STRONG GOLD STANDARD ADVOCATE STILL CONSIDERED FOR TOP CABINET POSITION

Share This Article With Your Friends!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

NEWS FLASH!!

Written by: Avery B. Goodman

On November 29, 2016, I wrote that John Allison, retired CEO of BB&T Bank and the libertarian think tank, CATO Institute, was being considered for appointment as the new U.S. Treasury Secretary. That was music to the ears of many people including me. The man is a real banker, as opposed to a bankster, and his bank concentrated on real lending, the way a bank ought to, rather than opportunistic gambling and manipulation. He spent his life running an institution that supported American business. That, of course, supported good jobs that sustain communities.

In fact, BB&T Bank was one of the handful of major American financial institutions that remained very well capitalized during the 2008 financial crisis. It didn’t need any help from the U.S. government, although it was forced to take the “help” anyway. Allison opposed “TARP” and was sharply critical of the bailouts. His bank was pressured into accepting the money because it was thought that if banks like BB&T didn’t, the truth about the insolvency of a majority of American banks would be forced out of the closet.

Mr. Allison believes, as do I and most clear thinking people, that the world would be better off returning to a strict gold standard. He also believes that the Federal Reserve makes the swings in the business cycle more severe, and that the central bank ought to be closed down. It was very disappointing when I found out that former hedge fund manager, Steve Mnuchin, was awarded the US Treasury Secretary position, instead.

It seemed like Allison was going back to Winston-Salem, NC, empty handed. That was a sad shame considering how well-qualified he is. More recently, however, I learned that it isn’t over, and I wanted to share that with you. Mnuchin may be getting the coveted Treasury Secretary position, but Allison is still being seriously considered for “other administration positions”. In an interview in his hometown newspaper, for example, he disclosed that the 90-minute discussion with President Trump was only partly about the possibility of becoming U.S. Treasury Secretary.

Allison was actually being vetted for a number of other top positions. At the moment, he refuses to say which ones. But, he did mention that the idea that he join the Trump administration came from Vice President-elect Mike Pence. Mr. Pence had read his book about the 2008 financial crisis, and asked him to testify about it while he was still a Congressman. According to Allison:

“He thought my book was one of the best explanation of the crisis. As such, he was kind enough to inform the president-elect of my qualifications to serve in his administration. It was flattering to have been asked to meet with (Trump), and if I had been asked to serve in an administrative position, it would have required some significant thought and consideration.”

Oddly, although he says he wants to close it down, Allison is particularly interested in serving as Chairman of the Federal Reserve when Janet Yellen’s position expires. He says that he is willing to do that even though his real goal is to end the Fed. That’s because, in his opinion (and he is probably right) it is going to be politically impossible to close it down abruptly. His compromise is to, at least, end the central bank’s interest rate discretion. He wants to force the Fed to strictly comply with the “Taylor Rule”, which is a formula that determines what the interest rate should be, based on other economic factors.

Clearly, adherence to the Taylor Rule would rein in the Fed, because the basis for determination of the prevailing interest rate would be openly disclosed.  Since everyone would have equal knowledge and automatically know what the interest rate would be, members of the FOMC could no longer tip off their friends and colleagues at the banks they once worked at. It would eliminate the insider’s advantage, and destroy the incentive to place Trojan horses on the Fed’s interest rate setting committee to the benefit of certain trading firms.

As to going back to gold, the best alternative is not necessarily to “end the Fed”. Rather, it is better to simply return gold to “legal tender” status. The Federal Reserve should be allowed to continue printing its notes. Paper and electronic dollars would continue to be used, alongside gold, to the extent that people wanted to use them. Both dollars and gold would be legal tender for payment of all debts, public and private. In order to stabilize the value of gold (and of the dollar), leveraged trading would become illegal.

By monetizing gold, we would have the best of both worlds. There would be an automatic one-off increase in the money supply without resorting to confidence-destroying measures like money-printing. The increase probably wouldn’t be used for speculation in the stock market. That’s because the primary dealers would not be able to  borrow it at the Federal Reserve’s daily loan windows. As “better money”, most of it would disappear from circulation, based on Gresham’s Law. That, however, is a very good thing. As people’s savings, rather than a medium of exchange, gold could serve as the buffer that stabilizes against the big booms and busts induced by the fiat dollar economy.

