Loading ...Trump wants a Gold Standard and this is how he can end the Fed…
I’m more and more convinced this is going to happen. Trump wants to end the Fed or atleast end most of their influence. He wants to restrain spending. He has publicly said many times he wants a gold standard. This could make America much better financially and cause the dollar to roar…
Donald Trump before the election: “We used to have a very, very solid country because it was based on a gold standard,” he told WMUR television in New Hampshire in March last year. But he said it would be tough to bring it back because “we don’t have the gold. Other places have the gold.”
Trump’s comment to GQ: “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money.”
Do we have the gold? Trump doubted we had it. Maybe Trump knows we have the gold now….
How much does the USA supposedly have? The most in the world by far…
If there were ever a must read this is it from early 2017. Trump seems to be following this playbook, even appointing the pro-gold Standard Judy Shelton, like recommended.
“We have the gold”. Bringing back the gold standard would not be very hard to do they argue.
From the article:
“Trump’s politically unique intuition that ‘We used to have a very, very solid country because it was based on a gold standard’ is no trivial matter. It is true……
What would be the outcome of Trump’s following his instincts and going for the gold?
Prosperity, that’s what……
I want the American Dream back. We all do, very much including President Trump.
How might President Trump go about turning this around? He has a unique opening to forcefully pivot America toward epic prosperity.
As Paul-Martin Foss of the Menger Center astutely points out the Federal Reserve Board currently has three vacancies. If Trump were to fill those vacancies with three sophisticated gold standard advocates from the short list of Lewis E. Lehrman (whose eponymous Institute I formerly served), Dr. Judy Shelton (who served as an advisor on his presidential economic transition team), former presidential candidate Steve Forbes, and John Allison, former CEO of BB&T (preferably as vice chairman for regulation) the president would create a super “beachhead team” at the Fed to seriously restore equitable prosperity.
These appointments would be the safe and sure first steps out of economic stagnation for America. Couple these with a White House “Team B” to plan the enactment of the Jack Kemp Gold Standard Act and removal of the regulatory and tax barriers to using gold as currency. Then watch an American economic miracle take place.
Mr. President: “No such thing as a global currency?” The dollar is the global currency. Want prosperity? Heed Chairman Greenspan and do not just view but restore “gold as the primary global currency.” President Trump: replace the dollar with gold as the global currency to make America great again. We have the gold.”
https://www.americanthinker.com
From the article:
“Some pundits believe that the gold standard could be America’s ticket to getting out of debt, or, at worst, balancing its federal budget.
Is It Even Practical?
As with most economic issues, there are pros and cons associated with a return to the gold standard. The benefit, as Williams touched on, is that it would rein in irresponsible spending by the Fed and possibly help the country get out of debt.
The biggest negative is that it would seriously constrain what the Fed can and can’t do. (Many would say this is actually a positive.) While it’s easy to disagree with what the Fed chooses to do at times, the ability to influence the economy through monetary policy is important.
In terms of practicality, moving to a gold standard is certainly possible. Most countries keep the majority of their foreign reserves in gold already, and whatever the U.S. decides to do – since most currencies are currently backed by the dollar – would almost certainly be accommodated by other countries.
But practical and probable are two different things.
It would take a lot for the U.S. to move back to a gold standard, and with so many other issues on President Trump’s plate at the moment, it’s hard to imagine that this is the administration’s biggest priority. But if anyone were to do it, it would probably be he.“
Sounds radical, but I certainly wouldn’t rule this out. Gold would need to be ‘valued’ several times higher than current values in order to achieve this.
interesting, thanks chuck
During 1933 when gold was revalued here how it went:
1) gold was confiscated at price $20. price at the time.
2) later price of gold was revised upward means currency was devalued by 75% to $35 per oz.
So watch out the first step of confiscation. Yes he is the only only one can do it to hurt avg Americans. AND he is being do it to enrich himself.
The fact that this post can be credibly written, is all one really needs to grasp the potential value of having Trump in the WH. He may or may not be able to make headway on this project, but he understands what it meant to America’s (and the world’s) past prosperity FOR THE MIDDLE CLASS. Today, financial giants and governments soak the working classes, skimming off whatever they can. Gold restores DISCIPLINE to the rampant spending that steals more from our futures and posterity’s future. This is likely a one off opening; they will seal the exits before they ever allow someone with his inclinations to take office again.
“… they will seal the exits before they ever allow someone with his inclinations to take office again.”
— one can only hope that is true.
This whole post is nothing more than pushing political propaganda. It’s mirroring the village idiots 4th of July party, just more propaganda.
I’ve riled against this religious and political crap in the past!
Thank goodness most everyone knows to keep this stuff off the forum!
Showing that Trump wants a gold standard and showing the pressures on him to do it are political? Please explain.
Isn’t this an economic and gold site?
Do you think the gold standard would be good or bad?
I agree with Steins
No this is NOT a political Site |
No we do not deal with conspiracy theories and “Fundamentals”
This place is all about charting.
