Real Vision Founder: The power of liquidity operations is shifting from the Federal Reserve to the Treasury, and central bank independence will disappear

Real Vision co-founder and CEO Raoul Pal posted that the liquidity operation authority is shifting from the Federal Reserve to the Treasury Department, allowing the (Trump administration) to more directly control debt financing and rollovers, using banks as channels and issuing notes as a liquidity injection mechanism. This is essentially a currency devaluation through fiscal dominance, eliminating the so-called "independent" central bank's "apolitical" checks and balances.