Trump Unveils Economic Strategy on FOX Business

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Date: August 3, 2024

In an interview with FOX Business, former President Trump outlined his plans to rejuvenate the U.S. economy:
Taxes: Trump highlighted his past tax cuts, claiming they led to increased revenue and economic growth. He reiterated support for tax-free tipped wages and suggested that further tax cuts could stimulate the economy and aid in debt reduction.
Tariffs: Trump proposed a reciprocal tariff policy, where the U.S. would impose equivalent tariffs on countries that impose tariffs on American goods. He argued that this strategy would protect U.S. interests and address trade deficits with countries that he claims mistreat the U.S., including both adversaries and allies.
Electric Vehicles (EVs): Trump criticized the push for all-electric cars, pointing out dependency on China for EV production and advocating for a mixed approach that includes hybrids and gasoline-powered vehicles. He argued that while electric cars have their place, they are currently too expensive and impractical for widespread use.
Cryptocurrency: Trump sees a significant potential for cryptocurrency in the U.S. economy, criticizing the Biden administration's approach to regulation. He believes that embracing crypto could position the U.S. as a global leader in this emerging market.
Overall, Trump's economic plan focuses on reducing government waste, implementing strategic tax and tariff policies, diversifying the automotive industry, and embracing technological innovations like cryptocurrency to boost national economic growth and security.

G-20 Plans Extraordinary Meeting to Discuss Debt Relief

Finance ministers and central bankers from the worlds largest economies plan to hold an extraordinary meeting on November 13 to discuss bolder action to help poor nations struggling to repay their debts.
The meeting could mark the next phase in the global debt-relief drive-by bolstering coordination between government creditors over how to restructure the debts of poor economies hit hard by the coronavirus pandemic.
Sources: finance.yahoo.com

Russia invites Iraq to join BRICS

The Russian ambassador in Baghdad Elbrus Kutrashev invites Iraq to join BRICS.
He expressed personal ties to the country. Russia pledges support and dismisses any agenda against the U.S.
He recalls Iraq's resistance to American occupation and clarifies Russian companies' interest in Iraq as commercial expansion, not filling voids.
The ambassador denies plans to send Russian forces, emphasizing it's not Russia's approach but the U.S.'s.
Additionally, he mentions Iraq's role in mediating conflicts and affirms Russia's readiness for a solution.

The Central Bank of China Extends Gold Buying

China Extends Gold Buying With Fresh Flows to Central Bank.
The People's Bank of China raised its holdings by 30 tons in December, according to data on its website on Saturday.
This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons.
Sources: bloomberg

China astounding Gold reserves to be revealed in CDBC announcement

China hoarded an enormous amount of the precious metal.
China Gold reserves to be revealed in Central Bank Digital Currency announcement that threatens U.S. currency hegemony.
It is expected a major announcement of Chinese gold holdings that would astound most analysts would probably be accompanied with any Central Bank Digital Currency release and mention of gold backing.
Source: asiamarkets

A new gold standard is coming

Excessive monetary stimulus, a by-product of an undisciplined fiat money system, will create problems for our economy as well as financial distortions, and the long-term solution is to move away from this system and re-adopt a gold standard.
There are a lot of financial bubbles, there are excessive debt levels, inequality is rising, you have got moral hazards, all these side effects of a fiat money standard are not really what we want, and eventually we get a lot of monetary instability and I think then at that point we have to get back to a gold standard.
Sources: www.silverdoctors.com, www.youtube.com