Trump: Dollar Is Too Strong/Yellen: Raise Rates
Trump’s America First Industrialization Plans vs Fed’s Independence May Clash.Historical Perspective: Richard Nixon vs. Fed Chair Arthur Burns.
What Trump Wants
Trump wants a weaker dollar to help US industrial exports, precisely at the time when the dollar is strengthening due to tighter Fed monetary policy
What the Fed Wants
The Fed has been talking about gradually raising rates for years but to date has not done so.
Politics may have played a roll in the Fed’s very restrained tightening policy. With Obama gone and Hillary Clinton not succeeding him, the Fed may now embark on their often promised gradual rate hike path.
The Nixon Burns parallel of 1971
In 1971, President Nixon pressured his own Fed Chairman, Arthur Burns, to keep monetary policy loose. Mr. Burns succumbed to Presidential pressure and shattering the long held belief that the Fed is independent.
Source: Arthur Burns Diary:Inside the Nixon Administration
Potential Outcome:
If the Fed decides to continue raising interest rates in 2017, and the dollar continues to strengthen, we expect President Trump to attack Fed Chair Yellen publicly and work to undermine her and the Fed’s credibility. We also expect in such circumstances, President Trump to support legislation to audit, restrain or even end the Fed if he believes the Fed are not putting “America First” in the conduct of their monetary policy.
If the Fed persists in following an independent course that includes raising interest rates, that causes the dollar to strengthen further, President Trump will most likely push for tariffs to offset the stronger dollar.
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Top economic story of the week: Gold and silver rise third week in a row!
Gold and silver.
Gold closed last week at $1196.90 an ounce and closed this week at $1209.80 up 1.1%
Silver closed last week at $16.81 an ounce and closed this week at $17.06 up 1.5 %
The gold and silver ratio ended the week at 70.93:1
You Tube Notes to this report
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Charts of the week
Gold
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Here are the stories we wrote, followed or commented on.
January 16, 2017
Gold
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
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Golden Eagle Coins
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January 17, 2017
Gold
Flooded Bang Saphan residents strike gold
Trump on Dollar
Trump says the Dollar is “too strong”
U.S. Mint Sales Update
U.S. Mint reported selling 825,000 American Silver Eagles and 10,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,572,500 & American Gold Eagles sold 65,500
YTD American Silver Eagles Sold 4,572,500/American Gold Eagles sold 65,500
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 0
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 26,000 sold
YTD 26,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
January 18, 2016
From Smaulgld.com
WHEN THE CIA SUSPECTED GOLD MARKET MANIPULATION
This story was also republished in Zerohedge
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 2,500 American Gold Eagles today.
MTD American Silver Eagles sold 4,572,500 & American Gold Eagles sold 68,000
YTD American Silver Eagles Sold 4,572,500/American Gold Eagles sold 68,000
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 0
The U.S. Mint reported selling 0 American Gold Buffalo coins.
MTD 26,000 sold
YTD 26,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
Fed
Fed’s Williams calls for further gradual U.S. rate hikes
Yellen calls for rate hikes
US Economic Data
Industrial Production 0.8%, Exp. 0.6%, Last -0.7%
Mfg Production 0.2%, Exp. 0.4%, Last 0.1%
CPI 2.1% Y/Y, Exp. 2.1%;
CPI 0.3% M/M, Exp. 0.3%
CPI Core 0.2% M/M, Exp. 0.2%
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January 19, 2016
US Economic Data
Initial Claims 234K, Exp. 254K
Housing Starts: 1,226K, Exp. 1,188K
Permits: 1,210K, Exp. 1,225K
Jan Philly Fed 23.6, Last 19.7
ECB
ECB Leaves Rates Unchanged, Keeps QE At €60BN “if the outlook becomes less favourable, the Governing Council stands ready to increase the programme in terms of size and/or duration”
DRAGHI: TAPERING NOT DISCUSSED; WHEN TIME TO TAPER, TO HAVE VERY DEEP, CAREFUL ANALYSIS
Gold
Donald Trump, gold and the cognac effect
Donald Trump Pizza’ topped with gold leaf, caviar
This gold ‘Trump Pizza’ will make thousands for shelter
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 2,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,572,500 & American Gold Eagles sold 70,000
YTD American Silver Eagles Sold 4,572,500/American Gold Eagles sold 70,000
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 0
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 26,500 sold
YTD 26,500 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
Donate To Smaulgld.com via paypal
January 20, 2016
From Smaulgld.com
RUSSIA ADDS 199 TONS OF GOLD TO RESERVES IN 2016
Trump inaugurated changes drapes in oval office to gold!
Fed Chatter
PHILLY FED’S HARKER: 3 MODEST HIKES THIS YEAR APPROPRIATE
January 21, 2017
From Smaulgld.com
THE YEAR THE UNITED STATES SOLD OVER 700 TONS OF GOLD
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Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
January 22, 2017
From Smaulgld.com
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
Sign Up For Smaulgld.com Updates Here!
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