PROOF Jerome Powell Is A Criminal

[00:00:00] Jerome Powell is the chair of the [00:00:02] Federal Reserve. This week, a letter was [00:00:05] submitted to the Department of Justice [00:00:06] for potential criminal investigation and [00:00:09] prosecution for perjury. We're going to [00:00:12] look at the evidence that Jerome Powell [00:00:14] is a criminal. [00:00:16] [Music] [00:00:32] Let me give you some backstory about the [00:00:34] current controversy. Here is a map of [00:00:37] Washington DC. You have this long park [00:00:39] with the Capital Building at one end and [00:00:41] the Lincoln Memorial at the other end [00:00:43] with the Washington Monument in the [00:00:45] middle. The White House is here and very [00:00:48] close to the White House is the Mariner [00:00:50] S. Ecklas building which contains the [00:00:52] offices for the Federal Reserve. Jerome [00:00:55] Pal has been overseeing a renovation of [00:00:57] the building as well as the building [00:00:59] next to it. Initially, the renovation [00:01:01] was going to cost $1.9 billion, [00:01:05] but construction costs have ballooned to [00:01:07] $2.5 billion. [00:01:10] Just to illustrate how wild this is, [00:01:13] here's a chart that compares the Federal [00:01:15] Reserve renovations with other Federal [00:01:17] Building renovations in cost per square [00:01:19] foot. You can see how out of control the [00:01:23] spending has become. I want people to [00:01:25] just take a step back and think about [00:01:27] this. What kind of building costs $2.5 [00:01:31] billion? [00:01:33] That's a lot of money. This is not even [00:01:36] new construction. This is just [00:01:38] renovations. [00:01:39] Just as a comparison, before Donald [00:01:42] Trump became president, he built Trump [00:01:44] Tower in Chicago. He did it for $847 [00:01:49] million. [00:01:51] That was a freaking skyscraper. [00:01:54] And the Federal Reserve is spending $2.5 [00:01:56] billion for this little building. What [00:02:00] are they spending the money on? They [00:02:03] could have built more than two Trump [00:02:05] Towers for what they are spending. Now, [00:02:08] it would be one thing if maybe the [00:02:10] building was going to be used for some [00:02:11] highly specialized reason. Is this some [00:02:14] sort of special construction? [00:02:17] We have to ask the question, what are [00:02:19] the people going to be doing who are [00:02:21] working in this building? [00:02:24] Well, they work for the Federal Reserve. [00:02:26] So, they are going to be looking at [00:02:28] Excel spreadsheets and doing financial [00:02:30] analysis. [00:02:33] Why in the world is that going to cost [00:02:36] $2.5 billion? [00:02:39] Let us be clear about something. This is [00:02:42] the American people's money. The Federal [00:02:45] Reserve will claim that they are using [00:02:47] their own money from their operations, [00:02:49] but that is misleading. The Federal [00:02:51] Reserve earns money from the interest it [00:02:53] holds on US debt. Who is paying for that [00:02:57] debt? [00:02:58] You. The Federal Reserve also prints [00:03:01] money which you pay for through [00:03:03] inflation. [00:03:05] You are paying for this $2.5 billion [00:03:09] renovation. [00:03:10] Now, what would you want them to use [00:03:12] your money for? Do you think that $2.5 [00:03:16] billion of your money should be spent on [00:03:19] a building for people to look at Excel [00:03:22] spreadsheets? [00:03:24] Or do you think they should give the [00:03:25] money back to the taxpayers? [00:03:28] With the growing outrage over these cost [00:03:30] overruns, Jerome Powell sent this letter [00:03:32] to the Office of Management and Budget [00:03:34] with an explanation. He writes, "Both [00:03:37] buildings were in need of significant [00:03:38] structural repairs and other updates to [00:03:41] make the building safe, healthy, and [00:03:43] effective places to work, including the [00:03:45] removal of asbestous and lead [00:03:46] contamination, complete replacement of [00:03:49] antiquated systems such as electrical, [00:03:51] plumbing, heating, ventilation, and air [00:03:52] conditioning, as well as fire detection [00:03:54] and