Less than a month ago we wrote about one of President-Elect Donald Trump's final candidates for the office of Treasury Secretary being a strong proponent for a gold and silver monetary standard. And although John Allison did not make the final cut in his administration, a new sound money nominee is being set to run the Office of Management and Budget.
Trump's newest OMB selection is a Congressman from South Carolina who not only has spoken out on the virtues of gold and silver as money in the past, but he currently owns both as well as mining stocks and bitcoin.
The man in line to bring together President-elect Donald Trump's federal budget is a big believer in gold, according to financial disclosures.
Mick Mulvaney, Trump's pick to lead the Office of Budget and Management, owns significant amounts of precious metals and gold-mining stocks based on financial disclosures compiled by Bloomberg.
According to the filings, Mulvaney held $50,000 to $100,000 in precious metals at the end of 2015. In addition, the South Carolina congressman holds stock in numerous gold and silver mining corporations totaling $252,000 to $855,000, according to the filing.
The heavy investments into gold is not surprising given past criticism by Mulvaney of the Federal Reserve. In a speech obtained by Mother Jones, Mulvaney told the John Birch Society, a group that believes the only legal forms of currency are gold and silver coins, that the Fed had "effectively devalued the dollar" and "choke[d] off economic growth." - Business Insider