• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
herman cain bitcoin trump
Advertisement

Trump May Affect Bitcoin Price With Herman Cain Pick

Christina Comben by Christina Comben
4 years ago
in Bitcoin, Bitcoin Politics, News, News teaser
0
Advertisement

Trump is recommending Herman Cain for one of two vacant seats on the Fed Board. The man who advocates a return to the gold standard could undermine Bitcoin price in the short-term as ‘digital gold.’


Experience in Pizza Is the Least of Our Worries

Much of the media seems to be concerned by the fact that Herman Cain has a past in the pizza business. However, there are far more concerning things afoot.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

Not only has he been embroiled in sexual harassment claims (which puts him in good company in Washington) but he’s also a staunch believer in the return to the gold standard.

New likely Fed appointment, Herman Cain. Advocate of sound money and a gold standard! https://t.co/NlnNVEd6MQ

— Neil adams (@okpal100) April 5, 2019

Trump’s Stand Off with the Fed Boosted Bitcoin

Up until now, there has been some encouragement on the part of the Bitcoin community about the war of words between the United States Fed and the White House.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Trump has been repeatedly vocal about his disagreement of Jerome Powell’s interest rate hikes. He’s even gone as far as to blame all of the US’ economic woes on the Federal Reserve.

The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!

— Donald J. Trump (@realDonaldTrump) December 24, 2018

His fiery tweet of December last year claimed that they failed to understand the need for strong dollars or ‘necessary’ trade wars.

For the Bitcoin community, inflating the money supply should, theoretically, boost BTC price relative to the USD moving forward. That’s to say, the Fed’s monetary easing is a positive sign for cryptocurrency long term.

“The trend in Bitcoin’s price flipped from bear to bull once the Fed said it would ease-off tightening and engage in permanent money printing (‘permanent QE’),” Max Keiser told Bitcoinist last month. “This, by the way, is the definition of debt-monetization, which means the door has been opened to a hyperinflationary currency collapse of the USD.”

Hermain Cain Backs Gold Bars, Not Digital Gold

Any enthusiasm over Trump’s drift with Powell will be dampened by his vote for new Fed board member Cain. A candidate who is against interest rate hikes and wants to see a return to the gold standard.

One of Bitcoin’s strongest virtues is that it is anti-inflation, unlike the dollar which has lost some 95% of its value since 2013.

Purchasing Power Of The U.S Dollar:
(1913-2019)

The dollar has lost more than 95% of its value since 1913.

RETWEET to raise awareness. pic.twitter.com/5VbiPWEchC

— GoldBroker.com (@Goldbroker_com) February 10, 2019

Trump Has Undue Influence on the Central Bank

A past in pizza and sexual scandals aside, more concerning still is Trump’s undue influence on the world’s most powerful central bank. Granted, his suggestions must be approved by the Senate and, so far, haven’t worked out as planned.

However, the fact is that Trump can directly influence monetary policy through nominations to the Fed. Since the start of his presidency, in fact, he’s already successfully appointed four of the seven-member Fed board.

If the next generation of school children grow up to understand the separation of money and state, then bitcoin will have succeeded.

— Erik Voorhees (@ErikVoorhees) August 14, 2012

While the US central bank continues to be influenced by one man in the Whitehouse and seats filled with fossils like Herman Cain, it looks less likely that Bitcoin will achieve its goal.

Would a sound money advocate be bearish for bitcoin price? Share your thoughts below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christina Comben

Christina Comben

Related Posts

Bitcoin

Bitcoin Bearish Signal: Aged Supply Flows Into Binance

5 hours ago
Bitcoin this week

Bitcoin And Crypto This Week: Here’s What Will Be Important

9 hours ago
Bitcoin price

Bitcoin Price Nears $24,000 Mark – Can Bulls Push BTC To $25K This February?

13 hours ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

1 day ago
Institutional Bitcoin Buying Is a Positive Sign, Suggests Matrixport

Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport

2 days ago
Bitcoin BTC

Inflation May Be In A Lull, What Does That Mean For Bitcoin?

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Unbanked and Mastercard Team Up to Accelerate Crypto Card...

    45 mins ago
  • Binance Coin (BNB) Trading Volume Pumps By $7 Million While...

    10 hours ago
  • Polkadot (DOT) sees 5% Growth, why Cardano (ADA) and...

    11 hours ago
  • More than a trillion dollars moved in Litecoin (LTC)...

    11 hours ago
  • Moralis has revealed the integration of Web3 API with Aptos...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.