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Can you hear that hissing sound? That's capital flowing to where there are better returns.
Pension organizations hate having to compete.
Yup.
Texas is mostly unified, and their Fed district is nearly entirely the one state.
https://www.investopedia.com/articles/investing/061515/what-do-federal-reserve-banks-do.asp
Texas seceding from the U.S. entirely would not be surprising. And a lot sooner than 100 years from now.
California is not unified. And they are only one of 9 states in that Fed district.
I could see a handful of counties in SoCal (San Diego, Orange County, and some or all of the Inland Empire (Imperial, Riverside, San Bernardino) seceding from the State of California, but staying within the U.S. yet. But for 100 years from now though, a lot could change.
We are witnessing the slye roundabout way of making the Fed less and less relevant and perhaps ultimately defunct.
This is the real reason Scott Bessent wants stable coins. He gets to be in control of the money supply and ultimately the interest rates.
That connects some dots in a way I hadn't considered before.
There are more details in this ZeroHedge article: https://www.zerohedge.com/markets/trump-exempts-computers-handsets-chips-reciprocal-tariff-blitz
Just noticed that earlier there was this BBC article:
#941492
https://www.interactivebrokers.com/en/support/fund-my-account.php