Trump wants to abolish the Federal Reserve and return to the gold standard

[shearts]

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If he can do this & not get assassinated, that will be a miracle.

Trump wants to abolish the Federal Reserve and return to the gold standard

with this in mind,

[<SMILE>]

HONG KONG—Donald Trump accused China of devaluing its currency in the opening minutes of the first U.S. presidential debate—adding fresh spice to an old debate: Does China gain an unfair trade advantage by manipulating the yuan?

Mr. Trump’s accusation—he has previously called China “the single greatest currency manipulator that’s ever been on this planet”—may have rung truer a decade or so ago. This year, though, China has been intervening more to prop up its currency, analysts and economists say, rather than driving it lower to win an even greater share of world trade.

The Republican nominee isn’t alone among leading U.S. politicians in criticizing China’s perceived policy of keeping its currency undervalued to make its exports more competitive. That, according to most economists, is the definition of a currency manipulator.
Donald Trump Charges China With Yuan Manipulation—Again - WSJ

The advantages of the gold standard are that (1) it limits the power of governments or banks to cause price inflation by excessive issue of paper currency, although there is evidence that even before World War I monetary authorities did not contract the supply of money when the country incurred a gold outflow; and (2) it creates certainty in international trade by providing a fixed pattern of exchange rates.
https://www.britannica.com/topic/gold-standard

He wanted to tame China, but I don't know if the $180B gold reserve in Fort Knox is enough to make a duel with China in terms of trade war. China do have an edge, it's autocratic and 600M+ cheap labor under that rule. When Trump brings home the job, I'm sure with the $7.50 average daily pay of US workers compared to that of $0.93 average daily pay of the Chinese workers will make the difference in terms of price of products introduced into the market.
The market nowadays is more keen on practicality and lesser cost than quality in much higher cost,
for they are spending a lot on other needs.
I think Trump will send the US economy on the downslope this time, his problem to much politics and too much promises that in precedence he doesn't know he could provide.

[firestarter]

A big "CANNOT" .. Pero let him try... He is the President.

[21guns]

Just like the US election they say he can't win,,question now is what if he can do it are you ready on your part?,,oi mga stocks addict do the plan b ayawg ka ratel,,hehehe

[21guns]

Just like the US election they say he can't win,,question now is what if he can do it are you ready on your part?,,oi mga stocks addict do the plan b ayawg ka ratel,,hehehe

For people who doesnt know why the Federal reserve can just print money like PESO print read this
Monetary Reform

[shearts]

a lot of people don't know this but the Federal Reserve is a PRIVATELY OWNED corporation. it is NOT a government entity.

@21guns

that is a very good article actually. people should read & understand the message.

[M.A.D.]

He's gonna be JFK'd 2.0

[<SMILE>]

Good question here in the Ask Cullen page. I get this one a lot so it’s worth some detailed explanation.

First, it helps to understand what the Fed really is. The Federal Reserve System was modelled after the New York Clearinghouse that existed in New York during the 1800′s and 1900′s. As its name states, the New York Clearinghouse was just a big clearinghouse where many of the big banks would come to settle their interbank payments. Unfortunately, it wasn’t broad enough to handle the scope and complexity of the US banking system so these regional clearinghouses were deficient in dealing with banking crises and liquidity issues. The Fed System took this private model and ramped it up into a public/private hybrid model to create a national clearinghouse for interbank payments. You don’t hear much talk about this on a daily basis, but that’s really what the Fed is – it’s just a big clearinghouse to help smooth the payments system. All the other stuff it gets attention for (like monetary policy) is just a sideshow to this primary purpose it’s serving – to maintain a healthy functioning payments system.

But the Fed is a weird entity when it comes to “ownership”. It exists due to an act of Congress. But it is also considered an independent entity because it is not part of the Executive or Legislative branches of government. The Fed exists because Congress created it, but it doesn’t enact policy measures with any Congressional or Presidential approval. Politically, this makes it a very independent entity.

The Regional Fed banks are arms of the Fed system that serve like regional versions of the NY Clearinghouse. One thing that muddies this discussion on “ownership” is the issuance of stock by the regional Fed banks to the member banks. This stock pays a fixed 6% dividend and gives the banks a claim on the Fed’s annual profits. But let’s keep this in the right perspective. Last year the Fed earned $90.5B. Of this, $1.6B was paid out in dividends. The remaining $88B was remitted back to the US Treasury. While the US Treasury doesn’t technically own shares in the Federal Reserve the Fed is required to remit its profits at the end of the year back to the Federal Government. As you can see, remittance often dwarfs any dividends paid back to the banks. In other words, the US Treasury is the recipient of most of the Fed’s profits.

Let’s also not forget the primary purpose of the Fed. Remember, the Fed exists to serve the payments system. This means it is a supporter of the US banking system. Before it can ever achieve its dual mandate on price stability and full employment the Fed must ensure the payments system is healthy. Therefore, the Fed is often viewed as a servant to the banking system while also trying to be a public purpose servant. It has, in effect, two masters by design.

The Federal Reserve system is an imperfect, but rather innovative clearinghouse. Its structure as “independent within government” makes it hard to decipher precisely who owns it. I prefer to think of the Fed as being an entity designed to help support the US payments system (which thereby makes it a bank facilitating entity) which serves public purpose and private purpose. In other words, it’s better to think of the Fed as a public/private hybrid and not really being “owned” by anyone.
Who Actually Owns The Federal Reserve? - Business Insider