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I stand by this man, and support all he's done to prevent The United States economy from spiraling out of control.

The Federal Reserve is an uncontrollable beast but so far Jerome Powell has been the most capable person at controlling this beast.

While I oppose The Federal Reserve, I am pragmatic, and realistic, centralized banking, fiat, or government issued currencies will probably continue to exist in some form, and in such we should seek to have competent people be in charge of these mechanisms rather than foolish individuals who print money to get themselves out of a bind.

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Discussion

Kevin's Bacon 8mo ago

Oh yeah fiat credit will exist for sure, but not as money that everyone is forced to use. If I am not mistaken, credit, being unbacked by commodities or decentralized difficulties in authorship, requires a central control mechanism to enforce a reasonable monetary policy. Credit tokens will continue to be issued by corporations like the Federal Reserve, which will be kept in check by the options in the market.

Jerome Powell is intelligent and what he is doing is perhaps a necessary evil. It is reasonable management of the piece of shit for what it is. I don't think that makes him a hero or something to emulate. We should not want to have control of a system of destruction such as fiat money except in as much as we would end it and replace it with something else. But he is playing his part admirably.

Kevin's Bacon 8mo ago

So to be clear, I think what Powell is doing is morally wrong, but it might be consequentially better than what any other extant competitor for the position would do, since we can predict what he will do and it is only slowly, moderately crippling the little guys.

The Modern Sovereign 8mo ago

Jerome looking young

Jordan S 8mo ago

I think it’s a photo of him when he started off.

Working for The Federal Reserve has Obama’d him (aged him drastically).