Trump Presidency Is Over - Bannon Is Right

GoldCore's picture

Trump Presidency Is Over - Bannon Is Right

“‘The Donald’ has been White House-broken,” writes Bill Bonner in his must read daily missive on Bonner and Partners

“‘The Donald’ has been White House-broken,” was what we were trying to say, translating the phrase into something that may make sense to a French listener.

But it was too clever and complicated.

“Well, let’s just say the president has been brought into line,” we simplified.

Social Season

This is the social season in the French countryside.

Weddings, cocktails, receptions – people use the month of August to reconnect with friends before returning to work, school, and retirement in the fall.

Yesterday, we drove about a half hour over country lanes to a gracious 18th-century farmhouse. There, about 100 people had gathered on the lawn.

“You are American?” we were asked several times. “What do you think of Trump?”

We dodged as best we could. Inevitably, we were forced to explain that, yes, he is a disgrace… but, no, we would not prefer Ms. Clinton… and, no, we do not like [French president] Mr. Macron, either:

“None of them has the strength or independence you would need to buck the trend.”

“What trend is that…?”

“Oh, it’s a long story… and it is such a beautiful evening…”

The guests were a wide assortment of local farmers and Paris-based hedge fund managers. The former complain about the weather. The latter complain about the markets. Both complain about the government.

But here at the Diary… we don’t complain. We just want to know when to pack an umbrella.

Payoffs and Pimping

Yesterday, we looked at how Washington insiders have brought President Trump to heel.

He said so himself: “Decisions are much different when you sit behind the desk in the Oval Office.”

Many people believe the White House elevates its occupants so they become better people and make better decisions.

Candidate Trump may be a scoundrel or a scalawag, lusting for fame and fortune, when he announces his candidacy, they say. But when he enters the White House, the slime, incompetence, and corruption are washed down the drain. The man is born again… as POTUS.

If this were true, the Pennsylvania Avenue sewer would clog up after each election. Instead, it runs clear… because the wheeling and dealing… the payoffs and pimping… are still going on!

Alas, the White House elevator goes in both directions.

This week, President Trump hit the “down” button. Against his own “instincts”… reneging on his promises to the people who voted for him… he agreed to go along with the generals in their plan to kill more people… and spend more money… so as to make their crony friends richer and advance their own careers.

That is how things work in the “swamp.”

Today and tomorrow, we connect the dots back to the financial world.

End of an Era

Win-win deals increase prosperity. Win-lose deals reduce it.

The swamp is where the win-lose deals breed. Since the 1970s, it has grown to cover half the U.S. economy.

There, wasteful spending, stifling regulations, phony money, misleading financial signals, zombies – corporate and individual – and all the many excesses and absurdities we watch daily here at the Diary are warping honest price signals, destroying real output, and transferring real Main Street wealth to the swamp’s insiders.

Donald J. Trump promised to pull the plug. But he couldn’t even if he wanted to. And now his decisions are Oval Office decisions… that is to say, those that suit the Deep State.

He cannot drain the swamp; he is now a part of it.

There will be no cutback in domestic spending (no genuine or important reform of O’care, for example)… and no cutback in the empire’s wars abroad.

That still leaves the possibility of tax reform. But even that is extremely unlikely. The last major tax reform program was 35 years ago. The president has neither the political skills nor the ideological commitment needed to pull off another one.

No “skinny budget”… no spending cuts… no tax reform… no relief from the swamp.

And that, friends (and we don’t have to spell it out), is why Breitbart’s Steve Bannon is right: The Trump presidency is over.

Where to next?

Tune in tomorrow…

Since founding Agora Inc. in 1979, Bill Bonner has found success in numerous industries. His unique writing style, philanthropic undertakings and preservationist activities have been recognized by some of America's most respected authorities. With his friend and colleague Addison Wiggin, he co-founded The Daily Reckoning in 1999, and together they co-wrote the New York Times best-selling books Financial Reckoning Day and Empire of Debt. His other works include Mobs, Messiahs and Markets (with Lila Rajiva), Dice Have No Memory, and most recently, Hormegeddon: How Too Much of a Good Thing Leads to Disaster. His most recent project is The Bill Bonner Letter.

 

Gold Prices This Week (LBMA AM)

25 Aug: USD 1,287.05, GBP 1,003.90 & EUR 1,090.90 per ounce
24 Aug: USD 1,285.90, GBP 1,003.26 & EUR 1,090.44 per ounce
23 Aug: USD 1,286.45, GBP 1,004.33 & EUR 1,091.68 per ounce
22 Aug: USD 1,285.10, GBP 1,000.71 & EUR 1,091.95 per ounce
21 Aug: USD 1,287.60, GBP 999.82 & EUR 1,096.52 per ounce

Silver Prices This Week (LBMA AM)

25 Aug: USD 17.02, GBP 13.26 & EUR 14.40 per ounce
24 Aug: USD 16.93, GBP 13.20 & EUR 14.36 per ounce
23 Aug: USD 17.06, GBP 13.32 & EUR 14.48 per ounce
22 Aug: USD 17.02, GBP 13.27 & EUR 14.48 per ounce
21 Aug: USD 17.02, GBP 13.20 & EUR 14.48 per ounce


