Trump: I Will Abolish The Federal Reserve

Federal Reserve

Donald Trump has vowed to abolish the Federal Reserve and reinstate the gold standard when he enters the White House in January. 

One of Trump’s picks for the Treasury Department Secretary, John Allison, hinted that he will implement the gold standard when the current Federal Reserve Chief, Janet Yellen, retires in 2018.

Conservativedailypost.com reports:

On the campaign trail, Trump often questioned the future of the Federal Reserve’s political independence. In line with these comments, Allison wants to abolish Federal Reserve all together and go back to the gold standard.

In fact, Allison takes that rhetoric one step further. While acting as the head of the Cato Institute, Allison published several thesis indicating that the Federal Reserve was obsolete and needed to be abolished as it restricts power from the people and allows billionaire cronies to run banks globally.

“I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed,” Allison wrote in 2014 for the Cato Journal.

As an alternative, Allison argues that if we allow the market to regulate itself, it would be preferable to the Federal Reserve harming the stability of the financial system.

“When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult,” Allison wrote. “Markets do form bubbles, but the Fed makes them worse.”

The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created in 1913.

About David Robinson

REVISED: David Robinson is an Author and Journalist living in the mid-coast area of Maine. He is a Graduate and Alumni of the Brunswick Police Academy. He served as a JUROR seated on the Cumberland County, Maine, Grand Jury for the first four-month session of 2014. Publisher Robinson served 3 months of a 4-month sentence for Conspiracy to defraud the United States, at the FCI Berlin minimum security Satellite Camp in Berlin New Hampshire, as retaliation after he and a friend sued the IRS, unsuccessfully, for Unfair Trade Practices, under Title 15 of the US Code. +++ Maine Lawsuit Against The IRS: For Unfair Trade Practices (http://tinyurl.com/hm8gdls) +++ Failure to File & Conspiracy: United States vs. Messier & Robinson - No. 2:14-cr-00083-DBH (http://tinyurl.com/gwdyaps) +++ On Appeal from the United States District Court for the District Court of Maine / REPLY BRIEF OF ROBINSON (http://tinyurl.com/zyp9f3x) +++ Books by David E. Robinson (http://tinyurl.com/zrr9bxb)
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