Six Steps Trump Can Take Toward Better Monetary Policy

Jon Alternative Media, Economy, Fiscal Policies, Gold, Government, Market Commentary, Politics, Precious Metals

Since Nixon severed the final link to gold in 1971, the US dollar has lost more than 80% of its purchasing power, wreaking havoc on ordinary savers, conservative investors, and households on fixed incomes. Today, inflationary monetary policy continues to be a foundational tenet of all presidential administrations as politicians and central bankers have heedlessly been borrowing and printing currency without restraint in order to bankroll today’s bloated and insolvent federal government.
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Movement in the direction of sound money is badly needed, and even without abolishing central banking, there are several steps that the Trump administration can take toward improving monetary policy.
Step One: Audit the Fed From Ron Paul to Bernie Sanders and many people in between, there has been plenty of support for ‘Audit the Fed’ legislation. Politicians and constituents alike agree that the Federal Reserve lacks even the most basic oversight a government-sponsored institution should have – particularly when its officials can make decisions which can bring the American economy to its knees.

This post was published at Ludwig von Mises Institute on Dec 16, 2016.