Market Updates This Week

- The Truth About Bundesbank Repatriation of Gold From U.S.
- Mnuchin: I Assume Fort Knox Gold Is Still There
- Buffett Sees Market Crash Coming? His Cash Speaks Louder Than Words
- Gold, Silver Consolidate On Last Weeks Gains, Palladium Surges 36% YTD To 16 Year High
- Must See Charts – Gold Hedges USD Devaluation, Rise in Oil, Food and Cost of Living Since Nixon Ended Gold Standard
- World’s Largest Hedge Fund Bridgewater Buys $68 Million of Gold ETF In Q2

 

Important Guides

For your perusal, below are our most popular guides in 2017:

Essential Guide To Storing Gold In Switzerland

Essential Guide To Storing Gold In Singapore

Essential Guide to Tax Free Gold Sovereigns (UK)

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JOE BUDTZ's picture

This is painfully clear.

He has been stopped dead in his tracks, and he has actually reversed some of the worthy purrsuits we expected of him, as a new relationship with Russia.

He looks weak and, the truth is, cowardly, something I would not have expected months ago.

He really has no future.

The Bernyites and others wanting peace would never support him again.

And his real base - the belly-over-the-belt boys - is a permanent minority.

Catahoula's picture

Weak minds and ignorance always succumb to propaganda. Choc full in here. Lolololol

Catahoula's picture

Tale told by an idiot with head up ass

QIG's picture

If today's French had anything to say worth listening to, we would not have had to rescue them from germans.

SPQR 70AD's picture

do you mean like they rescued us from the british in the revolutionary war?

Kina's picture

Listen Trump - you fucking idiot.

Your own side is doing their best to destroy you and 'your' agenda, and get you out of there at 2020, and make you 100% a joke before then.

Your own chosen Admin and your family are doing their best to destory you.

IF you want family in the Whitehouse then toss out Kushner, toss out Ivanka. And bring in Don jr

Or you too much of a coward to front your son in law??

  • Kick all these people in the nuts, get out of their control and fuck over the GOP.

 

I wonder if Trump even understands, at the end of his Presidency in 2020 they will have made him look like a joke, and he will go down in American history as a stupid experiment and waste of time.  

QIG's picture

His biggest problem is the shear weight of cowards, traitors, yes men, and dumb asses around him,...leftovers.

 

It's like eating an elephant, you have to do it one bite at a time. YOU have to decide if you like him and want him to succeed, or if you prefer the pimps, whores, and theives, and help them succeed. No middle gound this time. The game is coming to an end.

He-He That Tickles's picture

Will this effect my 401k?

Aristofani's picture

Never was. Just a manufactured fiction.

Reality tv shows never seem to end these days.

Goldennutz's picture

Bill Bonner and his Butt Buddy John Mauldin= Two elitist Pieces of Chit!

messystateofaffairs's picture

How can the Trump Presidency be over when it never began? I sometimes wonder if Trump is controlled opposition or a knee jerk swamp herdable moron. I tend towards the latter but I'm not sure. If he is controlled opposition they are doing a brilliant job.

DemandSider's picture

If you weren't disillusioned by Trump even before the election, you didn't know enough about him. NOTHING the guy has said or done since I voted for him surprises me, absoultely nothing. Face it, the most critical factor to Trump's win was Killary, and if presented with the same 2 candidates, I'd vote for him, again.

east of eden's picture

WHERE IS THE FUCKING 'MILITIA'?

ISN'T THAT THE EXCUSE YOU ALL HAD FOR HOARDING YOU'RE GUNS?

YOU ARE NOTHING BUT FUCKING COWARDS.

SPQR 70AD's picture

you are right. it will go down in history the most heavily armed people in world history went down without firing a shot. but they did buy up all the 22 RF

_SILENCER's picture

I guess we have to ask:

Is Trump balls-out enough to have the right people arrested?

Is Trump balls-out enough to have the right people whacked?

east of eden's picture

WHAT is the point of all this shit. Of course the 'Trump Presidency' is over.

America is OVER.

And writing about it six ways from Sunday won't change that.

You FAILED.

But not before you murdered 500 Million souls.

Xena fobe's picture

Damn, looks like we missed one. 

Shpedly's picture

America is far from "over". Not going to happen.

libertyanyday's picture

that train left the station in 1992.............Now we have secession , civil war or an installed dictator.............take your pick.

messystateofaffairs's picture

Take a look around you. Positively insousiant is what the typical American is, then it goes downhill from there. What you see on ZH is not a typical American. America is toast.

Xena fobe's picture

Not so much insousiant as indifferent and naive.  But 40% of our population is not American.  They have absolutely no interest in US affairs except as it concerns hand outs. 

east of eden's picture

ANd you think your fellow 'americans' will fix things? HAHAHAHAHAHAHHA

Even if every one of you crawled on your knees to the highest chruch on the hill, it still would not be enough.

