Trump is meeting with an ex-bank CEO who wants to abolish the US Federal Reserve
Bob Bryan
Nov 29, 2016, 6:45 AM
Picture: Getty Images
As President-elects Donald Trumps transition rolls on, more and more attention is being paid to possible selections for a variety of high ranking positions, and meetings that might help decide these appointments.
On Monday, Trump will meet with John Allison, the former CEO of the Winston-Salem, NC-based bank BB&T and former CEO of the conservative think tank The Cato Institute.
While it is unclear what Allison is being considered for, there have been reports that he is being considered for the Chair of the Securities and Exchange Commission, Treasury Secretary, or a spot as the Federal Reserve Governor of Oversight.
The last possible appointment is interesting given Trumps statements on the campaign trail have questioned the future of the Federal Reserves political independence. Allison actually takes that rhetoric a step further. While running the The Cato Institute, Allison wrote a paper in support of abolishing the Fed altogether.
I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed, wrote Allison in a 2014 article for the Cato Journal, a publication of the Institute.
Allison said in the article that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system.
When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult, wrote Allison. Markets do form bubbles, but the Fed makes them worse.
Allison, in the same paper, also suggested that the governments practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by a market standard such as gold.
Allison also argued for higher capital reserves of up to 20% of assets at banks. On the other hand, he also argued that the government should repeal three of the broadest banking regulations.
We should raise capital standards, but it is even more important to eliminate burdensome regulations including Dodd-Frank, the Community Reinvestment Act, and Truth in Lending, wrote Allison. About 25% of a banks personnel cost relates to regulations. Banks cannot pay the regulatory costs and have high capital standards.
This is similar to Trumps desire to roll back regulation including Dodd-Frank on financial institutions, though he has back-tracked somewhat on those promises.
It is unclear if any of Allisons policy views will ultimately become a part of Trumps plan going forward, but given the unconventional nature of his ideas, the meeting is notable.
Poster Comment:
END THE FED!
#1: noone222 To: BTP Holdings (#0)
Congress has been complicit with this largest of all frauds for over 100 years.
noone222 posted on 2019-12-11 05:48:40 Reply Private Reply
#2: BTP Holdings To: noone222 (#1)
I agree completely.
It is too bad the scoundrels who brought us The Creature from Jekyll Island are no longer around, including Woodrow Wilson. ;)
BTP Holdings posted on 2019-12-11 07:03:05 Reply Private Reply
#3: Lod To: noone222, BTP, 4 (#1)
Lod posted on 2019-12-11 07:08:10 Reply Private Reply
#4: Horse To: BTP Holdings (#0)
How And Why An American Military Coup Could Save The World
https://vidrebel.wordpress.com/2013/04/25/how-and-why-an-american-military-coup-could-save-the-world/
Horse posted on 2019-12-11 07:45:34 Reply Private Reply
#5: Cynicom To: Lod (#3)
Rep. Lindbergh paid for trying to warn about it. Over 100 years ago.
Cynicom posted on 2019-12-11 07:48:00 Reply Private Reply
#6: Lod To: Cynicom (#5)
That would be a nice Christmas present for US all.
Get on this one, Santa.
Lod posted on 2019-12-11 07:59:47 Reply Private Reply
#7: Cynicom To: Lod (#6)
Cynicom posted on 2019-12-11 08:23:03 Reply Private Reply
#8: Lod To: Cynicom, 4 (#7)
Lod posted on 2019-12-11 09:18:22 Reply Private Reply
#9: AllTheKings'HorsesWontDoIt To: noone222 (#1)
Agreed.
Ponzi Scheme
"...Unfortunately our leaders represent our enemies and continue to aid and abet in the crime of keeping us as indenture servants. If they truly represented "WE THE PEOPLE", they would mint the coin, pay off the unlawful debt, and free us from the unseen hands of the MONEY-CHANGERS. However, there is a problem using this method, this method would leave the MONEY-CHANGERS with $5 trillion in their pockets.
Fortunately, there are two other solutions to putting an end to this thievery. The first solution is found in Article 30 of the Federal Reserve Act. According to Article 30, Congress can buy-back the Federal Reserve and all their assets for the original paid-in capital of $144 million. Utilizing this clause would leave the stock-holders with what they invested to begin with, a $144 million.
Speaking of the Federal Reserve System, Justice of the Peace, Martin Mahoney said, "The law leaves wrongdoers where it finds them." Article 30 of the Federal Reserve Act does just that!
However, the best solution to putting an end to this giant hoax would be for Congress declare the Federal Reserve unconstitutional and null and void. Such an Act of Congress would return all their ill-gotten gains back to the U.S. Treasury and the MONEY-CHANGERS would be left empty handed. This solution will be given later in the book..."
www.maxexchange.com/ybj/chapter3.htm
Micah 4:13 Arise and thresh, O daughter of Zion: for I will make thine horn iron, and I will make thy hoofs brass: and thou shalt beat in pieces many people: and I will consecrate their [ill-gotten] gain unto the LORD, and their substance unto the Lord of the whole earth.
biblehub.com/micah/4-13.htm
AllTheKings'HorsesWontDoIt posted on 2019-12-11 12:03:33 Reply Private Reply
#10: noone222 To: AllTheKings'HorsesWontDoIt (#9)
I think a major and immediate overhaul of that system would cause panic both for the FED and the people. Also, the FED does provide a vast clearing house for trillions of transactions that will remain necessary irrespective of the nature of the currency.
Bifurcation of the monetary system which separated commercial transactions from the operation of common functions relative to the daily needs of individuals and families would be a good start. If necessary two kinds of currency should be created one for COMMERCE and one for routine non-commercial dealings. This system would allow COMMERCIAL interests and transactions to carry on [under commercial law] as they have while separating the private transactions of people free from the attachment of commercial law and free to enjoy the benefits of the common law, the Constitution, and liberty.
If necessary, the Treasury could begin producing the people's (interest/tax-free) currency while the FED could be responsible for the COMMERCIAL instruments, and all things associated just as they are now and carry on as the clearinghouse for both systems.
While paying interest to international bankers is ludicrous, the more damaging effect caused by the implementation of Commercial Law is that it that usurps and subverts the Constitution and thereby our freedom, which also relegates the sovereignty of the people to the trash bin making them slaves to ridiculous and perpetual lawmaking changes to further enslave them.
It seems to me that most people of every station in life become accustomed to accepting things without questioning or wishing to take the time to research the consequences of going along to get along. In America today we can observe the consequences of letting others to do our thinking for us. Look around and witness the obesity, gluttony, deviance, wars, suicides, school shootings, and continual negative events that were almost unheard of just a few decades ago.
noone222 posted on 2019-12-13 06:30:39 Reply Private Reply