Author

admin

Browsing

Days after the release of $ TRUMP, US President Donald Trump’s meme cryptocurrency, his wife First Lady Melania Trump has launched $MELANIA, her own digital token.

The back-to-back launches highlight growing political engagement with the cryptocurrency space, further fueled by Donald Trump’s evolving stance on digital assets.

Melania Trump announced her token, $MELANIA, via social media on Sunday (January 19), stating, “The Official Melania Meme is live! You can buy $MELANIA now.”

$MELANIA is a ‘fungible crypto asset’ created and tracked on the Solana blockchain. As mentioned, it was announced shortly after Donald Trump introduced $TRUMP on Truth Social.

Both coins have garnered significant attention in the cryptocurrency market, with Reuters reporting that $TRUMP achieved a market capitalization of over US$10 billion within days of its launch. Trading volume for the coin reached nearly US$40 billion in 24 hours, showcasing the speculative interest surrounding the asset.

A meme coin is a cryptocurrency derived from internet trends and memes, typically lacking practical utility and prone to significant price volatility. For example, a coin launched last month by Haliey Welch, known as the “Hawk Tuah girl” after her viral video discussing oral sex, experienced a sharp decline in value, dropping 95 percent from a US$500 million market capitalization to US$25 million shortly after its debut.

Traders often liken meme coins to ‘pure gambling’ or ‘purchasing a lottery ticket.’

Trump’s shifting stance on cryptocurrencies

Donald Trump’s entry into the cryptocurrency world marks a dramatic shift from his previous skepticism.

Once dismissing cryptocurrencies as a “scam,” the president has since adopted a more favorable stance.

In fact, his latest presidential campaign became the first in US history to accept cryptocurrency donations, facilitated through Coinbase Commerce. This has helped push cryptocurrencies into the spotlight.

The president has also proposed a US Bitcoin reserve, aiming to position the nation as a leader in digital finance.

Global conversations on Bitcoin reserves

The launch of the Trump coins coincides with a growing global conversation about Bitcoin as a strategic asset.

Governments and central banks, including those in Switzerland, Germany and Brazil, are exploring Bitcoin’s potential role in national reserves. Under Trump’s leadership, the US has joined the debate — ahead of his return to office, his administration has advocated for Bitcoin to be made a reserve asset.

Legislative actions and plans have already materialized to support cryptocurrency reserves for national adoption, with some US states joining the fray as well.

Meanwhile, in Switzerland, the Swiss National Bank is evaluating the inclusion of Bitcoin in its reserves alongside gold, with discussions of a public referendum to decide the matter.

In Germany, former Finance Minister Christian Lindner has proposed that the European Central Bank and Bundesbank reduce reliance on the US dollar by incorporating Bitcoin.

For its part, Brazil has introduced the Sovereign Strategic Bitcoin Reserve (RESBit), aiming to allocate a portion of its reserves to Bitcoin. Meanwhile, Russia has also embraced digital currencies as a means to bypass western sanctions, with companies using domestically mined Bitcoin for international trade.

Experts warn of meme coin volatility

While the launches of $TRUMP and $MELANIA have generated excitement, concerns remain about the speculative nature of meme coins. Analysts warn that such assets are prone to volatility and large price fluctuations.

In addition, the blending of cryptocurrencies into the political arena has raised questions about the implications for governance and regulation. Critics argue that these developments blur the lines between politics, profit and influence, calling for greater oversight.

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

This post appeared first on investingnews.com

Andrew O’Donnell, founder of the Market Mindset, discussed the sectors he’s bullish on in 2025, mentioning gold and silver, as well as uranium. He also shared his thoughts on what it will take to bring generalist investors back into the mining sector.

For O’Donnell, cryptocurrency enthusiasm makes it clear that people are willing to put money into high-risk, high-reward sectors — the question is how the resource industry can attract more of this capital.

For the time being, O’Donnell believes it’s important for investors to be selective.

‘I think this year could be a very pivotal year — I’m very optimistic that it will be,’ he said.

‘I don’t think we’ll see the ‘all ships will sail’ kind of idea that we’ve seen in the past from juniors. But there are so many, and so many qualified projects that should be doing so much better than they are, and that should give people some hope.’

