Trump Presidency Is Over - Bannon Is Right

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)

Please share our research with family, friends and colleagues who you think would benefit from being informed by it.

Comments

johnjkiii Sat, 08/26/2017 - 07:43 Permalink

Gosh! Was Trump actually elected? If you read some of the Bullshit spewing from these pages, you wouldn't believe it. To check for certain, ask Paddypower, the UK betting house how much that pre-payoff on the Hitlery bet is still chafing their assholes. 

GUS100CORRINA johnjkiii Sat, 08/26/2017 - 08:48 Permalink

Sorry to ruin your fantasy, but President TRUMP was elected despite the MARXIST PROGRESSIVE LIBERAL LEFT best efforts to GAME THE SYSTEM with 7+ million illegal, invalid votes from: 1.) Non-citizens, 2.) DEAD PEOPLE, 3.) Vote Early, Vote Often crowd, 4.) Jurisdictional violations, 5.) RIGGED Voting Machines that switched votes and 6.) Technology company (GOOGLE, APPLE) voter fraud violations.It is not just the UK betting houses that lost, but the MSM had their reputations soiled for YEARS to COME.May the GODLESS, CORRUPT, VILE DEMOCRATIC PARTY get their just and due reward in a place where the fire is not quenched and the worm never dies.The real question I have for everyone: Did OBAMA really get elected legally?  I have heard people speculate that during his POTUS races, the voting system was so corrupt that OBAMA received millions of illegal votes.

In reply to by johnjkiii

chunga Kina Sat, 08/26/2017 - 09:48 Permalink

I see a strategy that counts on the so called deplorables being fickle, and I think that well is gonna eventually go dry.After he came out and said both sides were wrong in Charlottesville he was the greatest man that ever lived. A few days later he came out with his "new path" in Afghanistan and everybody wanted his head on a pike.That was just 5 days ago and now he's back to being great because Joe Arpiao. Bannon, Gorka are gone, I'll guess Conway is next. Cohn publically said he thought about it (lol) but stayed on to do gawd's work.One final litmus test for me...Assange...if he tells to him fuck off that's it.All this talk about the importance of public opinion is most likely non-sense and doesn't matter one damn bit, it's all fake.

In reply to by Kina

SixIsNinE auricle Sat, 08/26/2017 - 21:12 Permalink

Bonner has been housebroken for years.... if he had taken the oath, the dinner guests on inauguration day would've seen lil' Bill doing his 1's & 2's obediently in his little shit & piss bed.if Bonner is so neutered and cucked that he would agree at a foreigner's soiree that our overwhelmingly elected President is a "disgrace" then that's all she wrote for you lil Bill. You' are a total DOOOSHBAG acting like a white cuckold ivory-tower snowflake guardian of the dimwits.the bolsheviks will come for you early, cause you probably wear glasses.you're a dead man walking Bill. 

In reply to by auricle

HalinCA (not verified) JRobby Sat, 08/26/2017 - 12:12 Permalink

As long as they have something to lose, they will whine and pout and strut ... and take it.Remember one can only use their 2nd amendment right for the original purpose it was intended once.  After that the hellhounds and nazguls will hunt you down. Make that one time count.

In reply to by JRobby

factorypreset Sat, 08/26/2017 - 09:13 Permalink

“Decisions are much different when you sit behind the desk in the Oval Office.”

Yes that's because there's probably a picture of JFK'S half blown-off head permanently fixed to the president's desk to assist in the decision making process. 

bshirley1968 factorypreset Sat, 08/26/2017 - 09:54 Permalink

Utter bullshit!If you aren't willing to take a bullet for doing for the country what you believe is right, then you don't deserve to be president of my country.Secret service is expected to take a bullet......to save one man's life......are they less important?   If you think so, then that explains everything wrong in America today.If you think you are going to fight REAL evil without REAL risk, then you are a dumbass and should have never been elected president. 

In reply to by factorypreset

factorypreset bshirley1968 Sat, 08/26/2017 - 10:40 Permalink

I don't disagree with you - only exaggerating a point.  Which is to say I believe that most politicians are brought to heel whether through threats to their physical well being (and that of their family's), through threats of public exposure (that is blackmail), and/or enticement with money and power or some cash combination (you scratch our back we'll scratch yours).  I don't think many are up to the task of resisting these threats and temptations.  I don't know if I would be either.  Unfortunately most politicians seem to be more interested in power and money than serving those who elected them. 

In reply to by bshirley1968

natashav vened Sat, 08/26/2017 - 19:42 Permalink

That's the tragedy.For a man who cares only to feed his ego,he did have a shot at being a folk hero.He could have been loved forever,but he chose the path of greed and personal destruction. I never put my faith in Trump,but I can say I did hope for even a second he might be who he said he wasduring the campaign.It didn't take him too long to unmask,and for that, I'm grateful to not be led around by any false hope. Americans are not going to vote our way out of this corruption.The Corrupt designed the voting mechanism for that very reason.They designed voting to defraud the American people and keep them on the slave train.Washington, Wall Street & Silicon Valley must be burned to the ground.

In reply to by vened

caconhma vened Sat, 08/26/2017 - 19:54 Permalink

Trump was put into the WH. The same way as GWB and Obama where put into the WH. Even Hillary admitted that she wanted to see Trump as her opponent in the last election.Trump was not ever qualified to be a real US President. Trump has no respect for the US Constitution. Trump always was a low-life POS but the US Congress is not any better. They all are clueless of what they are doing. The ruling Zio-banking mafia are also clueless. The USA is in a systemic crisis and it has to be played out regardless the elite wishes.

