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Now that election uncertainty is over, the stock market broke out of its sideways trading range and continued higher. Potential policy implementations benefit some asset classes, such as cryptocurrencies, which could operate in a more relaxed regulatory environment.

Coinbase Global Inc. (COIN), a crypto-related stock, made it to the top of the Top Up Large Cap stocks in the StockCharts Technical Rank (SCTR) Reports on Wednesday, the day after the US elections.

FIGURE 1. COINBASE IN TOP POSITION. A 65.7 rise in the SCTR score is an impressive one day jump.Image source: StockCharts.com. For educational purposes.

The weekly chart of Coinbase stock shows a series of lower highs and lower lows from March 2024. COIN has broken above the upper channel line, but it’s just the beginning. More momentum needs to be behind Coinbase’s stock price to see follow-through in this movement.

FIGURE 2. WEEKLY CHART OF COINBASE. Since March 2024, COIN has been consolidating. With Wednesday’s price action, the stock price broke through the upper channel of the consolidation pattern.Chart source: StockCharts.com. For educational purposes.

The daily chart (see below) shows that the uptrend has started. Coinbase’s stock price gapped up and closed near its daily high on strong volume.

FIGURE 3. DAILY CHART OF COINBASE. Wednesday’s gap up in COIN is encouraging. Will there be enough momentum for a follow-through? Chart source: StockCharts.com. For educational purposes.

COIN is trading above its 21-day exponential moving average (EMA), its SCTR score crossed over 76, and its relative strength index (RSI) is getting close to the 70 level.

When To Buy COIN

I would look at the weekly chart to identify the entry point. Since COIN has broken out of its downward channel, an ideal scenario would be if the stock price pulled back a bit and reversed, at which point I would look for an entry point at around $250. The RSI should also be greater than 70. The first resistance level to watch for would be around $265, a previous high. If COIN pushes through that level, the next level would be $280. It could go even higher if the momentum is behind it. COIN’s all-time high is $429.54.

If owning shares of Coinbase is a stretch at current price levels and you have signed up for the OptionsPlay Add-on, consider trading options on the stock. Below the chart, under Tools & Resources, click on Options, then the OptionsPlay button.

FIGURE 4. OPTIONS STRATEGIES TO TRADE COINBASE. You can see up to three optimal options strategies depending on your directional bias and implied volatility.Image source: StockCharts.com. For educational purposes.

By default, three strategies will be displayed for a bullish scenario. In the screenshot above, the Jan 17 250/340 call vertical has a relatively decent reward for a max risk of $2,600. Click the expand icon at the top right to see more details.

The stock trend doesn’t meet this trade’s requirements. You could modify the legs to see if another strike price or expiration will meet the trend requirement. Another option is to close this window and try out a bearish or high implied volatility environment to see if you get a more optimal strategy.

FIGURE 5. CALL VERTICAL DETAILS. You can get more granularity for the call vertical when you click the expand icon. All except stock trend checks off in the strategy checklist.Image source: StockCharts.com. For educational purposes.

Once you’ve found a strategy you’re comfortable trading, click the Trade button and copy the trade to your trading platform if you have an options-enabled trading account.

The Bottom Line

Coinbase stock has the potential to rise higher, but a one-day jump in price shouldn’t be your entry criteria. You must still analyze the chart and decide on an entry and exit point that works for your risk tolerance level. Add COIN to your ChartLists and, if possible, set an alert for an entry point. Once you have a position open, follow smart risk management strategies and be prepared to exit a position once it has crossed your exit threshold. You never lose money when taking profits early.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

In this exclusive StockCharts video, Joe shows a specific trade setup in multiple timeframes that identifies the start of an important trend. He explains the 4 keys to this setup and shows 5 examples of stocks meeting the criteria right now. Joe then covers numerous indices, commodities, 10-year Rates, and Bitcoin, and how they are reacting to the election. Finally, he goes through the symbol requests that came through this week, including AMZN, AAPL, and more.

This video was originally published on November 6, 2024. Click this link to watch on StockCharts TV.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

In the wake of former President Trump’s historic win projected by the Fox News Decision Desk, several winners and losers of the 2024 election have become clear.

Here are those who came out on top on Election Day and those who didn’t quite meet expectations.

Winners

Trump defied all expectations, even some of the more conservative-leaning estimates of the 2024 election. By notable margins, Trump defeated Vice President Kamala Harris in several key battleground states, being projected by the Fox News Decision Desk to win the election by amassing the necessary 270 electoral votes before a number of other top swing states had been called.

