Last week I sounded off about Trump’s choices for Treasury and another economic position. I hedged my caution on Trump’s unique relationship with the big banks. I said:
Both Trump and Hillary were and are in DEEP with the banksters. Their relationships are, however, a little different.
… Trump is (or was) a borrower, a customer to the banks. …
Many who analyze these choices seriously may come to those same conclusions. They may say that Hillary, had she been elected, would have worked for her masters, whereas Trump will master them. He may view them as enemies and want them closer than his friends, where he can keep an eye on them. Knowing his unusual associations, this may be true. If so, it could be one of the greatest political power plays in American history. If not, then it could be one of the biggest blunders.
I’m honestly hoping for the former while fearing the latter. …
The esteemed Paul Craig Roberts optimistically echoed the sentiment in a broader article on the overall scheme of the appointments. His is expert commentary about insiders as only a former insider can understand it.
Does Trump’s choice of Steve Mnuchin as Treasury Secretary mean that Goldman Sachs will again be in charge of US economic policy? Possibly, but we do not know. We will have to wait and see. Mnuchin left Goldman Sachs 14 years ago. He has been making movies in Hollywood and started his own investment firm. Many people have worked for Goldman Sachs and the New York Banks who have become devastating critics of the banks. Read Nomi Prins’ books and visit Pam Martens website, Wall Street on Parade (http://wallstreetonparade.com ). My sometimes coauthor Dave Kranzler is a former Wall Streeter.
Commentators are jumping to conclusions based on appointees past associations. Mnuchin was an early Trump supporter and chairman of Trump’s finance campaign. He has Wall Street and investment experience. He should be an easy confirmation. For a president-elect under attack, this is important.
Will Mnuchin support Trump’s goal of bringing middle-class jobs back to America? Is Trump himself sincere? We do not know.
What we do know is that Trump attacked the fake “free trade” agreements that have stripped America of middle-class jobs just as did Pat Buchanan and Ross Perot. We know that the Clintons made their fortune as agents of the One Percent, the only ones who have profited from the offshoring of American jobs. Trump’s fortune is not based on jobs offshoring.
Not every billionaire is an oligarch. Trump’s relation to the financial sector is one as a debtor. No doubt Trump and the banks have had unsatisfactory relationships. And Trump says he is a person who enjoys revenge.
There is sound reason Roberts is regarded as the best commentator in America. Revenge against the financial sector. Now that would be making America great again.
PS: It has come to my attention that some few (likely very small and timid) folks find me “a little scary”. Me. The man of cigars and Christmas ties. A “little”?? I’ve got to step it up a notch, huh?