suppression systems." That is his [00:03:57] description of the renovations. [00:04:00] I think that's a bunch of baloney. [00:04:03] Just from my own personal experience, I [00:04:06] have worked as an accountant on some [00:04:08] very large building projects. I know how [00:04:11] much it costs to remove asbestous. I [00:04:14] know how much it costs to put in a new [00:04:16] HVAC system. It does not cost $2.5 [00:04:20] billion. [00:04:23] I think Jerome Powell is lying. If [00:04:27] there's anyone watching who knows about [00:04:28] construction, can you please confirm in [00:04:30] the comments down below that I am [00:04:32] correct on this? That what Jerome Pal is [00:04:35] describing should not cost $2.5 billion. [00:04:40] Let me show you what the experts are [00:04:42] saying. This is an interview with Bill [00:04:44] Py. Bill Py is the grandson of William [00:04:48] J. Py who founded the PY group which is [00:04:50] the third largest home construction [00:04:52] company in the US. So, Bill Py has been [00:04:55] around construction his whole life. He [00:04:58] is currently the chair of the board of [00:05:00] Fanny May and Freddy Mack. This guy is a [00:05:03] construction expert. [00:05:06] You said something is very very bad. [00:05:08] What What do you suspect is going on [00:05:10] given what you saw there today? Now, you [00:05:12] were outside. I know you're going to get [00:05:13] an official tour um later on this week. [00:05:16] >> Yeah, on Thursday some of the White [00:05:17] House officials, James Blair and Russ [00:05:19] Vote, we're going to go and check it out [00:05:20] and see what the hell's going on on the [00:05:21] inside. But from the outside, you know, [00:05:23] I've been in the construction business [00:05:24] my whole life. $2.5 billion is a lot of [00:05:26] money. I mean, you're spending $2.2 [00:05:28] billion to build an NFL stadium. But I [00:05:31] go outside to this building and they're [00:05:32] taking down marble. By the way, marble [00:05:34] lasts for a long time, right? Hundreds, [00:05:36] if not some cases, thousands of years. [00:05:38] Steel is very strong. They're taking [00:05:39] down the steel. It doesn't make any [00:05:41] sense whatsoever. [00:05:42] >> Are they doing some rewiring for the [00:05:44] internet or something? [00:05:45] >> Well, they can claim anything, but I'll [00:05:46] tell you, it doesn't make sense. It [00:05:48] doesn't make sense. We're going to get [00:05:49] to the bottom of it. Jerome Powell is [00:05:50] the worst Fed chairman in history and I [00:05:53] think it's going to get a lot worse for [00:05:54] Fed Chair Powell. I think most people [00:05:57] understand that these are old buildings [00:05:58] in Washington DC and some level of [00:06:01] renovation is going to be required. For [00:06:03] example, ADA compliance regulations for [00:06:06] handicapped people gets updated on a [00:06:08] regular basis and you have to renovate [00:06:10] your buildings. People understand that. [00:06:13] But with a price tag of $2.5 billion [00:06:16] dollar, something else is going on. The [00:06:20] real question is why is Jerome Powell [00:06:23] lying about it? What is he hiding about [00:06:27] this renovation? News reports have [00:06:29] started to surface that the real reason [00:06:31] for the cost overruns is that Jerome Pal [00:06:34] is putting in high-end opulent [00:06:36] renovations. [00:06:38] The rumors are that he is building [00:06:40] himself a palace. [00:06:42] That would explain the $2.5 billion. [00:06:47] This is not without precedent. If we [00:06:49] look at what central bankers in other [00:06:51] countries have done, they have also made [00:06:53] their central banks to look like [00:06:55] palaces. [00:06:57] Just as an example, this is the central [00:06:59] bank of France. The hallways are full of [00:07:02] fine art and gold trim. Is this what [00:07:06] Jerome Powell is trying to do in [00:07:08] America? Is he copying his fellow [00:07:11] bankers around the world? [00:07:14] I don't understand this at all. It's [00:07:16] like these central bankers are acting as [00:07:19] if they control the world. [00:07:21] Why are they making their buildings look [00:07:23] like palaces? [00:07:25] This week, a letter was sent by the [00:07:27] conservative representative from [00:07:28] Florida, Anna Pelina Luna. This was sent [00:07:31] to the DOJ for potential criminal [00:07:34] investigation and prosecution for [00:07:36] perjury. This is over comments Jerome [00:07:39] Pal made last month at the US Senate [00:07:42] Committee on Banking, Housing, and Urban [00:07:44] Affairs. Just to be clear, committing [00:07:47] perjury is a federal crime, and [00:07:49] penalties may include prison time. [00:07:53] I'm going to show you Jerome Pal's [00:07:54] comments, and I want you to see if you [00:07:57] can tell if he is lying. Would you talk [00:08:01] a little bit about just exactly what's [00:08:02] going on with your building when you [00:08:04] have that type of an overrun on the [00:08:05] prices and you're talking about billions [00:08:07] of dollars in costs? I think it's [00:08:09] appropriate for you to be able to [00:08:10] explain to the committee exactly what's [00:08:11] going on. Would you take a few minutes, [00:08:13] please, and explain what's going on with [00:08:14] the value of that building and why the [00:08:16] costs seem to be so exorbitant. [00:08:19] >> I'd be glad to if I can have that time. [00:08:21] So, please thank thank you for the [00:08:22] letter we received late yesterday. uh we [00:08:24] we will provide a a much more detailed [00:08:27] response, but just generally um I would [00:08:30] just say we do take seriously our our [00:08:33] responsibility as stewards of the of the [00:08:34] public's money. And the other thing I [00:08:37] would start with is no no one in office [00:08:39] wants to do a major renovation of a [00:08:42] historic building during their term in [00:08:44] office. Much prefer to leave that to [00:08:45] your successors. And this is a great [00:08:47] example why, let alone two historic [00:08:49] buildings that needed a lot of work. But [00:08:52] we decided to take it on because [00:08:53] honestly um when when I was the [00:08:55] administrative governor before I came [00:08:57] chair, I came to understand how badly [00:09:00] the Eckles building really needed a [00:09:02] serious renovation. Never had one. It [00:09:04] was not really safe and it was not [00:09:05] waterproof and that kind of thing. So we [00:09:07] took it on. Um I would start by I would [00:09:10] also say that the media reports that you [00:09:12] act accurately quoted, they're [00:09:14] misleading and and inaccurate in in many [00:09:17] many respects. And I would just point to [00:09:18] there's no VPI dining room. There's no [00:09:21] new marble. We took down the old marble. [00:09:23] We're putting it back up. We'll have to [00:09:25] use new marble where some of the old [00:09:26] marble broke, but there's no new there. [00:09:28] No special elevators. There's just [00:09:31] they're old elevators that have been [00:09:32] there. Um there are no new water [00:09:34] features. There's no beehives and [00:09:36] there's no uh and there's no roof [00:09:38] terrace gardens. Other than that, you [00:09:40] know, so all of the all the sort of [00:09:43] inflammatory things that the media [00:09:44] carried are either not in the current [00:09:47] plan or just inaccurate. So, but with [00:09:50] notwithstanding that, the cost overruns [00:09:52] are what they are. So, let me just say [00:09:53] on that, [00:09:54] >> well, let's listen. [00:09:55] >> He says there are no fancy renovations [00:09:57] going on and the cost overruns are what [00:10:00] they are. [00:10:02] I think he is a liar. Let me highlight [00:10:06] one thing he said. When I was the [00:10:08] administrative governor before I became [00:10:10] chair, I came to understand how badly [00:10:12] the Ecklas building really needed a [00:10:14] serious renovation. Had never had one. [00:10:17] Well, it turns out that the building did [00:10:20] have a comprehensive renovation from [00:10:22] 1999 to 2003, including replacement of [00:10:25] the roof, all major systems, and a full [00:10:28] refurbishment of interior and courtyard [00:10:30] spaces. Jerome Powell makes it sound [00:10:33] like the reason the renovations are [00:10:34] costing