Wash impact, precious metals crash! Why did Trump choose Wash?
Due to Waller's long-standing policy stance of "interest rate cuts + balance sheet reduction," the market's understanding of Waller is biased towards a hawkish view. This appointment directly sank the gold and silver prices, which had recently surged almost ninety degrees. Goldman Sachs' Rich Privorotsky believes: The greatest asset of the U.S. system is the dollar system, and without a credible central bank, it will ultimately collapse. ... In the 1970s, Volcker was not Carter's first choice, but rather the market's choice
Due to Waller's long-standing policy stance of "interest rate cuts + balance sheet reduction," the market's understanding of Waller is hawkish. This appointment directly sank the gold and silver prices, which had recently surged almost ninety degrees.
Goldman Sachs' Rich Privorotsky believes:
The biggest asset of the American system is the dollar system; without a credible central bank, it will ultimately collapse.
... In the 1970s, Volcker was not Carter's first choice, but rather the market's choice.