Trump’s top of the ticket projected victory was followed by significant victories for Republicans across the board. Senate Republicans were projected by the Fox News Decision Desk to retake the majority in the Senate in 2025, racking up wins in West Virginia, Ohio and Montana, which were previously blue. There are still multiple outstanding Senate races in swing states, giving the party hope for an even larger majority. 

Losers

Senate Majority Leader Chuck Schumer, D-N.Y., is one of the biggest losers in this particular election, as voters decisively removed his party from the majority in the upper chamber. He will instead lead the minority in the new Congress. Democrats suffered projected losses in West Virginia, Ohio and Montana, effectively killing any chance they had of keeping the majority. They also failed to flip any of their Republican targets, such as Texas or Florida. There are still several Senate races in swing states yet to be called that could increase the GOP’s majority over them.

Political polls failed to accurately predict the projected decisive victory Trump saw in the 2024 election. The RealClearPolitics polling averages underestimated the former president, putting him behind Harris in swing states that he was projected to win and showing Trump leading by a smaller margin than he ultimately did in other battlegrounds. A respected Iowa pollster’s results predicted the state would be led by Harris, and ended up being off by double digits as Trump took Iowa.

As a whole, the Democratic Party was dealt a devastating blow by voters across the country. Not only was their presidential nominee categorically rejected by the American people, but the implications of that loss further dragged down candidates across the board, per the Fox News Decision Desk’s projections. Incumbent senators in some swing states are in battles for their political lives that could take days to resolve. This comes as the party has already lost two blue-held seats in Ohio and Montana. Republicans in the House are also feeling bullish that they could complete the GOP trifecta in Washington, D.C.


This post appeared first on FOX NEWS

Vice President Kamala Harris’ abiding silence following President-elect Trump’s victory suggests an inability to step up as a leader for her base, legal scholars say.

The Democratic nominee has not yet spoken to her supporters, nor encouraged them to accept the election results, since Trump was named the victor of the 2024 presidential race early Wednesday morning. Two sources confirmed to Fox that the Harris campaign was radio silent Wednesday morning and did not provide talking points to surrogates, donors or influencers. 

The vice president is expected to deliver remarks at Howard University at 4 p.m. EST on Wednesday, where she will address Americans for the first time since losing the presidential race to Trump. However, analysts say she should not have waited until the afternoon after the election to address her base.

Jonathan Turley, a legal scholar and a Fox News contributor, said Trump’s clear path to victory should have prompted her to concede sooner.

‘The true test of leadership is to step forward when it is most needed. Half of this population is deeply aggrieved by this decision. Part of that angst and anxiety was fueled by the rage rhetoric and panic politics on the left, including the Harris campaign,’ Turley told Fox News Digital. 

‘Just as voters were going to the polls, the New York governor declared a majority of voters to be ‘unAmerican.’ This is the call of leadership to step forward and acknowledge the victory. There are no major challenges or questions. The election is over,’ Turley added. ‘The only remaining matter is a concession. It has to be more than an afterthought in the late afternoon the following day. It needs to be rendered when it is most needed.’

Legal analyst Andy McCarthy, a FOX News contributor and a senior fellow at the National Review Institute, suggested that remaining out of sight since the election results is a ‘graceless’ misstep.

‘I’d just conclude that this is yet another indication – among countless indications – that she was neither substantively nor temperamentally up to the presidency,’ McCarthy told Fox News Digital. ‘There is no apparent legal strategy at work. She is simply being graceless and suggesting that she and her team do not know what to do… even though what to do is obvious: concede, congratulate the new president, and pledge to cooperate in an efficient transition.’

‘I think this has less to do with democracy per se than with Harris’s lacking a grasp of American democratic tradition,’ McCarthy continued. ‘Perhaps she figures Trump doesn’t rate consideration due to his refusal to accept the 2020 election results. But if that’s the case, it’s not sensible, it’s spiteful.’

Harris was not present at her victory event at Howard University on Tuesday night, which came to an abrupt end ahead of Trump being named the winner of the presidential race.

Despite not making any public appearances or remarks since election night, Harris reportedly called Trump to congratulate him on winning the race ahead of her speech Wednesday afternoon, according to a senior Harris aide.

Fox News’ Jacqui Heinrich contributed to this report.


This post appeared first on FOX NEWS

Vice President Kamala Harris standing up her devastated Democratic supporters on election night is drawing attention to a similar choice by former Secretary of State Hillary Clinton in November 2016.

Both Democrats would have become the country’s first female president if they beat Republican rival Donald Trump.

In 2016, when the race was called for Trump, Clinton did not address her supporters until the following morning. Harris will speak to supporters Wednesday evening.

