The referral, spearheaded by Rep. Anna Paulina Luna (R-FL), a fierce Trump ally, accuses Powell of lying under oath on two occasions regarding the Fed’s jaw-dropping $2.5 billion renovation of its Eccles Building headquarters in Washington, D.C. Let’s put that number in perspective: $2.5 billion is more than the cost of building brand-new NFL stadiums in Nashville or Buffalo. This isn’t pocket change—it’s a taxpayer-funded palace for unelected bureaucrats who already wield way too much control over our economy. Luna’s letter to the DOJ reveals that Powell misled the Senate Banking Committee on June 25, 2025, by downplaying lavish amenities like VIP dining rooms, premium marble, special elevators, water features, and rooftop gardens—features he flat-out denied existed. Strike one.

Then, in a letter to Office of Management and Budget Director Russell Vought, Powell allegedly misrepresented cost escalations from $1.9 billion to $2.5 billion as “minor” changes, despite evidence of significant upgrades that should’ve required new approval from the National Capital Planning Commission (NCPC). Strike two.

This is classic Fed behaviour—obfuscate, overspend, and operate above the law. The Eccles project, greenlit in 2017, was supposed to cost $1.9 billion, but “unforeseen conditions” like asbestos and a high-water table supposedly jacked up the price. Sounds like a convenient excuse for mismanagement, doesn’t it? Powell’s defence? He’s ordered a “formal watchdog probe” into the costs and insists the changes were minor and compliant with regulations. But the Fed’s own submissions to the NCPC tell a different story, detailing extravagant additions that Powell conveniently left out of his testimony. If this isn’t perjury—knowingly lying under oath, which carries up to five years in prison—then what is?

For those of us who’ve long distrusted the Fed, this is a smoking gun. The Federal Reserve isn’t just a monetary policy machine; it’s a symbol of the Deep State’s unchecked power. It prints money out of thin air, manipulates interest rates, and fuels inflation that crushes the working class—all while Powell and his cronies sip coffee in their soon-to-be-marble-clad offices. President Trump, who appointed Powell but has since called him out for keeping interest rates “ridiculously high,” has been banging this drum for years. He’s even floated firing Powell, though he recently said it’s “highly unlikely” he’d pull the trigger. Still, Trump’s frustration is spot-on: why is the Fed blowing billions on a lavish HQ while dragging its feet on rate cuts that could ease the burden on American businesses and families?

The timing here is no coincidence. With Trump and his allies like Luna and Treasury Secretary Scott Bessent pushing for a full audit of the Fed’s operations, this referral is a shot across the bow. Bessent recently told reporters the Fed needs to be “critically examined” for its effectiveness, and he’s right.. The Fed’s been hiding behind its “independence” for too long, acting like it’s untouchable while making decisions that ripple through every American’s wallet. Luna’s move, backed by whispers from congressional insiders like Bill Pulte, signals a growing revolt against this opaque institution.

The Fed’s track record of secrecy and excess demands scrutiny. Powell’s denials and his scramble to launch an internal probe only underscore how desperate he is to cover his tracks. If the DOJ takes this seriously—and with Attorney General Pam Bondi at the helm, there’s a chance it might—Powell could face real consequences.

As a finance person who sees the Fed for what it really is, I say it’s time to turn up the heat. This referral isn’t just about one man’s alleged lies: it’s about dismantling a system that’s been gaming the people for decades. Whether Powell resigns, gets prosecuted, or skates, the message is clear: the Fed’s days of operating in the shadows are numbered. Luna’s courage in calling out this nonsense deserves a nod, and if it leads to lower rates or a broader reckoning for the central bank, all the better. Keep your eyes on this one—it’s a fight worth watching.

Mass Layoffs Continue Across Big Companies

In 2025, mass layoffs are sweeping through major corporations, from tech giants like Intel, Meta, and Microsoft to legacy industries like retail, manufacturing, and finance. Over 159 companies have slashed approximately 80,000 jobs this year alone, with tech leading the charge. Years of corporate overreach, government meddling, and the looming threat of AI-driven disruption are driving this upheaval.

The Layoff Surge: What’s Happening?

The numbers are stark. Intel’s cutting up to 20% of its global workforce—around 10,000 jobs—despite pocketing over $2 billion in federal CHIPS Act funding. Microsoft axed 9,000 employees, roughly 4% of its staff, while Meta trimmed hundreds from its marketing and Reality Labs divisions. Outside tech, Disney’s shedding hundreds in film and TV marketing, Estée Lauder is slashing 5,800–7,000 jobs, and UPS is eliminating 20,000 roles, citing global trade policy shifts. Even federal agencies aren’t spared, with over 128,000 government workers laid off or targeted under the Trump administration’s push to shrink the state.

