Trump’s Fed Picks Have Fond Memories of the Gold Standard
Trump’s Fed Picks Have Fond Memories of the Gold Standard –Bloomberg
“Both of President Donald Trump’s apparent picks for open seats on the Federal Reserve Board of Governors, Stephen Moore and Herman Cain, are interested in fixing the price of the dollar in quantities of gold – bringing back a system that President Richard Nixon abandoned in 1971….While campaigning for president in 2016, Trump told 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.’ Moore was an adviser to Trump in his 2016 presidential campaign and is a distinguished visiting fellow at the conservative Heritage Foundation. He hasn’t been formally nominated to the Fed board, but National Economic Council chief Larry Kudlow said on April 2 that the administration is ‘fully behind’ him…Bloomberg News and other news media reported on Thursday that Trump intends to nominate Herman Cain, former chief executive officer of Godfather’s Pizza, for another open seat at the Fed. Cain ran for the Republican presidential nomination in 2012. He promoted a 9-9-9 plan, which would have replaced much of today’s tax code with 9 percent taxes on sales, individual income, and corporate income….Trump’s new picks for the Fed are a win for Austrian School followers and others who think Nixon made a big mistake by taking the dollar off the gold standard.”
Gold & Silver “Will Survive The Whole System Burning Down” –Holter/Zero Hedge
“Financial writer and precious metals expert Bill Holter is ‘not worried at all’ about the current price smash down for precious metals. Holter says, ‘We live in a world where all liabilities are more than all liabilities in history…If you see a house burn down, the only thing left is the foundation. That’s the only thing left because the foundation doesn’t burn. That’s what gold and silver are, and that’s what’s going to be left when this house of financial cards burns down.’….’The entire system is a liability. So, some people are getting some of their money out of the system into real money (gold and silver) which is no one else’s liability…The biggest thing is there is too much debt in the system. Everybody owes everybody, and all you need is one link in the chain to break. All you need is one entity that cannot make good on what they promised.'”
