US Federal Prison Ordered By Trump To Prepare For 23 “High Security Political Defendants”


WhatDoesItMean
By: Sorcha Faal, and as reported to her Western Subscribers

An intriguing Foreign Intelligence Service (SVR) report circulating in the Kremlin today states that the unprecedented “grouping/converging” of US Marshals Service-Eastern District of Pennsylvania (USMS-EDP) agents in Philadelphia and Washington D.C. this past week was due to President Donald Trump’s Department of Justice (DOJ) “informing/notifying” the Federal Bureau of Prisons (BOP) to prepare for at least 23 “high security political defendants” being placed in theFederal Detention Center (FDC) located in Philadelphia—one of whom the SVR believes will be Hillary Clinton. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]

According to this report, while the US mainstream propaganda media this past week was being consumed by their “Russia hysteria” meme against President Trump that has led to a $150 million “kill contract” being put on his life, and whom had just fired his leftist-leaning Federal Bureau of Investigation (FBI) Director James Comey, SVR intelligence analysts were reporting that a team of FBI agents and US Department of Justice prosecutors had just returned from Bangladesh where they had secured under oath testimony from Prime Minister Sheikh Hasina confirming Hillary Clinton’s criminality.

Read further…

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Dark Web “Kill Order Contract” On President Donald Trump Issued For $150 Million


WhatDoesItMean

By: Sorcha Faal, and as reported to her Western Subscribers

A stunning Foreign Intelligence Service (SVR) report circulating in the Kremlin today states that after yesterday’s meeting between Foreign Minister Sergey Lavrov, Ambassador Sergey Kislyak and President Donald Trump, a “kill order contract” against America’s new leader appeared on the “dark web” offering a payment of 82,900 Bitcoin’s for Trump’s “murder/killing” by the end of this month—and with Bitcoin’s currently being valued at a little over $1,800, amounts to over $150 million being offered for the assassination of an American president. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]

According to this report (and virtually unknown to most people), internet search engines (Google, Baidu, Wolframalpha, Yandex, etc.), only show about 1% of what’s actually available online, with the vast majority of websites being found in the “deep web—and which the “dark web” is a smaller subset of, uses masked IP address and needs specialized browsers to access—and is occupied by vast international crime organizations and state-actor intelligence services.

Though not conclusively proved, this report continues, SVR intelligence analysts believe that this “kill order contract” offered against President Trump is from Deep State” conspirators in the United States at war with their new leader—who became incensed after President Trump fired one of their main anti-Trump-“Russian hysteria” commanders, former FBI Director James Comey, and less than 24 hours later, hosted two of Russia’s top diplomats in his White House Oval Office.

FBI Director Comey, this report explains, was the American “Deep State” commander who was tasked with creating, and perpetuating, the false “Russian hysteria” meme against President Trump by using what is now called the “Trump Russia Dossier”—that has been revealed to be a completely made up document created by an American political opposition research company named Fusion GPS and paid for by as yet unidentified Hillary Clinton supporters.

Written entirely by an ex-MI6 (British intelligence) operative named Christopher Steele for the Hillary Clinton campaign he claimed “would sway the election against Trump”, this report says, the “Trump Russia Dossier” was so fabricated out of nonsense that the American magazine Newsweek cited a CIA operation who said “it’s hokey as hell” and one of the most esteemed US journalists, Bob Woodward of the Washington Post, called it “garbage.

Shockingly though, this report notes, FBI Director Comey used this “hokey as hell garbage” “Trump Russia Dossieras evidence he presented to what is called a FISA Court in order to obtain a warrant to listen into and record the phone conversations of then candidate Trump and all of his associates—and that then President Barack Obama signed an extraordinary Executive Order to unmask the names of, distribute throughout the entire “Deep State” apparatus, and then leak to the mainstream propaganda press in order to damage the reputation of Trump.

Equally as astounding (and illegal) as his presenting this “hokey as hell garbage” to a US Federal Court as “evidence” of anything, this report continues, FBI Director Comey even attempted to pay the ex-MI6 operative Christopher Steele another $50,000 of US taxpayer money to continue this “cascade of lies—but that Steele never accepted because of his knowing he made up everything contained in the “Trump Russia Dossier.