Two quotes from your Forbes article:
“The dollar’s burden as the international reserve currency, not currency manipulation by our trading partners or bad treaties, is the true villain in the ongoing melodrama of crummy job creation. ”
” … and very mediocre job creation under President Obama. Sad! ”
And then you have this chart: https://www.dropbox.com/s/sjtcvk3n13xthmg/jobGrowth.png?dl=0
https://goldtadise.com/wp-content/uploads/2019/07/jobGrowth.png
The chart ( I can’t figure out how to attach charts anymore, the instructions don’t match my experience) seems to refute the whole premise of the article concerning employment. If they are that wrong on that topic, can any of their analysis be trusted.
Are you wanting this discussion to go in a different direction?
I was hoping to show that Trump likes the gold standard, dislikes the Fed, and that there are pressures on him to do it. I was also hoping we could stick to the gold standard discussion and if it would help America.
Can we do that please?
Do you think the gold standard would be good or bad?
Chuck…How can a Gold Standard be implemented at this point in time with astronomical debt in the US and all around the globe ?
IF you try to back the US Dollar with Gold as was the case before Nixon closed the Gold Window….the Debt will first need to be repudiated. as in vaporized.
How will that help the middle class ? The banks would be closed…pensions vaporized etc.
and then have foreign countries try to balance their accounts they could again ask for gold in lieu of dollars ?
USA would have to oblige !
This is NUTZO talk.
We are way past the point where a Gold Standard could be reinstated.
The effect of a gold standard would be hyper deflation !
the economy would cease to be….back to the stone age.
You are not thinking this through.
This is BS to the nth degree IMHO.
Why do these economists at Forbes and at Free American thinker say that the gold standard is a great first step at bringing financial discipline and helping us pay back the debt you say has to be defaulted on?
Because I don’t believe they have thought this through.
You cant just say OK…yesterday was a fiat world now tomorrow we are on the Gold Standard.
That would mean NO more lending !
Its like raising rates by 20% IMHO
It would stop all commerce.
Trump wants MORE lending…he wants zero rates or better yet negative…
He wants the opposite of a Gold Standard
He may say the words Gold Standard ( which sounds great to a lot of people ) ! But does he have a clue what that would mean ?
No !
The average Joe has NO Gold to pay back his debt….and never will if its priced at $100,000 an ounce or whatever it would need to be.
I CERTAINLY DO NOT KNOW ALL THE MACHINATIONS REQUIRED TO BRING BACK A GOLD STANDARD…BUT USING COMMON SENSE AND REASON IT”S OBVIOUSLY NOT A GOOD THING TO STOP LENDING AT ZERO AND NORMALIZE RATES AT THIS POINT IN TIME. THE USA CAN BARELY PAY THE INTEREST ON IT’S DEBT NOW WITH NEAR ZERO RATES.
GOLD STANDARD = HYPER DEFLATION
You’re right, Fully…but only partially so.
An International Gold Standard is possible even if national gold standards are extremely unlikely.
The guy who wrote this piece almost 11 years ago sold ALL his silver at $47 per ounce but kept his gold by hedging it. He’s not infallible – but he’s pretty damn smart – and always said it could take a decade for the international community to arrive at the place where such a system between nations would be preferrable to the fiat “Dollar System” as it presently is.
https://goldtadise.com/wp-content/uploads/2019/07/The-Fourth-Currency-Eric-Janszen-11-17-08.pdf
I posted a comment in reply to Fully a short while ago that got lost. So trying again.
First, PC was correct using “strategic” up above.
Yes, Trump wants lower rates NOW. To ensure growth into election.
THEN, after winning a second term, he can tackle the politically harder issues, like banking reform.
To answer PC, no I don’t think a gold standard is necessary OR sufficient.
See wiki on the Chicago Plan for the beginnings of real reform.
BUT .. as Jeff Snyder points out, we live in a world of xeno dollars now, and that makes it more complex to avert booms from credit excesses. When anyone can create electro dollars.
As for the hyperdeflation. Its coming one way or another. Read von Mises.
Trump knows that too. Russia and China are preparing for that day. The West has not. Until now. That’s what Shelton’s nomination means. Someone is thinking FAR down the road. For a change.
Thank you guys for the respectful discussion.
We may find out if the gold standard is good or not. Many people including Greenspan and Ron Paul think it would be good.
Also Fully, the Fed may claim to be “apolitical” but you and I both know they’re as “deepstate” as it gets and have their masters best interests in mind. What do their Masters want? They want Trump out. That’s why you’re seeinf a war between Trump and the Fed. The Fed knows that if they raise rates they’ll bring down the economy just in time for the election as Steins points out.
I guarantee the strategists to get Trump out absolutely want rates risen now and raised hard to bring down everything.
” but you and I both know they’re as “deepstate” as it gets and have their masters best interests in mind. What do their Masters want? They want Trump out. ”
You are heavy into “never gonna be able to disprove it” conspiracy weirdo stuff. But it seems the FED needs to talk to their masters again — they seem to be signaling a rate cut.
Gold Standard: https://www.kitco.com/news/2019-07-10/Powell-Pours-Cold-Water-On-The-Idea-Of-a-New-Gold-Standard.html
exactly
I agree Kemmrich
Everybody in this Gold Space is always looking for scapegoats.
We don’t want easy money?
Who here does not or has not borrowed ?
Who is debt free ?
By borrowing against future earning are we not ALL to blame fro this massive credit “bubble”?
Blame the Fed and Globalists and Deep State and and and…but if you don’t like free money…stop borrowing it
Lead a simpler life.
We want to bite the hand that feeds us ?
sheesh