April 13, 2011 by John Myers
I understand that many of you want nothing better than to tell President Barack Obama, “You’re fired!” But do we really need a New York City billionaire Donald Trump to help us do it?
I fret over Trump’s motivations. He could be questioning Obama’s birth certificate to stir up publicity for himself and his TV program, “The Apprentice.” It could also be that Trump wants to create negative sentiment against conservatives by painting us as extremists. If so, then The Donald is really allied with Obama and privately wants to see him re-elected through the power of independent voters.
Before you dismiss that Trump is really an Obama ally, consider this from Brendan Coffey’s blog on Forbes.com:
“Donald Trump may be talking a game the Tea Party activists embrace, such as consistently questioning President Obama’s American birth of late, but an analysis of his political donations since 1989 show a distinct support of the Democratic Party that may not go over well should Trump be serious about running for the Republican Party nomination for President.
“According to electoral cycle donations via OpenSecrets.org which I examined this morning, Trump has donated a net $744,033 to political candidates and committees since 1989 (the extent of the online database).
Of this, $612,083 are [sic] to candidates or parties identifiable either as Republican or Democratic.
“Of that amount, $320,300 of that have [sic] been to the Democratic Party and Democratic candidates; $291,783 to Republican committees and candidates. That’s 52% of his giving to identifiable political giving to Democrats.”
Forbes’ list of some of Trump’s liberal recipients includes:
- $20,350 to Charles Rangel, the Harlem-based Congressman
- $9,900 to Chuck Schumer
- $9,400 to Harry Reid
- $9,000 to various Kennedys, mainly Ted.
- $5,500 to John Kerry
Trump is not putting much of his money where his enormous mouth is.
Even as I was finishing up this column I found this editorial by Richard Roeper of the Chicago Sun-Times: “Having written three books and dozens of columns debunking urban legends, myths, rumors, tall tales, half-truths and general crackpottery, I’m hardly one to jump on the “Aha!” bandwagon, but I’m starting to think Donald Trump is spearheading a vast conspiracy. To get Barack Obama re-elected.”
Regardless of Trump’s motivations, I believe that the spotlight on Obama’s birthplace may hurt conservative-minded people that want to see the President defeated in 2012.
I say this even though I believe that Obama may not be a natural-born citizen as the U.S. Constitution requires. If that is true, as a person who respects the Constitution, I object wholeheartedly.
Yet as a pragmatist I fear that if we focus on Obama’s birthplace we are wasting our energies and it could cost us the election. Keep in mind it is very hard to prove a negative, and with the Ruling Elite supporting the President, I think it could be next to impossible.
Lessons From The Vince Foster Saga
Remember Vince Foster? He was Deputy White House Counsel to President Bill Clinton and a close confidant of the First Lady Hillary Rodham Clinton. Foster was found dead in Fort Marcy Park on July 20, 1993. A three-year investigation conducted by independent counsel Kenneth Starr concluded that Foster died of a self-inflicted gunshot wound. It was all very convenient for the President and the First Lady because Foster knew the deepest secrets of the Clinton’s not-so-blind trust, as well as the truth behind Whitewater.
The ruling of suicide was made despite the fact that one witness, Patrick Knowlton, entered Fort Marcy Park approximately 70 minutes before Foster’s body was discovered. Evidence shows that Foster was already dead at that time. Knowlton saw two vehicles in the parking lot, neither of which matched the description of Vince Foster’s 1989 silver Honda.
There were many other inconsistencies with the suicide finding and I remember I was outraged that more was not done. At the time, I was publishing an investment letter and President Clinton was coming up for re-election. I wrote about Vince Foster’s death, Whitewater and what I thought was a web of corruption and lies inside the Clinton White House. Some influential writers and broadcasters addressed the subject, all for naught. Clinton was re-elected in a landslide over Bob Dole in 1996.
Looking back, I think time and energy was wasted on what was almost impossible to prove while not enough was spent on Clinton’s blatant failings as President. Fast-forward 15 years and we have a President that takes prideful ownership of many policies that are destroying America.
A Checkered Past Since 2008
Three years ago, candidate Obama said he would fix the economy. Instead, he spent his energy on ramming Obamacare down the throats of the nation.
The President also promised to be fiscally responsible. Yet Federal spending has soared during the President’s 26 months in office as is clearly demonstrated in the chart below.
The U.S. Treasury Department is warning that it will reach its debt limit of $14.3 trillion in mid-May unless the Federal government gets new financing.
Given Obama’s ambitions on everything from green energy to healthcare to Arab intervention, Federal spending as a percent of gross domestic product could exceed World War II levels. That could be disastrous for America for many reasons, one being if China—sitting on $1 trillion in Treasuries—starts to liquidate Treasury debt. That would send interest rates soaring (the Treasury would have to auction off debt to keep the government afloat). Instead of paying 2 percent or 3 percent yields, the Treasury would have to yield 22 percent or 23 percent.
This would devastate the bond and stock markets as well as real estate, which is still staggering from the 2008 Depression.
Then there is the dollar itself. The bear market for the greenback began in 2001 with President George W. Bush. But the decline of the dollar has been accelerated under Obama. A decade ago my Canadian Loony was worth less than 70 cents against the dollar. Today it is worth $1.05 U.S.
It could get a lot worse, said former Treasury Secretary and Secretary of State James Baker: "At some point we have to get a handle on this spending binge we’re on."
Baker, whose glory days were in the Reagan administration, added: "If the United States of America didn’t have the dollar as the de facto reserve currency of the world, we’d be Greece. I mean we are broke, bankrupt."
When one of the top American powerbrokers of the 20th Century says the country is bankrupt, that should be the headline on every newspaper in the country. Instead what is making headlines is Trump. Don’t you see? We are drowning in an ocean of debt and people like Trump are describing the water.
America is in for hard times if Obama is not defeated. And there are so many obvious reasons that he should not be re-elected.
Yours in good times and bad,
Editor Myers’ Energy & Gold Report