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Hugo Salinas Price: Is Trump's 'madness' aiming for a return to gold?
9:18p ET Thursday, June 14, 2018
Dear Friend of GATA and Gold:
In attacking the mammoth trade deficit of the United States, Hugo Salinas Price of the Mexican Civic Association for Silver writes today, President Trump is attacking the dollar's function as the world reserve currency and foreshadowing the replacement of the dollar with gold.
Salinas Price writes: "If the dollar -- such as it is -- is going to be the basis of the world's monetary system, and therefore required by all central banks as reserves, there is only one way that these central banks can obtain those reserves: Their countries are forced to undersell all U.S. producers, in order to be able to sell more to the United States than they buy from the United States. The dollars they get from sales are more than the dollars they spend to buy from the U.S. That difference -- the U.S. trade deficit -- flows to the central banks of the world and swells their reserves."
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Salinas Price wonders if, as he alienates U.S. allies with his trade policy, the president has a method to his madness -- the return to gold.
Salinas Price's commentary is headlined "Donald Trump's 'Madness'" and it's posted at the association's internet site, Plata, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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