At the time, some critics blasted Clinton for not giving a consolation speech that same night at the Javits Center in New York. Clinton instead allowed her campaign manager, John Podesta, to briefly speak to supporters.

On the following day, Clinton urged her supporters to ‘accept this result, and then look to the future.’

‘Donald Trump is going to be our president. We owe him an open mind and the chance to lead,’ she said. 

Likewise, on Tuesday night, Harris supporters trickled out of the watch party at Howard University once they learned from a Harris spokesperson she would not be addressing the crowd.

Users on social media quickly took note and critiqued the VP for not showing her face after supporters waited hours for her to come out.

‘Kamala Harris had like 10,000 people at her watch party and didn’t even show up,’ one user on X wrote. ‘Apparently their time meant nothing to her. That final act is so reflective of why she lost.’

Another user wrote, ‘Harris didn’t even show up to her own campaign party last night to greet her supporters. It just goes to show what an elitist she is and messed up the party is to think this is ok.’

Harris called Trump on Wednesday to formally concede the race. Clinton called Trump on election night in 2016 to concede.

According to a staff memo sent out by Harris’ campaign manager Jen O’Malley Dillon obtained by Fox News, Dillon said, ‘Losing is unfathomably painful’ on Wednesday.

‘Just a few moments ago, the Vice President connected with President Trump to concede the race,’ the email read. ‘In the call, she told him that she would work with President Biden to ensure a peaceful transfer of power, unlike what we saw in 2020. She also made clear that she hopes he will be a President for all Americans.’

Harris was selected by the Democratic National Committee during the summer after President Biden dropped out of his re-election bid following his poor debate performance against Trump and just one week after an assassination attempt against Trump. Harris previously ran for president in 2020, but her campaign was short-lived. She dropped out in December 2019, citing lack of campaign funds. 


This post appeared first on FOX NEWS

Vice President Kamala Harris has connected with former President Donald Trump and conceded the race, according to a letter sent out by her campaign manager stating that ‘the work of protecting America from the impacts of a Trump Presidency starts now.’

In a letter obtained by Fox News, campaign manager Jen O’Malley Dillon states that Harris had called Trump ‘to ensure a peaceful transfer of power, unlike what we saw in 2020.’

The letter continues, ‘I don’t have words to express the gratitude I have for everyone getting this email. You left everything on the field. You built a first-rate, historic Presidential campaign in basically 90 days. You navigated things that no one has ever had to navigate, and likely no one will ever have to again.’

Harris said she also made clear that she hopes he will be a ‘President for all Americans.’

‘You stared down unprecedented headwinds and obstacles that were largely out of our control. We knew this would be a margin of error race, and it was. And, your work mattered: the whole country moved to the right, but compared to the rest of the country, the battleground states saw the least amount of movement in his direction,’ Harris wrote. ‘It was closest in the places we competed. That speaks to both the work you did, and the scale of the challenge we ultimately couldn’t surmount.’

Harris is expected to make public comments later Wednesday afternoon during a speech at Howard University in Washington, D.C.

‘I’ll leave you with this: losing is unfathomably painful. It is hard. This will take a long time to process. But the work of protecting America from the impacts of a Trump Presidency starts now,’ Harris vowed.

‘I know the Vice President isn’t finished in this fight, and I know the very people on this email are also going to be leaders in this collective mission. View this as the beginning, not the end. It will be hard work. But as the boss says: hard work is good work. And I look forward to standing beside you.’

Trump campaign communications director Steven Cheung released a statement mentioning Harris’ call with Trump. 

‘President Donald J. Trump and Vice President Kamala Harris spoke by phone earlier today where she congratulated him on his historic victory,’ Cheung said. ‘President Trump acknowledged Vice President Harris on her strength, professionalism, and tenacity throughout the campaign, and both leaders agreed on the importance of unifying the country.’

President Biden reached out by phone and spoke with Vice President Harris and congratulated her on a historic campaign, Fox News senior White House correspondent Peter Doocy reported.

Following his call with Harris, Biden also spoke by phone with Trump and congratulated him on his victory. 

During their call, Biden expressed his commitment to ensuring a smooth transition and emphasized the importance of working to bring the country together. 

He also invited President-elect Trump to meet with him in the White House. The staff will coordinate a specific date in the near future. 

Biden is expected to address the nation on Thursday to discuss the election results and the transition.

Trump defeated Vice President Harris, who entered the presidential race just over 100 days ago after Biden, who won the Democratic primaries, was convinced to stand down.

Trump will be the only president to serve two nonconsecutive terms other than Grover Cleveland, who was elected in 1884 and again in 1892. 


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With protectionist views and a mandate to “make America great again,” what does another Donald Trump presidency mean for the domestic and international resource sectors?

