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Day 14: Trump Becomes Volatile, Markets Respond Equally

by Peter Schiff, Schiff Gold:

rump has issued more executive orders than he’s spent days in office so far, and week two of his Presidency started off with a divisive refugee ban. From there, things have been even more tumultuous for the markets, with justice department firings and rocky discussions with global leaders.

Refugee Ban Tarnishes Foreign Relations and the Dollar

  • Many Republican leaders, from John McCain to the Koch brothers, have spoken out against the travel ban.
  • This fracturing highlights new potential uncertainty that any of Trump’s campaign goals, including stimulus plans, will easily be enacted.
  • The US business world is on high alert following the ban, Fast Company reports, as its vagueness and potential to shake up immigration law in the future could impact employees.

Gold has been on a small rally this week following Trump’s executive action to halt incoming travel of citizens from seven specific Middle-Eastern nations. The travel ban caused major moves off of risky assets and into safer financial investments like precious metals. Some investors are monitoring the potential fracturing of the Republican Party, which would likely increase market uncertainty into 2017.

Trump also issued an immigration ban that put his administration at odds with many foreign leaders like Australian Prime Minister, Malcolm Turnbull. The disagreement was reportedly over a previous agreement made with President Obama, according to the Washington Post. Regardless of the reaction to the tense conversation, if more discussions with global leaders become volatile, markets could react the same way.

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2 comments to Day 14: Trump Becomes Volatile, Markets Respond Equally

  • Ed_B

    “Refugee Ban Tarnishes Foreign Relations and the Dollar”

    First, it’s NOT a refugee ban. It’s a delay in accepting people from specific countries known to have heavy terrorist activity, much of which is either encouraged by those governments or are not actively opposing them. This is an attempt to separate REAL refugees from large groups of “refugees” that are about 90% recruiting age males. Various terrorist groups have already mentioned infiltrating refugee groups so that they can commit terrorist acts in any country stupid enough to accept refugees from the Middle East. Not surprisingly, there are plenty of idiots in the West who will accept vipers into their own nest. They, of course, will be totally surprised when they get bitten. Those of us not suffering a rectal-cranial inversion will not be at all surprised.

    2nd, if foreign relations depend upon America continuing to be a doormat, then eff foreign relations. America has plenty of resources to support ourselves. All we need do is have the courage to make use of them. If the rest of the world wants friendly and equal relations with the US, they can have them. If they want to try to continue screwing us, they need to understand that those days are well and truly over.

    As to the US dollar, yes it has problems. Some of them are self-inflicted, some are not. But it is the fiat monetary standard in the world today. That is likely to change someday but for now it is the primary world reserve currency.

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