Trump's VP Could be a Strong Asset to Sound Money Advocates

5:51 AM


July 22, 2016 -- Well, this week Trump aimed to the unite the Republican Party, and that included putting a conservative with legislative and governing experience on the ticket.

On the issues of monetary policy in general and sound money in particular, Gov. Mike Pence could prove to be a strong asset. While in Congress, he helped lead efforts to reform the Federal Reserve, including seeking the end of the Fed’s so-called “dual mandate.”

The dual mandate is what gives Fed officials cover to pursue Quantitative Easings and other interventionist schemes in the name of promoting “full employment.” If the Fed stuck to only a single mandate of promoting price stability, then it wouldn’t be orchestrating bank bailouts or trying to boost the stock market or prevent economic cycles from running their course. The Fed would just be concerned with maintaining the value of the dollar.

Live prices at MoneyMetals.com show gold currently trading at $1,324.55 per ounce on the global market, and silver is coming in at $19.71.

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