By Ron Paul
What does the Federal Reserve have in common with Venezuela and Greenland? It has been targeted by President Trump for regime change. The Justice Department recently launched a criminal investigation into whether Federal Reserve Chairman Jerome Powell lied to Congress about the costs of renovating the Federal Reserve’s offices. Many believe this investigation was launched in order to support President Trump’s effort to replace Powell, who he nominated to be Fed chairman in 2017, with a Fed chairman who will accommodate President Trump’s demands for lower interest rates. Almost all observers believe that President Trump’s desire to stack the Federal Reserve board with loyalists who will tailor monetary policy to his liking motivated the investigation of Federal Reserve Board Member Lisa Cook. President Trump is using allegations that Cook lied on a mortgage application as a justification to fire her. At a Supreme Court hearing on Lisa Cook’s case, the majority of justices — including some who have been supportive of President Trump’s attempt to exercise greater authority over federal agencies — seemed to oppose his firing of Cook. One reason for this would be viewing the Fed as different from federal agencies like the Federal Trade Commission because private banks play a role in the Fed’s governance. This indicates the Fed is a public-private hybrid. The criminal investigation into Chairman Powell and the attempt to fire Lisa Cook have caused investors, stock traders, and others to fear Trump is endangering the economy by compromising the Fed’s independence. This supposed threat to Fed autonomy has also caused some Republicans who are usually defenders of President Trump to criticize him. There is a long history of presidential attempts to influence monetary policy. President Richard Nixon, for example, pressured Fed Chairman Arthur Burns to lower rates. Nixon and Burns were even recorded joking about Fed independence. Fed Chairman William Martin may not have liked Ike, but he caved to President Eisenhower’s demands that the Fed increase the money supply. President Bill Clinton persuaded Fed Chairman Alan Greenspan to support Clinton’s economic plans. The most extreme case of presidential pressure (at least until the Justice Department launched its criminal probe into Powell) was when President Lyndon Johnson shoved the Fed chairman against a wall because the Fed raised interest rates, causing trouble for Johnson’s Great Society at home and Vietnam War abroad. President Trump is thus not different from his predecessors; he is just more transparent. Opponents of Federal Reserve “independence” have a point. Allowing a secretive central bank to control interest rates and the money supply is the reason the purchasing power of the dollar has vastly declined since 1971, when President Nixon severed the last link between the dollar and gold. Fed-produced fiat currency is also the cause of rising economic inequality and instability. The beneficiaries of this system are the politicians and the corporatist interests living off the welfare-warfare state. On the other hand, President Trump’s critics are correct that giving politicians power to set interest rates would be a recipe for disaster. Instead of arguing over who should control the money supply and set rates, President Trump and Congress should work to audit and end the Fed.
We all grew up learning about the U.S. government's supposed uniqueness; its built-in "checks and balances." After all, the results of concentrated power without restraint are littered throughout all of human history. America was different...for awhile, at least. Congress was, in theory, the branch of government "closest to the people," representing each state's interests. Today? Congress comes around when it's time to vote, and then you don't see them again. They represent billionaires and crony corporations. They're off in other countries, propagandizing the overthrow of foreign governments. They often don't even bother reading the bills they vote on here at home. And worst of all, they allow the Executive Branch to get away with almost everything. No checks. No balances. What has happened to the republic?
Legendary trends forecaster Gerald Celente joins today's Liberty Report to offer his assessment of what 2026 brings. Wars? Depression? Prosperity? Crypto? Celente tells all - so get yourselves ready!
A new Gallup poll has shown a remarkable level of dislike among young Americans for both the Republican and Democratic parties. Their concerns are not currently being met by either party, signaling a big political shake-up in America's future. Also today...President Trump's Board of Peace is being assembled. What is it all about?
