Contact us
CALL US NOW 1-888-GOLD-160

Day 63: TrumpCare May Never Pass; More Russia Connections Uncovered

  by    0   1

This week, Trump’s taking to social media to transform his Twitter followers into a grassroots movement to get the TrumpCare bill passed. FBI Director James Comey sets his sights on the Trump campaign as well, dropping the bombshell on Monday that the Bureau would be investigating possible Russian collusion.

TrumpCare Support Slow Going for Leadership

  • Vote for TrumpCare delayed.
  • Lack of support could push vote as late as Monday, according to Reuters.
  • Investors are showing concern since a failed vote may be negative for pro-business agenda.

Early Thursday Trump asked his supporters via Twitter to contact their state reps to vote for his healthcare replacement. The plan still faces strong push back from Democrats and opposition from some Republicans.

The confusion and uncertainty about the bill has caused financial markets to slow down. Infrastructure spending and tax cuts are on the mind of Wall Street, and a failed healthcare bill could impact support for Trump’s future initiatives. Markets seem to be preparing for potential failure given last Tuesday’s sharp decline in stocks.

FBI: More collusion between Trump’s associates and Russian ops

  • Monday, FBI Director James Comey announced his agency would be investigating Trump’s campaign for involvement with Russia.
  • Intelligence may indicate contacts would approve timed releases of information to belittle Clinton campaign, according to CNN.
  • Next steps may involve FBI gathering conclusive info surrounding possible collusion.

The FBI noted that communication they uncovered between Trump’s associates and the Russians has halted over the past few months. Their challenge will be to discover if the methods of communication have changed or ceased altogether.

This new investigation attempts to tie together previous revelations that the Russians were involved in the DNC email hack that appeared via Wikileaks. These types of investigations commonly use many highly classified programs, and the FBI is remaining tight-lipped about who they’re focusing on.

Trump-Era dollar will continue to fall

  • The dollar seems to be slowing along with Trump’s fiscal projects and de-regulation, according to CNBC.
  • Healthcare distractions have been muddying the waters on Trump’s financial plans.
  • Trump has a history of preferring a devalued greenback.

Boris Schlossberg of BK Asset Management admitted this week that the “dollar bulls are stuck in a quagmire.” It’s a foreboding statement given the majority of the greenback’s biggest drop this year has happened since the FOMC’s recent rate increase. Supporting the dollar demise is Trump himself, whom Peter suspects of having an informal weak dollar policy:

“Donald Trump always talked about the overvalued dollar when he was a candidate. He didn’t always say, ‘the dollar is overvalued.’ He would say, ‘foreign currencies are undervalued,’ which is basically like saying the same thing only using different words … If he wants foreign currencies to appreciate, then by definition, he wants the dollar to depreciate.”


Related Posts

Silver-Gold Ratio Opening Up Again

The silver-gold ratio has ballooned again, indicating that silver is once again a bargain buy. During a gold bull market, silver typically outperforms gold. We saw this during the big runup in the price of both metals through the early months of the pandemic. In the third quarter of last year, silver charted its best […]


“Transitory” Inflation Strikes Again: FedEx Announces Big Rate Hikes

In yet another sign “transitory” inflation might not be so transitory, FedEx has announced plans to significantly hike shipping rates in 2022. FedEx said it will raise rates for US domestic, export and import services by 5.9%, on average next year. Some freight rates will rise as much as 7.9%. The company also plans to […]


Chinese Gold Market Continues Post-Pandemic Recovery

The Chinese gold market continues to show signs of recovery after it was hit hard by the coronavirus pandemic. Chinese gold demand rebounded sharply in the first half of 2021 after plummeting in 2020, and imports remained strong in July, above 2019 levels, according to the latest data from the World Gold Council. China ranks as […]


Fun on Friday: The Government Can’t Even Get Constitution Day Right

Today is Constitution Day. We’re supposed to be celebrating the day the Constitution was signed and presented to the states for ratification. But it’s pretty hard to celebrate because the Constitution is dead.


CPI Housing Cost Calculation Hides True Extent of Inflation

The government CPI data for August came in slightly under expectations. Nevertheless, a 0.3% month-on-month increase in prices is significant. And a dig into the numbers reveals something wonky. The way the government calculates housing costs drastically understates rising prices and skews overall CPI to the downside.


Comments are closed.

Call Now