Watch the interview above for more of his thoughts on the topics mentioned above.

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

This post appeared first on investingnews.com

President Donald Trump arrived at the Commander-in-Chief Ball shortly after 10 PM ET on Monday, and shared his First Dance with first lady Melania Trump – his first of three ball appearances that night.

Shortly after the band played ‘Americans, We,’ Trump was introduced by an emcee at the Walter Washington Convention Center in Mount Vernon Square, D.C.

The event is geared toward service members. 

For his first dance, Trump and first lady Melania Trump danced to a contemporary rendition of Julia Ward Howe’s 1861 Civil War anthem ‘Battle Hymn of the Republic.’

The song was the clarion call of the Union Army of the Potomac – and the opposite number to the Confederate Army’s ‘Dixie.’

 President Trump signs more executive actions at White House

In brief remarks, Trump told the crowd the election was a ‘tremendous win’ and that a big reason he won was ‘my relationship with you (the American people).’

At the military themed ball, he praised his Pentagon chief nominee Pete Hegseth.

Trump also spoke at two other balls later in the night, another located at the Washington Convention Center and the final one located at Union Station.

The Liberty Ball was sandwiched between the Commander-in-Chief Ball and the Starlight Ball.

While the Commander-in-Chief ball was geared towards service members, the Liberty Ball is set to include a wide-range of Trump supporters. It is being headlined by Trump’s address, but, also similar to the Commander-in-Chief Ball, will include some musical performances as well. Those performances will include country singer Jason Aldean, rapper Nelly, and the Village People.

At the Liberty Ball – also held at the convention center – Trump shared another first dance with Mrs. Trump.

Several members of the Trump family then took the stage, along with Vice President JD Vance and Second Lady Usha Vance. They danced to ‘Unchained Melody’ by the Righteous Brothers.

Trump told the Liberty Ball crowd it had been ‘a hell of a day.’

Hulk Hogan: Everybody is

The balls follow a jam-packed day of events that included President Trump’s formal swearing-in ceremony, an inaugural parade at Capital One Arena, an Oval Office signing ceremony, and much more.

During the day’s events Trump signed a slew of executive orders related to border security, diversity, equity and inclusion, Jan. 6, energy and the climate, and the federal workforce. 

The number of orders he signed outnumbered how many Trump signed during his first day in office in 2017, as well as the number that President Biden signed during his first day as president.

The Liberty Ball is set to include a wide-range of Trump supporters. It is being headlined by Trump’s address, but, also similar to the Commander-in-Chief Ball, will include some musical performances as well. 


This post appeared first on FOX NEWS

President Donald Trump pulled the security clearances of more than 50 national security officials who said Hunter Biden’s laptop had ‘all the classic earmarks of a Russian information operation.’

A total of 51 former national security officials released a public letter in 2020 claiming that even though the laptop did not have ‘any evidence of Russian involvement,’ it looked like a ‘Russian information operation.’

The letter came after the New York Post reported they had emails showing Hunter Biden coordinated for Joe Biden to meet with a top executive at Ukrainian energy company Burisma months before pressuring Ukrainian officials to oust a prosecutor investigating the company. 

Included on the list are former director of National Intelligence James Clapper Jr., former directors of the Central Intelligence Agency Michael Hayden, John Brennan, former Secretary of Defense Leon Panetta, and former National Security Advisor John Bolton. 

Fox News Digital previously reported that federal investigators with the Department of Justice were aware that Hunter Biden’s laptop was not manipulated and contained ‘reliable evidence.’ 

Republican lawmakers including Sen. Lindsey Graham of South Carolina have previously suggested withdrawing the security clearances of these officials. 

The order was one of more than 200 executive orders Trump approved on Inauguration Day, joining directives like withdrawing the U.S. from the Paris Climate Agreement that the U.S. initially entered under former President Barack Obama’s administration in 2015. 

Trump previously withdrew the U.S. from the agreement during his first term in 2020. 

Other executive orders Trump signed on day one include rescinding nearly 80 executive orders and memoranda issued under Biden, issuing a regulatory and hiring freeze upon the federal government, preventing ‘government censorship’ of free speech, and directing every department and agency to address the cost of living crisis. 

