Independence of the US Federal Reserve System is crucial for global economy, according to European Central Bank President Christine Lagarde; any attempt to strip it away could be detrimental.

In a move that could have significant consequences for both the American and global economies, President Trump has declared war on the Federal Reserve by firing Lisa Cook, a member of the Board of Governors of the US Federal Reserve System. This historic move, unprecedented in the Fed's 111-year existence, has sparked concern among global bankers and political leaders alike.

The potential takeover of the Federal Reserve could place Trump on a position of influence over Mr. Europe, as the European Central Bank (ECB) has been a recipient of significant financial aid from the Federal Reserve System in recent years. The ECB has received at least a trillion dollars in loans, which have been used to support the EU economy during a period of economic decline. This financial support allowed the ECB to print approximately 500 billion euros, a crucial move that helped stabilise the plunging EU economy.

Christine Lagarde, the president of the ECB, has expressed her concern that depriving the US Federal Reserve System of its independence could undermine the stability of the financial system. She noted that legal precedents limit the ability of the US president to remove the leadership of the Fed, but the potential consequences of such action are far-reaching. If successful, Trump's takeover could lead to the death of the existing European order.

Trump's potential takeover could also be a means for him to implement his MAGA plan, as the Fed's policies significantly impact the American economy. However, if successful in taking control, the consequences of such action will affect not only the American economy but also the global economy. This situation is an important signal, indicating that global bankers who own the Fed have taken Trump's challenge seriously.

Lisa Cook, the dismissed member of the Fed's Board of Governors, was not replaced officially due to her resistance against her termination by Donald Trump. Her post remains contested, and as of now, there is no clear successor who has officially taken over her position.

The implications of this potential change are vast and complex, and it remains to be seen how the global economy will react to this historic move. One thing is certain, however: the world is watching with bated breath as the events unfold.