Trump to return to the gold standard?

11C1P

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http://www.businessinsider.com/trum...ank-ceo-abolish-the-fed-gold-standard-2016-11

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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pmbug

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Well, that didn't last very long...

Former Goldman Sachs Partner Steve Mnuchin and billionaire investor Wilbur Ross have confirmed their selections by U.S. President-elect Donald Trump to lead the Treasury and Commerce Departments respectively. ...
https://finance.yahoo.com/news/trumps-cabinet-adds-mnuchin-ross-125210874.html

President-elect Donald Trump has tapped Steven Mnuchin, a former Goldman Sachs banker who profited from the housing meltdown, as his Treasury secretary, according to an official briefed on the decision.

Mnuchin's career has been full of contradictions. He started as a Wall Street insider working for old-line firms before running a series of eclectic businesses -- including his own hedge fund and a West Coast consumer bank. In recent years, he has been a Hollywood movie producer.

He served as finance chairman of Trump's presidential campaign and has been one of Trump's closest economic advisers. His nomination will be announced as soon as Wednesday, the official said.

Democrats immediately signaled their strong opposition to the expected nomination, which would require Senate confirmation. In a statement, the Democratic National Committee quipped "So much for draining the swamp." The DNC added that "nominating Steve Mnuchin to be Treasury Secretary... is a slap in the face to voters who hoped he would shake up Washington."
...
http://money.cnn.com/2016/11/29/news/economy/donald-trump-steven-mnuchin-treasury/index.html
 

rblong2us

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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.
 

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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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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.
 

rblong2us

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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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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.
 

rblong2us

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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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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.
 

11C1P

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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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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/politics/parkland-school-shooting-broward-deputies/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.
 
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