David Spector contributed to this report. 


This post appeared first on FOX NEWS

Celebrities have taken to social media to celebrate Donald Trump being sworn in as the 47th President of the United States on Monday.

Actress Candace Cameron Bure shared photos of President Trump and first lady Melania Trump on Jan. 20 on Instagram.

‘Happy Inauguration Day!!! God Bless America,’ she captioned several photos of the president and first lady, Vice President Vance and his wife, Usha, and a video of Carrie Underwood’s performance.

Bure also took to her Instagram story to honor President Trump, Vice President Vance and share that it was ‘an exciting day.’

Actor Dean Cain shared a photo of himself in Washington, D.C., on X, formerly known as Twitter, with the caption, ‘What a day!!’

Jason Aldean’s wife, Brittany Aldean, took to her Instagram story on Monday morning to share an old photo of Trump with ‘Today’ written alongside it. Jason is gearing up to perform at the Liberty Ball on Monday night.

Brittany shared photos with her husband ahead of his big performance on Monday night.

‘INAUGURATION NIGHT,’ she began her caption. ‘What a ride it’s been! Today has made all the scrutiny worth it. Wouldn’t change a thing.’

Actor James Woods took to X on Monday and wrote, ‘I am in tears. God bless America and President Trump.’ 

Not all of Hollywood was celebrating Trump’s return to the Oval Office. Jamie Lee Curtis took to Instagram early Monday morning to share a photo with the message, ‘Chances I won’t use the word f–k in a sentence today,’ with an embroidered pie chart. The choices were ‘none’ and ‘also none but in yellow.’

The caption read, ‘Just in case you need this today. Let it out and then let’s get to work. There’s plenty to do. xo’

She also shared a photo on her Instagram story with a message about Inauguration Day by Loryn Brantz.

‘In a time of hate, love is an act of resistance. In a time of fear, faith is an act of resistance. In a time of misinformation, education is an act of resistance. In a time of poor leadership, community is an act of resistance. In a time like this, joy is an act of resistance. Resist, resist, resist,’ the message read.

Former ‘Jeopardy!’ host Mayim Bialik took to Instagram on Monday to share her thoughts on Trump’s inauguration.

‘Yes I watched the Inauguration. There’s a lot I want to say but am not saying. For now, what I do

Early Monday morning, Underwood performed ‘America the Beautiful’ at the 60th presidential inauguration ceremony, which was held this year inside the Rotunda of the U.S. Capitol.

The country music star was forced to improvise after no musical cue would start.

Underwood, positioned in front of former President Biden, quickly ascertained that the accompanying instrumental track was not working, leaving her to improvise.

‘If you know the words, help me out here,’ she prefaced before singing a cappella. After her performance, she clapped for those before her who’d sung along before turning around and shaking Biden’s hand.

She then shared a moment with Trump and JD Vance before leaving the room.

Last week, Underwood, who has kept herself away from the political scene, confirmed she would perform at Trump’s inauguration.

‘I love our country and am honored to have been asked to sing at the inauguration and to be a small part of this historic event,’ the country superstar said in a statement.

‘I am humbled to answer the call at a time when we must all come together in the spirit of unity and looking to the future.’

Fox News Digital’s Caroline Thayer contributed to this report.


This post appeared first on FOX NEWS

President Donald Trump pardoned nearly all Jan. 6 defendants on Monday night, after promising at his inaugural parade to sign an executive order on the matter. 

Sitting at the Resolute Desk in the Oval Office, Trump signed off on releasing more than 1,500 charged with crimes stemming from the Jan. 6, 2021, attack at the U.S. Capitol. The order requires the Federal Bureau of Prisons to act immediately on receipt of the pardons.

‘Tonight I’m going to be signing on the J6 hostages, pardons to get them out,’ Trump said at the parade at Capital One Arena in Washington. ‘I’m going to the Oval Office and we’ll be signing pardons for a lot of people.’

Those pardoned include Enrique Tarrio, the former Proud Boys chairman, who faced a sentence of 22 years in prison for seditious conspiracy. Tarrio’s attorney told the Associated Press he expects Tarrio to face release Monday evening. 

