THE MOST INFLUENTIAL PEOPLE IN THE TRUMP ADMINISTRATION TURN OUT TO BE GOLD STANDARD FANS

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Vice President-elect Michael Pence is currently the most powerful single political influence on President-elect Trump. Among other things, he is in charge of the transition team. He will also be in charge, after the inauguration, with dealing with Congress. For leftists, hostile to gold, that is a problem. However, for those of us who believe that the only way to solve our long-term economic problems is by a return to honest money, it is a godsend.

The editor of the New York Sun realized this quite a while ago. He wrote, back in July, about the wise choice of then-Governor Mike Pence as a running mate:

“Donald Trump’s choice of Mike Pence for vice president would — if it is confirmed tomorrow — be a promising pick for those of us who see a restoration of sound money as the essential precondition for returning America’s economy to a trajectory of jobs and growth…

Why did the paper write this? Left-wing economists and politicians have a long standing case of aurophobia. They hate gold because it inhibits both corporatist and government control over the economy. Don’t bother telling them that the dishonest system of “debt money” enslaves the very people they claim to protect. Don’t bother pointing out that debt based money favors the accumulation of capital by a narrow portion of society who receive the money first. I am, of course, talking about the bankers on Wall Street. Don’t bother warning them that the constant inflation, inherent in debt money, will eventually destroy the hopes, dreams and savings of the middle class. They don’t want to listen.

In contrast, Vice President Elect Mike Pence views gold from the standpoint of a person who does not want the large corporations and government to have complete and detailed control over the economy. His view, therefore, is diametrically opposite. He believes that gold is important to the system because it provides a base against which other things can be measured. In a speech at the Detroit Economic Club in November 2010, he said, and I quote:

“…My dear friend, the late Jack Kemp, probably would have urged me to adopt the gold standard, right here and now in Detroit. Robert Zoellick, the president of the World Bank, encouraged that we rethink the international currency system including the role of gold, and I agree. I think the time has come to have a debate over gold, and the proper role it should play in our nations monetary affairs. A pro-growth agenda begins with sound monetary policy…”

President-Elect Trump, himself, can be said to be a bit of a gold bug. He bought the yellow metal in the 1970s at about $185 per ounce, and sold it at $780. After that experience, the taste for gold never left him. During the campaign, he stated:

“Bringing back the gold standard would be very hard to do, but boy would it be wonderful, because we’d have a standard on which to base our money.”

In contrast, starting with a not-so-secret executive order, signed on April 11, 2013, President Obama seems to have authorized a raid on American gold reserves to bolster his administration’s claims of economic success. The banksters’ scheme was designed to control the chirping “canary in the coal mine” (rising gold prices) because it was singing too loudly of failed economic policies. It was also designed to put a lot of private profits into banker’s pockets. Thankfully, things are going to be different.

The new administration is looking very gold-friendly. Neither Pence nor Trump have outright stated that they intend to restore the gold standard, although Pence did hint at it. Does that mean it’s going to happen? Probably not. The stupidity of the Obama  administration, in giving license to the banksters to drain away America’s gold reserves, has made it nearly impossible. The only way would be to institute an secret program to buy back the gold. Issuing new dollars in exchange for gold would increase the money supply, a form of economic stimulus, so it might fit into the new President’s plans.

It’s not only the President and Vice President who like the gold standard. Dr. Judy Shelton was one of the two economists named to Donald Trump’s economic advisory team in August. She is now a member of the President-Elect’s transition team, and is a very strong gold standard supporter. Shelton first rose to prominence among economists when she predicted the economic collapse of the Soviet Union in 1989, two years before it happened. She says that many of the same issues are now appearing in the American banking system.  Her answer: reestablish the gold standard!

In an article in Fortune magazine, Dr. Shelton stated, and I quote:

In terms of gold being involved, some people may think of that as a throwback, but I see it as a sophisticated, forward-looking approach because gold is neutral and it’s universal.