While the totally made up “Trump Russia Dossier” was being exposed as a lie, however, this report further explains, FBI Director Comey, again operating for the “Deep State”, added another layer of falsehoods to the “Russia hysteria” movement against Trump by his proclaiming that Russia had hacked into the computer servers of Hillary Clinton and her Democratic Party.

Shockingly though, this report notes, in FBI Director Comey claiming that Russia had hacked into these servers he failed to provide any evidence—with his, instead, relying on a now discredited report prepared by a company controlled by Hillary Clinton named Crowdstrike who said they had discovered “proof” of Russian hacking.

With Hillary Clinton and her Democratic Party claiming that the FBI never even asked to examine the supposed Russian-hacked computers, and the FBI countering that it did ask to examine them but were denied, this report explains, the most crucial fact of this matter not being told to the American people by their propaganda mainstream media is that all of Crowdstrike’s claims of Russia hacking these computers have been discovered to be lies—and who are now, also, refusing to cooperate with the US Congress.

As every single, and absurd, claim that Russia interfered with the 2016 US presidential election now being exposed as completely 100% made up lies, this report says, one must then ask why the American mainstream propaganda media still perpetuates their “Deep State” masters “Russia hysteria” meme—and which SVR intelligence analysts state can only be understood by knowing the facts of Hillary Clinton’s communist mentor Saul Alinsky.

Saul Alinsky, this report explains, aside from being Hillary Clinton’s idol and mentor, is best known for his rule-book manifesto for the communist takeover of America titled “Rules For Radicals”—and whose Rule #13 is now being employed against President Trump and states: “Pick the target, freeze it, personalize it, and polarize it…cut off the support network and isolate the target from sympathy…go after people and not institutions; people hurt faster than institutions.

As being applied by the “Deep State” and its mainstream propaganda media sycophants, this report details, Alinsky’s Rule #13 using the FBI Director ComeyRussia hysteria” meme has, indeed, targeted, frozen, personalized and removed from sympathy among large numbers of the American populace President Trump—who on an hourly basis since his election has been the victim of the largest smear campaign ever instituted against an American president in that nations entire history—to include even the most shocking allegations of him lusting after his own daughter.

To the effect of Alinsky’s Rule #13 as used by the “Deep State” and FBI Director Comey’s Russia hysteria” meme, this report continues, it cannot be underestimated either as a new poll conducted by the Connecticut-based Quinnipiac University shows that “idiot, incompetent and liar” were the most commonly given answers when respondents were asked for the first word that comes to mind when they think about President Trump—with other less-than-flattering descriptors being “buffoon, con-man, clown, narcissistic, bigot and embarrassment”.

As to why the “Deep State” must destroy President Trump, this report explains, is due their communist-leftist economic model for America quickly failing and unable to be supported by the supposed to be president Hillary Clinton—and as evidenced by the stunning world-record $116 billion bankruptcy of the US territory Puerto Rico, the coming bankruptcy of the Connecticut State Capital—and the bankruptcies of Illinois and California now being imminent too.

Not being understood by the American people, SVR intelligence analysts in this report say, is that their present capitalist economy is incompatible with those of socialist-communist ideology—but in order to turn a democracy into a communist state where citizens are reduced to serfdom (enslavement) the health care systems must be nationalized—but will collapse the nation as Soviet Russia discovered.

In knowing this fact, this report continues, the failed attempt to nationalize the United States healthcare system through what is called Obamacare as a first step towards achieving true communist (elite) rule is why the “Deep State” must destroy President Trump—and why the end of this month is so critical as the “swamp continues to be drained”.

The reason this is so, this report explains, is due to what is called cost-sharing reduction payments (CSR’s) that the Obama regime used to pay insurance companies to subsidize their quickly failing nationalized health plan—and that President Obama had to pay for by stealing billons-of-dollars from his nations mortgage loan providers Fannie Mae and Freddie Mac whose investors he defrauded.