You are going DOWN. FOREVER.

Xena fobe's picture

More likely we will end up using nukes against you. If we go down, we are not going alone. 

east of eden's picture

YOU, are going to use 'nukes' against Canada? Dream on. You would be utterly and completely destroyed.

NickPeeMe's picture

I was not aware that Dick Cheney stepped down.

VWAndy's picture

Big Brother inc won kiddies. This thing don't work the way they told you in school. How do you think we ended up having to pick between the twooo bigggeesstt scumbags in the country? Really we would be better off grabbing some random homeless person from any park.

runnymede's picture

I'd rather entrust the government of the United States to the first 400 people listed in the Boston telephone directory than to the faculty of Harvard University.

William F Buckley

VWAndy's picture

 I learned some debating basics from him years ago. A very sharp guy. Unlike his kid.

east of eden's picture

You know, honestly, that is the best suggestion I have heard in years. 

redmudhooch's picture

Just for shits and giggles, here is what he promised. Go to whitehouse.gov, write Donald and tell him how you feel.

Donald Trump’s Contract with the American Voter
https://assets.donaldjtrump.com/_landings/contract/O-TRU-102316-Contract...

redmudhooch's picture

Why does only half of America vote?

This is why.

Until bribery and corruption is punished, with jail time, and all the blackmail by the deep state is punished with jail time,
don't expect any change, money is to blame as usual. Take away the money, make it really illegal.
End Superpacs, ngos, think tanks, foundations, citizens united, McCutcheon v. FEC, dark money, soft money,
etc, etc. Make it all illegal, end the unlimited illegal spying by deep state that allows them to blackmail pols, judges, law enforcement,  and enforce all this shit by putting people in JAIL.
Kick all the foreign spys and provocateurs out of the country. This is a small start..

Koba the Dread's picture

Great idea! Please send us your secret plan for how we're going to do these amazing things. Oh, you don't have an operational plan to bring your ideas to fruition. Then shut the f*ck up! You're just wasting bandwidth.

In World War II, a British comedian said he had a play for getting rid of German U-boats, boil the Atlantic Ocean. When asked how you could boil the Atlantic Ocean, he replied that he was just an idea man. Technicians would have to work out the details.

Or Popeye's comment: "If we had some ham, we could have ham and eggs. . .if we had some eggs."

Get it, pal! An idea is not a good idea because you thought of it. An idea is a good idea if you can find a way to make it work. Now go back to your Pla-doh and make dinosaurs. G-r-r-r-r-r-r!

WolfgangCire's picture

trump's reign of terror has only begun

east of eden's picture

Trump's regin of terror will end 

'with a bullet's gun'

- Sir Elton John, Queer, Leftist, Order of the British Empire, Knighthood. 

 

Xena fobe's picture

Shouldn't they have made him "Lady Elton John"

Peterman333's picture

Did any of the Parisians while rubbing elbows with les villains ask your opinion about how completely f'd France and Paris are? Trump is the last thing they need to be thinking about.

 

Robert Trip's picture

My political balloon was forever popped when the decision to keep killing folks in Afghanistan was made.

Most of these "terrorists" are farmers and goat-herders who have banded together to fight the invaders and protect their families and property.

We would do the same thing if assholes like us invaded us, and they would call US "terrorists."

That "mother of all bombs" we dropped and then crowed about what a big bang it made wasn't exactly a "smart bomb."

Dropping that bomb was a test for the Iranian nuclear facillities to see if it was capable of doing the job.

I believe the bomb was personally signed by Bibi.

Anyway, enough rambling for now.

Even the sports suck in this country now, excluding hockey of course.

runnymede's picture

Excellent ^^^^

+1 on the hockey. The best sport to watch in person. NCAA is a corrupt joke. Its all about the money, though they pretend it's about "student athletes"

And I had a kid play Div 1 sports-----

 

fuckstar's picture

This smear is hyperbole and opinion. No substance, no facts. Don't plan to do business with GoldCore.

bluez's picture

Trump has serious flaws, but 99.9% of us do.

I predict that in seven years it will still be too early to tell what the Trump presidency is about.

Swamidon's picture

Trump is our figurehead but we can't count on him so the Deplorables must begin working hard now to form a 3rd Political Party to carry the banner forward with the next President after Trump.  We need a real leader not a chicken hawk who can't find Patriots in America.

Betrayed's picture

No change will be allowed thru the Vote. This last election removes all doubt.

tripletail's picture

A third party will never defeat the deep state. The time for any attempt to reform the government within is over! We all know what must be done, right?

Swamidon's picture

We all know what needs to be done and what should be done, the real question is "how?"

aloha_snakbar's picture

This is the social season in the French countryside.

I stopped reading right there; too much diseased european butt-fuckery for my delicate sensibilities...

DjangoCat's picture

Small minds lead to wasting dick disease.

aloha_snakbar's picture

Tell that to your Mom... once she stops screaming...

Aristofani's picture

Yep. zeig heil president mattis!

(to be done with a straight arm and limp wrist)