Trump previously promised that he would be ‘acting very quickly’ on his first day in office to pardon to the so-called ‘hostages.’  

Former Speaker of the House Nancy Pelosi, D-Calif., called Trump’s pardon ‘shameful,’ and said to remember the ‘courage’ of law enforcement ‘heroes’ who ‘ensured that democracy survived.’ 

‘The President’s actions are an outrageous insult to our justice system and the heroes who suffered physical scars and emotional trauma as they protected the Capitol, the Congress and the Constitution,’ Pelosi, who didn’t attend Trump’s inauguration Monday, said in a statement posted to X, formerly known as Twitter. 

‘It is shameful that the President has decided to make one of his top priorities the abandonment and betrayal of police officers who put their lives on the line to stop an attempt to subvert the peaceful transfer of power,’ Pelosi said. 

The pardon was one of more than 200 executive orders Trump was expected to sign on Inauguration Day. Other directives he signed on Monday include withdrawing the U.S. from the Paris climate agreement that the U.S. initially entered under former President Barack Obama’s administration in 2015. 

Trump previously withdrew the U.S. from the agreement during his first term in 2020. 

On Monday morning, then-President Joe Biden issued a series of pardons just hours before Trump’s swearing in at the U.S. Capitol. Those pardoned by Biden include former chair of the Joint Chiefs of Staff, retired Gen. Mark Milley, whom Trump has accused of committing treason. Others Biden pardoned were those involved in the Jan. 6 Select Committee investigation that conducted a probe into the attack. 

‘The issuance of these pardons should not be mistaken as an acknowledgment that any individual engaged in any wrongdoing, nor should acceptance be misconstrued as an admission of guilt for any offense,’ Biden said in a statement. ‘Our nation owes these public servants a debt of gratitude for their tireless commitment to our country.’

Fox News’ Anders Hagstrom and Brooke Singman contributed to this report. 


This post appeared first on FOX NEWS

President Trump’s youngest son Barron, 18, stepped into the spotlight at his father’s inauguration on Monday.  

Standing at a towering 6’9′, many attendees and viewers remarked about how mature the younger Trump has become since his father first took office back in January 2017.

At 10 years old, Barron Trump was often the victim of cruel jokes and rumors from his father’s critics. His mother, Melania Trump, attempted to shield him from unwanted scrutiny, though sometimes to no avail.

On Monday, the first son commanded respect from onlookers as he stood by his father’s side during the inaugural ceremonies. Here’s a look at how Barron Trump has grown up since 2017.

2017

At 10 years old, Barron Trump became the first son to reside in the White House since John F. Kennedy, Jr. in 1961.

Barron, who turned 11 in March of 2017, also lived at Trump Tower in New York at the same time, attending Columbia Grammar and Preparatory School on the Upper West Side.

Beginning in 2016, rumors swirled about Barron Trump possibly having autism, which comedian Rosie O’Donnell amplified. In 2024, Melania Trump said that the rumors deeply impacted her son, who was bullied at school.

‘I was appalled by such cruelty,’ Melania Trump wrote in her memoir. ‘It was clear to me that she was not interested in raising awareness about autism. I felt that she was attacking my son because she didn’t like my husband.’

‘There is nothing shameful about autism (though O’Donnell’s tweet implied that there was), but Barron is not autistic,’ she added. ‘Barron’s experience of being bullied both online and in real life following the incident is a clear indication of the irreparable damage caused.’

2018

Barron turned 12 years old in March 2018 and continued to be a common target for Trump’s enemies.

Actor Peter Fonda called for officials to ‘rip Barron Trump from his mother’s arms and put him in a cage with pedophiles.’ He later apologized for the remarks.

‘I tweeted something highly inappropriate and vulgar about the president and his family in response to the devastating images I was seeing on television,’ Fonda said in the statement shortly after. ‘Like many Americans, I am very impassioned and distraught over the situation with children separated from their families at the border, but I went way too far.’

2019

Barron was 13 years old when his family permanently relocated to Mar-a-Lago in 2019. That year, Trump said he would have a ‘hard time’ allowing his son to play football.