Under the US Constitution, this report continues explaining, a US president (Executive Branch) is not allowed to spend any money not authorized by the US Congress (Legislative Branch)—and when the Obamacare nationalized health plan scheme was enacted, it failed to provide any money for these CSR payments to insurance companies.

So when President Obama began stealing money from Fannie Mae and Freddie Mac to pay these insurance companies, this report notes, the US House of Representatives sued him in Federal Court—and where US Federal Judge Rosemary Collyer, of the Federal District Court for the District of Columbia, ruled that the Obama regime was, indeed, violating the US Constitution in paying CSR’s to insurance companies.

Though the “Deep State” had fully expected Hillary Clinton to win the presidency, disregard the US Federal Court and continue paying these CSR’s in order to save Obamacare, this report says, upon President Trump assuming office he stated that he would not pay them, and sending the insurance companies into total panic—so much so, in fact, that US insurance giant Aetna just announced yesterday that it was leaving Obamacare after suffering loses between 2014-2017 of nearly $1 trillion.

To how completely bizarre, too, this “Deep State” war against President Trump over Obamacare has become, this report further notes, the US House of Representatives lawsuit against the Obama regime for illegally stealing money to pay for this communist health care scheme was titled “House v. Burwell” due to the Obama regimes Secretary of Health and Human Services Sylvia Mathews Burwell being the named lead plaintiff, but has now been changed to “House v. Price” to reflect Tom Price now being Trump’s new Secretary of Health and Human Services—meaning, of course, that President Trump is now locked in an epic battle against his own Republican House over the failed Obamacare health scheme they’ve both vowed to destroy.

Shortly after taking power, though, this report details, both President Trump and the US House of Representatives requested that US Federal Judge Rosemary Collyer stay her ruling against that would destroy Obamacare once and for all—with their stating that they would return to her on 22 May to give her an update as to what they were going to do.

To solve what is truly the only real “Constitutional Crisis” now occurring in America, this report continues, President Trump and the US House of Representatives passed last week what is called the American Health Care Act—that would completely eliminate all cost-sharing reduction payments (CSR’s) to insurance companies thus allowing the “House v. Price” lawsuit to end as Obamacare would be destroyed—and that, also, completely defunds the genocidal black baby-killing organization know as Planned Parenthood.

With President Trump’s and the US House of Representatives American Health Care Act now needed to be passed by the US Senate, and signed by Trump, before it can be made into law, this report explains, if this is not accomplished by 22 May, Trump will most certainly tell his US Justice Department to accept US Federal Judge Rosemary Collyer’s ruling thus destroying Obamacare.

Therefore, this report concludes, not only President Trump, but, also, his “Deep State” enemies are locked in one of the most crucial battles in American history to see who will survive, with Trump’s firing of FBI Director Comey, and less than 24 hours later hosting top Russian officials in his White House Oval Office, proving that he won’t bow down and is unafraid—and with Foreign Minister Lavrov, perhaps, summing up the current state of the US mainstream propaganda media by his stating to them yesterday when asked about the “Russia hysteria” issue: “I can’t believe I’m being asked to answer such a question, especially in the US, where you have a sophisticated democratic political system”.


May 11, 2017 © EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked back to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.

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Pentagon Completes Takeover Of US Government, Begins Next Stage Of “Deep State” War


WhatDoesItMean

By: Sorcha Faal, and as reported to her Western Subscribers

A very interesting, though somewhat chilling, new Security Council (SC) report circulating in the Kremlin today states that the US Department of Defense (DoD/Pentagon) has secured its takeover of the American government and is now in “full battle mode” for its next assault against its “Deep State” enemies currently waging war against President Donald Trump—but that Federation experts warn could lead to nuclear war. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]

According to this report, the American “Deep State” is a confederation of Central Intelligence Agency (CIA) operatives who have permeated every branch of the US government since the early 1950’s, and who, in 2016, were exposed by Udo Ulfkotte (the assistant editor for the German mainstream media newspaper Frankfurter Allgemeine Zeitung) as being in control of the entire Western mainstream media—and for his exposing them, was assassinated just prior to his meeting with then President-elect Trump.