The pre-election statements of President and Vice President, as well as the opinions of their most loyal advisors, answer the question many worry about. Some worry that “too many” people associated with Goldman Sachs are being appointed to positions in the Trump administration. Perhaps. However, that does not mean that banksters will be given free reign to continue doing what banksters have done in the past. In this case, banksters will not be allowed to continue pissing away America’s precious gold reserves. Top Trump administration people will surely see the schemes for what they are — personal enrichment programs for the banksters that support them.

The “Gold Reserve Act”, passed by Congress in 1934, requires the consent of the President before the Secretary of the Treasury can authorize tapping into America’s gold reserve. That’s what the meeting with President Obama and the CEOs of the biggest gold dealing banks, on April 11, 2013, was all about. It took place one day before the biggest attack on gold prices ever undertaken. The fact that the meeting took place at all, however, indicates that even left-wing Barack Obama was questioning the wisdom of raiding America’s gold.

Donald Trump appreciated the money that Steven Mnuchin, his only well-connected Wall Street fund raiser, brought in during the Presidential campaign. It is natural to reward someone after something like that, and that is why Mnuchin is now going to be US Treasury Secretary. But, even if he wanted to, which is not at all clear, it is very unlikely that Mnuchin would be able to convince President Trump to leave Obama’s gold reserve blasting executive order intact. Remember, Mr. Trump took issue with the idea of spending $4 billion worth of easily printable paper dollars on several new “Air Force One” 747s. Do you think he’s going to be convinced by anyone to piss away gold reserves, which are very difficult to replace?

The decline in gold prices, during November and December has been designed to allow manipulators with large, long-standing short gold positions, to shell-shock markets, facilitating an orderly escape with minimal damage. The hyping of India’s tax law changes was part of that, and is part of the strategy used to demoralize long speculators. The truth, however, is that even if India stopped importing gold, entirely, given the current excess of demand over supply, demand would still far exceed mining and scrap refining supplies. With that gap unfilled, the price must rise substantially. For more information about the true supply/demand situation for gold, see this article.

Going forward, the unplugged gap between supply and demand will be closed by the real market, not from further donations from the American treasury. Prices will rise once the banksters see the prospective cutoff from access to America’s gold reserves come too close for comfort. At that point, which will probably come in late December to early January, they will spin off whatever small short position they still have left, at any price they must pay to do it, and the upward movement will begin in earnest.

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8 thoughts on “THE MOST INFLUENTIAL PEOPLE IN THE TRUMP ADMINISTRATION TURN OUT TO BE GOLD STANDARD FANS”

  1. I am curious to know what executive order Obama signed on April 11, 2013 giving the bankers permission to raid the US gold reserve? I don’t remember reading about this. The Fed and top bankers did have an unannounced meeting with Obama at the White House some months back and we didn’t know about it until after the fact and we don’t know what was discussed at that meeting. Could you please provide information about the executive order allowing banks to steal US gold? Thank you.

    1. See answer to Veracity.

      It is a deduction from the circumstantial evidence. As to “stealing” the gold, it would not be characterized that way. The banks legally would have “stolen” the gold as much as they “stole” the bailout money.

      It could be listed as a “loan”. Did you know, for example, that the Fed’s primary dealers ran a loan balance amounting to hundreds of billions of dollars between 2001 and 2007. These were supposedly “overnight” loans, but every day they came due, they were replaced by the Fed with an even bigger “overnight” balance, until a 1 day loan (priced at almost zero interest even then) ended up as a nearly 7 year loan. That was an electronic money balance. The amount due was eventually repaid, but not until the Fed began its “QE” (money printing) program. The “loans” here, however, would be gold loans. Since the Fed cannot print gold, one would assume that they will never be repaid. I strongly suspect that, as with the prior “overnight” loans I just discussed earlier, the gold loans are probably also “non-recourse”. That means that, legally speaking, the US Treasury has no right to get repaid in gold, but can only enforce against a default by seizing the posted collateral (which, most likely, consists solely of US government bonds).

