Trump’s China Announcement Shows He’s “Right on the Money”

With President Trump’s 100th day in office fast approaching, his administration has already delivered on some of his key economic promises, including slashing regulations, instituting a federal hiring freeze, and approving the Keystone XL pipeline. And now that the President is thoughtfully considering the impact of our monetary policy, he is also one step closer to making good on another promise — creating soaring job creation. After last week’s well-received meeting with Chinese President Xi Jinping, Trump announced that he was no longer planning to label China a currency manipulator. Although the President’s currency manipulation rhetoric was a shrewd negotiation

President Trump’s Feuding Advisors Need a New Focus: Economic Growth

In my most recent column in, I said the infighting in the West Wing was an inevitable outcome of the long economic stagnation that President Trump inherited. The solution does not reside in the President’s firing, demoting, or reorganizing his team or in having the feuding team members “work this out.” It lies in President Trump’s focusing his advisors on getting the economy moving again, creating jobs at a great rate, restoring upward income mobility for workers and generating a climate of equitable prosperity. JFK, Reagan, and Clinton all pushed economic growth to, toward, or even beyond the 4 percent

Do We Have Enough Gold to Return to the Gold Standard?

Lazy economic pundits argue that a return to the gold standard is impossible because “there is not enough gold.” Fortunately for those who want wages as good as gold, this line of attack is completely Fake News. Incurious economic reporters believe the following: since gold is a finite resource, if we make the dollar convertible to it, we will run out of gold. It’s funny how pundits find a world where a dollar is redeemable for gold unimaginable, but they would find nothing unusual about redeeming a dollar bill for 4 copper and nickel alloy quarters at a bank. True,

Greenspan’s Big Reveal: The Secret Recipe for Economic Growth

Former Fed Chair Alan Greenspan praises the gold standard in the February 2017 issue of The World Gold Council’s Gold Investor. Therein he makes what may be his strongest statements to date in praise of the gold standard. Here are some of the highlights. Toward the end of this interview he offers a Big Reveal: I view gold as the primary global currency. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in

Will Trump Be the “Gold Standard” President?

Remember when Donald Trump advocated for the gold standard on the campaign trail? GQ remembers: 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. And as Bloomberg’s Michelle Jamrisko highlighted last May, the GQ interview did not stand alone. Trump also expressed support for gold to New Hampshire’s WMUR-TV in early 2015, saying, “We used to have a very, very solid country because it was based on a gold standard.” Gold standard advocates, often affectionately called “gold bugs,” were thrilled by these

Is Bitcoin’s Surge Pointing Us to the Gold Standard?

Last week, the “digital currency” Bitcoin raised eyebrows when, for the first time, a Bitcoin became more valuable than an ounce of gold. While Bitcoin remains unimpressive as a form of money, the torrent of investment it’s receiving is potentially a sign of something much bigger — a golden opportunity to make the case for the gold standard. I share Peter Schiff’s view that Bitcoin is a speculative asset rather than a medium of exchange. Bitcoin fails the single most important test of any currency — the ability to maintain a stable value. In the last year alone, Bitcoin’s price

Huffington Post Predicts Trump Will Call for Gold Standard

Recently, two of The Huffington Post’s political reporters, Eliot Nelson and Jeffrey Young (who have managed to fuse ridicule and journalism into something functionally indistinguishable from “Alternative Facts”) recently made a telling observation. Their characteristic facetiousness may obscure a brilliant intuition. They observed: “we give it a month until Trump calls for the gold standard to be reinstated because he likes the sound of it.” As I have previously written, gold has a profound appeal for Donald Trump: Bloomberg View‘s Timothy L. O’Brien recently provided a colorful and insightful feature entitled “Donald Trump Loves Gold and Don’t You Forget It.” Therein

Paul Krugman: “The Trump Economic Team Is Shaping up as a Gathering of Gold Bugs”

Paul Krugman tweets: Are people noticing that the Trump economic team is shaping up as a gathering of gold bugs? 1/ — Paul Krugman (@paulkrugman) December 20, 2016 That tweet is part of a recent series by Prof. Krugman divining glints of gold in the company of Donald Trump. He predominantly focuses on one of Trump’s appointments, Rep. Mick Mulvaney (R-S.C.) for Office of Management and Budget (OMB). Krugman astutely points out that Mulvaney once observed that the Federal Reserve has “effective devalued the dollar” — hard to argue with when the dollar has lost 85 percent of its buying power

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