With Donald Trump about to appoint five of seven members to the Board of Governors of the Federal Reserve System, an unprecedented number for a modern president, how will his central bank differ to what has become before or what could have been had Hillary Clinton not lost so spectacularly. Nomi Prins, author of the upcoming book, COLLUSION: How Central Banks Rigged the World, says that Trump’s Fed will not look all that different to what Hillary’s would have looked like because all global central banks now look alike and practice the same exact policies: zero or negative rates, buying up toxic debts with easy money and even easier bailouts. It is this fact, Prins says, that explains Jamie Dimon’s hostility to bitcoin, which is not only a competitor to the private banks’ payments systems but it also doesn’t do bailouts.
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