      It could also be characterized as a US government led market operation to defend economic stability, with the banks simply acting as agents, and all liability beginning and ending with the government. I should note that, when GATA did a formal Freedom of Information Act Request to the US Treasury and the US Federal Reserve, requesting details about the “gold swaps”, mentioned in various transcripts, the government did not deny their existence, but, rather, claimed privilege saying that the information sought was secret confidential material and that release would jeopardize important operations.

      Bottom line: US Gold Reserves CANNOT be swapped or obligated in any other way, without resort to the authority Congress vested in the President pursuant to the Gold Reserve Act of 1934. The Act REQUIRES consent of the President of the United States. Therefore, the gold swaps are authorized by a secret executive order. Case closed.

  2. Thanks for a great article, very informative as usual.
    We all know that on 11th April 2013 the 15 Banksters from the Financial Services Forum met at the WH but very little to no details are known about what was discussed at this meeting.
    We can, however, deduct from the massive gold and silver raid which followed the next day, within hours, that some kind of green light was given to the Bankster Crims to do whatever it takes to save their filthy butts form certain default/bankruptcy on the Comex, as they were apparently very close to defaulting in their gold / silver deliveries.
    This can be gleaned from the data sets and backwardation numbers etc.

    You refer in your article to a secret Executive Order Obama seemingly signed on that day; do you have anything substantiating this or is it more of a projection/deduction you make?
    One would have thought that all such orders must be public, but then again this stooge has flouted every law and constitutional rules on the books!

    1. It is a projection/deduction. I would note that some executive orders that “impact national security” need not be made public. Not that such a bogus claim is legit. Nevertheless, secrecy could be maintained by a claim that disclosure would seriously harm the economic security of the United States. Generally, the government does not appear obligated to disclose orders relating to the Gold Reserve Act of 1934, disgusting though that might be to you and me.

      We know there are gold swaps because mention of them exists in a number of transcripts. When GATA recently demanded details of the swaps, pursuant to the Freedom of Information Act, the US Treasury and Federal Reserve refused to provide them, claiming that the information was privileged and secret and would harm the USA and/or commercial counterparties and/or other governments, if disclosed.

      US Gold Reserves CANNOT be swapped or obligated except under authority Congress vested in the President pursuant to the Gold Reserve Act of 1934. The Act REQUIRES consent of the President of the United States. Therefore, the gold swaps are authorized by a secret executive order. I believe the circumstantial evidence shows such an executive order, quite possibly a supplemental one, that adds to another pre-existing order, was signed on April 11, 2013, rather than any other day.

      1. Thanks, this is sound reasoning and deduction I wholeheartedly agree with!

        However there are many puzzling aspects to this whole conspiracy at the highest level, and yes this is a conspiracy.

        For one, seemingly, or according to persistent rumours, under the Clinton/Summer/Rubin/Greenspan reign of Fraud and Crime, the 8,000 tonne US gold hoard has already been either, at least partially, sold, hypothecated, leased or compromised in some other nefarious ways.

        According to one source there is even waybill evidence supporting the accusation that this hoard has been replaced with gold-plated tungsten bars…. who knows if it is true but there are other claims of trucks coming and going to Fort Knox in surreptitious and unusual activity, while locals ascertain that there is no gold left in Fort Knox.

        And we know that the NY Fed was unable to deliver even the minutest amount of gold to the Germans!

        So what exactly was agreed on the 11th April 2013?
        The theft of more gold form other sources, e.g. Saudi and other Arab Gold or what was left at the NY Fed?

        The theft of gold from the so called Global Collateral Accounts, i.e. the gold the US stole in the Philippines from the Japs who stole it from across Asia in their tyrannical rampage of loot and plunder from 1895 onwards? But is this gold still stored somewhere or has it long since been used to fund all the covert ops of regime change, black ops, and for arming every terrorist org the CIA/USG finds convenient to support?

        Or simply a nod and a wink from their puppet stooge to close both eyes and go for another game of golf at their expense and another $100m into his secret account at JPM?