During his first term in office, Trump focused on deregulation and energy independence, aiming to boost American oil, gas and coal production while rolling back environmental protections.

As he prepares to lead the US for a second time, experts are already speculating that Trump will pursue similar policies, providing support for the mining and energy sectors, but stalling clean energy efforts.

Drill, baby, drill? Oil, gas and mining under Trump

The president-elect is likely to take an “America first” approach to many of his policy decisions. This protectionist approach has been viewed as supportive of the US fossil fuel and mining industries, prioritizing energy independence and economic growth through expanded oil, gas and coal production.

There has also been speculation that he could ease environmental regulations, expedite drilling permits and encourage domestic mining for critical minerals — all of which would help the US resource industry.

Offering insight into how the 47th president may impact the oil and gas sector, Matthew Cunningham, editor at FocusEconomics, said oil prices may get a boost as supply declines and US demand rises.

“On the supply side, Trump could tighten sanctions against oil producers Iran and Venezuela, a strategy he pursued during his last mandate; on the demand side, Trump could scrap regulations and tax credits encouraging the production of electric vehicles (EVs), in turn raising demand for gasoline and therefore crude oil,’ he explained.

The Republican Party first used the ‘drill, baby, drill’ mantra in 2008, and during his campaign the president-elect was quick to adopt the idea in his approach to the US oil and gas sector. “Trump is also vocal about wanting to boost domestic crude production, stating if he were ‘a dictator for a day,’ he would use his power ‘for drilling and for closing the border,’ though government policy typically only has a limited impact on US output,” said Cunningham.

Drilling could also refer to mining, a topic Trump has also spoken on during the campaign season. At a July rally in Minnesota, he told the crowd he would repeal a Biden-era 20 year mining ban in the state.

“We will end that ban, in about, what do you think, in about 10 minutes, I would say about 10 to 15 minutes, right Pete?” Trump said, referring to Pete Stauber, Minnesota’s Republican representative.

“Tonight, I pledge to Minnesota miners that when I am reelected, I will reverse the Biden-Harris attack on your way of life and we will turn the Iron Range into a mineral powerhouse like never before,” he added.

Increasing US uranium supply is an issue that has garnered support on both sides of the aisle.

During his previous term in office, Trump called for the creation of a US uranium reserve, outlining plans to spend US$150 million annually on U3O8 purchases. The earmarked funds were part of his proposed 2021 budget, which failed to come to fruition as Trump lost the 2020 presidential race to current President Joe Biden.

This time, the president-elect could allocate more money to the domestic stockpile.

“Luckily, uranium is one of the few things that both Democrats and Republicans can agree on — we’ve actually gotten surprisingly bipartisan support,” said Gerardo Del Real, co-founder of Digest Publishing and editor of Daily Profit Cycle. “So regardless of who ends up winning this election, I think there’s nothing, but bright days ahead in the uranium sector.’

To increase supply and ensure energy security, Trump could repeal a Biden-era uranium-mining ban near the Grand Canyon. In August 2023, the Biden administration designated Baaj Nwaavjo I’tah Kukveni a national monument, protecting over a million acres from uranium mining to preserve Indigenous sites and water resources.

With Trump soon to return to office, some wonder if his pledge to revise the Antiquities Act under the Project 2025 playbook will mean fewer protections for Baaj Nwaavjo I’tah Kukveni and other areas.

Ultimately, a second Trump administration could expand mining and drilling on US federal lands, potentially affecting parks and protected areas. While supporters are pointing to the benefits of securing energy independence, critics are warning of environmental damage and risks to wildlife and Indigenous lands.

Protectionism may boost US EV supply chain

Although Trump has spoken out against about EVs in the past, some market watchers believe his strong opposition toward China may ultimately benefit the US battery metals supply chain.

There has been speculation that Trump will look to levy 10 percent or higher tariffs on a wide range of Chinese imports. Given that the Asian nation is a leading producer of EV batteries, and the primary refiner for many in-demand EV materials, it’s possible such tariffs will bode well for domestic supply chain growth in the US.

“On the supply side, future federal funding for the development of a domestic supply chain may be more frugal following a Trump outcome, but his administration’s stance remains quite anti-China, and developing a domestic supply chain would remain aligned with this ideology,” Megginson explained in his comments.

Jack Bedder of Project Blue said he will be watching for regulation changes that could impact the cobalt supply chain.

Also speaking about cobalt, Roman Aubry, cobalt pricing analyst at Benchmark, noted that a Democrat win would likely be “better” for long-term demand for cobalt. Now that Trump has secured the White House, the expert will be watching what the new administration does regarding the Inflation Reduction Act (IRA).

