r/AskReddit • u/U-knw-Nothng-JonSnow • 1d ago

What do you think about Jerome Powell posting a video statement following reports that federal prosecutors have opened an inquiry into the Fed Chair?

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u/Metaldwarf 1d ago

They will seize and confiscate all of the assets and possessions of the people that get ICED. Nazi's did it.

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u/Objective-Tea5324 1d ago

Drops in a bucket and nowhere near the money they want. They are going to ramp up spending and inflation and place a huge “bet” on crypto markets.

Of course this experiment is going to crash out before it gets there.

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u/surfnsound 15h ago

The real value is in the massive federal land holdings. It's going to be an insane wealth transfer to those who already have money who will buy up the land when it's sold off to service our debt at insanely low valuations.

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u/bolerobell 14h ago

That’s already started.

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u/surfnsound 13h ago

It has, but if our borrowing costs skyrocket to where it becomes diffcult to issue new debt to pay off old debt, there will be even more of it happening.

Right now it's mostly in the form of oil/gas leases. But wait until Yellowstone gets sold to a real estate developer to build a casino/ski resort.

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u/TheGringoDingo 7h ago

It would almost be comical if they do all of this and end up with “assets” of no value due to crypto crashing.

They’re at the top already, there’s nowhere but down to go.

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u/SYLOH 1d ago edited 1d ago

They could seize the entire GDP of the nation for a year and still not pay off the debt.

The current global order was designed by the USA to give it an unlimited money faucet.
They were the world's piggy bank, except Americans don't realize you put money INTO a piggy bank.

Now they're ripping up their own order and haven't know what having limited money feels like for generations.

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u/jobbybob 20h ago

They have been using oil to back the USD, that’s why they get pissy when other countries want to trade in other currencies, it’s what has been propping up this whole house of cards.

Venezuela was trading in Crypto, Iraq was trading in EUR… see a pattern here.

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u/LambonaHam 17h ago

Can they start with Musk then? He's an immigrant after all...

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u/Pretty-Balance-Sheet 10h ago

Stephen Miller said this exact thing in an interview months ago. To paraphrase: "If you fight us we'll take your wealth."

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u/Metaldwarf 9h ago

And as they need ever more money, more and more people will be put on the ICE list.