Elon Musk is terrifying Democrats almost as much as Donald Trump. The two of them are apparently teaming up to go big game hunting in the swamp. The first trophy they hang on the wall of the Oval Office might just be the “creature from Jekyll Island.” Most people call it the Federal Reserve. It’s expected to fight back with every thing it has, which will be a major challenge for the already overburdened Secret Service.
Musk ready to rumble
When Donald Trump makes his triumphant return to the White House, Elon Musk will be working right alongside him. They have bold ideas for eliminating wasteful federal bureaucracy and generally pumping the swamp dry.
One of their first action items is expected to be “sweeping changes to the Federal Reserve.” Maybe even killing it. We all know that won’t be an easy task to accomplish.
A “growing question” CNN ponders, “is not how the central bank will operate under Trump but if it’ll continue to operate at all.” The last president who actually dared talk about abolishing the Federal Reserve was JFK.
Trump already has people shooting at him, so plans to get the job done fast. Before the Secret Service screws up again. Having Elon Musk and his extra team of bodyguards around will be a big help.
Musk is in 100 percent agreement with Mike Lee. The Republican Senator from Utah posted on X that “the Executive Branch should be under the direction of the president.” That includes Fed Chair Jerome Powell.
The elite bankers who brought the creature to life supplied it with a nearly invincible supply of independent authority.
End the Fed
The idea of abolishing the Federal Reserve isn’t new. The organization has been controversial since it’s very beginning. It’s also powerful enough politically, from the function it provides regulating the money supply. That’s made it powerful enough to fight off all the attacks, so far.
Trump and Musk are both independently strong. Together, they’re in a position to take a crack at slaying the beast. As Senator Lee noted, “The Federal Reserve is one of many examples of how we’ve deviated from the Constitution.” That, he added, is “yet another reason why we should #EndTheFed.”
Ron Paul made that part of his Libertarian platform when he challenged Barack Obama for president, twice. John McCain and Mitt Romney were the alleged Republicans in 2008 and 2012. Elon Musk is a huge fan of his book “End the Fed.” Trump-Vance transition spokesperson Karoline Leavitt was recently asked to weigh in on the removal of Chairman Powell.
She thinks monetary policy should be the same as any other domestic policy. It “should only be deemed official if it comes from President Trump directly.” If the fed is to remain in business, it needs to be controlled directly by the administration. That’s definitely not the way it works now.
Over the summer, Republican lawmaker Thomas Massie of Kentucky and Senator Lee coordinated the introduction of “corresponding bills aimed at uprooting the nation’s central bank and shifting its responsibilities to the Treasury Department.” That’s a good place to start the transition. “Trump has not publicly voiced his support for dismantling the Fed.” He has advocated radical changes and isn’t ruling out killing it completely.
Trump already promised to bring down interest rates. “Presidents, however, don’t have any direct influence over the rates Americans pay to borrow money.” If Trump wants to do that, he’s going to need to either kill or neuter the creature. The only way to fire the fed chair is for cause. Everyone assumes that means a president can’t do it on a whim. Elon Musk pointed out that “the exact interpretation of what would constitute a for-cause firing has not been precisely defined.” That gives them some ammunition for a big swamp safari.
