{"id":31371,"date":"2018-02-21T13:54:56","date_gmt":"2018-02-21T18:54:56","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31371"},"modified":"2018-02-21T13:54:56","modified_gmt":"2018-02-21T18:54:56","slug":"strong-dollar-weak-dollar-what-about-a-gold-backed-dollar","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31371","title":{"rendered":"\u201cStrong Dollar,\u201d \u201cWeak Dollar,\u201d What About a Gold-Backed\u00a0Dollar?"},"content":{"rendered":"
\n

\u201cStrong Dollar,\u201d \u201cWeak Dollar,\u201d What About a Gold-Backed\u00a0Dollar?<\/a><\/h3>\n<\/header>\n
\n

\"gold<\/p>\n

The recent hullabaloo among President Trump\u2019s top monetary officials about the Administration\u2019s \u201cdollar policy\u201d is just the start of what will likely be the first of many contradictory pronoucements and reversals which will take place in the coming months\/years as the world\u2019s reserve currency continues to be compromised.\u00a0 So far, the Greenback has had its worst start since 1987, the year of a major stock market reset.<\/p>\n

The brief firestorm was set off by Treasury Secretary Steven Mnuchin who said in response to the dollar\u2019s recent slide, \u201cObviously, a weaker dollar is good for us, it\u2019s good because it has to do with trade and opportunities.\u201d*\u00a0 Mnuchin backtracked a bit as international financial leaders criticized the apparent shift in policy while Administration officials sought to clarify the Secretary\u2019s remarks.\u00a0 President Trump weighted in on the matter saying, \u201cUltimately, I want to see a strong dollar\u201d and added that Mnuchin\u2019s comments were \u201ctaken out of context.\u201d<\/p>\n

While President Trump sought to allay jittery currency markets that monetary policy had not changed, candidate Trump supported the Federal Reserve\u2019s suppression of interest rates and did not want to see a rising dollar:<\/p>\n

I must be honest, I\u2019m a low interest rate<\/p>\n

person.\u00a0 If we raise rates and if the<\/p>\n

dollar starts getting too strong, we\u2019re going<\/p>\n

to have some very major problems.**<\/p><\/blockquote>\n

Of course, the entire uproar about a strong dollar versus weak dollar is a sham. When the dollar (and for that matter all other national currencies) cannot be redeemed for either gold or silver, it is inherently \u201cweak\u201d and ultimately worthless.\u00a0 That this obvious fact is not recognized by the Trump Administration, international monetary authorities, and the financial press demonstrates just how unstable the dollar and world currencies actually are.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u201cStrong Dollar,\u201d \u201cWeak Dollar,\u201d What About a Gold-Backed\u00a0Dollar? The recent hullabaloo among President Trump\u2019s top monetary officials about the Administration\u2019s \u201cdollar policy\u201d is just the start of what will likely be the first of many contradictory pronoucements and reversals which will take place in the coming months\/years as the world\u2019s reserve currency continues to be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[18793,7844,303,374,18794,431,534,15208,839,3650],"class_list":["post-31371","post","type-post","status-publish","format-standard","hentry","category-economics","tag-antonio-aquinas","tag-donald-trump","tag-fed","tag-gold","tag-greenback","tag-interest-rates","tag-monetary-policy","tag-steve-mnuchin","tag-us-dollar","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31371"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31371\/revisions"}],"predecessor-version":[{"id":31372,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31371\/revisions\/31372"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}