so much is because nothing's [00:10:36] been improved since the building was [00:10:38] constructed in the 1930s. [00:10:40] That is obviously not true. Why are we [00:10:44] replacing renovations that were put in [00:10:46] place in 2003? [00:10:49] So, right from the start, Jerome Pal is [00:10:51] telling a lie. But he goes on to talk [00:10:54] about the specifics. He says, "There's [00:10:58] no VIP dining room. There's no new [00:11:00] marble. There are no special elevators, [00:11:02] just old elevators that have been there. [00:11:05] There are no new water features. There's [00:11:07] no beehives. And there's no roof terrace [00:11:09] gardens." So he is saying that all these [00:11:13] fancy things that people are claiming [00:11:14] are in the building plans are not really [00:11:17] there. [00:11:19] Let's look at the building plans. I'm [00:11:23] going to show you plans that were [00:11:24] submitted to the National Capital [00:11:25] Planning Commission in 2021. Now part of [00:11:29] the problem is that these overruns have [00:11:30] happened since then. So we do not know [00:11:33] what changes have been added since then [00:11:35] to the plans to cause the overruns. This [00:11:38] is very curious. [00:11:40] Why is Jerome Pal keeping these building [00:11:42] plans a secret? But looking at the [00:11:46] original plans, we start to understand [00:11:48] what is happening. [00:11:50] These yellow sections are new additions [00:11:52] to the buildings that were not there [00:11:54] before. In addition to this, a large [00:11:57] part of the construction is underground. [00:12:00] They are completely digging up the [00:12:02] street that runs between the buildings [00:12:04] and creating an underground tunnel that [00:12:06] links the buildings together. They are [00:12:08] also building a threestory parking [00:12:11] garage underground. [00:12:14] I have never heard of a renovation like [00:12:16] this. Who builds a three-story parking [00:12:20] garage underneath a historic building? [00:12:23] Why didn't they just build an above [00:12:25] ground parking garage someplace else at [00:12:27] a fraction of the cost? I want to draw [00:12:30] your attention to this description from [00:12:32] the building plans. revisions to the [00:12:35] private dining room lobby on level 4. [00:12:40] That sounds like the VIP dining room [00:12:42] that Jerome Pow claims doesn't exist. [00:12:46] The plan also says the West atrium will [00:12:49] function as a space of respit for board [00:12:51] employees with an interior garden and a [00:12:53] flexible event space. That sounds like [00:12:56] the terrace gardens that Jerome Pow [00:12:59] claims doesn't exist. Here's a photo of [00:13:03] the proposed level 4 lounge. [00:13:06] It looks like a palace to me. The plan [00:13:09] also says the governor's private [00:13:12] elevator will be extended to discharge [00:13:15] at the dining suite level. That sounds [00:13:18] like the special elevator that Jerome [00:13:20] Pow claims doesn't exist. [00:13:23] The only thing that doesn't show up in [00:13:25] the building plans are the beehives that [00:13:28] people have been talking about. But it [00:13:30] seems like Jerome Pal is lying about [00:13:32] everything else. Why does Jerome Pal [00:13:36] refuse to release the updated building [00:13:38] plans so that we can all see what [00:13:40] exactly has caused the cost overruns? [00:13:44] It seems like something really [00:13:45] suspicious is going on and it is costing [00:13:48] the taxpayer $2.5 billion. [00:13:53] Here is what Donald Trump says. [00:13:55] Are you completely ruling out the idea [00:13:58] of firing Jerome Pal? [00:14:01] >> I I don't rule out anything, but I think [00:14:03] it's highly unlikely unless he has to [00:14:06] leave for fraud. I mean, it's possible [00:14:07] there's fraud involved with the uh 2.5 [00:14:11] 2.7 billion renovation. This is a [00:14:14] renovation. How do you spend $2.7 [00:14:16] billion? [00:14:18] Uh and he didn't have proper clearance, [00:14:20] etc., etc. So, you know, that's going [00:14:22] on. So, you know, there could be [00:14:24] something to that, but I think he's not [00:14:26] doing a good