Chapter 739: Chapter 370: Federal Reserve Raises Interest Rates_2
As the head of the conglomerate, David was well aware that despite being part of Freemasonry, the group, no matter how close, could not escape the clutches of self-interest.
Without benefit, who would recognize your leadership and heed your commands?
Thus, it was only reasonable and natural for them to contribute to the fund.
Indeed, as soon as they heard that the upcoming financial burden would not fall on the individual families within the group, many of the Freemasonry members present immediately brightened up.
But when some are happy, naturally others worry.
The worriers were, of course, The Seven Great Families.
...
Although they had amassed enormous wealth over the years through the Federal Reserve and various industries, money did not grow on trees.
Now that David had clearly put pressure on numerous American legislators, if they wanted to sway these people, the cost would undoubtedly be substantial.
So, the prospect of sharing the cost for the entire group was naturally grating to them.
“Mr. Henrietta, this bill affects not only us but also the Ansa Group and the Illuminati; shouldn’t we talk to them as well?”
The underlying implication in Joshua’s words was that if money needed to be spent, it shouldn’t just come from them!
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“Of course, that goes without saying. You may leave now. This damned bill is vital to the deeper interests of the Freemasonry Group. You must go all out and can’t afford to slack off anymore. Joshua, Prescott… the few of you stay behind!”
Soon, most of the Freemasonry members had left, and apart from Henrietta, only representatives of The Seven Great Families remained.
“I know it’s uncomfortable for you to share the cost among yourselves because even if the Remote Tax Avoidance bill passes, those of you backed by the Federal Reserve won’t go bankrupt. But remember this, we cannot retreat any further!”
“If the Internal Revenue Service successfully pushes through this bill and reaps the riches, who’s to say they won’t pass another law to harvest the wealth of the Federal Reserve?”
Although everyone had considered this possibility, hearing Henrietta say it so bluntly still made many shudder.
However, it wasn’t long before a representative from the Warburg Family responded, “Mr. Henrietta, they wouldn’t dare introduce legislation targeting the Federal Reserve, would they?”
The Federal Reserve, though not equipped with powerful enforcement authority like the Internal Revenue Service or FBI, was a financial institution capable of influencing the global economy.
If they dared to enact legislation affecting this institution, not only would it disrupt America’s domestic markets, but the global stock and financial markets would also experience massive upheaval.
Considering these factors, he voiced his doubts.
“Haha, before this, did you imagine he would dare to introduce such a bill? And knowing that bastard David’s character, what is there he wouldn’t do now?”
Hearing this, the head of the Warburg Family was at a loss for words.
Indeed, before this, none of them had expected David to launch such a bill in retaliation against them.
And now, if this bill is successful, David’s prestige would only rise.
Given time, announcing legislation against the Federal Reserve might become just another step in the process.
“Mr. Henrietta, not getting rid of that bastard last time has been far too troublesome, do you think we still have a chance to…?”
The head of the Zart Family made a throat-slitting gesture.
While the other family representatives didn’t immediately voice their support, several showed contemplative expressions, pondering the feasibility of this approach.
Despite the bill’s potential damage to them, as long as they held sway over the Federal Reserve, their foundation remained intact.
But should anything happen to this institution, the Freemasonry Group might fall apart.
So naturally, they could not tolerate any issues with this establishment.
“Haha, last time we missed our chance, and since then both the Internal Revenue Service and David have become extremely wary. Moreover, I’ve heard that the Intelligence Agency has fallen into that bastard’s hands, and ever since Madu Aike was forced out, nobody in the FBI dares to cross him.”
“With both these departments in his grip, on top of the channels of the Tax Bureau itself, it’s possible that our plans could be uncovered the moment we devise them, resulting in nothing but wasted effort!”
Prescott said, effectively quashing the thoughts of those present.
Yes, their meticulously prepared assassination attempt failed last time, and now that David is on guard, with both the FBI and CIA watching over him, their chances of succeeding are extremely low.
“They’re playing by the book with us now, so let’s play by the book with them, it just means spending some extra money, which I really don’t think is any big deal…”
At this point, Prescott seemed indifferent. It was just a matter of spending some money. After all, they had made enough over the years; there was nothing to regret.
“Alright, then our Morgan Family is willing to pay for this operation!”
“Our Rockefeller Family is also willing to contribute!”
“We…”
“…”
Realizing the gains and losses, The Seven Great Families could do nothing but express their willingness to contribute funds one after another.
This made Henrietta very satisfied, and he said, “Don’t worry, everyone won’t be contributing this money for nothing!”
“What do you mean by that, Mr. Henrietta?”
“According to the government’s financial reports, our inflation rate has reached a year-over-year increase of 9.1%. It’s time for an interest rate hike!”
“Interest rate hike!”
Upon hearing these words, the representatives of the major families present all had their eyes brighten.
An interest rate hike by the Federal Reserve might sound like nothing to the average person, but to the stock market and financial sector, it’s explosive news.
Why?
Because the Federal Reserve controls the lifeline of the global economy, and every interest rate hike is like shearing the wool of the whole world.
How exactly is this shearing done?
To put it simply, the US Dollar is raised to a high point, other countries’ currencies are pushed to a low point and then, through Wall Street, the US Dollar can be sold off in order to purchase other countries’ currencies or high-quality assets priced in those currencies. This high selling and low buying complete the shearing process of the wool.
If executed in tandem with a US Dollar bottoming out and crashing other countries’ financial systems, causing them to fall into an economic crisis, not only would their currencies devalue wildly, but their sovereign assets would also be further discounted during the process. Then, this high selling and low buying would be even more exhilarating!
And the wool shearing would be even more satisfying!
But the most crucial step in this process is to sell the US Dollar at a high point, exchanging it for the undervalued currencies of other nations, to maximally acquire their discounted premium assets.
So, the question arises, why would anyone be willing to buy your US Dollar at a high point?
It’s quite simple.
As the sole world currency, whether you’re doing business, importing materials, or repaying foreign debts, you need to use the US Dollar.
If you run out of US Dollars, then the only thing left is national bankruptcy.
That means becoming like Sri Lanka, with economic standstill, trade disruption, followed by social turmoil, and riots breaking out!
However, an interest rate hike by the Federal Reserve is an absolute nightmare for countries around the world.
But for America, it’s naturally very beneficial.
And even more beneficial for families like the Morgans and Rockefellers that control the Federal Reserve.
For them, every interest rate hike can bring in a fortune.
Sadly, the power to make decisions on global economic events like the Federal Reserve’s interest rate hikes does not lie with The Seven Great Families.
It lies with the Rothschild Family!
Now that Henrietta has given the order to raise interest rates, the funds that they are about to invest in their fight against the Internal Revenue Service will not only be replenished but they might even make a tidy profit!