With this “Deep Statetranscending all US laws and having sold-out the Pentagon’s counter-terror efforts in order to keep itself in business, this report continues, then candidate Trump aligned himself with the American military establishment to gain the presidency—and who after taking power, has appointed to his Cabinet more generals than any other US leader since World War II.

The most important “observable” military leaders appointed by President Trump to fight the “Deep State”, this report details, are General James Mattis, who now heads the Pentagon, General John Kelly, who now heads the Department of Homeland Security, former US Navy SEAL Ryan Zinke, who now leads the Department of Interior, and former US Army officer Mike Pompeo, who now heads the CIA.

Likewise, this report notes, the most important “non-observable” military leaders appointed by President Trump are Jeff Sessions, who now heads the Department of Justice, Rex Tillerson, who heads the Department of State, and Rick Perry, who heads to the Department of Energy—which is the ministry in charge of America’s nuclear arsenal currently under civilian, not military, control.

Critical to note about Trump’s “non-observable” military leaders Jeff Sessions, Rex Tillerson and Rick Perry, this report says, is that all of them are Vietnam War-era Eagle Scouts who were deferred from fighting in this conflict by the Pentagon in order for them to become established political and business leaders put into positions of power to further the goals and aims of the US military against their “Deep State” CIA adversaries.

An Eagle Scout, this report explains, is the highest rank that can be achieved in the American paramilitary youth organization called the Boy Scouts of America (BSA) that by US law [10 U.S. Code § 2554 and 32 CFR 621.4] is supported by the Pentagon—and whose members fill the US military officer ranks (especially in intelligence operations), have been trained since 2009 in fighting terrorism, all US military personal are able to receive a medal for their support of, and whose current leader is the former Defense Secretary Robert Gates.

Completing the US military takeover of the American government, this report continues, was President Trump, yesterday, appointing former US Marine General Randolph Alles to head the Secret Service (SS) that protects his, and his families, lives—and that was critical to achieve as the last president to fight against the CIA’s “Deep State (President John F. Kennedy) was allowed to be assassinated when his Secret Service protectors abandoned him in Dallas, Texas, when they were called off from their positions at the back of his limousine thus allowing assassins to blow his head off minutes later

With some American experts questioning if President Trump has lost control over the Pentagon, this report says, Security Council analysts, instead, state that the new powers he’s given to these generals is but another crucial step the US military has taken against the CIA’s “Deep State”—but whose unintended consequences could very well lead to nuclear war.

To understand the Federations nuclear war fears, this report explains, is due to the US militaries current doctrine of “Deterrence=Capability x National Interest x Signaling”—which is an aggressive formula at odds from the deterrence-chaos theory that guided both the US and USSR through the Cold War and kept World War III from destroying the entire world.

Most worrisome about this doctrine, this report states, is the “Signaling” component of this equation that calls for “Maximum Pressure”—that is now being seen as the Americans and their NATO allies continue their “forceful advance” against Russia, and even more dangerously, installing their feared THAAD missile defense system in South Korea.

With Security Council spokesman Nikolai Patrushev stating just hours ago that “we should not underestimate the North Korean issue as external provocations have put parties to the conflict on the brink of war”, this report concludes, most feared by the Federation is that President Trump and his Pentagon backers will fail to stop a CIA “Deep State” escalation of this conflict—called a “false flag event”—to which a response would most likely be a nuclear missile launch, i.e. World War III.

April 26, 2017 © EU and US all rights reserved. Permission to use this report in its entirety is granted under the condition it is linked back to its original source at WhatDoesItMean.Com. Freebase content licensed under CC-BY and GFDL.

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Trump is challenging the whole CIA-media nexus


Or to put it another way, every president since Kennedy SHOULD have gone to war with the CIA, but no president did.

Jon Rappoport's Blog

Trump is challenging the whole CIA-media nexus

Nothing like it since JFK

by Jon Rappoport

March 18, 2017

Trump’s attack on the CIA came into focus after the CIA claimed Putin subverted the election on behalf of Trump.

