Loading ...Gold vs. Trump Administration
THE MOST INFLUENTIAL PEOPLE IN THE TRUMP ADMINISTRATION TURN OUT TO BE GOLD STANDARD FANS
In a speech at the Detroit Economic Club in November 2010, he (Mike Pence) said, and I quote:
“…My dear friend, the late Jack Kemp, probably would have urged me to adopt the gold standard, right here and now in Detroit. Robert Zoellick, the president of the World Bank, encouraged that we rethink the international currency system including the role of gold, and I agree. I think the time has come to have a debate over gold, and the proper role it should play in our nations monetary affairs. A pro-growth agenda begins with sound monetary policy…”
Since 1971 WH and FED have never utter word “Gold”. Will it change??????
It would be great if it happened, but most politicians/economists don’t want their hands tied by having to follow a gold standard. Digital money (1’s and 0’s in a computer) give them the flexibility to borrow and spend as they please – unfortunately.
I remember some member of CONgress saying, when the subject of a balanced budget amendment came up, that “we” don’t need a balanced budget amendment.
Pretty clear to me that his “we” and our “we” (as a nation) aren’t the same.
Could have been Harry Reid. But it could well have been virtually anyone else there too.
No fixed exchange rate of $US to gold will work. What would work is allow people to chose to use the gold and silver coins produced at the US mint as money. Several changes would need to be made such as; 1. Remove all forms of taxation on the purchase or sale of these coins, i.e.. sales taxes and capital gain taxes. 2. Declare the stamped $ value on existing coins as void and all new coins will be issued with no face value only weight and purity. 3. Some of the legal tender laws must be changed to allow these coins to be used. 4.Treasury will provide a continuing market bid/ask quote as to what they will buy or sell for paper currency these coins for reference of value.