Secretary Mnuchin: “the China tariff delay is a good will gesture, nothing more”
The European Central Bank (ECB) announced Thursday an indefinite supply of fresh asset purchases and deeper cuts to interest rates, into negative territory, as it tries to prop up the ailing euro zone economy. These are EU financial counter-measures to the geopolitical trade realignment triggered by U.S. President Trump.
The EU is driving down the value of their currency in an effort to help prop-up the French and German economies that are dependent on exports. In essence, the financial and economic positions of the EU and China are connected. The more pressure the U.S. (Trump administration) puts on China, the less China can purchase from the EU.
With that as the backdrop, Treasury Secretary Steven Mnuchin holds an impromptu press conference outside the White House on China trade, Huawei and the bond market.
Prepare yourselves, because while these European and Asian actions might seem rather esoteric and high-minded, they have real economic consequences. President Trump and his team have the global community against the ropes. This is when U.S. multinationals, and their paid attack-pundits, will fight back hardest.
Watch closely, and just like the last three years, we are going to see masks dropping from false Main Street pundits who were really just Wall Street (decepticon) mouthpieces.
With all of these trillions at stake, we will see just who sold out the U.S. economy for their own financial benefit; and -perhaps more importantly- who the multinationals paid to maintain a false illusion of patriotism.
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