by John Galt
February 13, 2017 19:40 ET
Steve Mnuchin has just been officially confirmed as the Treasury Secretary of the United States in a 53-47 vote by the U.S. Senate.
Why is this important?
Once again, just like the era under Obama, Bush, Clinton, and George H.W. Bush, Goldman Sachs will now have another insider deep within the Executive Branch providing advice, adjudicating regulatory disputes, and dictating numerous aspects of monetary and financial policy for the United States of America.
As I’ve said before with the Trump administration, Trust but Verify.
In the case of Secretary Mnuchin, I would look for the banksters to run wild and monetary policy to take a definitive turn towards a digital currency with strict regulatory enforcement in the future against the individual and small businesses, especially local community banks and credit unions. The policies I expect to see unleashed will bring us to a deregulated environment similar to the 1923-1927 insanity witnessed by the U.S. almost a century ago.
It did not end well the, and realistically, I expect it to end worse now.
Then again, would it be any different if the witch had won the White House? I seriously doubt it.
Prepare your personal finances accordingly.