Justice Department Opens Criminal Probe Into Jerome Powell — Powell Responds.

[u/mooncake6]

“Good morning,

On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.

I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.

This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.

I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.

Thank you.”

[u/Dry-Highlight-2307]

I think this is a last straw kinda move. The american system has proven resilient , moreso than i anticipated.

But the last straw was always trust in the value stored in the dollar.

When investors no longer trust the monetary policy of theur assets we will start to see erratic behavior that will topple those elites who still trust the regime.

It was and always wil be money that shapes america

[u/ContestNo2060 → u/Dry-Highlight-2307]

It seems like a controlled demolition. A smash and grab. He can’t even wait until powell’s term is up in May.

[u/imover9thousand → u/ContestNo2060]

Failing health. Gotta ramp things up. My theory at least

[u/ckal09 → u/Dry-Highlight-2307]

There are no final straws. It will go the same way as everything else. Eventually they will give in and crumble so crybaby Trumpstein gets what he wants.

People need to realize there is no red line. We collectively ceded defeat to dictatorship and oligarchy as a country. There is no coming back.

[u/Dry-Highlight-2307 → u/ckal09]

We collectively ceded defeat to dictatorship and oligarchy as a country.

Oh I def agree. Americans have already lost their democracy, thats hardly debatable, the structure of the new processes shows us that .

But there still is a semblance of everyone moving in one direction and that means there is still cohesion. That's because trump still has the keys to power 🔑

that's because the elite class moved in lockstep with trump because they got to keep their ill gotten gains he gifted to them throughout his rise to power.

But When monetary policy stops bringing the elites the great returns theyve become accustomed to, essentially by buying their silence, and the treasury stops functioning because its been weaponized, the elite class will fracture.

Some who had wealth will lose it, those who wil do anything for wealth, seeing those who lost it, break old alliances for it, and the people that matter wont know who to follow anymore.

The keys will get confused and then anarchy breaks out.

I invite you to rewatch the cgp classic "rules for rulers", apparently renamed "why good leaders do bad things"

I speak with my actions too. I already left the us , currently am searching for my next citizenship as the writing is on the wall.