Trump Rebuffed on Currency Request
Please note Trump Says Aides Rejected his Request to Adjust the Value of Dollar.
Trump told thousands of supporters at a political rally in Dayton, Ohio, that his policies were saving jobs in the political battleground state after years of inaction to confront China’s aggressive behavior in global markets.
“I go to my guys, ‘What about doing a little movement on the dollar?’” he said, but they countered that was not possible. “‘Sir, we can’t do that. It has to float naturally.’”
The self-proclaimed international trade master not only does not know how most currencies work, he was dumb enough to let the world know.
Wow.
Trump or an aide is likely to claim that he was making some sort of political statement and that he understands currencies. If he counters, you get to decide if you want to believe him.
Regardless, he looks more than a bit foolish for the way he revealed his ridiculous request.
Mish
I’m sorry Mish, but TDS has turned your brain to mush.
With the same logic and evidence, Abe didn’t know the Yen floats:
Juncker and the media didn’t know the Euro floats:
The Sydney Morning Herald doesn’t know the Aussie dollar floats:
You’re now like a trained dog, snarling every time the name Trump appears. You used to have a decent grip on the situation back in the GFC, but now… your reporting is negatively correlated with reality. In truth it’s been negatively correlated since your last 5 failed recession calls. I can’t take even the email summaries any more.
Just have the Fed print a few trillion more.
Everyone can’t have a weak /strong currency simultaneously.
Trump should be taken seriously but not literally.
What? Are you saying only pegged currencies can be devalued? Floating currencies can be devalued just like fixed currencies.
Not as easily. Reserve floating currencies even more so. Short of dropping money from the sky. Even electronic money drops do not easily devalue anything.
Can’t the FED sell USD in forex? The same as many other countries do.
And yet voters’ support for him goes down by zero. Speaks to the quality of education in this country.
MarketWatch article: “Currency intervention: Here’s how the U.S. could move to weaken the dollar”
The comments are certainly split along party lines this morning.
My guess is that Trump does know the dollar floats…..but that he believes the Masters of the Universe at the Federal Reserve have the tools in their toolbox to nudge it in any direction they’d like it to go. They might have had, at one time, but I think it’s getting harder.
The truth as I see it……is that the banksters have been trying like hell to weaken the dollar since 2015…..and it just keeps going up to spite them. The recent flagrant money-printing is the first thing I’ve seen that even came close to changing that.
Anybody subscribe to the Dollar Milkshake Theory?
Actually, the dollar like the rest of our economy is manipulated by the FED. It is no more a function of the natural economy than any other cartel controlled commodity.
I am sure you know that, but now you are resorting to lying to your readers to support your loyalty to the globalist agenda. Your credibility is now non-existent.
Great Point. I think we should give a test to all prospective politicians. And I think to vote we should have to pass the same test!
Mish – I’ve checked in on you since 2008. You are gonzo. Not sure what happened to you. I loved your contrarian takes and actually found info I could make money on. Now all you do is fight shadows trying to disprove Trump narratives I guess? How is that helpful? Everyone knows what Trump is. Signing off for good and deleting your bookmark. Good luck. Hopefully you find yourself again.
I don’t think it floats … it seems every currency is a depreciating somewhat in parallel. It is a sinking dollar not floating creating additional money spread in the dollar Ponzi?
True floating currencies have values set by supply and demand. I don’t know of any currency that truly floats.
Ah Trump the self-righteous ChiCom warrior! Fascinating that when he and his daughter could have put America first and built US factories and hired Americans to manufacture their Trump branded clothing line, they put China first.
Now to add insult to injury he continues to pursue policies that hurt self-responsible Americans who save their money and are ready for a rainy day and retirement.
Trump hats are made in USA.
The leftist/Democrat LIES that they are made in China spread so widely that USA Today made a FACTCHECK confirming they are MADE IN USA:
More proof that Trump went to Wharton and took economics and business classes?
Could almost justify this by acknowledging the Fed and treasury do target exchange rates trying to drive own and up the dollar but Trump took it too far.
This isn’t 2016.
