with deep convictions for how to responsibly manage our nation’s finances and save our country from drowning in red ink.”
The fiscally conservative congressman also has some precious metals in his portfolio…
“Mick Mulvaney has been an active investor in gold and gold-mining stocks, often seen as a hedge against collapsing currency,” Bloomberg reported on Dec. 29.
It is clear that Mulvaney puts significant value in gold and precious metal investments. His view on gold may spur investors to turn to the yellow metal, especially amid the higher inflation costs expected from Trump’s spending plans.
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Reince Priebus, White House Chief of Staff
The Role: Priebus will supervise White House staff as essentially a gatekeeper to the president. His role will also include helping the president draft policy changes. “The biggest challenge that anyone in the chief of staff’s role faces,” Josh Bolten, former chief of staff to George W. Bush said to NPR on Nov. 14, “is to make sure that the urgent does not drive out the important.” In other words, the chief of staff will have to make sure the president doesn’t lose sight of the big picture.
His Background: Priebus is an attorney and politician whose tenure as RNC chair was the longest to date, from 2011 to 2017.
With Republicans now controlling the majority of all branches and most states, Priebus will be able to streamline President Trump’s policy agendas quickly. He will be the person responsible for making sure President Trump’s plans – like repealing the ACA and rewriting trade policies – will go forth as uninterrupted as possible.
Stephen K. Bannon, Chief Strategist
The Role: The White House chief strategist is the “whisper in the ear” to the new president. For example, when Trump needs information on how to go forth with his “America First” agenda, Bannon will be there to guide him with information on present U.S. interests and current negotiations. He will also be working “as equal partners” with Priebus, the incoming chief of staff.
His Background: Steve Bannon is the former leader of Breitbart News, a conservative media outlet. He is also a former investment banker for Goldman Sachs and Hollywood film producer.
Since Trump’s election, big bank stocks have been skyrocketing. And one company in particular has been primarily behind the “Trump Rally”…
In fact, since Nov. 8, shares of GS rose a hefty 28.39% – from $181.48 to $233.39 today.
Investors are likely betting big on impending financial industry deregulation under a President Trump, wrote longtime trading veteran Art Cashin in a note to investors on Dec. 7. Bannon is sure to whisper his thoughts often on such rollbacks.
And President Trump’s recent appointment of Sachs veterans, like Steve Bannon, is continuing to fuel investors’ bullishness on the stock.
Peter Navarro, Director of Trade and Industrial Policy
The Role: The Trade Policy and Analysis Office of the U.S. provides data and research about the various trade policies affecting U.S. industries. As the director, Navarro will facilitate a new internal council overseeing the inner-workings of myriad American business sectors while making the best decisions to promote growth all around.
His Background: Navarro has been a staunch critic of current Chinese economic policies and is the only credentialed economist in President Trump’s entire cabinet, according to The Times. He is the author of over a dozen books, including “Death by China” – an uncovering of the economic relationship between the United States and China.
“Navarro is sort of the font of ideas on how to analyze China,” said Scott Kennedy, a China expert at the Center for Strategic and International Studies to CNBC on Dec. 12.
The “Trump Trade Doctrine” – his official presidential trade policy manifesto put together by Navarro – calls for the infamous 45% tariff on goods imported from the Red Dragon by claiming such an instatement would boost federal tax revenue by $2.4 trillion.
If the tariff is imposed, some economists predict a dire outcome: That Chinese exports to the United States — worth $385.2 billion in 2016 — would be reduced by half, according to the General Administration of Customs on Jan. 15.
And China is not thrilled with the idea, either…
“I think after Mr. Trump takes office, he will be reminded that the U.S. should honor its obligations as a member of the World Trade Organization,” Zhang Xiangchen, China’s deputy international trade representative, warned in a news conference on Nov. 24. “And as a member of the WTO, China also has the right to ensure its rights.”
The WTO prohibits members from unilaterally raising tariffs above levels that they have committed to maintain – a rule that President Trump has disregarded.
The end result: a full-blown trade war between the U.S. and China.
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