TREASURY SECRETARY WANTS TO DISMANTLE THE FEDERAL RESERVE SYSTEM

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Protect your buying power. Let Noble Gold help you. I want you to call 877-646-5347 and please make sure you tell them that Dave Hodges told you to call. Well, we have a monumental story of great importance. This is a huge red alert, breaking news. We’re cutting in on existing programming. This is really, really big. I discovered in the Wall Street Journal a few days ago that Scott Besant, the treasury secretary, wrote a piece on the Fed and he said, and I quote, the Fed prides itself on having good data and we’re only as good as our data is.

That’s a quote of Jerome Powell. Well, their data sucks. And Powell said, we are going to fundamentally change the Federal Reserve. Oh boy. Here’s what’s led to this. The Fed’s data dependent and their data has been bad consistently and it has. Yes. I maintain the Fed as being political. I don’t think this is an accident. Besant’s taken the high road and saying it’s just incompetence. I think it’s a combination of incompetence, small cup, big cup, trying to hurt Trump. And here’s why I say this. I’ve got precedent for my reasoning. Interest rates, when Joe Biden was in the race and announced and they came up on the first debate, they dropped the interest rates.

Yeah. Without rhyme or reason didn’t peg it to any data change. They said, we’re dropping it to make Biden look better. They did the same thing again about a month before the election with Kamala Harris. Now with Trump and the economic numbers have been much better. They’re not lowering the interest rates and their data is bad. And now we have the proof. If you want to figure what core inflation is, and this is without the increasing gas or food, you have to look at what they call the PP, produced prices. If tariffs are having such a negative effect as the lamestream media is advocating over and over and over, they’re saying that’s true, then you would expect the produced prices for first stop products before they get to you are going to go up and they pass along the cost to you, thus increasing inflation.

Well, that’s not happening that way. It was announced erroneously for July that inflation rate had gone up. And then the Fed had to correct and says, oh, no, no, actually the inflation rates gone down one tenth of a percent. They reported a record increase for the last, oh, I got three years. And then they come along and say, okay, we got corrected data. The producer prices have actually gone down one tenth of a percent. And now they’ve had to revise again again. And this is from the Federal Reserve. That number has decreased to point nine percent, almost a full percentage point, which means this.

Tariffs are having a positive effect on the economy, particularly as it comes to inflation. Now, there’s a multitude of factors why, but at the core of those factors is the fact that foreign countries are bending to the will of Trump and they’re lowering their tariffs on our products, thus increasing our productivity because they don’t want to get into a war of attrition against our monumental economy. When we put all this together, I believe the Fed is not telling the truth. I believe it’s intentional. I don’t believe it’s just incompetence. Trump’s calling Jerome Powell incompetent. If they hadn’t manipulated interest rates for Biden and then Kamala Harris on a downward track and won’t do it now, despite overwhelming evidence they should, then I look at willful, purposeful behavior.

Now, Besant, the Secretary of Treasury, went on to say something even bigger. We need to dismantle the incompetency. This is signaling they want to get rid of the Fed, they being the Trump administration. This looks like it is now the policy. Why else would Besant put this in, of all places, the liberal run Wall Street Journal? Some would say this is a declaration of war, some would say he’s drawing a line in the sand. You can interpret this any way you want. But the bottom line is the economy is getting better, the interest rates are being kept high, and they shouldn’t be.

Now, why would they be? Because the left can’t admit that Donald Trump is actually doing something right. Everything that Trump says and does is criticized. Everything. And there’s universal talking points that go out, so if you turn on CNN or MSNBC or ABC or CBS, you hear the same mantra using the same catchphrases over and over. And this includes the violent rhetoric talk as well. That’s another topic for another time. But this is orchestrated against Trump accomplishments in the economy trying to convince people leading up to the midterm that things are really bad. Trump has made it worse.

It’s just horrible. When the peer data says something else. You see, when the jobs report comes out, the inflation report comes out, the producers’ prices come out. That gets headlines. And just like any other news story, an erroneous news story is on page one, the retraction is on page 77 in the far right corner. That’s what’s going on here. The economy is making steady progress. There are challenges ahead, there’s no doubt. But the Federal Reserve, as people have said for years, the creature from Jekyll Island, the book by G. Edward Griffin, Ron Paul’s great work when he was the House Chair of the Banking Committee, they’ve all said the same thing.

Fed’s got to go. I think we need to up the rhetoric from us. Fed has to go. Interest rates should be down. Millions of Americans should be able to afford to buy homes. Oh, wait a minute. Wait a minute. If we lower the interest rates to say 4%, millions of Americans could now buy homes. But what’s the trend with private equity investment? They want to build rental homes. We’ve covered this. 30% of all homes being built today are built specifically and exclusively for renters. Interest rates promote this. High interest rates. I think I’ve made my point.

I’m Dave Hodges. This is The Common Sense Show. [tr:trw].