The Trump team retorted: Ridiculous; reminds us of the CIA’s phony assessment of Saddam’s WMDs that led to the disastrous war against Iraq.

Then the CIA’s gloves came off.

But there is more to it than that.

All along, Trump has been hammering the mainstream press, calling them biased, idiots, fake, etc. Certainly through his advisor, Steve Bannon, and quite probably through other sources, Trump knows about the CIA-major media connection. This connection, of course, goes way back to the Mockingbird CIA operation of the early 1950s. Major news outlets have been infested with CIA operatives since that time.

When Trump goes after mainstream news, he’s also going after its shadow brother…

View original post 790 more words

The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash?


TheEconomicCollapse

How The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash

By Michael Snyder

Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump.  Politicians tend to get the credit or the blame for how the economy is performing, but in reality it is an unelected, unaccountable panel of central bankers that is running the show, and until something is done about the Fed our long-term economic problems will never be fixed.  For an extended analysis of this point, please see this article.  In this piece, I am going to explain why the Federal Reserve is currently setting the stage for a recession, a new housing crisis and a stock market crash, and if those things happen unfortunately it will be Donald Trump that will primarily get the blame.

On Wednesday, the Federal Reserve is expected to hike interest rates, and there is even the possibility that they will call for an acceleration of future rate hikes

Economists generally believe the central bank’s median estimate will continue to call for three quarter-point rate increases both this year and in 2018. But there’s some risk that gets pushed to four as inflation nears the Fed’s annual 2% target and business confidence keeps juicing markets in anticipation of President Trump’s plan to cut taxes and regulations.

During the Obama years, the Federal Reserve pushed interest rates all the way to the floor, and this artificially boosted the economy.  In a recent article, Gail Tverberg explained how this works…

With falling interest rates, monthly payments can be lower, even if prices of homes and cars rise. Thus, more people can afford homes and cars, and factories are less expensive to build. The whole economy is boosted by increased “demand” (really increased affordability) for high-priced goods, thanks to the lower monthly payments.

Asset prices, such as home prices and farm prices, can rise because the reduced interest rate for debt makes them more affordable to more buyers. Assets that people already own tend to inflate, making them feel richer. In fact, owners of assets such as homes can borrow part of the increased equity, giving them more spendable income for other things. This is part of what happened leading up to the financial crash of 2008.

But the opposite is also true.

When interest rates rise, borrowing money becomes more expensive and economic activity slows down.

For the Federal Reserve to raise interest rates right now is absolutely insane.  According to the Federal Reserve Bank of Atlanta’s most recent projection, GDP growth for the first quarter of 2017 is supposed to be an anemic 1.2 percent.  Personally, it wouldn’t surprise me at all if we actually ended up with a negative number for the first quarter.

As Donald Trump has explained in detail, the U.S. economy is a complete mess right now, and we are teetering on the brink of a new recession.

So why in the world would the Fed raise rates unless they wanted to hurt Donald Trump?

Raising rates also threatens to bring on a new housing crisis.  Interest rates were raised prior to the subprime mortgage meltdown in 2007 and 2008, and now we could see history repeat itself.  When rates go higher, it becomes significantly more difficult for families to afford mortgage payments

The rate on a 30-year fixed mortgage reached its all-time low in November 2012, at just 3.31%. As of this week, it was 4.21%, and by the end of 2018, it could go as high as 5.5%, forecasts Matthew Pointon, a property economist for Capital Economics.

He points out that for a homeowner with a $250,000 mortgage fixed at 3.8%, annual payments are $14,000. If that homeowner moved to a similarly-priced home but had a 5.5% rate, their annual payments would rise by $3,000 a year, to $17,000.

Of course stock investors do not like rising rates at all either.  Stocks tend to rise in low rate environments such as we have had for the past several years, and they tend to fall in high rate environments.

And according to CNBC, a “coming stock market correction” could be just around the corner…

Investors are in for a rude awakening about a coming stock market correction — most just don’t know it yet. No one knows when the crash will come or what will cause it — and no one can. But what’s worse for most investors is they have no clue how much they stand to lose when it inevitably happens.