“Although a Trump victory is unlikely to lead to repealing the IRA, he has been critical of the EV industry previously,” Aubry said. “Furthermore, changes to the (foreign entity of concern) thresholds could further limit tax credits to other foreign countries in an attempt to bolster the US domestic market as part of his ‘tough on China’ approach.”

Trump seen slowing energy transition

Looking at the energy transition more broadly, experts are already suggesting that while Trump may impede the shift, he won’t stop it entirely. While federal incentives might face challenges, the clean energy momentum driven by state policies, corporate commitments and economic factors will likely keep growth on track, albeit at a reduced pace.

“There is no denying that another Trump presidency will stall national efforts to tackle the climate crisis and protect the environment, but most US state, local, and private sector leaders are committed to charging ahead. And you can count on a chorus of world leaders confirming that they won’t turn their back on climate and nature goals,” Dan Lashof, US director of the World Resources Institute, said in a press release following the election results.

He went on to state that Trump’s return to office is unlikely to stop US clean energy growth, which has accelerated through bipartisan support for wind, solar and battery projects spurred by recent federal investments.

Leaders across political lines see clean energy as economically beneficial and a strong job creator, and Trump could face bipartisan resistance if he attempts to dismantle these incentives.

Lashof also pointed to the mounting toll of climate disasters. As of November 1, the US had experienced 24 “weather or climate disasters” for the year, with each resulting in more than US$1 billion in damages.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.

Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.

Now that Trump has won the 2024 US presidential election, some are again wondering if he will return the country to the gold standard after he takes office in January 2025. Speaking on his War Room podcast in December 2023, Steve Bannon, Trump’s former chief strategist, said he believes the president elect could ditch the US Federal Reserve and bring back the gold standard in his second term in office.

More recently, the Heritage Foundation included a whole chapter on the US Federal Reserve written by a former member of Trump’s 2016 transition team in its Project 2025 (a proposed blueprint for Trump’s second term), and suggested a return to the gold standard. While President Trump has publicly disavowed Project 2025, its creators say he is privately supportive of the initiative.

Read on to learn what the gold standard is, why it ended, what President Trump has said about bringing back the gold standard — and what could happen if a gold-backed currency ever comes into play again.

What is the gold standard?

What is the gold standard and how does it work? Put simply, the gold standard is a monetary system in which the value of a country’s currency is directly linked to the yellow metal. Countries using the gold standard set a fixed price at which to buy and sell gold to determine the value of the nation’s currency.

For example, if the US went back to the gold standard and set the price of gold at US$500 per ounce, the value of the dollar would be 1/500th of an ounce of gold. This would offer reliable price stability.

Under the gold standard, transactions no longer have to be done with heavy gold bullion or gold coins. The gold standard also increases the trust needed for successful global trade — the idea is that paper currency has value that is tied to something real. The goal is to prevent inflation as well as deflation, and to help promote a stable monetary environment.

When was the gold standard introduced?

The gold standard was first introduced in Germany in 1871, and by 1900 most developed nations, including the US, were using it. The system remained popular for decades, with governments worldwide working together to make it successful, but when World War I broke out it became difficult to maintain. Changing political alliances, higher debt and other factors led to a widespread lack of confidence in the gold standard.

What countries are on the gold standard today?

Currently, no countries use the gold standard. Decades ago, governments abandoned the gold standard in favor of fiat monetary systems. However, countries around the world do still hold gold reserves in their central banks. The Federal Reserve is the central bank of the US, and as of November 2024 its gold reserves came to 8,133.46 metric tons of the yellow metal.

Why was the gold standard abandoned?

The demise of the gold standard began as World War II was ending. At this time, the leading western powers met to develop the Bretton Woods agreement, which became the framework for the global currency markets until 1971.

The Bretton Woods agreement was born at the UN Monetary and Financial Conference, held in Bretton Woods, New Hampshire, in July 1944. Currencies were pegged to the price of gold, and the US dollar was seen as a reserve currency linked to the price of gold. This meant all national currencies were valued in relation to the US dollar since it had become the dominant reserve currency. Despite efforts from governments at the time, the Bretton Woods agreement led to overvaluation of the US dollar, which caused concerns over exchange rates and their ties to the price of gold.

By 1971, US President Richard Nixon had called for a temporary suspension of the dollar’s convertibility. Countries were then free to choose any exchange agreement, except the price of gold. In 1973, foreign governments let currencies float; this put an end to Bretton Woods, and the gold standard was ousted.

What is the US dollar backed by?

