Summers blasts Trump: 'No nation can devalue its way to prosperity'

Section:

The path to prosperity is suppressing the gold price -- right, Mr. Summers?

* * *

Larry Summers Blasts Trump on the Dollar: 'No Nation Can Devalue Its Way to Prosperity'

By Jessica Bursztynsky
CNBC, New York
Tuesday, July 30, 2019

The United States cannot devalue the dollar to gain prosperity, former Treasury secretary and ardent Trump critic Larry Summers told CNBC on Tuesday.

... Dispatch continues below ...


ADVERTISEMENT

USAGold: Coins and bullion since 1973


USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.



"When you signal you don't want your currency to be strong, when you trash your own country for competitiveness, you raise the borrowing costs for every American homeowner and every American company," Summers said, adding that such a move would "make the economy less competitive and less efficient."

Summers was reacting to reports that President Donald Trump asked aides to find a way to weaken the dollar as a way to boost the economy before the 2020 presidential election. ...

... For the remainder of the report:

https://www.cnbc.com/2019/07/30/ex-obama-advisor-trump-devalue-us-dollar...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/noic-promo/powellgata/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16