SMM News: gold, which has historically been regarded as a safe haven, has risen above $1270 from less than $1200 an ounce in early October, up nearly $1200 at one point. Also a safe haven asset is bonds, where the yield on the 10-year note began to fall after hitting more than 3.2 per cent in early October and is now around 2.8 per cent. In addition, U. S. stocks, American oil also began to fall in early October, American oil is still in the bear market, U. S. stocks due to yesterday's rally to avoid falling into the technical bear.
In early October, a major event took place, that is, the Kashuji incident. After the incident broke out, the Saudi side was secretive and had been reluctant to admit that the Saudi Crown Prince was related to the killing of Kashuji. The international community strongly demanded that the truth of the incident be found out. Until the Turkish media exposed important evidence such as audio recordings, which left Saudi Arabia speechless, Saudi Arabia finally admitted that Kashuji had died in a murder attempt and arrested those involved in the case. Us President Donald Trump has been worried that the Kashuji incident will ruin the arms deal between the United States and Saudi Arabia, so he has not imposed sanctions on Saudi Arabia, and in the end, he has only sanctioned 17 people involved in the case, indicating that the US sanctions are nothing more than selective sanctions. Iran alone, Saudi Arabia is not more independent? If Iran kills Kashuji, will Trump let Iran go?
After the Kashuji incident, Saudi Arabia knew it was wrong, and it was quite cooperative with Trump's demands for low oil prices. Oil prices experienced an avalanche, and Russia and Saudi Arabia could not sustain much during the period of low oil prices. The two countries have become so dependent on crude oil. Of course, the United States will not hold up. The cost of shale oil production in the United States is estimated at $40 to $50 a barrel. American oil companies will not make money at low oil prices, and they will certainly be dissatisfied with Trump. Trump obviously doesn't want to lose the support of these people. Trump's intention should be to force OPEC to cut oil production to push up oil prices, and then allow shale oil in the United States to gain more market share. Sure enough, at this month's meeting in Vienna, the OPEC organization decided to cut production by 1.2 million barrels, and the opportunity for the United States came!
II. It's a big deal for Trump.
The downturn in oil prices since October and the stock market downturn have had a big impact on Trump, but it has been more than that. Trump has been in trouble lately.
1. With the Federal Reserve
When the Fed raised interest rates again in December, U. S. stocks plummeted, Trump blasted Powell and even heard that Trump was privately soliciting advice to fire Powell, a move that Trump was seen as crazy. No US president has ever interfered with the Fed politically, nor has any US president made such a confrontation between himself and the Fed chairman, and Mr Trump is unique.
2. And Matisse.
Defense Secretary Matisse is regarded by the outside world as the last adult in the White House. In the eyes of everyone, what the White House is doing is too childish, unlike what adults would do. Only Matisse is still a more rational person. As a result, Matisse was highly expected, but because of dissatisfaction with Trump's plan to withdraw from Syria, Matisse chose to resign and said his conflicts with Trump were irreconcilable. As a result, Trump is seen as the driving force behind Matisse's drive away.
3. With the Democratic Party.
Trump is determined to build the border wall for so-called border security. In his eyes, there is no wall = no security. In order to get the coveted $5 billion wall repair fee, Trump is at loggerheads with Democrats, even at the expense of shutting down part of the government. And said the government will remain shut down until the funds are in place, regardless of the needs of the people.
4. With the American people.
The death of an 8-year-old Guatemala South China Sea detained by the US government on Christmas Day was the second death of a non-migrant child in a detention center in the United States. People have denounced Trump's "zero tolerance" policy towards border refugees and said it was unethical to separate children from their parents. At present, American society has split into two factions against Trump's tough refugee policy, one supporting Trump, discriminating against refugees, and the other opposing Trump and welcoming refugees.
Trump's troubles seem to be more than that. On Christmas Eve, Democratic leader Pelosi and Schumer issued a joint statement attacking Trump, in which the two leaders said, "on Christmas Eve, President Trump has thrown the country into chaos. As soon as he fired the defense chief and declared war on the Fed, the stock market was in a mess. " It can be said that there are a lot of people in the United States who are dissatisfied with Trump right now.
Can such a non-entangled president really make America great again?