These aren’t isolated incidents. Layoffs.fyi reports that 2025 has already seen over 22,000 tech job cuts, with February alone accounting for 16,084. Retail’s been hammered too, with 64,000 jobs lost in the first four months, driven by bankruptcies at Joann Fabrics (19,000 jobs) and Party City (16,000). Manufacturing giants like General Motors and Nissan are also scaling back, with GM cutting 1,695 at its Fairfax plant and Nissan slashing 9,000 due to tariffs and slumping sales in China. Why Are These Layoffs Happening? These layoffs stem from a mix of market realities, government-induced distortions, and technological shifts that expose the rot of centralized control and corporate bloat.

The Layoff Surge: Over hiring During the Pandemic Bubble:

The early 2020s saw companies like Amazon, Meta, and Google go on hiring sprees, fuelled by cheap money and lockdown-driven demand for tech, e-commerce, and remote work solutions. With interest rates near zero, corporations binged on debt and overstaffed, expecting endless growth. Now, with demand cooling and inflation biting, they’re shedding excess. This is basic market correction—businesses bloated by artificial stimulus are now forced to tighten up. Easy-money policies from the Federal Reserve created this bubble, encouraging reckless expansion while shielding companies from real-world consequences.

The Layoff Surge: AI and Automation Disruption

A World Economic Forum survey predicts 41% of companies will cut jobs over the next five years due to AI. Firms like CNN, Dropbox, and Chegg have already cited AI as a factor, with Amazon’s CEO Andy Jassy admitting fewer humans will be needed for certain roles as generative AI takes over. Some would say that this is the free market at work—technology drives efficiency, cutting fat from overstaffed operations. But let’s not kid ourselves: the Deep State loves AI for its surveillance and control potential, and their cronies in Big Tech are all too happy to push automation while dodging accountability for the human cost. The result? Workers in customer service, marketing, and IT support are getting replaced by algorithms, and entire industries like finance and retail are seeing AI chatbots and trading systems take over.

The Layoff Surge: Tariffs and Trade Policy Shocks

The Trump administration’s reciprocal tariffs, particularly on imported vehicles and goods from China, are hitting companies like Nissan (facing a $4.5 billion loss) and UPS, which cited “global trade policy changes” for its 20,000 job cuts. Yes, folks cheer tariffs for protecting American jobs and countering China’s economic dominance, but the short-term pain is real. Tariffs raise costs, disrupt supply chains, and force some companies to downsize to stay competitive. The Deep State’s globalist agenda—pushing free trade deals that gutted U.S. manufacturing—set the stage for this correction. Trump’s policies are a pushback, and they are squeezing corporations that got cozy with cheap foreign labour and imports.

The Layoff Surge: Economic Uncertainty and Cost-Cutting:

Induced Inflation, high interest rates, and recession fears are forcing companies to prioritize profitability overgrowth. The Fed’s rate hikes in 2022–2023, aimed at curbing 40-year-high inflation, jacked up borrowing costs, hitting debt-laden tech firms hardest. Companies like CrowdStrike (5% workforce cut) and PwC (1,500 U.S. jobs) are streamlining to meet financial targets, while retailers like Big Lots cut jobs to avoid bankruptcy. From a conservative lens, this is what happens when markets are distorted by government overreach—years of low rates and stimulus bloated balance sheets, and now firms are paying the price. The Deep State’s economic mismanagement, from printing trillions to funding endless wars, has fueled this instability.

The Layoff Surge: Copycat Layoffs and Wall Street Pressure

Wall Street’s rewarding layoffs with stock bumps, as seen with Microsoft, Meta, and Alphabet hitting record highs after cuts. Stanford’s Jeffrey Pfeffer calls it “copycat layoffs”—when one tech giant downsizes, others follow to signal cost discipline to investors. This herd mentality isn’t just market-driven; it’s egged on by a financial system rigged by Deep State insiders who prioritize shareholder value over workers. Conservative finance guys see through this: corporations are cutting jobs not just for efficiency but to appease Wall Street cronies who thrive on short-term gains while Main Street suffers.