________________________________________________________________

Buy Synod

“It moves fast, kind of like Robert Ludlum’s “Jason Bourne” trilogy…”

–  Josh Pullman –

The Synod is a conspiracy of 8 large international banks who seek to control gold, stock, bond and commodity markets all over the world. Jack Severs runs for his life when he learns too much, as the most sophisticated surveillance system ever built is deployed to track him down. As the ever-tightening noose closes, he struggles to uncover evidence to save himself and his world from collapsing! An exciting, fictional, fun and educational thriller about the banking cartel. Learn about the methods used to manage the price of gold and every other market on the planet, and how this affects business, politics and daily life in both the fictional and real worlds.

A perfect gift for the holidays!


Share This Article With Your Friends!
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

7 thoughts on “STRONG GOLD STANDARD ADVOCATE STILL CONSIDERED FOR TOP CABINET POSITION”

  1. GREAT writing Avery. I have proposed lifetime trading bans on any institution caught and convicted of funny business/price rigging, manipulation. IF Trump takes a hardline stance, first 100 days, the message would be swift and powerful.
    Let Americans save again, after 7+ years of very, very low interest rates.

  2. Ending the Phed
    is the only solution.
    “Fractional Reserve” banking
    is merely a euphemism
    for COUNTERFEITING!
    Congress (nor any institution created by same) was NEVER granted any power or authority by the U.S. Constitution
    to emit more Notes/Obligations/IOUs for the actual Money Supply than what actually Exists, as that is clearly counterfeiting/fraud, which is a Crime!

    Congress was granted the power and authority to “coin Money” (Gold & Silver coin) as well as “to borrow Money (Gold & Silver coin) on the credit of the United States.”

    Nowhere in the U.S. Constitution was Congress delegated any power and authority to ‘Borrow Credit’ from anyone, especially the ex nihilo/fiat type from counterfeiting Banksters, as that is FRAUD, and Fraud vitiates everything including every Contract.

    Got Lawful Money?

    Cheers!

    1. Indeed, fractional reserve banking is nothing more than legalized counterfeiting. I have been writing about this for decades having studied the Federal Reserve Act since the 50’s and as a Canadian it is encouraging to know that the charter for Canada’s Central Bank has a clause requiring the Bank of Canada to make interest free loans to Canadian governments and is now being SUED for failure to meet that responsibility because our politicians sold the citizens interests out to the European based International private banking cabal that in effect allows them to skim off the cream of the entire economies production by using taxpayers as DEBT slaves without contributing a dime, labour or raw materials for societies infrastructure needs. The same thing that makes a bond good will make a directly created dollar by the government good.
      There is no reason WHY theses parasitic bankers should be given a monopoly to create money out of thin air for effectively doing nothing more than printing numbers on pretty pieces of paper that DOUBLES societies costs and keeps us enslaved for generations. I predict that if Donald Trump as President does not give us honest money again by abolishing the FED, (however long it takes) and restores a gold standard then, he will be the architect of the total collapse of the U.S. economy under a weight of debt that can barely be comprehended at this time. If he proves to be a Trojan horse that goes along with the Deep State, then like Barrack Obama, despite his impressive farewell speech will DOUBLE the U.S. debt again, which will be the end of America as a free country.

    1. I hope so, too…along with a very competent cadre of bodyguards and seriously honest, non-bribable agents to protect him. The bankster mafiosos don’t take kindly to having their counterfeiting operation messed with. Eliminating their enemies is one of their trademarks.

  3. Very encouraged to read Mr. Allison is still under consideration. A bit disappointed early on to read in the mainstream news about all the Goldman Sax appointments which led me to believe more of the same coming. Goldman Sax employees and associates appear to have infested and contaminated economies of the world from Mario Draghi, Mark Cameron, John Corzine, Henry Paulson, and I believe there was an Italian prime minister named Monti, just to name a few. Draghi might be the best horse in the glue factory. Starting to wonder if there is a shadowy financial version of SPECTRE out there.

  4. Maybe he’ll head the CFTC. The fraud in markets is simply out of control and is beyond frustrating. I’ve literally lost all faith in ALL government and ALL institutions. I’ve lost faith in mankind itself.

    How could our situation have come to this. Someone has to pay. I’ll never forgive any of these people. As I age I know now how people become cynics.

    If Trump doesn’t address the fraud in the system this dog will bite his master very hard. I will work as diligently against Trump as I did against Hillary. You know, cuz white guy stuff and all. If Trump doesn’t perform he can go to hell with the rest of us, where we currently reside.

Comments are closed.