1 week ago
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Senator's call to abolish the Federal Reserve represents a growing sentiment among “sound money” advocates and Bitcoin maximalists
Elon Musk appeared to support a call to end the Federal Reserve Bank in the United States after reposting a tweet from Utah Senator Mike Lee — who called for greater executive oversight over monetary policy and abolishing the central bank.
Lee argued that Federal Reserve Chair Jerome Powell’s recent assertion that he would not resign from his post, even if asked to by incoming President Donald Trump, represented an out-of-control system. Lee wrote via his social media account:
Lee’s call to abolish the Federal Reserve Banking System represents a growing sentiment among “sound money” advocates and Bitcoin (BTC) maximalists — who argue that centrally managed fiat currencies are prone to monetary inflation and currency devaluation.
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