Trump Meeting with John Allison: Wants to abolish Federal Reserve and return to Gold Standard

[goldenequity]

Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard

On Monday, Trump will meet with John Allison,
the former CEO of the bank BB&T and
President and CEO of The Cato Institute.

 

[CaptUSA]

As previously stated in the other thread, if Trump picks Allison for Treasury, it'd be his best pick yet.

But if it's some lower level appointment, it will be a DISappointment.

 

[surf]

love the kelo stance.

 

[jllundqu]

One can hope.

 

[Origanalist]

This would be a good time to get on Brian's twitter crusade and tweet the crap out of this. I actually do think he pays attention to feedback from anyone he thinks is supporting him. Hell, fake it, I do.

 

[Origanalist]

Is this a screen shot? I don't get anything trying to click the links so I can tweet it. Maybe because Im on my phone?

 

[Athan]

Awesome!

 

[tommyrp12]

Is this a screen shot? I don't get anything trying to click the links so I can tweet it. Maybe because Im on my phone?

Here ya go.

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

 

[specsaregood]

This would be a good time to get on Brian's twitter crusade and tweet the crap out of this. I actually do think he pays attention to feedback from anyone he thinks is supporting him. Hell, fake it, I do.

ok, done, tweeted it.

Is this a screen shot? I don't get anything trying to click the links so I can tweet it. Maybe because Im on my phone?

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

 

[Sola_Fide]

Why would Trump pick him? Trump loves the FED and he loves low interest rates.

 

[TheCount]

Ridiculous. Trump could not possibly afford any of the policies he wants to implement if he did anything other than print money.

 

[specsaregood]

Why would Trump pick him? Trump loves the FED and he loves low interest rates.

I get the impression that he is a guy that likes to have people with competing ideas battle it out. At least this would give us another gladiator to root for in his arena.

 

[Zippyjuan]

He does seem to do that. He also seems to have few ideas of his own and goes with whatever the last person he talked to said on the subject- hence his frequent changes on issues.

 

[specsaregood]

He does seem to do that. He also seems to have few ideas of his own and goes with whatever the last person he talked to said on the subject- hence his frequent changes on issues.

So we just need to make sure he appoints Allison, then make sure Allison has Trumps last meeting of the day scheduled everyday. presto!

 

[trey4sports]

Honestly, it's a win just getting him in the door.

 

[PatriotOne]

Serious question......What I want to know is who has all the gold these days? Go back to the gold standard? But who has it? I'm a novice when it comes to gold. In my mind the slavemasters have confiscated all the gold anyways.

 

[specsaregood]

Serious question......What I want to know is who has all the gold these days? Go back to the gold standard? But who has it? I'm a novice when it comes to gold. In my mind the slavemasters have confiscated all the gold anyways.

Well, in reality "go back to the gold standard" is probably a dumbed down version of his full stance, as it would be with Dr. Paul.

In another thread, it was discussed that he is a big Hayek fan. So maybe he would support the competing currencies legislation that Ron used to submit every year.

 

[Zippyjuan]

US Treasury has 261,498,926 troy ounces as reserves. At $1200 (today's rough spot price) that is would be worth about $315 billion dollars. https://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

Is that enough to back the US dollar with gold? The economy is over $14 trillion a year. As measured by M2 (the most commonly used money supply measure), the supply of money is $13.2 trillion. https://fred.stlouisfed.org/series/M2 or 43 times the value of our gold reserves.

How would a gold standard work? Could dollars be converted to gold if you wanted? (If not, you really don't have a gold standard). If so, you risk losing gold if you run a trade deficit (as we do). Foreign companies getting paid in dollars for the goods we buy could decide to trade those dollars for gold- depleting our supplies (which is why Nixon closed that window in 1972) and lowering the value of our currency. Between 1962 and 1972 we lost over half of our gold reserves.

 

[PatriotOne]

Well, in reality "go back to the gold standard" is probably a dumbed down version of his full stance, as it would be with Dr. Paul.

In another thread, it was discussed that he is a big Hayek fan. So maybe he would support the competing currencies legislation that Ron used to submit every year.

What does Ron propose the competing currency is backed with in his plan?

 

[PatriotOne]

US Treasury has 261,498,926 troy ounces as reserves. At $1200 (today's rough spot price) that is would be worth about $315 billion dollars. https://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

That's a frighteningly low amount. Got a link that shows the worlds gold reserves? I wanna see where that freakin gold is that Trump wants us to be dependent upon..