Since the 1970s, most countries have run on a system of fiat money, which is government-issued money that is not backed by a commodity. The US dollar is fiat money, which means it is backed by the government, but not by any physical asset.

The value of money is set by supply and demand for paper money, as well as supply and demand for other goods and services in the economy. The prices for those goods and services, including gold and silver, can fluctuate based on market conditions.

What has Trump said about the gold standard?

While it’s perhaps not common knowledge, Trump has long been a fan of gold.

In fact, as Sean Williams of the Motley Fool has pointed out, Trump has been interested in gold since at least the 1970s, when private ownership of gold bullion became legal again. He reportedly invested in gold aggressively at that time, buying the precious metal at about US$185 and selling it between US$780 and US$790.

Since then, Trump has specifically praised the gold standard. In an oft-quoted 2015 GQ interview that covers topics from marijuana to man buns, Trump said, “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money.”

In a separate interview that year, he said, “We used to have a very, very solid country because it was based on a gold standard.”

According to Politico’s Danny Vinik, “(Trump has) surrounded himself with a number of advisors who hold extreme, even fringe ideas about monetary policy. … At least six … have spoken favorably about the gold standard.” Shelton and Allison, mentioned above, are not alone. Others include Ben Carson and David Malpass. The last two, Rebekah and Robert Mercer, eventually distanced themselves from Trump, but had a strong influence before that.

Emphasizing how unusual President Trump’s support for the international gold standard is, Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics, told the news outlet, “(It) seems like nothing that’s happened since the Great Depression.” Gagnon, who has also worked for the Fed, added, “You have to go back to Herbert Hoover.”

Back in 2017, Politico also quoted libertarian Ron Paul, another gold standard supporter, as saying, “We’re in a better position than we’ve ever been in my lifetime as far as talking about serious changes to the monetary system and talking about gold.”

Would it be feasible for the US to return to the gold standard?

Trump’s first term as president passed without a return to the gold standard, and the consensus seems to be that it’s highly unlikely that this event will come to pass — even with him at the helm once again. Even many ardent supporters of the system recognize that going back to it could create trouble.

As per the Motley Fool’s Williams, economists largely agree that moving to a lower-key version of the gold standard in 1933 was “a big reason why the US emerged from the Great Depression,” and a return would be a mistake.

But if President Trump or a future president did decide to go through with it, what would it take? According to Kimberly Amadeo at the Balance, due to trade, money supply and the global economy, the rest of the world would need to go back to the gold standard as well. Why? Because otherwise the countries that use the US dollar could stand with their hands out asking for their dollars to be exchanged for gold — including debtors like China and Japan, to which the US owes a large chunk of its multitrillion-dollar national debt.

Is there enough gold to return to the gold standard?

The fact that the US doesn’t have enough gold in its reserves to pay back all its debt poses a huge roadblock to returning to the gold standard. The country would have to exponentially replenish its gold reserves in advance of any return to the gold standard.

‘The United States holds around 261.5 million troy ounces of gold, valued at approximately $489 billion. The total US money supply exceeds $20 trillion, necessitating about 272,430 metric tons of gold at current market prices,’ explained Ron Dewitt, Director of Business Development at the Gold Information Network, in a June 2024 LinkedIn post. ‘The supply remains insufficient, even including global gold stocks, which total around 212,582 metric tons.’

In addition, it’s understood that returning to the gold standard would require the price of gold to be set much higher than it is currently. What would the price of gold need to be worth if the US returned to the gold standard? Financial analyst and investment banker Jim Rickards has calculated the gold price would need to jump up to at least US$27,000 an ounce.

That means the US dollar would be severely devalued, causing inflation, and since global trade uses the US dollar as a reserve currency, it would grind to a halt. Conversely, returning to the gold standard at a low gold price would cause deflation.

What would silver be worth if the US returned to the gold standard? It’s not a guarantee that silver would follow in gold’s footsteps if a gold standard was re-established due to its many industrial and technological applications. While silver has a long history as a precious metal and played an important role as currency for much of human history, its value today is intrinsically linked to that demand as well.

What would happen if the US returned to the gold standard?

Returning to the gold standard would have a huge impact on all levels of the US economy and make it impossible for the Fed to offer fiscal stimulus. After all, if the US had to have enough gold reserves to exchange for dollars on an as-needed basis, the Fed’s ability to print paper currency would be incredibly limited.

Supporters believe that could be the perfect way to get the US out of debt, but it could also cause problems during times of economic crisis. It’s important to remember that because 70 percent of the US economy is based on consumer spending, if inflation rose due to the gold price rising, then a lot of consumers would cut spending. That would then affect the stock market as well, which could very well lead to a recession or worse without the ability of the government to soften that blow via money supply.

