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Tag Archives: Donald Trump

I Owe, I Owe… SchiffGold Friday Gold Wrap Sept. 13, 2019

The price of gold whipsawed this week, driven up and down by various headlines. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some of the big news that moved the markets. But he said that we need to keep our eyes on the big picture. All of this is happening in front of a backdrop of surging debt driven by central bank policy. How much do we owe and what does it mean for the future? Mike talks about it. The SchiffGold Friday Gold Wrap podcast combines a succinct summary...

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Peter Schiff: By His Own Definition, Trump Is the Bonehead

Donald Trump has been badgering Federal Reserve Chairman Jerome Powell for months, begging for lower interest rates. Yesterday, he took things to another level, saying that the “boneheads” at the Fed need to push rates into negative territory.In his podcast, Peter Schiff said by his own definition, Trump is the bonehead.Trump used a pair of tweets to push for negative interest rates.The Federal Reserve should get our interest rates down to ZERO, or less, and we should...

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Michael Trump or Donald Dukakis

In researching my article “Donald Trump Vs. Adam Smith,” I came across Michael Dukakis’s speech to Moog Automotive, an auto parts firm near St. Louis. What I found striking is the uncanny resemblance between Dukakis’s and Donald Trump’s views on foreign trade and even on making American great again. Thus the title of this post. Here’s the segment on C-SPAN. Missouri Congressman Dick Gephardt warms them up with his economic nationalism and then Dukakis continues the...

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Donald Trump versus Adam Smith

The three quotes above give two opposite views of a country’s trade deficit. According to the first two, by Donald Trump, the U.S. trade deficit is a major problem that must be fixed. According to the third quote, by 18th-century economist Adam Smith, the idea of a balance of trade is absurd. Who’s right? I won’t keep you in suspense. President Trump is wrong and Adam Smith is right. But what matters crucially is why Trump is wrong and Smith is right. First, the U.S....

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The trade war’s winners don’t include us….. – Publications – AEI

AEI The trade war’s winners don’t include us….. …. is the title of an op-ed in today’s Wall Street Journal by Robert B. Zoellick (former World Bank president, U.S. trade representative and deputy secretary of state). Here’s the part of the article where Zoellick outlines five adverse effects of Tariff Man’s trade war (bold added): President Trump’s trade policy represents a fundamental break from the past 85 years. It’s more than a matter of aggressive...

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Silver on Rocket Fuel! SchiffGold Friday Gold Wrap Aug. 30, 2019

Gold has had a pretty solid month, but silver has been going up like it’s on rocket fuel.In this episode of the Friday Gold Wrap, host Mike Maharrey takes a close look at the silver market and what’s going on there. He talks a little trade war, saying that maybe we shouldn’t be talking so much about the trade war. And he also touches on some economic news that came out the week.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled...

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Using monetary policy as a political weapon

Former New York Fed President William Dudley has received a great deal of well-deserved criticism for these remarks: “I understand and support Fed officials’ desire to remain apolitical. But Trump’s ongoing attacks on Powell and on the institution have made that untenable,” Dudley wrote, referring to Fed Chair Jerome Powell. “Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a...

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Peter Schiff: Trade Deals Won’t Fix the Economy

One day Trump is on Twitter ratcheting up the trade war with China and the next he is pulling back and saying a deal is close. This back-and-forth has been yo-yoing markets for months. Peter Schiff recently appeared on to talk about the trade war. He said he doesn’t think there’s much substance to promises of a big trade war win. And even if the trade war is resolved, it’s not going to fix the fundamental problems underlying the US economy.The interview kicked off with a...

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Peter Schiff: Trump Loses It on Twitter

Donald Trump went on a Twitter rant Friday. In his latest podcast, Peter Schiff said the president basically “lost it.”There was a lot of news on Friday before Trump went off on Twitter. Jerome Powell gave his speech at Jackson Hole. He was generally upbeat about the economy. Then China announced additional tariffs on $75 billion in American imports. But the real fireworks started with Trump’s tweets in response to the Chines tariff retaliation.The tweetstorm probably...

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Trump’s Strange Economic Tightrope: ShiffGold Fridat Gold Wrap Aug. 23, 2019

This week has been relatively quiet in the markets. Gold has drifted up and down as traders wait to see what kind of message Fed Chair Jerome Powell will deliver during his Jackson Hole speech. In this episode of the Friday Gold Wrap, host Mike Maharrey covers some tidbits of news and speculates about what Powell will say. Then he pivots and talks a little bit about President Trump and the strange economic tightrope that he’s trying to walk.The SchiffGold Friday Gold Wrap podcast combines...

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