Episode 786: What Can We Expect in a Trump Economy?
Newt's World
Gingrich 360
4.6 • 6.4K Ratings
🗓️ 13 December 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
Newt talks with Charles Thorngren, founder and CEO of Legacy Precious Metals, about President-elect Donald Trump's recent appointments to key economic roles, including Scott Bessent as Secretary of the Treasury, Howard Lutnick as Secretary of Commerce, and Paul Atkins as the nominee for the Securities and Exchange Commission. The conversation delves into the potential impacts of these appointments on tariffs, trade agreements, and the economy. Their discussion also covers the role of cryptocurrencies in the financial landscape and the importance of a diversified investment portfolio, including precious metals. Thorngren provides insights into these topics and offers a special promotion for listeners interested in diversifying their investments with precious metals. To learn more call 866-484-4043 or visit legacypminvestments.com
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Transcript
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| 0:00.0 | On this episode of NUTS World, President-elect Donald Trump has recently named some people |
| 0:11.2 | the key roles in the economy, Secretary of the Treasury, Secretary of Commerce, the Securities |
| 0:16.5 | and Exchange Commission. We're going to discuss these appointments in the background and experience |
| 0:21.2 | of his nominees, and what will President-elect Trump do to break inflation in January? |
| 0:26.6 | Here to discuss these important topics, I'm really pleased to welcome back my guest and |
| 0:31.9 | good friend Charles Thorngren, founder and CEO of Legacy Precious Mills. |
| 0:37.5 | Thank you. Thornbrun, founder and CEO of Legacy Precious Metals. |
| 0:49.5 | Charles, welcome, and thank you for joining me again on Newt's World. |
| 0:53.1 | Oh, it's my pleasure, as always, and thank you for having us back, Newt. |
| 0:56.9 | I always learned so much from you because you pay such careful attention to the economy. |
| 1:01.5 | So let's talk about a couple of key appointments that President Trump has made. |
| 1:04.7 | You know, he nominated Scott Besson to be Secretary of the Treasury. |
| 1:06.8 | He's a hedge fund billionaire. |
| 1:14.1 | It was an economic advisor for the Trump presidential campaign. My sense is that Bessent is very much in line with Trump. One Fox News op-ed, he argued that using tariffs correctly is a powerful |
| 1:20.9 | way to revitalize American manufacturing and industry. What's your sense of this whole tariff argument? |
| 1:28.3 | It's an interesting concept. On the face of it, it makes a lot of sense. If we want to do a couple of things, increase sales of U.S. products, which is always important, reduce deficit by increasing tariffs. We can then minimize some taxation, which is always good. You |
| 1:48.0 | get some top-down tax reductions and let that flow down. But I think the most important thing |
| 1:53.4 | about it, it's saying that we're not living in the status quo. What we've done for the past 20 plus years isn't working the way that it's |
| 2:03.6 | supposed to. Let's take a new approach. And the tariff makes a lot of sense. You have to look at |
| 2:09.2 | the tariff and say, we're doing this for more than just fair trade, but we're also doing this |
| 2:16.2 | to secure the power of the U.S. dollar. By increasing |
| 2:21.0 | tariffs on nations, we're now telling them they have to carry more U.S. dollars. The threat to the |
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