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Trump’s Central Bank Theatrics Expose the Fed’s Myth of Independence
Trump’s latest clash with the Federal Reserve raises questions about whether the Fed has ever truly been independent.
The Fed’s Walls Were Never Fortified — Only Pretended
The Federal Reserve has been a contentious fixture in U.S. history since its creation in 1913. While often described as “independent,” the Fed was deliberately built with a public-private framework, allowing for both banker control and presidential influence.
From appointments and dismissals to public criticism, U.S. presidents have long wielded pressure on the central bank—shaping monetary policy to fit political needs.
Wilson’s Hand in Creation
President Woodrow Wilson championed the Federal Reserve Act of 1913, signed into law on December 23 of that year. While its stated goal was to curb recurring financial panics, Wilson ensured presidential appointees sat on the Fed board, embedding political influence at its core.
At the same time, powerful banking families tied to earlier crises, including the Panic of 1907, played pivotal roles in shaping the Fed’s design. Wilson’s precedent guaranteed that political and banking interests would remain entangled in Fed operations.
Hoover and the Depression Strain
During the Great Depression, President Herbert Hoover pressured the Fed to cut rates to spur recovery. Instead, the Fed raised them—highlighting tensions between presidential demands and central bank policy.
This early clash exposed the fragility of Fed “independence” when presidents pressed for action during crises.
Peak Power — Roosevelt’s Grip on the Fed
Franklin D. Roosevelt expanded presidential influence dramatically. By suspending the gold standard in 1933 and enacting the Banking Acts of 1933 and 1935, FDR consolidated authority over monetary policy.
Throughout the Depression and World War II, the Fed effectively became an arm of the Treasury, pegging interest rates low to cheaply finance massive deficits. This era marked perhaps the height of presidential control over the Fed.
Truman’s Showdown
President Harry Truman clashed with Fed Chair Thomas McCabe in 1951, demanding low rates to finance the Korean War. His pressure forced McCabe’s resignation.
The Treasury-Fed Accord that followed sought to restore independence, but Truman’s victory showed how presidents could still bend monetary policy to wartime needs.
Kennedy and Johnson’s In-House Influence
John F. Kennedy frequently met with Fed Chair William McChesney Martin to press for pro-growth policies in the early 1960s. Lyndon B. Johnson went further, summoning Martin to his Texas ranch in 1965 and berating him for raising rates during Vietnam War spending.
Recordings reveal how Johnson’s personal intimidation influenced short-term Fed decisions—further blurring independence.
Nixon’s Inflation Legacy
Richard Nixon took Fed influence to another level. In 1970, he appointed Arthur Burns as Fed Chair and pressured him to keep rates low ahead of the 1972 election.
Burns complied, but the political pressure helped unleash the inflationary surge of the 1970s—demonstrating the long-term costs of White House meddling.
Trump’s Theatrics Today
Fast forward to today: President Donald Trump’s public pressure on Fed Chair Jerome Powell and his controversial dismissal of Governor Lisa Cook have once again thrust the Fed into political theater.
Critics argue Trump’s tactics risk undermining Fed credibility abroad. But history shows this is hardly new—rather, it’s a continuation of a century-long pattern where presidents bend or break the Fed’s supposed autonomy.
Why This Matters
The Federal Reserve’s “independence” has always been conditional, more myth than reality. From Wilson to FDR, from Truman to Nixon, and now Trump, presidents have consistently shaped Fed policy through pressure, appointments, and outright confrontation.
Trump’s theatrics may look unprecedented, but in truth, they reaffirm a long-standing reality: the Fed’s autonomy is fragile, performative, and ultimately subordinate to political power.
@ Newshounds News™
Source: Bitcoin.com
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What Makes XRP Different From Every Other Cryptocurrency
XRP stands apart in the crowded crypto market by focusing on real-world payments instead of speculation.
A Market Full of Narratives
The cryptocurrency industry has matured dramatically since Bitcoin’s launch. Thousands of assets now compete for attention, from Ethereum’s smart contract platforms to meme tokens and NFTs.
But XRP carved out a unique identity. Unlike most digital currencies, it was designed with a narrow purpose: to make global payments faster, cheaper, and more efficient.
This focus has given XRP adoption not only among traders but also among banks, remittance firms, and payment providers. While most crypto projects remain speculative, XRP has been tested in real settlement systems worldwide.
Pre-Mined Supply and Predictable Release
XRP’s structure differs from Bitcoin and Ethereum, which release coins through mining. At launch in 2012, 100 billion XRP were created in advance. Ripple Labs placed much of this supply in escrow accounts for gradual release.
Supporters say this makes XRP’s circulation transparent and predictable, while critics warn it concentrates control. Either way, the model offers institutions more familiarity than the uncertainty of mined assets.
Fast and Low-Cost Transactions
Transactions on the XRP Ledger settle in 3–5 seconds, compared with Bitcoin’s 10 minutes or Ethereum’s congested minutes. Fees cost only fractions of a cent.
These advantages have been proven in remittance corridors worldwide. Ripple partnerships in Asia, Europe, and Latin America demonstrate how XRP cuts costs and delays in cross-currency payments—advantages few other blockchains can match.
Energy-Efficient Consensus Model
Unlike proof-of-work blockchains, XRP uses a consensus mechanism that avoids mining altogether. Validators agree on transactions without requiring massive electricity consumption.
According to CME data, an XRP transaction consumes just 0.0079 kWh, compared with Bitcoin’s 707 kWh. As institutions increasingly weigh ESG standards, XRP’s green profile stands out.
Purpose-Built for Payments
Bitcoin is “digital gold.” Ethereum is a decentralized app platform. XRP was purpose-built to bridge fiat currencies.
By serving as a liquidity asset, XRP allows banks to move money globally without pre-funded accounts. This saves institutions time and cost, turning XRP into a payments tool rather than just another speculative asset.
Advanced Features on the XRP Ledger
Beyond payments, the XRP Ledger includes a native decentralized exchange (DEX) and built-in asset tokenization. Developers can launch tokens, swap assets, and build applications directly at the protocol level.
This makes the ledger more versatile for financial applications than most other blockchains, while still keeping its payment-first design.
Proven Reliability and Long Track Record
Since 2012, the XRP Ledger has delivered over a decade of continuous uptime. Few blockchains can claim such consistency across multiple bull and bear cycles.
For enterprises considering blockchain, this reliability adds weight alongside innovation. Developers also benefit from XRPL.org’s tools and documentation.
Market Behavior and Independence
XRP shows weaker correlation with Bitcoin and Ethereum than most top assets. Studies suggest XRP’s moves are tied more to adoption and regulatory milestones than broader speculative cycles.
This relative independence makes it attractive for investors seeking diversification in the digital asset space.
Regulatory Clarity and Ripple’s Influence
Ripple Labs has played a unique role in XRP’s adoption, pushing for global licensing and enterprise partnerships. In the U.S., court rulings in 2023–24 declared XRP itself not a security, giving it rare clarity compared with other crypto assets.
Ripple’s advocacy has added legitimacy, giving XRP both a decentralized ledger and a corporate champion—a combination few projects enjoy.
Why This Matters
XRP is different because it wasn’t built to follow hype cycles. Its pre-mined, escrow-controlled supply, fast settlement, low fees, and energy efficiency give it structural advantages. Its track record, enterprise adoption, and regulatory clarity give it credibility.
In a crowded field of speculative cryptocurrencies, XRP’s clarity of purpose—to move money like information: fast, cheap, and borderless—is what makes it stand apart.
@ Newshounds News™
Source: Coindoo
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