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For decades Wall Street bankers and globalist financial elites ran the Federal Reserve as a private club for their own benefit, keeping interest rates down for themselves to fuel their own asset bubbles while providing massive bailouts to other big financial operators while the working class suffered under the burden of inflation of their wages and the $40 trillion debt that they had never been given the opportunity to vote on.

That era is over.

Trump’s choice of Kevin Warsh to chair the Federal Reserve, and his likely attendance at the Jackson Hole, Wyoming meeting of global central bankers, suggests that at last the Fed will stop serving the interests of Wall Street hedge funds and other big banks and start serving the interests of the American people.

Warsh, handpicked by the Trump administration, will unleash on the central bankers and their sycophants a brand new model for managing finance in America – which will go far beyond the current fashion of tweaking interest rates here and there. The model will involve a deliberate effort to refinance, or restructure, the long-term debt obligations of America – as opposed to, say, the current model which sees us running the same old debt slave game of the past.

This is not a Wall Street strategy and if implemented, Wall Street will hate it. The 'Street' has gotten fat off being fed the strategy of the Federal Reserve in advance. That stopped with Warsh's confirmation.

Bessent is already aggressively managing the long end of the Treasury curve. America needs to take back control of its finances. The 30-year yield is currently trading at 5.3%. That is a big opportunity for the government to buy back long-dated debt that was issued at low rates in a corrupt process managed by the Fed for the benefit of Wall Street bankers – at pennies on the dollar.

Warsh’s so-called “cryptic silence” is in fact an initiative of tremendous import. Rather than emulate the grandiose Federal Reserve charade embodied by Greenspan, Bernanke, and Powell – which was designed to forward the interests of the powerful banks on Wall Street – Warsh will actively work to reverse their undue influence at the Fed. He will provide the information the American public needs to make their own informed decisions, rather than hand-holding the big banks through every policy move in advance.

The old playbook – artificially suppressed rates, quantitative easing that drove up financial asset prices for the wealthy, and a Federal Reserve that answered to Goldman Sachs before it answered to the country – is finished.

The United States is on the cusp of a new financial era. One where the debt is restructured to the advantage of the taxpayer, not the bondholder. One where the Fed Chairman does not take his marching orders from Bank of America analysts. One where “Financial Innovation” actually means something for a change – rather than another clever mechanism to transfer wealth upward while the working class absorbs the cost.

The bankers had their turn. They left a $40 trillion tab. Yet, they are demanding more information from Warsh to put on their trades. He's not going to hold their hand.

The wailing and gnashing of teeth prior to Jackson Hole is fun to watch.

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