job. He's got a very easy [00:14:28] job to do. You know what he has to do? [00:14:30] Lower interest rates. Donald Trump says [00:14:33] this might be fraud. [00:14:35] This is Donald Trump, who has worked on [00:14:38] many large construction projects and he [00:14:40] looks around at all these facts and [00:14:43] thinks of fraud. [00:14:45] Now, just to be clear, Jerome Pal has [00:14:47] not been charged with anything. He [00:14:50] deserves his day in court. [00:14:52] But I showed you the evidence for [00:14:54] perjury that he was lying to Congress [00:14:57] about the renovations. [00:14:59] So, we will see if the Department of [00:15:00] Justice starts to investigate that. But [00:15:03] I have to say that I agree with Donald [00:15:06] Trump. If Jerome Pal is lying about $2.5 [00:15:10] billion, [00:15:12] that might be fraud. [00:15:14] I think we should be asking how long [00:15:17] would someone go to prison for [00:15:19] committing $2.5 billion of fraud. [00:15:24] He could be looking at 20 to 30 years in [00:15:27] prison, which would be for the rest of [00:15:29] his life. Treasury Secretary Scott Bent [00:15:32] has come out and said this. [00:15:35] >> Look, then there's the Fed. And of [00:15:36] course, you've been calling for a review [00:15:38] of the entire Federal Reserve, saying [00:15:39] that the scrutiny should go beyond this [00:15:41] $2.5 billion headquarters renovation [00:15:43] that we've been talking about and [00:15:45] examine the Fed's overall role. What do [00:15:47] you want to see happen? [00:15:49] >> Well, you know, Maria, I I think that [00:15:51] this is an opportunity. And, you know, [00:15:54] to be clear, I am calling for an [00:15:56] internal review, an internal review. And [00:16:00] I think that this could be J. Powell's [00:16:02] legacy that the the Fed since the great [00:16:06] financial crisis has had what I call [00:16:09] gain of function monetary policy and you [00:16:12] know the the expenses have gone up a [00:16:14] lot. Uh the the Federal Reserve Board [00:16:17] expenses uh since 2004 are up 4x 4x you [00:16:22] know I I can tell you at Treasury we cut [00:16:25] our expenses about 17% last year. So, I [00:16:29] I think that this is a chance the Fed [00:16:32] does a regular review of their monetary [00:16:35] policy framework. I think that this is a [00:16:39] good p good opportunity for Chair [00:16:41] Powell's legacy to do an internal review [00:16:45] of all the Fed's operations away from [00:16:48] the monetary policy function. [00:16:50] >> Yes, Scott Bent is calling for an [00:16:53] internal review of the Fed. [00:16:56] People have been calling for this for a [00:16:58] long time. I know that I personally have [00:17:01] watched in frustration as the Fed takes [00:17:03] on more and more activities that they [00:17:06] have no authority to do. Scott Bent said [00:17:09] that the Federal Reserve Board expenses [00:17:11] since 2004 are up 4x. [00:17:16] That is insane. [00:17:18] They have quadrupled in size. [00:17:21] It is supposed to be just a bunch of [00:17:23] economists looking at spreadsheets. [00:17:26] Why are they doing this? I will tell you [00:17:30] what they have been doing. They've been [00:17:32] doing things like studying central bank [00:17:34] digital currency or CBDC, which is one [00:17:38] of the greatest threats to your freedom. [00:17:41] >> There are members that vehemently oppose [00:17:43] CBDC's. They do not want to see that [00:17:45] happen in the United States. The Chinese [00:17:46] can do what they want. The Europeans can [00:17:48] play with it if they choose to. But in [00:17:50] America, we have our economic system. [00:17:53] The bedrock of it is our trust system. [00:17:56] Meaning that people know that when you [00:17:58] spend your money, you don't have big [00:18:00] brother over your shoulder figuring out [00:18:02] what you spent it on, how you're going [00:18:03] to go about doing it, so on and so [00:18:05] forth. And we just want to make sure [00:18:07] that there is no regulatory or legal [00:18:11] framework for the Federal Reserve to [00:18:13] ever create a central digital currency, [00:18:16] a central bank digital currency. [00:18:18] >> Luckily, just