The Deep State—unelected bureaucrats, globalist elites, and their corporate allies—has a hand in this mess. For decades, they’ve pushed policies that hollowed out the American worker: free trade deals that sent jobs overseas, loose monetary policy that inflated bubbles, and now AI surveillance tech that’s replacing humans. The Federal Reserve’s money-printing spree enriched Big Tech and Wall Street while leaving companies overleveraged and workers vulnerable. The same elites cheering AI adoption are the ones cozying up to globalist institutions like the World Economic Forum, which predicts massive job losses while preaching “you’ll own nothing and be happy.” Trump’s tariffs and DOGE initiative are challenge to this system, aiming to restore American sovereignty and cut government fat. But the collateral damage—layoffs, economic uncertainty—hits hard. The Deep State’s influence lingers in corporate boardrooms, where executives mimic each other’s cuts to please investors, not to build a stronger economy. And AI, a tool for control, with Big Tech and government colluding to monitor and manipulate data under the guise of innovation. Skilled professionals are left jobless, and communities where federal agencies or tech firms dominate face unemployment spikes (e.g., Washington, D.C.’s rate could hit 9.6% from 2.8%). The answer isn’t more government handouts or Deep State bailouts—it’s unleashing free markets, cutting red tape, and letting American ingenuity thrive. Companies must stop chasing Wall Street applause and focus on long-term value. Workers, meanwhile, need to adapt to a world where AI and automation are rewriting the rules. In short, 2025’s layoffs are a reckoning—corporations correcting past excesses, markets reacting to government distortions, and technology reshaping labor. The Deep State’s fingerprints are all over the chaos, but the path forward lies in dismantling their influence, embracing market discipline, and empowering workers to navigate the storm.

Written By Tatenda Belle Panashe

Bill Pulte, the head of the Federal Housing Finance Agency, broke the silence. He stepped up as a whistleblower, exposing a major cover-up with solid evidence that contradicts Federal Reserve Chairman Jerome Powell’s sworn testimony. Now, the entire institution is under scrutiny, revealing not just its physical structure but also the deceitful culture that supports it. This scandal goes beyond Powell; it shows the Federal Reserve’s true colors as a government-like cartel. Lying to Congress isn’t just a mistake; it’s a serious federal crime. If an average citizen lied to a Senate committee, they’d face jail time. But Powell seems to escape unscathed, living in luxury while others would be punished. This glaring double standard is what former President Trump has just taken aim at.

The Federal Reserve has never really been a public entity; it operates as a private organization led by unelected individuals who lack accountability to the people. Powell’s exposure marks the beginning of a long-overdue reckoning. Trump’s message is straightforward: resign, face criminal charges, or get removed. This isn’t just for show; it’s a firm stance. The era of bankers getting away with everything is coming to an end. The economy won’t be ruled by global financiers anymore. The President is holding the Federal Reserve accountable—not out of spite, but to seek justice. For every worker burdened by inflation, every small business ruined by rising interest rates, and every citizen misled—justice is on the way.

The Fed’s $2.5 Billion Taj Mahal: A Case Study in Why We Must Abolish the Federal Reserve

We’re talking rooftop gardens, private dining rooms, governors’ elevators, and even Italian beehives. Italian beehives! While ordinary people are scraping by under crushing inflation and sky-high interest rates, the Fed’s building itself a palace on the National Mall, and they’re doing it in near secrecy. This isn’t just a renovation; it’s a monument to arrogance and a screaming case for why they must abolish the Federal Reserve once and for all. G. Edward Griffin, author of The Creature from Jekyll Island: A Second Look at the Federal Reserve, lists seven solid reasons to abolish the Federal Reserve.

The $2.5 Billion Boondoggle: A Breakdown

Let’s start with the numbers. In 2019, the Fed pegged the cost of renovating its Marriner S. Eccles and FRB-East buildings at $1.9 billion. By 2025, that figure has skyrocketed to $2.5 billion—a 30% jump. Inflation, they say. Rising steel and cement costs, they claim. But let’s cut through the fog: $2.5 billion for two buildings that house 2,500 employees works out to $1 million per employee. Compare that to the Department of Homeland Security’s $250 million renovation of 450,000 square feet for the same number of staff at the Ronald Reagan Building just down the road. The Fed’s project is ten times more expensive. For what? A “critical backlog of upgrades”? Or a gilded headquarters for an institution that’s been fleecing the American people for decades? The Eccles Building, built in 1937 for $3.4 million (about $77 million in 2025 dollars), has served the Fed for nearly 90 years. Suddenly, it’s not good enough? The Fed claims outdated systems, modern building codes, and security needs justify the cost. But planning documents from 2021, reviewed by the Senate Banking Committee, tell a different story: private dining rooms, rooftop terraces for “urban wildlife and pollinators,” ornate water features, and those infamous Italian beehives. Federal Reserve Chair Jerome Powell testified in June 2025 that there are “no VIP dining rooms, no special elevators, no water features, no beehives.” Yet the documents say otherwise. Either Powell’s misled Congress, or the Fed’s planning a bait-and-switch. Either way, the secrecy reeks of an institution that thinks it’s above accountability.

