Trump Chess moves reverting back to Gold Standards
7/5/19 -♟♟♟♟♟♟sixth move-Washington(CNN Business) The United States abandoned the gold standard in 1971, and today the majority of economists in America believe reviving it would be disastrous for the US economy.
Yet that isn’t stopping President Donald Trump from naming a longtime proponent of returning to the gold standard, conservative scholar Judy Shelton, as his latest pick for a seat on the Federal Reserve Board.
Both of Trump’s most recent previous would-be nominees, conservative analyst Stephen Moore and businessman Herman Cain, endorsed returning to the gold standard. But Shelton is far more identified with her advocacy for the idea, which is based on the belief that the price of gold is stable and would make the dollar less susceptible to inflation or other volatility.
Feds cut interest rate July 31, 2019
6/24/19♟♟♟♟♟fifth move-Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history
6/10/19-♟♟♟♟fourth move-Trump claims Fed is giving China the upper hand
Despite a Federal Reserve that doesn’t know what it is doing – raised rates far too fast (very low inflation, other parts of world slowing, lowering & easing) & did large scale tightening, $50 Billion/month, we are on course to have one of the best Months of June in US history
6/10/19♟♟♟Third move- Trump-“This is because the Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage. The Fed Interest rate way too high, added to ridiculous quantitative tightening! They don’t have a clue!”
Trump Says Federal Reserve is ‘Very, Very Destructive’ to Economy
5/10/19 ♟♟second move-President Donald Trump renewed his criticism of the Federal Reserve on May 10, saying the central bank is giving China the upper hand in the ongoing trade negotiations.
‘We should be entitled to have a fair playing field, but even without a fair playing field – because our Fed is very, very disruptive to us – even without a fair playing field we are winning,” Trump told CNBC.
[China] devalue their currency, they have for years: It’s put them at a tremendous competitive advantage. And we don’t
4/30/19♟First move-Trump pushes Fed to lower interest rates in series of tweets …USA TODAY https://www.usatoday.com/story/money/2019/04/30/tr…