Inflation Nightmare: What Happens if Politicians Control the Fed

How do you like the number 80 or specifically 80%? Well, guess what? If you're an American, that's what you might get in terms of your inflation, if history is to be the judge. Just a few years ago, Turkey, with its right wing autocrat took control of their version of the Federal Reserve. The dictator of that country started appointing his henchmen to run their currencies and their Federal reserve, they got 80% inflation. That's what happens when a country loses the independence of its banking system. And that's what's happening in the United States, in case you haven't heard. The recent news is that President Trump has announced that he is firing Lisa Cook, a governor of the Federal Reserve. Now, you can't legally do that, but as we've all seen in the last six months, what is constitutional, what is legal, bears no weight whatsoever on what President Trump does or says he's doing. And quite often the courts just fall down and say, whatever you want, Master. The Congress that's supposed to provide a check on the President says, whatever you want, master. Just don't say anything mean about us on social media. We're seeing it again. Okay, so what's the bottom line? If you and I and everyone else, if we sort of sit back and say, we, well, let's just give up, let's let this president fire anyone he wants in the Federal Reserve and put his henchmen there. Don't be surprised if we get 80% inflation the way Turkey did with its right wing dictator, ended independence of its version of the Fed. Let's dig a little deeper here. This is troubling. At many levels now, for decades, America's conservatives, Republicans, right wings, libertarians warned us, they warn all of America, that we are getting to the point where government is getting stronger. You're going to have a government that tries to influence every single aspect of life, every university, every cultural institution, trying to take over the media, trying to take over private sector businesses. The socialism is creeping and no one will be safe, no individual will be safe from government oversight. Because whoever's the head of that socialist government can say, oh, I don't like that guy. I don't send the secret police to get them, let's investigate them. The old axiom is a police officer could say, give me 10 minutes to follow someone on the road. I'll give you a good reason to pull them over, a stop, a headlight, something they did wrong. Well, that's what we're seeing out of Washington these days, and it is troubling. Let's dig a little deeper. The irony, of course, is the very same conservatives, right wingers, MAGA people who've been warning us of this socialistic takeover of every institution in the country where no individual is safe from big government coming in and shoring their lives, they're the ones supporting this guy Trump. And it's absolutely bat poop insane, and it's absolutely an atrocity. We are seeing the foundations of our democracy melt away in front of our very eyes. Now, the alleged crimes of Lisa Kluck is that she supposedly committed fraud in a mortgage, applying for a mortgage. Now, the idea that Donald Trump and his minions are accusing other people of fraud regarding real estate, I mean, it's kind of like Pol Pot accusing someone else of manslaughter because they left keys in their car and someone took it and got injured. It's that absurd, it's that silly. With Donald Trump for years and years and years and years having been accused and found specifically guilty of lying on so many applications for loans for his real estate properties and overly inflating his prices, and he's committed all sorts of fraud regarding real estate, by any objective measure to say that this Fed governor, Lisa Cook, should be removed. She hasn't been formally accused of a crime. She hasn't been tried. She hasn't been convicted. She hasn't been anything. She has been guilty of one thing. She's been guilty of being a Democrat. Well, three things. Guilty of being a Democrat, guilty of being a woman, and guilty of being black. Now, if you doubt me on that, just ask yourself, how often does Trump come down on anyone who is a white Republican in office right now who does what he says? If you do what he says, you can commit any crime, you can commit any atrocity. You can be the most wildly incompetent person in the world. And Trump will say, you run the Department of Defense. Doesn't matter how many crimes you've committed, how many women you've beaten, it just doesn't matter. If you're with me, you get all the power. You get keys to the kingdom. But if you dare be a member of an opposing political party, out you go. I'm going to use the entire force of the federal government, every agency, the irs, every banking regulatory agency, every mortgage regulatory. We're going to dig, dig, dig, dig until we find something where if you squint the right way, we're gonna say you're a criminal. You have to go. A lot of you are sitting out there saying, well, he didn't come after me. Today. So I'm gonna keep quiet. Well, keep that up. And I think you're gonna find at some point are gonna come after you, you're gonna be seen as insufficiently loyal because let's face it, he came after the liberals. And you said to yourself, I'm not a liberal, I'm gonna be quiet. They came after the progressives. Oh, I'm not a progressive. I'm gonna keep quiet. They came after the Democrats, kicked them out of office. Ah, I'm not a Democrat. I'm not going to worry about that. Then they started coming after people like Chris Christie and John Bolton, card carrying members of the Republican Party, card carrying conservatives. And they used the full force of the government, for example, raiding John Bolton's house, starting investigations against the former head of the FBI. And all for the alleged crime of suggesting the slightest bit of criticism against Dear Leader, the great orange one. These are troubling times indeed, folks. I don't like to be a fear monger, but at some point when enough atrocities are committed and enough pillars of a democratic foundation are chiseled away, the only rational thing is to fear. But then mobilize that to make things better. That's what I'm trying to do right here on Filtered with TJ Walker. Again, this is not a political punditry show. We're trying to analyze communication messages through the aspect of looking at top stories in business news, economic news and culture news. But one of the reasons people don't like authoritarian dictators is they tend to meddle in every aspect of life, every aspect of business, technology, culture. That's been one of the beauties of the United States democratic experiment is we had this idea that, okay, the vast, vast, vast majority of society of capitalism, the market is going to be individually controlled by people outside of the government. That's what made America great. And that idea is under assault, which is why I don't really have much choice other than to comment on what's going on in politics. Because part of what I try to do is help you discern messages. And the message is very clear right now coming out of Washington. If you do not back Dear Leader in every other aspect, full force of the government can come down on you and destroy your life.