‘I just don’t like the reports that I see coming out having to do with football — I mean, it’s a dangerous sport and I think it’s really tough,’ Trump said at the time. ‘I thought the equipment would get better, and it has. The helmets have gotten far better, but it hasn’t solved the problem.’

During a 2019 House Judiciary Committee impeachment hearing, Stanford law professor Pamela Karlan remarked that then-President Trump could ‘name his son Barron, he can’t make him a baron.’

Melania Trump was upset that her young son was mentioned at the hearing.

‘A minor child deserves privacy and should be kept out of politics,’ the first lady tweeted at the time. ‘Pamela Karlan, you should be ashamed of your very angry and obviously biased public pandering, and using a child to do it.’

2020

As Trump was fighting for his re-election bid in 2020 and the COVID-19 pandemic rocked the United States, Barron Trump continued to attend school and stayed out of the public spotlight. In 2020, ‘Jeopardy’ host Ken Jennings apologized for a joke he told about Barron in 2017. 

‘Barron saw a very long necktie and a heap of expired deli meat in a dumpster,’ Jennings tweeted at the time. ‘He thought it was his dad & his little heart is breaking.’

‘Hey, I just wanted to own up to the fact that over the years on Twitter, I’ve definitely tweeted some unartful [sic] and insensitive things,’ Jennings wrote in 2020. ‘Sometimes they worked as jokes in my head and I was dismayed to see how they read on screen.’

2021

Barron Trump was 14 years old when his father left office in January. He lived with his mother at Mar-a-Lago full-time and stayed out of the spotlight.

In July 2021, he was seen leaving Trump Tower with Melania Trump.

2022

Barron Trump was 16 when FBI agents raided his father’s Florida estate. He kept a low profile during this year, but he was seen in public with both of his parents at the funeral of Ivana Trump, Trump’s first wife, in July 2022.

In November 2022, his father announced his bid for the presidency.

2023

As President Trump’s campaign kicked up again in 2023, Barron was still absent from the public spotlight. In August of that year, his father’s mugshot was released.

2024

Barron Trump matriculated at New York University (NYU) in the fall of 2024. He graduated from Oxbridge Academy in West Palm Beach in May, and was seen attending classes at NYU’S Stern School of Business.

In November, he also voted for the first time, casting a ballot for his father in Florida.

2025

Barron looked sharp as he attended his father’s inauguration on Jan. 20 Later during the day, he waved to the crowd after his father mentioned his role in the 2024 campaign.

‘I have a very tall son named Barron. Has anyone ever heard of him?’ Trump said to cheers, as the first son waved at attendees.

‘He knew the youth vote. You know, we won the youth vote by 36 points… He said, ‘Dad, you got to go out, do Joe Rogan, do all these guys,’’ Trump recalled. ‘We did, we did. And Joe Rogan was great.’

The 18-year-old also wowed attendees when he shook hands with President Biden and then-Vice President Kamala Harris, with some social media users speculating that he may pursue a political career in the future.

‘Barron Trump just shook hands with Joe Biden and Kamala Harris,’ one X user wrote. ‘This kid will be our President one day. Bet on it.’

‘Barron Trump is a natural,’ another said of Barron. ‘Totally owned the moment.’

Fox News Digital’s Brooke Curto and Kyle Schmidbauer contributed to this report.


This post appeared first on FOX NEWS

Florida Sen. Marco Rubio was confirmed unanimously by the Senate to be the next secretary of state, making him the first of President Trump’s Cabinet picks to receive congressional approval.

Rubio, a senator since 2011, was confirmed during a floor vote by the full Senate Monday night, several hours after Trump took his oath of office earlier in the day. The full Senate floor vote occurred following a separate vote by the Senate Foreign Relations Committee, which also voted unanimously in favor of Rubio’s nomination Monday.  

Rubio enters his role as secretary of state with a strong foreign policy background as a longtime member of the Senate’s Foreign Relations and Intelligence Committees. He is also a first-generation Cuban American.

 

His road to confirmation has been less controversial than many of Trump’s other Cabinet picks. At Rubio’s first confirmation hearing last week in front of the Foreign Relations Committee, the committee’s top-ranking Democrat, Sen. Jeanne Shaheen of New Hampshire, said she thought Rubio possessed ‘the skills’ and is ‘well-qualified’ to serve as the next secretary of state. She echoed this sentiment Monday evening as well before the full Senate vote.