By Ron Paul
Over the weekend, as a US carrier strike group made its way toward Iran, President Trump told Politico, “It’s time to look for new leadership in Iran.” This pro “regime change” statement came just days after the US and Israel-led covert operation to overthrow the Iranian government was finally defeated by Iranian authorities. The US President is making it clear he is not giving up on “regime change” for Iran. Late last week the world held its breath expecting a US missile strike on Iran after Trump promised “help is on the way” to the US-backed insurrectionists. President Trump claimed that he called off the strikes at the last minute when he was told that Iran would hold off on executing the ringleaders of the revolt. Ironically, Trump himself has ordered the execution of more than 100 individuals on boats in the Caribbean and Pacific Ocean without charges, trials, or convictions. The renewed military threats on Iran come after the unprecedented fifth visit to DC this year by Israeli Prime Minister Benjamin Netanyahu, who was said to be arriving with a renewed demand for US military action against Iran. Add to this the recent US military operation to kidnap the President and first lady of Venezuela and take the country’s oil, as well as President Trump’s increasing demands for control over Greenland, and the aggressive militarism of this Administration is about the polar opposite of what was promised by Candidate Trump. And the American people are taking notice. Three recently released polls could spell disaster for Trump’s second term – and for Republicans in this year’s midterm elections. According to a Quinnipiac University Poll released last week, seven in ten Americans oppose the US use of force against Iran, including a solid majority of Republican voters. Eighty percent of the very important independent voters oppose any US attack on Iran. On President Trump’s renewed demand for control of Greenland – control he claimed he would get “the easy way or the hard way” – that same Quinnipiac poll shows that 86 percent of Americans surveyed oppose taking the territory by force. A majority of 55 percent of Americans polled do not even want President Trump to purchase the massive island. An AP/NORC poll also released last week showed President Trump’s approval rating on foreign policy has shrunk to a new low in his presidency. According to the poll, “Forty-five percent of adults want the US to take a less active role in global affairs, up from 33 percent in September 2025.” Americans are clearly more interested in getting our problems solved at home than acting as policeman for the world. Perhaps even worse for President Trump and the Republicans, according to a newly-released Real Clear Politics poll, President Trump’s approval rating hits new second-term low of 42.1 percent. Whatever praise President Trump may be receiving from his inner circle – which is increasingly neocon – and a small group of MAGA supporters, such aggressive operations overseas are rapidly losing him the support of the rest of the American people. And that includes Republicans. Trump ran on “no new wars” and “no more regime change overseas.” These are very popular positions. Abandoning these positions has cost Trump dearly. We can hope that in the remaining three years President Trump will rediscover Candidate Trump’s positions and show his neocon advisors the door.
President Trump has threatened several European countries - NATO allies - with tariffs of as much as 25 percent by June if Greenland is not handed over to the United States. What will Europe do? Also - a new study shows that tariffs do not work as claimed by the Trump Administration. You'll never guess who pays...
Basic economic logic and thousands of years of recorded history have verified that price controls take a bad economic circumstance and make it even worse. But alas, President Trump, who seems to be looking for a quick fix to pacify public anger for the results of his policies, is pushing for price controls. Whether it be interest rates, credit card rates, electricity rates ... the more the government subsidizes and interferes with what's left of market prices, the bigger and more numerous the problems become.
The world waited anxiously last night as all signs pointed to a US strike on Iran. The attack did not come and many wonder whether this is more trickery or if the president has wisely decided to resist neocon demands. Polls suggest Americans overwhelmingly oppose US strikes on Iran.
What at first seemed like a whimsical or even humorous claim has now taken a more sinister turn. President Trump has demanded that Greenland come under control of the US government or the Russians or Chinese will take if over. Will the US invade? Purchase? Lease?
President Trump is turning up the "regime change" dial to 11, with social media posts urging Iran's waning riots to ramp back up and overthrow the government. Trump promises the rioters that "help is on the way." It seems the "no regime change" President has become fully enthralled with regime change. Meanwhile, US military assets are heading toward the Middle East.  Time is running out for your year-end donation to the Ron Paul Institute to be DOUBLED by a generous donor. Please support the Liberty Report and the other Institute projects before it's too late: https://ronpaulinstitute.org/donate/
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