        The CFTC has already been in their pocket since the day Brooklsey Born was rolled and prevented from regulating the very markets she was appointed to regulate in an act of the banksters’ puppet whore Congress.

        The gold must come from somewhere and I venture a guess that the NY Fed is empty, Fort Knox is empty, all Vaults in Zurich, Frankfurt, the City are all empty or very close to empty and that the game is about to end abruptly!

        Maybe this was their desperate last hurrah smash before the CME/Comex/LBMA really start to default ………..

  3. “…banksters will be given free reign…” I suspect that should be “free rein”; “reign” is what Elizabeth II does as Queen of Canada.

    1. Actually, the phrase can be spelled either way and both are correct. See, Cambridge Dictionary of American Idioms Copyright © Cambridge University Press 2003. Although the issue is not mentioned, it seems that the two methods of spelling may each be subliminally different. Using “reign” seems most appropriate here, because we are not talking about merely guiding a horse, but guiding a country, which is what Kings and Presidents do. Thanks for the input.

  4. As of September 2009 GATA got proof the Fed has gold swap arrangements with foreign central banks http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf

    However, in March 2007 I released “Paper Money Mobster Speaks” at Silver Investor and elsewhere. It was about Alfred Hayes of the Federal Reserve Bank of New York who left to run Morgan Stanley International. Using a widely available publication, Vital Speeches of the Day, I found Hayes admitted in 1963 and again in 1975 about central bank gold swaps. The info was already in the public record. I found it 2 and a half years before GATA’s announcement without need to inquire to the Treasury, and am still waiting for the mainstream metals community to recognize that The Pilgrims Society in New York, and its twin in London, is the originating point for gold and silver suppression. I have documented this matter extensively as in “Who Controls the Gold Stealing New York Fed Bank” at the start page of http://www.silverstealers.net

    Here are remarks Pilgrims member Hayes made I noticed in Vital Speeches of the Day (SMU Fondren Library)—

    “I HAVE HEARD OUR SWAPS CRITICIZED AS COVER UPS.” —Alfred Hayes, lecture at Economic Club of New York, April 22, 1963

    “I AM PARTICULARLY PROUD OF THE FEDERAL RESERVE SWAP NETWORK, IN THE DEVELOPMENT OF WHICH I WAS INVOLVED FROM ITS INCEPTION, LINKING THE FEDERAL RESERVE AND 14 OTHER CENTRAL BANKS AND THE BANK FOR INTERNATIONAL SETTLEMENTS. GOLD HAS LONG BEEN VIEWED BY MANY AS A BARBAROUS RELIC AND DEMONETIZING IT AND PHASING IT OUT OF THE SYSTEM COMPLETELY SEEMS TO HAVE A GOOD DEAL OF APPEAL IN SOME QUARTERS.” —Alfred Hayes, speech at International Monetary Fund, August 31, 1975

    As I reflect, I will consider it a miracle if this post is allowed to stand due to the favoritism arbitrarily shown to GATA, who refuses to recognize the source of the metals suppression is this Crown sponsored group. Zero Hedge, Infowars and most metals long and pro-freedom sites all refuse any coverage, and I make no income doing this. Despite having the top attorneys on Wall Street, the Society has not sent me any process server. Discovery process would include access to current rosters, and only the members get rosters.
    I have done the labors of Hercules in research and most sites actually ban me from coverage. No one has challenged the presentations. One site actually protected Jeffrey Christian from public scrutiny just before an annual Silver Summit by refusing coverage of “Jonathan Frid Vomits on Silver.”

    Naturally a request on details of gold swaps would yield no result. Trump’s associations may prove more meaningful than his words. He was pals with Pilgrims member Brooke Astor, widow of Pilgrims member Vincent Astor, whose ancestor John J. Astor was the main domestic power in the gold and silver stealing second U.S. Bank. After a cruise on Vincent’s 264 foot yacht in February 1933, one of FDR’s first actions in President was to seize gold from Americans, as the goal of The Pilgrims Society is “the seizure of the wealth necessary” (Review of Reviews, May 1902, page 557.)

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