‘Transitioning to a gold standard during an economic crisis would severely limit monetary policy options and could lead to economic instability,’ Dewitt warned.

For that reason, a return to the gold standard would also expose the US economy to the yellow metal’s sometimes dramatic fluctuations — while some think that gold would offer greater price stability, it’s no secret that it’s been volatile in the past. Looking back past the metal’s recent stability, it dropped quite steeply from 2011 to 2016.

Moreover, speaking to Congress on this issue in 2019, Fed Chair Jerome Powell warned against a return to the gold standard.

“You’ve assigned us the job of two direct, real economy objectives: maximum employment, stable prices. If you assigned us (to) stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate, and we wouldn’t care,” Powell said. “There have been plenty of times in fairly recent history where the price of gold has sent a signal that would be quite negative for either of those goals.”

As can be seen, returning to the gold standard would be a complex ordeal with pros and cons. The likelihood of the US bringing back the gold standard is slim, but no doubt the question will continue to be up for debate under future presidents.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Democrats are growing increasingly concerned that they will narrowly lose the House of Representatives after Republican victories in the Senate and White House.

The balance of power in the House is expected to run razor-thin no matter who wins, but sources who spoke with Fox News Digital are worried that the Democrats’ path is narrowing.

‘We’re almost certainly going to lose the House by a narrow margin,’ a senior House Democratic aide told Fox News Digital. ‘We got our a–es kicked.’

The House aide found optimism, however, in Republicans’ comparatively decisive victories in the upper chamber and presidential race.

‘If you told me [President-elect Trump] won the popular vote, dominated the electoral college, and they could end up with 56 seats in the Senate, this House map is really not too bad,’ they said.

A person familiar with House Democratic campaigns told Fox News Digital, ‘If last night is any indication of how the House will flip, I don’t feel confident. The American people are clearly not buying what we’re selling.’

‘I think it comes down to the economy, honestly,’ the second source said. ‘People feel like they could have more in their bank account.’

As of early Wednesday afternoon, Republicans led Democrats by nearly two dozen projected race wins, according to The Associated Press.

The winning party must take 218 of 435 House races to control the chamber, and there are those on the Democratic side still holding out hope but acknowledging the margins would be thin.

‘I think Democrats are still hopeful…there’s a chance to get some flips to get a narrow majority,’ longtime Democratic strategist Joel Rubin told Fox News Digital. 

Rubin pointed to toss-up seats in California and New York that still have not been called, which are currently held by Republican incumbents, as well as an open seat in Maryland that Democrats are fighting to keep.

House Minority Leader Hakeem Jeffries of New York also remained hopeful on Wednesday afternoon.

‘As a result of the enduring strength of our battle-tested incumbents, critical open seat holds in Virginia and Michigan, victories in Alabama and Louisiana and flipping four Republican-held seats in New York this year, the House remains very much in play,’ Jeffries said in a statement.

‘The path to take back the majority now runs through too close to call pick-up opportunities in Arizona, Oregon and Iowa – along with several Democratic-leaning districts in Southern California and the Central Valley.’

Jeffries, who is likely to become House Speaker if Democrats win, vowed his caucus would ‘continue to govern with common sense and conviction.’

Democrats are poised to unseat two Republican incumbents – New York Reps. Marc Molinaro and Brandon Williams – so far in their quest to win the majority.

Meanwhile, Republicans are projected to take control of the open Michigan seat that was vacated by Democratic Rep. Elissa Slotkin. Reps. Matt Cartwright and Susan Wild, vulnerable Democrats in Pennsylvania, conceded their races to their respective Republican challengers.

On the presidential level, Democrats – including those in the House – have already started pointing fingers.

Rep. Ritchie Torres, a pragmatic Democrat from New York, blamed the ‘far left’ for Vice President Kamala Harris’ loss.

‘Donald Trump has no greater friend than the far left, which has managed to alienate historic numbers of Latinos, Blacks, Asians, and Jews from the Democratic Party with absurdities like ‘Defund the Police’ or ‘From the River to the Sea’ or ‘Latinx,’’ Torres wrote on X.

‘The working class is not buying the ivory-towered nonsense that the far left is selling.’


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KAOHSIUNG, Taiwan —Theofficial response from Xi Jinping’s communist China to President-elect Trump’s victory was formulaic.

‘Our policy towards the U.S. is consistent,’ foreign ministry spokesperson Mao Ning told reporters Wednesday afternoon. ‘We will continue to view and handle China-U.S. relations in accordance with the principles of mutual respect, peaceful co-existence and win-win cooperation.’ 