“If you look at the market historically, we have had, on average, a crash about every eight to 10 years, and essentially the average loss is about 42 percent,” said Kendrick Wakeman, CEO of financial technology and investment analytics firm FinMason.

If stocks start to fall, how low could they ultimately go?

One technical analyst that has a stunning record of predicting short-term stock market declines in recent years is saying that the Dow could potentially drop “by more than 6,000 points to 14,800″

But if the technical stars collide, as one chartist predicts, the blue-chip gauge could soon plunge by more than 6,000 points to 14,800. That’s nearly 30% lower, based on Friday’s close.

Sandy Jadeja, chief market strategist at Master Trading Strategies, claims several predicted stock market crashes to his name — all of them called days, or even weeks, in advance. (He told CNBC viewers, for example, that the August 2015 “Flash Crash” was coming 18 days before it hit.) He’s also made prescient calls on gold and crude oil.

And he’s extremely concerned about what this year could bring for investors. “The timeline is rapidly approaching” for the next potential Dow meltdown, said Jadeja, who shares his techniques via workshops and seminars.

Most big stock market crashes tend to happen in the fall, and that is what I portray in my novel, but the truth is that they can literally happen at any time.  If you have not seen my recent rant about how ridiculously overvalued stocks are at this moment in history, you can find it right here.  Whether you want to call it a “crash”, a “correction”, or something else, the truth is that a major downturn is coming for stocks and the only question is when it will strike.

And when things start to get bad, most of the blame will be dumped on Trump, but it won’t primarily be his fault.

It was the Federal Reserve that created this massive financial bubble, and they will also be responsible for popping it.  Hopefully we can get the American people to understand how these things really work so that accountability for what is coming can be placed where it belongs.

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Is the Media Trying to Reestablish the Establishment?


ArmstrongEconomics

They say that knowledge is power. This is why the media has been engaging in outright propaganda and they hate Trump for he has been using Twitter to bypass the corrupt media. Chris Matthews actually spoke correctly on election night, although since he has said that Russia put its “finger on the scale” to help Trump. Does this clip actually show the “real” Matthews?

The media has been cheerleaders of Hillary and the establishment all the way to the present. The media has turned against Trump viciously and clearly seem to have an agenda to help reestablish the establishment. We are seeing the very same strategy in Germany by Merkel, who is already adopting the Obama strategy by blaming Putin for any potential loss in the election.

Merkel wants full censorship of the press and bloggers. They have even called The Deutsche-Wirtschafts-Nachrichten (DWN) has been under attack by politicians in Europe for reporting the truth, accusing anyone who disagrees with government engaging in propaganda for Russia.

This is extremely dangerous for this behavior leads to a totalitarian state. I have no doubt that one day this site will be blocked in Germany, while we are one of the few sites NOT BLOCKED in China. What does that have to say about Democracy?

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President #Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again


Forbes

Inside President Trump’s otherwise “standard Trump stump speech” at CPAC was nestled what might be a most intriguing observation:

Global cooperation, dealing with other countries, getting along with other countries is good, it’s very important. But there is no such thing as a global anthem, a global currency or a global flag. This is the United States of America that I’m representing.

There’s a keen insight in there that could, just maybe, transform our lives, America, and the world. No “global currency?”  Was this, with the poetic observation that “there is no such thing as a global anthem…or a global flag,” just a trope? Or could it contain a political portent with potential high impact on world financial markets?  Let’s drill down.

As it happens, there is a global currency.

It’s called the “U.S. dollar.”

Most international trade is priced in dollars. The Bretton Woods international monetary system invested the dollar, which then was defined as and (internationally) was legally convertible to gold at $35/oz, with global currency status.  France’s then-finance minister, later its president, Valéry  Giscard d’Estaing, called the “reserve currency” status of the dollar — its status, along with gold, as global currency — an “exorbitant privilege.”