For those who roll their eyes whenever “quotes” are published by the other side of whomever is “quoted”, you can hear the context and delivery at:
Go to 40:40 and watch the Rorschach president.
Everyone who isn’t an idiot already knows trump is an idiot. What has he got to lose?
“The president said it with tongue in cheek”, the White House press secretary said.
Of course…
She doesn’t even need to practice that line anymore she has it down so well.
Which one? she should’ve been asked. The one on the face, or …
That’s why I always say: Put together a couple of bright inquisitive high school students and you will have a much better brain trust than the average President.
why do you insult ”bright inquisitive high school students”? tRump didn’t dare to take SAT test and had hired somebody to do the test for him.
It wasn’t even his idea, his father knew he would never get into any school without someone else to take the test for him. And I can no longer accept that his followers do not know the same things we know about the guy, they just ignore the parts that normal people are alarmed by. And that makes them monsters, for a fact if they were not supporting Trump they would find someone even worse to promote. THEY are the problem a lot more than Trump is. And they will still be out there after Trump is stamping license plates at Sing Sing.
Two people? But thats Presidency by Committee! 🙂
How about a homeless person off the the street? I think many of them could do a better job
Trump does seem to have a robust understanding of debt, at least pertaining to the individual or corporate level.
Any other aspect of money, not so much. He does love ZIRP, which either makes him malicious or totally uncaring about the future beyond his lifetime.
We have to understand a couple things about Trump, first he never thought in a million years he could actually win in 2016. Nobody (except maybe Putin) thought he was going to be president.
The other thing is that now that he is president he is riding a tiger he cannot get off of without being eaten. “Manhattan DA Argues in Appellate Brief That He Needs Trump’s Tax Returns as Part of ‘Criminal Tax Fraud’ Investigation”
The DA cited a menu of criminal statutes that show he is on a serious investigation and not just a harassing “fishing expedition.”
“Cyrus Vance: As discussed below, such reports place sufficient notice into the public record to render the [Second Amended Complaint’s] claims implausible. In particular, if misstatements about business properties, wherever located, were conveyed from that business’s headquarters in New York to New York-based business partners, insurers, potential lenders, or tax authorities, those misstatements could establish New York crimes such as Scheme to Defraud (Penal Law § 190.65), Falsification of Business Records (Penal Law § 175.10), Insurance Fraud (Penal Law §§ 176.15-176.30), and Criminal Tax Fraud (Tax Law §§ 1803-1806), among others.”
Clearly Trump has sufficient knowledge of money and laws to break most of them and still pretend he is innocent of wrongdoing. Nobody, no matter how low their IQ or general understanding due to illiteracy, does not know a dishonest tax filing when they make one, nobody this dishonest is unaware they are lying to investors and lenders, and nobody who serially files bankruptcy using lies to prove their financial position in court to screw their creditors and contractors thinks they are being just good businessmen.
“The revelation is reminiscent of a court filing from early August, in which Vance’s office spoke of a “white collar” criminal investigation of President Trump and his family business that went beyond hush money payoffs. The investigation was said to focus on a series of bombshell reports from The Washington Post about the 45th president’s alleged wealth-inflation and the Trump Organization’s alleged tax-dodging strategies—encompassing possible insurance fraud and bank fraud. On Monday, Vance argued for the first time that you can add criminal tax fraud to the pile.”
The man may be stupid (better word IGNORANT) in general literacy terms, but he knows his criminal responsibility, that is why he has always surrounded himself with fixers, and he knows the only thing preventing his incarceration without bail pending a trial that would see him in prison for the remainder of his life is inevitable the moment he leaves office and loses his alleged sitting president immunity. So, his only hope of avoiding this fate is to never leave office no matter the price the nation will pay. He has NO LOYALTY to the USA.
This would not have been a big problem (or a problem at all) had he not thrust himself into the ultimate political limelight. He might have died comfortably on his own gold plated toilet of a stroke. Now what choice does this cornered rat in a maze have but to keep trying to move forward away from his pursuers? But the world is now a complex maze that really has a lot of blind dead ends and he suspects that there really is no way out in the end. And that is when a narcissistic psychopath rat says screw the cheese and becomes truly dangerous, once they understand that they are caught and their life is over, that they will be seen for the person they really are, a loathsome mentally ill criminal that cannot be compared to anyone less evil than the worst the history books have to offer, that is when he will decide to take everyone with him. There is one way to stop the US government from coming after him, end the US government. One way to stop people from hating him ranking him with the likes of dictators, end people.
