Donald Trump Has The Chance To Do What Ronald Reagan Wished He Had
The post Donald Trump Has The Chance To Do What Ronald Reagan Wished He Had appeared on BitcoinEthereumNews.com.
US President Ronald Reagan (1911 – 2004) shakes hands with real estate developer Donald Trump in a reception line in the White House’s Blue Room, Washington DC. November 3, 1987. The reception was held for members of the Friends of Art and Preservation in Embassies Foundation. (Photo by White House Photo Office/PhotoQuest/Getty Images) Getty Images When Ronald Reagan died on June 5, 2004, Robert Novak observed that Reagan fulfilled every single promise but one. During his campaign for president in 1980, Reagan routinely told supporters that “No nation in history has survived fiat money, money that did not have precious metal backing.” Reagan wanted to return to the gold standard, and promised as much. Novak told viewers how very much Reagan regretted not fulfilling his dollar pledge. Why didn’t Reagan do as he promised? It’s a question that rates asking when it’s remembered that he could have unilaterally defined the dollar in terms of a gold ounce. And no one could have stopped him. How we know this can be found in the presidencies of Franklin Delano Roosevelt and Richard Nixon. In 1933, Roosevelt devalued the dollar from 1/20th of a gold ounce to 1/35th. He did the latter in the face of enormous amounts of criticism (with good reason), including from then Fed Chairman Eugene Meyer. So incensed was Meyer by FDR’s decision that he resigned over it, and subsequently bought the Washington Post to use as a vehicle for criticizing the U.S.’s inflationary president. Arguably more important for the purposes of this write-up is that totally contrary to what we’re told by left and right about the Fed’s mandate to protect the value of the dollar, it has nothing of the sort. Meyer was powerless in his battle to protect the dollar from FDR’s caprice. Fast forward to…
Filed under: News - @ January 25, 2026 3:30 pm