The Fed’s Financial Failure: Bleeding Red Ink

Here’s the kicker: the Fed isn’t even solvent right now. For decades, it raked in profits, sending billions to the U.S. Treasury—$97.7 billion in 2015 alone. But since 2022, it’s been hemorrhaging money: $114.6 billion in losses in 2023, $77.5 billion in 2024, and a cumulative $233 billion over three years. Why? Because Powell’s rate hikes to fight the inflation the Fed helped create have spiked the interest it pays on bank reserves, outpacing its bond earnings. The Fed’s securities portfolio is underwater to the tune of $220 billion since mid-2022, with projections of $1.5 trillion in losses over the coming years. Now, the Fed will tell you it’s not “taxpayer-funded” because it lives off its investments and bank fees. Don’t fall for it. When the Fed loses money, it stops sending profits to the Treasury, which means less revenue for public programs. That shortfall hits taxpayers indirectly. So, while in the US you’re paying 6% on your mortgage and $4 for a loaf of bread, the Fed’s burning $2.5 billion on a headquarters it can’t afford. If this isn’t a case for dismantling an institution that’s lost its way, I don’t know what is.

The Fed’s Arrogance: A Symptom of a Broken System

This $2.5 billion renovation isn’t just a bad budget decision: it’s a symptom of the Fed’s fundamental flaws. Since its creation in 1913, the Federal Reserve has operated as a quasi-private fiefdom, answerable to neither Congress nor the American people. It manipulates interest rates, prints money out of thin air, and fuels inflation that erodes your savings. Now, it’s building a $2.5 billion monument to itself while the economy groans under its policies. Senator Cynthia Lummis nailed it: “The Federal Reserve hasn’t earned a dime in years but somehow found $2.5 billion to build a modern-day Palace of Versailles. No accountability. Just arrogance.” Senator Tim Scott has called for Powell’s censure over misleading testimony, and this is taxpayer-funded excess at its worst.

Why Abolish the Fed? This $2.5 billion debacle is just the latest reason to abolish the Federal Reserve. Let’s be clear: the Fed isn’t a neutral referee; it’s a central planner that distorts markets, punishes savers, and rewards Wall Street. Its easy-money policies fueled the 2008 financial crisis and the post-COVID inflation surge. Its independence shields it from accountability, letting it spend billions on luxury headquarters while Main Street struggles. And its very existence undermines the free market principles. Abolishing the Fed would mean returning to sound money—perhaps a gold-backed currency or a ascended competition. It would force Congress to take responsibility for monetary policy, not unelected bankers. It would end the cycle of boom-and-bust economics driven by artificial interest rates. And it would stop unelected elites from building $2.5 billion palaces while the rest of us pay the price.

The Path Forward: End the Fed

This $2.5 billion travesty demands action. Abolish the Federal Reserve. It’s time to end this century-old experiment in central banking. Return to sound money and let markets, not bureaucrats, set interest rates. If the Fed won’t go quietly, Congress must force open its books. Every penny of this $2.5 billion must be accounted for. The Fed’s independence has gone too far. Congress must rein it in with audits and budget controls. Scrap the beehives, terraces, and private elevators. Build a functional office, not a palace. The Federal Reserve’s $2.5 billion headquarters rebuild is more than a waste of money; it’s a symbol of everything wrong with centralized power. While Americans struggle under the Fed’s inflation and rate hikes, it’s splurging on a Taj Mahal for unelected elites. This isn’t just bad policy—it’s a betrayal of the American people. The Fed’s time is up. It’s time to abolish this relic of 1913, restore sound money, and put economic power back in the hands of the people. Let’s demand transparency, accountability, and an end to the Federal Reserve’s reign. The future of our economy depends on it.

