Kevin Warsh, Trump's rumored pick for Federal Reserve Chairman, is making waves with his promise to "end the war on Main Street and trucking." The former Fed governor claims he'll shift policy away from Wall Street's interests and toward the working Americans who've been crushed by inflation and economic policies that favor the wealthy.
Warsh points to the trucking industry as a prime example of how Fed policy has failed ordinary Americans. Independent truckers have been hammered by rising fuel costs, equipment prices, and regulatory burdens - all while Wall Street banks got cheap money and bailouts during the pandemic.
What the Mainstream Won't Tell You
Here's what the financial media won't explain: The Fed doesn't work for Main Street - it never has. The Federal Reserve was created in 1913 by bankers, for bankers. Its primary job is to protect the banking system and keep the money flowing to Wall Street.
Every Fed chairman talks about helping "working Americans." But follow the money. Since 2008, the Fed has printed over $8 trillion dollars. Where did it go? Straight to the banks and financial institutions. Meanwhile, your purchasing power has been systematically destroyed.
The war on Main Street isn't a bug - it's a feature. When the Fed keeps interest rates artificially low, it punishes savers and rewards borrowers. Guess who the biggest borrowers are? Corporations and wealthy individuals who can access cheap credit. Guess who gets hurt? Retirees living on fixed incomes and families trying to save money.
I've been saying this for years: the monetary system is designed to transfer wealth from the poor and middle class to the rich. Every time they print money, your dollars become worth less. Every time they manipulate interest rates, they're picking winners and losers - and average Americans rarely win.
What This Means for Your Retirement
If you're counting on the Fed to suddenly start protecting your retirement savings, I've got news for you: you're setting yourself up for disappointment. Even if Warsh has good intentions, he's still operating within a corrupt system.
Think about what's happened to your 401(k) purchasing power over the last four years. Sure, the stock market hit record highs, but can you buy the same amount of groceries, gas, or housing with those gains? The answer is no - because they printed your wealth away through inflation.
Here's the brutal truth about traditional retirement planning: when inflation runs at 8% but your savings account pays 2%, you're losing 6% of your purchasing power every year. Your $500,000 IRA might look impressive on paper, but if it takes $800,000 to buy what $500,000 bought five years ago, you're moving backward.
The Fed can promise to help Main Street all they want. But as long as they keep manipulating the money supply and propping up asset bubbles, your retirement savings remain at risk.
What You Should Do
Don't wait for politicians or Fed chairs to save your retirement. Take control of your own financial education and diversify out of pure dollar-denominated assets.
The wealthy already know this secret: they don't keep all their wealth in paper assets that can be inflated away. They own real estate, precious metals, and other hard assets that have held value for thousands of years.
Gold and silver aren't investments - they're insurance against monetary manipulation. While the Fed debates policy and politicians make promises, precious metals have maintained purchasing power through every currency crisis in history.
Consider diversifying a portion of your retirement savings into a Gold IRA. This isn't about timing the market or making a quick profit. It's about protecting the purchasing power you've worked decades to build.
The rich already understand this. Now it's time for Main Street to learn what Wall Street doesn't want you to know about real money and real wealth preservation.
Source: Yahoo Finance