Loading ...I was going to comment on the Fedsters earlier, because the new Treasury Secretary and the Fed could clash.
Word is Scott Bessent is a gold bug of sorts … for a hedge fund manager.
Of course he is also a George Soros protege.
Trump picks George Soros protege Scott Bessent for Treasury – The Forward
Word is he’s not likely to start any fires, so we will have to see. Any talk of a gold backed currency would counter the crypto fairy tales they want people to buy into; not to mention they would need to audit Fort Knox; and not to mention that would help Vlad. (their overlords that live over the pond would not like that)
I can’t see that happening.
Thing is, if the Fed is more hawkish because they want to foul Trump up, then the degree of policy mistakes could be even more profound than they already are with the Disney Land like pictures they were trying to paint in order to keep the commies in the White House.
If this turns out to be the case, and stocks take a big hit, bonds will rally big time, and the Fed could cut administered rates to zero next year … along with switching to QE … along with throwing the kitchen sink into the mix.
Something tells me PM’s will like that.
Cheers