By CCN.com: Donald Trump might frequently complain about the Federal Reserve and Jerome Powell, but until now no one cared. His latest move to recommend Stephen Moore for a seat on the Fed’s board is potentially explosive, with ripple effects that could hit the global monetary system hard. Puppet central banks and inflation go hand in hand, so over the long-term, this could be extremely bullish for Bitcoin.

Trump’s Assault on Fed’s Independence Could be Great for Bitcoin

The Federal Reserve has always been sacred. Presidents will appoint yes-men in every walk of life to ensure they get their agenda passed, but the Fed was still where you picked the best person for the job. By preparing to nominate the unqualified-but-loyal Moore, Trump is performing an almost sacrilegious act in the eyes of the establishment.

Why are the stakes so high? The US dollar is the world’s currency as 62% of all central bank holdings are in USD. The conventional economic system cannot survive a lack of credibility in the dollar. This is where an alternative, deflationary asset like Bitcoin can enter the fray.

Puppet Central Bank = Spiraling Inflation

Central banks that lose their independence nearly always suffer from spiraling inflation, mainly because poor policy decisions and a lack of confidence from investors abroad cause capital flight. Venezuela and Zimbabwe are two notable examples. Even in Turkey, where the CBT does retain some independence, strong words from the ruling party were enough to spook investors away for fear there was a transitioning dictatorship.

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