last week, Congress passed [00:18:21] legislation to block CBDC called the [00:18:24] Anti-CBDC [00:18:25] Surveillance State Act. This bill is [00:18:28] explicit saying the board of governors [00:18:31] of the Federal Reserve system may not [00:18:33] test, study, develop, create, or [00:18:35] implement a central bank digital [00:18:37] currency. [00:18:39] Now, I first reported two months ago [00:18:41] that the Federal Reserve has a web page [00:18:43] up talking about their studies on CBDC, [00:18:46] saying a CBDC would be the safest [00:18:49] digital asset available to the general [00:18:51] public with no associated credit or [00:18:54] liquidity risk. [00:18:56] This page is still up on their website. [00:19:01] Why is the Federal Reserve promoting [00:19:03] CBDC when Congress just passed a law [00:19:07] banning it? What about quantitative [00:19:10] easing? [00:19:11] The Fed started buying assets, [00:19:13] ballooning their balance sheet during [00:19:15] the economic crisis in 2008. They did it [00:19:18] again during the economic crisis in [00:19:19] 2020. [00:19:21] Quantitative easing is basically the Fed [00:19:24] buying enough assets to artificially [00:19:26] prop up prices in financial markets. [00:19:29] Quantitative easing was supposed to be [00:19:31] temporary, but what Jerome Pal did was [00:19:34] make it a permanent part of the Fed's [00:19:36] banking operations. [00:19:38] Guess who pays for that? [00:19:41] You do. You are paying so that Jerome [00:19:45] Pal's buddies on Wall Street can get [00:19:48] rich. [00:19:49] That will be Jerome Pal's legacy, [00:19:53] screwing over the American people in [00:19:55] order to bail out Wall Street. [00:19:58] It is no wonder that he is building [00:20:00] himself a palace. [00:20:03] On Thursday, Donald Trump himself went [00:20:05] to tour the construction at the Federal [00:20:07] Reserve to see what was going on. [00:20:11] >> Well, thank you very much. We're looking [00:20:12] at the construction and uh we're with [00:20:15] the chairman, as you know. Chairman, [00:20:17] come on over. [00:20:19] and we're just taking a look at what's [00:20:21] happening. You know, it's a it's a tough [00:20:23] construction job. They're building [00:20:24] basements where they didn't exist or [00:20:27] expanding them and a lot of very [00:20:29] expensive work. There's no question [00:20:30] about it. [00:20:31] >> As a real estate developer, what would [00:20:33] you do with a project manager who would [00:20:35] be over budget? [00:20:38] >> Uh, generally speaking, what would I do? [00:20:40] I'd fire him. [00:20:41] >> Do you think this is [00:20:42] >> It sounds to me like Trump knows what he [00:20:45] is doing. In my opinion, I think we [00:20:49] should fire Jerome Powell, but I don't [00:20:52] think that goes far enough. I have shown [00:20:54] you the evidence for perjury and $2.5 [00:20:58] billion of fraud. [00:21:02] I also agree that we should perform a [00:21:04] full internal review of the Federal [00:21:06] Reserve. We deserve an explanation of [00:21:09] why they have quadrupled in size and why [00:21:12] they're taking on all these extra [00:21:13] activities that they have no right to do [00:21:16] under the law. The Fed has one job, to [00:21:20] raise interest rates or lower interest [00:21:22] rates. That is it. I do not understand [00:21:26] why they need a $2.5 billion building to [00:21:29] do that. We deserve an answer from [00:21:32] Jerome Pal about why it looks like he is [00:21:35] lying about all this evidence. [00:21:39] Now, I want to hear from you. Do you [00:21:41] think Jerome Pal is a criminal? Let me [00:21:43] know in the comments down below. And if [00:21:45] you like this video, don't forget to hit [00:21:47] that subscribe button so you don't miss [00:21:49] out on future videos. If you find my [00:21:51] videos helpful, consider signing up for [00:21:53] a membership on my website, [00:21:54] wolvesenfinance.com. [00:21:57] For $6 a month, your support helps me to [00:21:59] keep making these videos. Thank you to [00:22:02] everyone who has signed up. I'm Zach [00:22:05] from Wolves and Finance. Thank you for [00:22:07] watching. [00:22:21] [Music]