Tuesday, November 29, 2016

Donald Trump interviewing a potential Treasury Secretary who advocates gold standard and ending the Fed

If there is one thing you can say about President-Elect Donald Trump so far is that he has been very thorough in interviewing candidates for his administration.  From appointing a loyal supporter like Dr. Ben Carson to the position of Director of HUD while at the same time dumping former loyalist Chris Christie, to being willing to listen to and talk with a staunch adversary like Mitt Romney, to date Trump is sticking to his word in trying to finding the best person for the job no matter what side of the aisle they are on.

Yet one cabinet position remaining to be filled in his administration has seen as much contention as that of Secretary of State.  And so far the only real candidates interviewed have been those from the establishment, and tied to the banking cabal that are at the core of Washington's elite swamp.

Until now.

On Nov. 28 Donald Trump met with the former CEO of BB&T to perhaps discuss his potential to become the next Secretary of the Treasury.  And what makes John Allison unique is that as opposed to a banker from Goldman Sachs or J.P. Morgan who would strive to keep the status quo, Allison is a staunch advocate of returning the monetary system to a gold standard, and eliminating the Federal Reserve as the country's money printer.

On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute. 
There have been reports that Allison is being considered for Treasury secretary.
Trump's has on the campaign trail questioned the future of the Federal Reserve's political independence, but Allison takes that rhetoric a step further. While running the the Cato Institute, Allison wrote a paper in support of abolishing the Fed. 
"I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed," Allison wrote in 2014 for the Cato Journal, a publication of the institute. 
Allison said that simply allowing the market to regulate itself would be preferable to the Fed harming the stability of the financial system. 
"When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult," Allison wrote. "Markets do form bubbles, but the Fed makes them worse." 
Allison also suggested that the government's practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by "a market standard such as gold." – Business Insider
What makes John Allison different than the string of too big to fail bank executives that have proliferated the office of the Treasury over the last several administrations is that BB&T is considered to be a mid-size regional bank, and not among the protected financial oligarchies that have a history of fraud and corruption, and who are reliant upon the expansion of cheap credit from the Fed to be able to continue running their criminal schemes.

With both Russia and China very open to a return to some form of a gold standard in international trade or reserve currency standard, the confirmation of a pro-gold standard Secretary of the Treasury would go a long way in helping Donald Trump to negotiate a currency reset to deal with the untenable debt that both the U.S. and most of the world are being suffocated under.  And this would also mean that the gold price would finally be released to climb to its true value, as the supply of metal would need to be valued much much higher to backstop the amount of currency and debt that are currently floating around the global financial system.

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