‘I’ve had a good working relationship with Sen. Rubio for many years, and I was very impressed during his hearing by his grasp of policy,’ Shaheen said Monday evening. ‘While we may not always agree, I believe he has the skills, knowledge and qualifications to be secretary of state.’

 

Rubio expressed during his initial confirmation hearing last week that under Trump the State Department’s ‘top priority’ will be to put America first. 

‘This will not be easy,’ Rubio said. ‘And it will be impossible without a strong and a confident America that engages in the world, putting our core national interests, once again, above all else.’

Rubio will face some major challenges heading into his new role, notably the ongoing Russian invasion of Ukraine and the war between Israel and Hamas in Gaza.

Rubio described the fighting between Ukraine and Russia as a ‘stalemate’ that ‘has to end’ during his confirmation hearing last week, adding that under Trump’s proposed peace deal both countries will have to make ‘concessions.’ Meanwhile, despite Trump’s past criticisms of the North Atlantic Treaty Organization (NATO), Rubio called the alliance ‘very important’ and insisted that Trump was also a NATO supporter.

On Gaza, Rubio supported Israel’s actions to defend itself against Hamas but stopped short of indicating one way or the other if he thought Israel’s annexation of parts of the West Bank was something he supported. 

‘The idea would be that there not be conflict and the people could live side-by-side with one another without being in conflict and with the ability to pursue prosperity,’ Rubio said. ‘Sadly and unfortunately the conditions for that to exist have not been in place for a substantial period of time.’

Rubio also repeatedly singled out China during his remarks in front of the Senate Foreign Relations Committee last week. ‘We welcomed the Chinese Communist Party into this global order. And they took advantage of all its benefits. But they ignored all its obligations and responsibilities,’ Rubio posited at his hearing. ‘Instead, they have lied, cheated, hacked and stolen their way to global superpower status, at our expense.’

While Rubio did not face significant opposition to his confirmation, some Trump-aligned Republicans have expressed disdain over Rubio’s willingness to certify the results of the 2020 election that Trump alleged was ‘stolen’ from him. Sen. Rand Paul, R-Ky., who has been an outspoken supporter of less U.S. intervention, also questioned Rubio’s hawkish stance on American intervention amid his confirmation to be secretary of state.


This post appeared first on FOX NEWS

President Donald Trump, while signing a flurry of executive orders from the Resolute Desk in the Oval Office of the White House as the now 47th President of the United States, discovered a letter from his predecessor inside one of the desk’s drawers with the help of a Fox News reporter.

Trump was in the process of signing one of many executive orders on Monday after returning to the White House when Fox News’ Peter Doocy asked if President Biden left him a letter.

‘He may have. Don’t they leave it in the desk? I don’t know,’ Trump told Doocy before discovering a white envelope with the number ’47’ written on it. ‘Thank you, Peter. It could have been years before we found this thing.’

Trump then teased everyone in the room by suggesting they all read the letter together, before pulling back the reigns.

‘Well, maybe I’ll read it first and then make that determination,’ the president said, once again thanking the White House correspondent.

‘Happy to help with the passing of the torch,’ Doocy said.

Trump was then asked if he left one for Biden, and he said he left one in the desk, just like Biden.

In leaving the letter for Trump, Biden kept with the now 36-year tradition of the departing commander in chief, writing a note to the incoming president.

As he left the White House in 1989 after two terms in office, President Ronald Reagan started the tradition – leaving a note for his successor, George H. W. Bush, who also happened to be his vice president.

Four years later, despite losing to then-Gov. Bill Clinton of Arkansas, outgoing President Bush left Clinton a note in the Oval Office. The tradition has carried on to this day.


This post appeared first on FOX NEWS

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 is back in the White House, some are again wondering if he will return the country to the gold standard. Speaking on his War Room podcast back in December 2023, Steve Bannon, Trump’s former chief strategist, said he believes the president 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 Fed 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 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 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 Fed is the central bank of the US, and as of January 2025 its gold reserves came to 8,133.46 metric tons.

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 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 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