the fed is probably hyperbole.
It’s unclear if Trump has the legal authority to overhaul the Fed’s independence on his own, let alone at all, or remove a Fed appointee before their term expires. On the latter, Powell, a lawyer himself, made his view abundantly clear when asked by a reporter at last week’s press conference after the Fed’s two-day monetary policy meeting. “Not permitted under the law,” he briskly responded.
Trump will enter the White House with a republican controlled congress and judiciary. A simple majority in congress is all that’s needed to repeal the Federal Reserve Act, though without a replacement lined up, that alone would be enough to destroy our economy so thoroughly it could lead to partial societal collapse; possibly on a global scale.
As do a lot of people, even with different ideas on whose control of what money and stuff.
Richie Rich as Iron Man by Xoebbels. Like in that movie. With the theatre. And dreamy Brad Pitt.
Well considering how good he was at radically reshaping his own torso he may be just the man for the job.
The average CEO supposedly works 60 hour a week. Elon is in charge of three companies. That is 180 hours a week.
He also has twelve children he loves and takes care of. Let’s say he gives each kiddo a generous 10 hours each so that adds 120 hours to his week.
He also spends a lot of time doing drugs and twatting on Twitter. He spends about 40 hours on these tasks.
Now he is going to be helping run the US government and promises to work another 80 hours a week.
Don’t forget he is a lover and spends at least 20 hours a week trying to fuck the women who work for him.
Let’s see that adds up to about 340 hours a week! And that is not even counting him sleeping, eating, or shitting. What an amazing man he is! Imagine if you had that much time to do all that.
So… tell me in detail how the US economy is going to cave in, taking the global economy along with it, thus causing the emergence of global conflicts.
DO IT!
Seize The Fed and abolish all Federal taxes!
The Federal Government does not need tax revenue to provide services. Federal taxes just delete money in a targeted way. When the Federal Government wants to buy something, it creates the currency it spends. The balance of interest rates and Federal taxes determines the speed at which the overall supply of currency grows - either lever can be pulled to moderate inflation. Taxes make people poorer, reducing demand. High interest rates slow the growth of businesses that need to take out loans from a bank. With lower Federal taxes putting more money in people’s pockets, successful businesses will be less dependent on bank loans: win-win.
Although, the clowns of the Republican circus would probably pull the wrong lever, reducing interest rates, which would necessitate increasing either taxes or inflation, leading to stagflation and recession.
I kinda get what you are saying, are there examples of this system being implemented? Seems like it could spiral out of control if not VERY tightly regulated/maintained.
