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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times | ![]() As President-elect's Donald Trump's transition rolls on, more and more attention is being paid to possible selections for a variety of high-ranking positions and meetings that might help decide these appointments. On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute. There have been reports that Allison is being considered for Treasury secretary. Trump's has on the campaign trail questioned the future of the Federal Reserve's political independence, but Allison takes that rhetoric a step further. While running the the Cato Institute, Allison wrote a paper in support of abolishing the Fed. "I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed," Allison wrote in 2014 for the Cato Journal, a publication of the institute. Allison said that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system. "When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult," Allison wrote. "Markets do form bubbles, but the Fed makes them worse." Allison also suggested that the government's practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by "a market standard such as gold." Allison also argued for higher capital reserves of up to 20% of assets at banks. On the other hand, he also argued that the government should repeal three of the broadest banking regulations. "We should raise capital standards, but it is even more important to eliminate burdensome regulations — including Dodd-Frank, the Community Reinvestment Act, and Truth in Lending," Allison wrote. "About 25 percent of a bank's personnel cost relates to regulations. Banks cannot pay the regulatory costs and have high capital standards." This is similar to Trump's desire to roll back regulation — including Dodd-Frank — on financial institutions, though he has since backtracked somewhat. It is unclear if any of Allison's policy views will ultimately become a part of Trump's plan, but given the unconventional nature of his ideas, the meeting is notable.
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,094
Liked: 2456 times | Well, that's interesting. I was aware that one of Trump's campaign advisors, Judy Shelton, is a sound money advocate: http://fortune.com/2016/08/18/trump-...-judy-shelton/ https://www.atlasnetwork.org/about/p...y-shelton-ph.d I wasn't sure how much influence she had ... or, how much real interest Trump has in currency policy. The meeting with Allison is encouraging news IMO.
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,094
Liked: 2456 times | Well, that didn't last very long... Quote :
Quote :
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Yellow Jacket Join Date: Nov 2011 Location: off world
Posts: 1,996
Liked: 882 times | disappointing choices but someone recently said if you had just been given a nuclear submarine to play with you would probably choose a crew who had experience of operating one ...... And we know Trump will not hesitate to fire anyone he deems incompetent once he has found a potential replacement for them.
__________________ if it cant be done with a digger .... it cant be done |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,094
Liked: 2456 times | He's getting a bit of flak over the Mnuchin selection. Trump campaigned on "draining the swamp" and appointing an ex-Goldman Sachs banker isn't consistent with his campaign rhetoric (especially when he railed against HRC's ties to Goldman Sachs and Wall Street). Not sure that it's going to make a difference though. I doubt the Senate is going to seriously push back on the selection.
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Fly on the wall Join Date: Jan 2018
Posts: 32
Liked: 0 times | We all know that gold and silver represent the biggest investment. |
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Predaceous stink bug Join Date: Mar 2012
Posts: 108
Liked: 42 times | Obama and W also made claims of peace and transparency that not only did not come to fruition but they did the exact opposite. Trump is a quick learner. |
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Yellow Jacket Join Date: Nov 2011 Location: off world
Posts: 1,996
Liked: 882 times | Think Trump has made a deal with the Military Industrial Complex. He couldnt take em all on so he plays to the MIC and they have his back. You could amost fix the moment that he did this, as he seemed to go from anti war to full warmonger in a weekend Once he has successfully sorted the FBI and the Judiciary, it will be interesting to see if he still has to drum up enemies for the MIC to justify tax dollars on .....
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Predaceous stink bug Join Date: Mar 2012
Posts: 108
Liked: 42 times | Yeah, I think when he bombed Syria in retaliation for the gassing (which was a false flag) is when I lost all hope of him "draining the swamp" or doing anything honorable went out the window. |
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Yellow Jacket Join Date: Nov 2011 Location: off world
Posts: 1,996
Liked: 882 times | Yes thats pretty much how I saw it. But he couldnt take on the entire swamp all at once and did a deal. So an expensive military parade and increased 'defense' spending .......... And so it requires a level of understanding and a cool head if you are an official 'enemy' of the USA to avoid getting sucked into a response, whilst not appearing to show weakness.
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,094
Liked: 2456 times | I think Mr. Benko was reading much more into Trump's statement than what was intended. It was a dog whistle for nationalism and nothing else IMO.
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Ground Beetle Join Date: Aug 2013 Location: North Dakota
Posts: 967
Liked: 504 times | I think so too, but we can dare to hope. Maybe it will keep his mind off banning guns & other stupid shit, but I doubt it.
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Ground Beetle Join Date: Oct 2011 Location: Here, There, and Everywhere
Posts: 633
Liked: 388 times | Its going to take a lot to keep anyone's mind off of banning guns as long as the Democrats DELIBERATELY stand by and ALLOW mass murders of children like Coward Sheriff Israel did in Florida per the Coral Springs Police department. It looks like Coward Israel COMMANDED his deputies to STAND DOWN and ALLOW the carnage to continue UNTIL the Coral Springs Police arrived and stopped the shooting. It also looks like Coward Israel deliberately allowed the carnage to continue unabated for HIS OWN POLITICAL GAIN. And it appears that he is a dyed in the wool Democrat. https://www.cnn.com/2018/02/23/polit...ies/index.html There is NO HOPE that the gun controversy will die down as long as CHILDREN are ALLOWED to be massacred to advance gun control.
__________________ If you keep doing what you are doing, You will keep getting what you are getting. If you don't like what you are getting, You must change what you are doing. http://mmerlinn.com GOLD is the money of KINGS. SILVER is the money of GENTLEMEN. BARTER is the money of PEASANTS. DEBT is the money of SLAVES. - Norm Franz |
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