National Taiwan University Department of Philosophy professor Yuan Juzheng returned to Taiwan from a trip to China Monday, where, he noted, nearly everyone he met with wanted to talk about the U.S. election. He told Fox News Digital a Trump win is a ‘worst-case scenario’ for Beijing. China experts, as well as Chinese citizens online, believe the next four years under President-elect Trump will almost certainly worsen already strained ties.

During the campaign, Trump made it abundantly clear he would adopt a tariff-based approach to trade with China. Professor Yuan explained that China had ‘not been prepared psychologically’ when, around 2018, President Trump hit huge Chinese companies such as Huawei with tariffs.

But this time around, Yuan says, China knows how much such policies will hurt, and they will come at a time when China’s domestic economy is not doing well. 

‘Three key issues will continue to dominate the U.S.-China relationship. They are the three T’s — trade, technology and Taiwan,’ Zhiqun Zhu, a professor of political science and international relations at Bucknell University, told Fox News Digital a few hours before Trump’s stunning triumph became official. 

On Wednesday, Taiwan President William Lai wrote on X, ‘Sincere congratulations to President-elect @realDonaldTrump on your victory. I’m confident that the longstanding # Taiwan – #US partnership, built on shared values & interests, will continue to serve as a cornerstone for regional stability & lead to greater prosperity for us all.’ 

Taiwanese Vice President Bi-khim Hsiao, also via X, added, ‘I join President Lai in offering my congratulations to President Trump, VP-elect Vance, and the American people. Looking forward building a strong Taiwan-US partnership, for freedom, peace, and economic prosperity.’

The Taiwanese public has had mixed views about the U.S. election. Some here find Trump’s often brash and blunt personality unappealing. One recent poll showed over 50% of the Taiwanese preferred Harris to Trump. However, many Taiwanese have also said they viewed Trump as potentially ‘better for Taiwan,’ mostly due to an expectation that he will take a hard line on China. That expectation is shared on the other side of the Taiwan Strait. 

Ross Darrell Feingold, a Taipei-based lawyer and commentator on local and regional politics, is among a small group of Americans living in Taiwan who are active on TouTiao, a Chinese information platform owned by ByteDance, the parent company of TikTok. With over 150 million daily users, TouTiao could be likened to a hybrid of Facebook and X. 

On the Sunday before the U.S. election, Feingold posted a question on TouTiao that was finally allowed to be published after some rewording due to China’s strict internet controls. 

‘As a Chinese person, do you think Trump or Kamala Harris will be more harmful to China-US relations?’ he wrote.

More than 30,000 people viewed the question, and roughly 5,500 provided a variety of answers that included some direct support for Democratic nominee Harris, whom Chinese netizens have given the nickname ‘Ha Ha Sister,’ a reference to the vice president’s exuberant laughter. 

Feingold, however, noted the near unanimity in Chinese netizens’ comments that the U.S. is hostile toward China, and they don’t wish to see China rise to its rightful place as a global power. 

‘Based on the comments I received on TouTiao, the public in China seems to think the U.S. — led by a leader from either party — would seek to restrain China’s growth,’ Feingold told Fox News Digital. 

He added that it can be difficult to determine whether internet comments reflect genuine personal opinions or are merely the parroting of ideas from China’s state-run media. Overall, Feingold says, the Chinese public has begun to take American policies personally, interpreting them as being directed at ordinary Chinese people rather than critiques of the governing Chinese Communist Party.

Zhu, the Bucknell professor, laid it out starkly in comments to Fox News Digital, saying, ‘While over 80% of Americans surveyed view China negatively now, the positive Chinese views of America have also dropped. … What is different now than a few years ago is that many Chinese, including liberals in China, have become more critical of the United States … and believe the U.S. is not welcoming Chinese students, tourists and businesspeople.’ 

Zhu noted that some states such as Florida have cut virtually all cultural and educational exchanges with Beijing. 

Japan, which also has a tense relationship with China, offered its congratulations to Trump Wednesday. Barron’s quoted Japanese Prime Minister Shigeru Ishiba as saying he hoped the countries’ alliance would move ‘to new heights’ during Trump’s second term. 

In a post on X, South Korean President Yoon Suk Yeol both congratulated and praised Trump, writing, ‘Under your strong leadership, the future of the ROK [Republic of Korea]-U.S. alliance and America will shine brighter. Look forward to working closely with you.’ 

And despite the views of some that North Korean dictator Kim Jong Un would welcome the return of Trump to the White House, there was no immediate official comment from the so-called ‘Hermit Kingdom.’ But North Korea ‘fired multiple short-range ballistic missiles toward its eastern sea’ hours before the U.S. election on Tuesday. 


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