By this d’Estaing was alluding to the fact, as summarized at Wikipedia, that “As American economist Barry Eichengreen summarized: ‘It costs only a few cents for the Bureau of Engraving and Printing to produce a $100 bill, but other countries had to pony up $100 of actual goods in order to obtain one.'” That privilege, which made great sense during the period immediately after World War II, became a curse.

In 1971 President Nixon, under the influence of his Svengali-like Treasury Secretary John Connally, “suspend[ed] temporarily the convertibility of the dollar into gold.” That closure proved durable instead of temporary. The dollar became, and remains, the world’s global currency.

What had been an “exorbitant privilege” devolved into an exorbitant liability. As my former professional colleague John D. Mueller, of the Ethics and Public Policy Center, formerly Rep. Jack Kemp’s chief economist, writing in the Wall Street Journal in Trump’s Real Trade Problem Is Money recently and astutely observed:

a monetary system based on a reserve currency is unsustainable, since foreign official dollar reserves (for example) are acquired and must be repaid in goods. In other words, the increase in official dollar reserves equals the net exports of the rest of the world, which means it must also equal U.S. international payments deficits—an unsustainable situation.

In other words, if President Trump wishes to address America’s merchandise trade deficit (balanced to perfection, of course, by a capital accounts surplus) he will find that allowing the dollar to be used as the global currency is the real snake in the economic woodpile.  The dollar’s burden as the international reserve currency, not currency manipulation by our trading partners or bad treaties, is the true villain in the ongoing melodrama of crummy job creation.

Mueller’s Wall Street Journal column enumerates the three options open to President Trump:

First, muddle along under the current “dollar standard,” a position supported by resigned foreigners and some nostalgic Americans—among them Bryan Riley and William Wilson at the Heritage Foundation, and James Pethokoukis at the American Enterprise Institute.

Second, turn the International Monetary Fund into a world central bank issuing paper (e.g., special drawing rights) reserves—as proposed in 1943 by Keynes, since the 1960s by Robert A. Mundell, and in 2009 by Zhou Xiaochuan, governor of the People’s Bank of China. Drawbacks: This kind of standard is highly political and the allocation of special drawing rights essentially arbitrary, since the IMF produces no goods.

Third, adopt a modernized international gold standard, as proposed in the 1960s by Rueff and in 1984 by his protégé Lewis E. Lehrman …and then-Rep. Jack Kemp.

To “muddle along” would, of course, be entirely antithetical to Trump’s promise to Make America Great Again. It would destroy his crucial commitment to get the economy growing at 3%+ — vastly faster than it has for the past 17 years  — which also happens to be the recipe for robust job creation and upward income mobility for workers. It also is the essential ingredient for balancing the federal budget while rebuilding our infrastructure and military.

To turn the IMF into a world central bank would, of course, be anathema to Trump’s economic nationalism. To subordinate the dollar to the IMF’s SDR would be equivalent to lowering Old Glory and replacing the American flag with the flag of the United Nations on every flagpole in America. Unthinkable under a Trump administration.

That leaves the third option, to “adopt a modernized international gold standard, as proposed in the 1960s by Rueff and in 1984 by his protégé Lewis E. Lehrman … and then-Rep. Jack Kemp” (whose eponymous foundation I advise). To this one should add, as Forbes.com contributor Nathan Lewis has shrewdly observed, the removal of tax and regulatory barriers to the use of gold as currency.

As I have repeatedly observed Donald Trump shows a strong affinity for gold. He has also shown a keen intuitive grasp of  how the gold standard was crucial to having made America great:

Donald Trump: “We used to have a very, very solid country because it was based on a gold standard,” he told WMUR television in New Hampshire in March last year. But he said it would be tough to bring it back because “we don’t have the gold. Other places have the gold.”

Trump’s comment to GQ: “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money.”

Trump has been misled to believe that “we don’t have the gold. Other places have the gold.” In fact, the United States, Germany, and the IMF together have about as much gold as the rest of the world combined and America has well more than Germany and the IMF combined. [Note: This column has been updated to clarify that the United States has well more gold than Germany and the IMF combined but not, as originally stated, more than twice as much.]

We have the gold. Bringing back the gold standard would not be very hard to do.

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