It is like I have said here before, what would your life be like if the nation were to break up the way the USSR did? If like me you survive on a benefit that comes from the US Treasury how do you live when the US Treasury ceases to send out funds, or even to exist at all? What if your social security checks stopped? There would be no Social Security Administration if there is no US government. The elderly would be kicked out of nursing homes because there would be no Medicare/Medicaid to pay for it. The prisons would close, criminals settling scores. The roads and airports would no longer be anyone’s responsibility, no escape routes. There would be zero law enforcement. This side of the problem is nearly endless, and the more you have the more you will lose, because we will all be zeroed out.
On the up side you would also owe nothing to anyone because the levers of contract enforcement would also no longer exist, the courts would be gone, the constitution, the money itself would have no backing, nor even be legal tender anymore. That was the position the Soviet Union was in in 1991. It is the same position Putin wants the US to be in out of revenge.
But, would a sick man like Trump stop at just ending the nation? He and he alone has access to more than 6,000 thermonuclear weapons in our arsenal, and who could stop him? Some captain or major who’s job it is to carry that nuclear football? At that point he would be serving the same function as SkyNet in the Terminator films, launch on the other nations that have ICBMs knowing they will launch back before the first one lands.
Now, who still seriously believes Trump would not do this in the event he becomes aware that he is going to end one way or the other in a prison cell? Just as SkyNet launched the moment it became aware. He knows now that the moment he leaves office he will be unmasked as the criminal he really is, the only reasone we are still breathing is he still hopes for a miracle or has a plan that he thinks cannot lose.
His ONLY consolation is that he thinks 60 million people are still fooled by his bullshit, and that must be small reward when he has to know that being loved by the people you have conned only means you are loved by the ones too stupid to understand they have been conned. Their opinion has no value, they are idiots. Do you think any conman ever loved his mark’s after he took off with their money? No, they believe in their heart of hearts that their gullible marks deserved their frauds because they are intentionally stupid, they were all warned and they still fell for the con. Will he get that warm fuzzy glow by waving to them from between his cell’s bars? If anything he must hate them most of all.
No matter which side of the partisan divide you are on right now you need to be prepared for what is coming, because he may ultimately balk at destroying mankind and do something like flee to Putin’s waiting arms, a quick resignation and pardon from Pence, and already be aboard AF1 when it happens. Watch for an announcement of a state visit abroad after he has lost the election, or in the days very near it. He will not stick around because Pence can’t pardon NY or other state charges. And many states will have the power to prosecute him, as will other nations apply for extradition.
[EDIT] That link above has the actual 57 or so page appeal by Trump trying to stop the subpoenas demanding his financial records. It apparenetly argues that Trump cannot be prosecuted or indicted on state charges like tax fraud and bank fraud and all the others listed above because he has a constitutional right to say whatever he wants to. In other words lying is a protected right. Even when that lie is a criminal fraud perpetrated on banks, investors, and the government. He seems to be saying the government has no right to pass any laws on frauds. That is like saying he has the freedom of his actions so the government has no right to make murder a crime.
Cyrus Vance is a fervent Democrat whose family belongs to the Democrat elite.
From Wikipedia:
“Vance grew up in New York City. He is the son of Grace Elsie (Sloane) and Cyrus R. Vance, who served as Secretary of the Army under presidents John F. Kennedy and Lyndon B. Johnson and Deputy Secretary of Defense under President Johnson, then Secretary of State to President Jimmy Carter.”
Most likely Cyrus Vance has been told that if he goes after Trump he can get Schumer’s seat with the Democrat elites blessing and support when Schumer retires either in 2023 or 2029.
