In-depth article takes you through the grievances and grudges between Trump and Federal Reserve Chairman Powell ⬇️⬇️ Will Bitcoin face significant bearish news tonight during Powell's speech⁉️
First, let's answer a common question asked by financial and political novices: Shouldn't the Federal Reserve Chairman be subordinate to the U.S. President⁉️ Why are there grievances and grudges here?
First and foremost, the Federal Reserve does not belong to government agencies within the political system of the U.S.; it should be classified as a private organization. The main members consist of executives from major private banking consortiums, a purely private organization, responsible for discussing the upcoming monetary policy with the Treasury and Congress, and coordinating the unified implementation for various banking consortiums.
So here, there is both cooperation with the government and discussions about respective interests between the government and the Federal Reserve.
The simplest example is U.S. Treasury bonds. When the government needs to borrow money, it is the Federal Reserve that coordinates and distributes to the major banks 💰💰
Here you can see that the most direct beneficiary of the U.S. $34 trillion national debt is indeed the Federal Reserve.
When Trump came to power, he proposed the establishment of a Bitcoin national reserve to eliminate the dollar crisis, which essentially means that the $34 trillion debt is definitely unpayable, so let's replace the dollar's role with Bitcoin to eliminate the U.S. debt crisis 🤷♂️
So, who is the most direct victim⁉️ The answer is the Federal Reserve.
Now you understand why Powell casually mentions that the Federal Reserve does not plan to purchase Bitcoin⁉️
So will Powell's speech tonight bring significant bearish news for Bitcoin 📉📉
We shall see ⚠️
$BTC
$ETH
First, let's answer a common question asked by financial and political novices: Shouldn't the Federal Reserve Chairman be subordinate to the U.S. President⁉️ Why are there grievances and grudges here?
First and foremost, the Federal Reserve does not belong to government agencies within the political system of the U.S.; it should be classified as a private organization. The main members consist of executives from major private banking consortiums, a purely private organization, responsible for discussing the upcoming monetary policy with the Treasury and Congress, and coordinating the unified implementation for various banking consortiums.
So here, there is both cooperation with the government and discussions about respective interests between the government and the Federal Reserve.
The simplest example is U.S. Treasury bonds. When the government needs to borrow money, it is the Federal Reserve that coordinates and distributes to the major banks 💰💰
Here you can see that the most direct beneficiary of the U.S. $34 trillion national debt is indeed the Federal Reserve.
When Trump came to power, he proposed the establishment of a Bitcoin national reserve to eliminate the dollar crisis, which essentially means that the $34 trillion debt is definitely unpayable, so let's replace the dollar's role with Bitcoin to eliminate the U.S. debt crisis 🤷♂️
So, who is the most direct victim⁉️ The answer is the Federal Reserve.
Now you understand why Powell casually mentions that the Federal Reserve does not plan to purchase Bitcoin⁉️
So will Powell's speech tonight bring significant bearish news for Bitcoin 📉📉
We shall see ⚠️
$BTC
$ETH