By Ben Meiselas
Hi all, it’s the start of yet another week. Per usual under the Trump regime, the week began not with calm, but with chaos. Let’s get into it.
Donald Trump’s launch of a criminal investigation into the chair of the Federal Reserve, Jerome Powell (the man he appointed, by the way) is collapsing under the weight of its own corruption. What was meant to be yet another show of authoritarian force from this regime has instead triggered a wave of bipartisan condemnation and a rare unified rebuke from former leaders of the nation’s most important economic institutions.
Before I get into the details, I want to thank all of you for your words of support for our on-the-ground coverage of the ICE protests in Minneapolis. Our partners at Status Coup are still out there, and MeidasTouch contributor Ken Harbaugh is on the ground getting interviews, footage, and eyewitness reporting. Your support is powering this coverage at a moment when the country needs eyes on the truth more than ever. And a reminder: Ron Filipkowski’s full bulletin will be out later today.
Now to the news.
Trump began his morning by attacking Powell again and attempting to spin the criminal investigation he ordered as legitimate. But the backlash was swift and severe. Republican lawmakers, not exactly known for standing up to Trump, are now publicly demanding an investigation not into Powell, but into Trump’s own Department of Justice for its weaponization of federal law enforcement. They are calling this what it is: coercion.
Republican Senator Lisa Murkowski said after speaking with Powell, “it’s clear the administration’s investigation is nothing more than an attempt at coercion,” pointing out that cost overruns on federal projects are not unusual and certainly not grounds for a criminal probe. She warned that if Trump destroys the Fed’s independence, “the stability of our markets and the broader economy will suffer.”
Senator Thom Tillis went further. He is blocking Trump’s nominees to the Federal Reserve and the Department of Homeland Security until the DOJ’s conduct is investigated. Tillis also noted that Kristi Noem has refused to show up before Congress and that Trump’s nominees will be frozen indefinitely until this abuse of power is addressed.
These comments alone show how deeply destabilizing Trump’s actions have become, even among Republicans. But the most striking development came from a group of former Federal Reserve chairs, former Treasury secretaries, and leaders of both political parties who issued a blistering statement condemning Trump and defending Powell.
Their warning was clear: criminally targeting the Fed chair is how “emerging markets with weak institutions” operate, with corrosive effects on inflation and economic stability. And they stressed that this behavior “has no place in the United States,” which relies on an independent central bank as the backbone of its economic strength.
Think about what it takes to get Ben Bernanke, Alan Greenspan, Janet Yellen, Henry Paulson, Jacob Lew, Glenn Hubbard, Timothy Geithner, Jared Bernstein, and Jason Furman — Democrats and Republicans — all aligned behind one statement. This doesn’t happen unless the threat is real and catastrophic.
Meanwhile, Trump is bragging online that he “saved NATO,” even as his threats to invade Greenland are forcing NATO allies to consider placing forces on the island to stop the United States from attacking a fellow NATO member. That is how deranged and dangerous this moment has become. World leaders are now preparing defenses against the United States because of Trump’s instability.
Trump is also falsely declaring himself the “acting president of Venezuela,” prompting Senator Amy Klobuchar to say, “Trump is posting about being the acting president of Venezuela when he’s not even acting like a president at home.” She’s right. His attention is everywhere except where it belongs, and the consequences are spreading across continents.
Inside the regime, Trump’s top economic advisers are flailing to justify this chaos. Kevin Hassett absurdly claimed that a criminal investigation into a public official should be “welcomed.” Peter Navarro echoed the same nonsense, attacking the very idea of Fed independence and trying to blame inflation on Biden and Powell despite Trump’s own reckless policies and economic sabotage.
Not to be outdone, MAGA lawmakers are on TV defending Trump’s paramilitary-style ICE operations and the killing of Renee Nicole Good. Instead of condemning the violence, they are calling for the arrest of Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Frey. They claim local officials are “provoking anger against ICE,” as though the public outrage at state-sponsored brutality is somehow the problem rather than the brutality itself.
Democratic Senator Mark Warner, on CNBC, exposed the regime’s dangerous undertraining of ICE and Border Patrol — training periods slashed from five months to just 47 days, deliberately chosen because Trump is the 47th president. Warner also pointed out that Trump has deployed American forces into multiple foreign conflicts without congressional authorization, including off the coast of Venezuela. British and German forces are now moving into Greenland to deter Trump from provoking a NATO-wide conflict. The United States is actively destabilizing alliances it spent generations building.
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And we need to keep talking about Kristi Noem’s reaction to the killing of Renee Nicole Good. When shown footage of ICE agent Jonathan Ross shooting Good three times in the face and then calling her a “fucking bitch” as she lay dying, Noem smirked. That moment, her smirk as an American citizen’s life was taken by Trump’s paramilitary forces, captures the moral rot of this regime.
This is where we are on Monday afternoon. A president weaponizing the DOJ against the Federal Reserve. Allies preparing for potential U.S. aggression. A bipartisan coalition of former economic leaders warning that Trump is dragging the country toward the instability of collapsing nations. And Trump’s enablers defending state violence against civilians while calling for the arrest of governors and mayors.
We will continue covering all of this in real time. Don’t let anyone gaslight you by pretending any of this is normal. Thank you again to everyone supporting our on-the-ground reporting in Minneapolis. Stay tuned for Ron Filipkowski’s bulletin later today, and stay vigilant.