AOC/Bernie wing of Democrats will support Cyrus Vance if Vance gets Trump and if Cyrus Vance tries to get Trump but fails and still smears Trump enough for Biden to win I am sure AOC will be given a position in Biden administration so she will be in Biden administration if Schumer retires in 2023 so the lane will be free for Vance in 2022 to get elected and start his term in 2023.
I read your whole comment and I have to say that your conspiracy theory about Trump and your doomsday predictions are like comedy.
Sadly somebody might believe your wild concoction of what will happen and become worried.
Life will continue as before if Trump wins and if Biden wins there will be lots of extreme left policies and more unemployment and more offshoring of factories following the Green New Deal and Biden will likely keep wars going and start new wars and Biden has promised amnesty and US citizenship for all current illegal immigrants and this will lead to 29.5 million new US citizens (There are 29.5 million illegal immigrants in USA according to MIT-Yale study from 2018) and this will mean Democrats being in power for the next 30-50 years and in control of Presidency and House and cause more demand for SNAP-EBT, state welfare, federal tax credits, Section-8 housing, Medicare, Medicaid, Social Security and lead to cuts in all of those programs because of the 29.5 million potential new users out which at least 20-25 million will use many of those programs and the amnesty will attract tens of millions new illegal immigrants to USA during the next 10 years to either get into the Biden amnesty by lying they have been USA for years or wait for the next amnesty and this rush of new illegal immigrants will further lower/stagnate wages for all working class Americans and steal tens of millions jobs from Americans creating a larger Dependent voting class for Democrats who can be made to vote for Democrats by claiming that everything is the fault of Wall Street and greedy company owners when Democrats caused everything like they have caused the wage lowering/stagnation so far with the 29.5 million current illegal immigrants.
If Trump loses and Supreme Court decides that Joe Biden won after the avalanche of lawsuits that both Democrats and Republicans are preparing to file Trump will walk away and get his own show on some channel and start working for another Trump or himself to get elected in 2024.
There is so much dirt on Hillary and Bill that they do not want nothing to happen to make sure that they do not get prosecuted later and they want their daughter Chelsea to have the Clinton Foundation pay her a large salary for the rest of her life.
Chelsea has already been included in the Clinton Foundation as the third member after Bill and Hillary and the foundation has hundreds of millions or billions in it.
Just the people who were able to sell Uranium One and the uranium mines and deposits in USA and in countries that belonged to former Soviet Union to Russian government owned Russian company paid hundreds of millions to Clinton Foundation and the deal happened because Hillary’s State Department gave it’s OK.
“Regardless, he looks more than a bit foolish for the way he revealed his ridiculous request.”
Agreed. Sadly, he just looks foolish to the very small sliver of people who actually care about and attempt to understand how money is made.
“I’m trying to help you guys by lowering the purchasing power of your paychecks!” Idiot!!!
For what its worth (which is not much, but something) at least he is honest about his thievery.
Apparently Fox hasn’t spelled it out clearly (in the last 15 minutes – see Woodward on T’s near zero attention span) for him.
Several countries intentionally lower the value of their currencies to keep exports flowing and protect their internal markets from imports.
One of them is China:
The Chinese authorities have acknowledged that they have ample control over the RMB exchange rate. In a statement today, the People’s Bank of China (PBOC) noted that it “has accumulated rich experience and policy tools, and will continue to innovate and enrich the control toolbox, and take necessary and targeted measures against the positive feedback behavior that may occur in the foreign exchange market.” This is an open acknowledgement by the PBOC that it has extensive experience manipulating its currency and remains prepared to do so on an ongoing basis.
Maybe Trump remembers when we forced the yen to appreciate in the ’80s against Japan’s will. They never fully recovered from that.
The Chinese definitely remember that and bring up the Plaza Accord frequently as a justification for their actions.
“The self-proclaimed international trade master not only does not know how most currencies work, he was dumb enough to let the world know.”
Are you saying the fiat system has to be kept secret ? Anyone who studies currency debasement and modern financial systems will tell you… well even the fed has 2% inflation goal against goods (so ignoring productivity increases and synchronised foreign monetary expansion etc.)… but they are all naturals at it I guess – give someone a calculator and a bank account :/ .
Still a set of hurdles to get a comment in.