Written By Tatenda Belle Panashe

The trend reflects growing geopolitical tensions, including the 2022 freezing of Russian reserves, US-China friction, and a push by BRICS nations to diversify away from dollar and euro reliance. Central banks cited diversification and protection against sanctions as key reasons for increasing gold holdings. Despite the euro’s stable share at around 20% when measured at constant exchange rates, gold’s price rally elevated its market value above the euro’s. The US dollar still dominates reserves at 46%, though its share is declining.

This is a big deal, and it’s a wake-up call for anyone who values economic stability, national sovereignty, and sound money. Let’s break down why this matters and what it means for you. Gold overtaking the euro signals a crisis of confidence in fiat currencies—those paper promises backed by nothing but trust in governments. Fiat currencies are backed by empty promises, and when those promises fail, confidence collapses. ‘Fiat’ is Latin for currency by force.

The euro, once hailed as Europe’s answer to the dollar, is losing ground because central banks are questioning its long-term stability. And who can blame them? The eurozone’s been grappling with sluggish growth, political fragmentation, and the fallout from years of loose monetary policy. Meanwhile, gold—tangible, timeless, immune to sanctions—has become the go-to for nations looking to protect their wealth.

Why EU’s Currency Is DONE

The Euro suffered a record collapse to its low in 2022. However, this fall isn’t done and the crash has worsened in 2025. The Euro could crash further which could escalate deindustrialization as well!

ECB’s Digital Euro set to launch in October

But this is by design because, the European Central Bank is set to unveil its Digital Euro in October, sparking widespread concerns about the erosion of our financial freedom. A major issue is the real-time monitoring of every single transaction, allowing banks to track each purchase made by individuals, thereby raising significant privacy concerns. The threat of payment blocking becomes increasingly real, with the government potentially freezing funds if they disagree with an individual’s actions. Furthermore, the introduction of automatic tax deductions is a looming possibility, where the ECB could directly deduct taxes from digital wallets. The implementation of cash withdrawal limits may also be on the horizon, restricting access to one’s own money. The Digital Euro will introduce programmable money, enabling the imposition of expiration dates on funds, which will disappear if not spent within a specified timeframe. Having failed to convince the public to adopt this system voluntarily, authorities now appear to be relying on fear tactics, potentially exploiting a new crisis to forcibly impose the Digital Euro on the population, effectively ushering in a financial Great Reset. This move would grant total control over individual purchases, tracking movements, and potentially even dictating dietary choices, essentially establishing a system of pervasive financial surveillance that monitors every aspect of one’s life. By accepting the Digital Euro, individuals would be paving the way for a future devoid of financial privacy, where every transaction is tracked and controlled. The ECB’s plan raises urgent questions about the future of financial freedom and the potential for governments to exert excessive control over citizens’ lives. Will the introduction of the Digital Euro mark the beginning of a new era of financial surveillance, and what implications will this have for individuals and society as a whole?

How Geopolitics has favoured Gold

Now, let’s talk geopolitics, because this is where the rubber meets the road. The 2022 freezing of Russia’s reserves by Western powers sent shockwaves through the global financial system. Countries like China and India took note and said, “We’re not going to be next.” They’re diversifying away from the dollar and euro, stockpiling gold to shield themselves from sanctions and currency wars. BRICS nations are even talking about a gold-backed alternative to the dollar. This isn’t just a financial shift; it’s a power shift.

From a conservative perspective, this is a vindication of what we’ve been saying for years: fiat currencies are vulnerable. The US dollar, still king at 46% of reserves, isn’t invincible either. Its share is shrinking, weighed down by America’s $33 trillion debt and reckless money printing. Gold’s rise is a reminder that sound money—backed by something real—matters. It’s why central banks are acting like preppers, stocking up on gold like it’s the financial apocalypse.  But this isn’t just about central banks. Everyday investors are jumping in, too. Gold ETFs and physical bullion sales are booming as people hedge against inflation and currency devaluation. And let’s be honest: with governments spending like there’s no tomorrow, who trusts paper money to hold its value? Gold’s surge is a vote for economic sanity in a world gone mad with debt and deficits.  But Like I said, Its by design because they want to introduce CBDC.

Gold overtaking the euro is sign that the global financial system is cracking.

So, why should you care? Because gold overtaking the euro is a warning shot. It’s a sign that the global financial system, built on trust in fiat currencies, is cracking. For investors, it’s time to ask: are you diversified? Do you have assets that can’t be printed or sanctioned away? For policymakers, it’s a call to get back to basics—cut spending, shore up currencies, and stop treating debt like a game. And for all others, it’s a reminder that in uncertain times, gold isn’t just shiny metal; it’s a hedge against chaos.