In reply to by vened

SixIsNinE vened Sat, 08/26/2017 - 21:17 Permalink

Alas, it is said that Andrew Jackson like to grab the farm girls by the pussy....and they liked it.... especially the colored ones.it's all in the technique.  Slick Willy just didn't have the knack for it, as he was always biting and hissing, struggling to wiggle it in...the Cankled One of Hitlerian Renown claimed to have a generous Grabber and even Slick Willy gave up honors for the Cankled GrossEmOut Cunton -  but she tried and tried and wouldn't stop.... grabbinb the pussy left and right claiming it was her duty and honor to grab it wherever she found it.Alas, the Cankled One & Slick Willy still roam the streets at night freely.... and who is to blame for that? 

In reply to by vened

shutterbug Sat, 08/26/2017 - 09:13 Permalink

Getting elected means nothing if your actions as president are the opposite of all your election promises... the reasons for that are stated in this article....

Trump will be a puppet for the remaining 3 years and yes, his presidency is already over.

But a lot of people will deny reality and dream on. That includes democrats and republicans.

G-R-U-N-T Sat, 08/26/2017 - 09:42 Permalink

How quick some are to dampen the idea that Trump is finished. Once Trump begins to realize that he's surrounded by those that are undermining the people that elected him, the purge will begin, IMHO.I figure it will be some triggering event that wakes up the people and Trump, where the sleeping majority, will put the hammer down. I'm reminded that the whole world was against Trump, lambasting him, mocking him, but the people had a different opinion and elected him. As a consequence, the MSM spokeholes,  shadow government, the oligarch globalist's and nation destroying bureaucrats (who can careless about the people) will continue to punish the people by punishing Trump to maintain their braindead 'status quo', as we are witnessing the 24/7 massive abuse, abuse that has never been matched in U.S. history. Keep in mind what Isoroku Yamamoto burped up when he finally had a moment of clarity: “I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve.”

847328_3527 Sat, 08/26/2017 - 09:33 Permalink

All things in life are give and take. Trump is no exception in order to get some stuff done. remember, Hillary is not president and Dems have not won an election since.Assoff got beat bad.

JoeTurner Sat, 08/26/2017 - 09:38 Permalink

Trump has already succeeded beyond belief. Millions of middle class white people have been red pilled in the last 6 months and millions more are awakened evey day. If he survivies one term the USA will be on a very different footing.

Kina JoeTurner Sat, 08/26/2017 - 10:03 Permalink

This is true, despite Trump betraying most of us with his rolling to Kushners MIC geopolitics.Where Trump hasn't needed Congress he has been able to achieve quite a bit with exec orders. He has also been very important as a counter to the Antifa left, and a voice for the more silent middle America who must be concerned with all this shit.Trump's other very valuable contribution is that the advent of Antifa has bought out into the open the Deep State agenda, and all the players.I may get sick of repeating but the GOP game plan is to make sure NO Trump agenda item gets approval, regardless. They will not allow him any type of success.

In reply to by JoeTurner

Boogity Kina Sat, 08/26/2017 - 11:02 Permalink

The Antifa sideshow as well as other silly social / cultural issues are just wedge issues to keep the clueless masses distracted from the real problem which is the Neocon / globalst / MIC agenda for endless war and Empire building, which at this point Trump is pursuing with more vigor than any president we've ever had in office.   The Founding Fathers are turning over in their grave watching Trump and his gaggle of swamp-dwelling globalist Pentagon armchair generals wander the world looking for dragons to slay.  

In reply to by Kina

SheHunter Kina Sat, 08/26/2017 - 23:34 Permalink

why the military increases and Trump jumping deeper into Syria/Afghanistan and maybe S. America Kina?  180 degrees from his pre-election platform.  Many of us cast a vote for him because he denounced the billions spent on nowhere wars instead of those dollars invested at home where they belong.  Sorry.  There is no second chance there.  Trump is a traitor to his words.

In reply to by Kina

DjangoCat JoeTurner Sat, 08/26/2017 - 11:46 Permalink

Agreed, the curtain is being pulled back to reveal the rot and decay at the core.  While many here revile the crypto world, it may be the only escape from the increasingly fascistic financial control mechanisms being inflicted on the people globally.There are many who say we are headed for a shutdown and reset of the financial system.  I would rather be outside strolling in the sunshine when it happens, my crypto safely locked away on the blockchain where They can't take it. Gold is great too, but storage and transport are the problems.

In reply to by JoeTurner

malek JoeTurner Sat, 08/26/2017 - 23:03 Permalink

Actually I agree with your line of thought as written.

But now you have to continue, and tell us if those "millions of [red-pilled] middle class white people" will be enough to change the course.
I doubt it.

And now I'm seeing complete left coast asian news channels falling in line with the libtard "white supremacists want[ed] to congregate in SF tomorrow" bullshit.
I would have expected the asians, due to philosophy and intelligence, an almost automatic ally to those middle class white people - maybe I was wrong.

In reply to by JoeTurner

East Indian Sat, 08/26/2017 - 09:40 Permalink

Either the deep state goes down, or the whole world... The labels 'right' and 'left' are now meaningless. Both want big, snooping, nanny state to control us, while the MNCs will be more powerful than nation-states. A plutocrat proposes to Afghanistan to form the first mercenary air force. We will be all serfs, finger-printed, living on mortgaged houses, using Uber fleet and buying bread on EMI. Time is not far away when we will all envy the primitive people of Papua New Guinea.Trump is one more hope lost.