Media Celebrate After Trump’s Pro-Gold Fed Nominee Is Blocked
It was only after he entered politics that President Donald Trump began to fully grasp the bias, dishonesty, and fakeness that runs throughout the so-called mainstream media.
But gold bugs and sound money advocates have long known to distrust the reporting of establishment news sources.
Journalists’ anti-gold and anti-Trump biases converged this week as the Senate took up President Trump’s nomination of Judy Shelton to the Federal Reserve Board.
Shelton, a fierce Fed critic and past supporter of a gold standard, drew intense opposition from Senate Democrats. She also faced opposition from Republicans Lamar Alexander, Susan Collins, and Mitt Romney.
A path to her confirmation appeared to exist earlier this week, but that path was blocked, at least temporarily, on Tuesday.
Two Republican Senators had gone into quarantine and Democrat Kamala Harris shuttled in from her Vice President in-waiting training to cast a “no” vote.
Senate Majority Leader Mitch McConnell took procedural steps which enable him to bring Shelton back up for another vote when the two quarantined Republicans return. But that didn’t stop the press from pronouncing her nomination dead.
“Kamala Harris Rushes Back to Washington to Block Trump From Putting a Crank on the Fed Board,” blared a headline from Slate. The article smeared Shelton as a “crank who wants to return to the gold standard and get rid of deposit insurance.”
NPR, somewhat more diplomatically, derided Shelton for “her unorthodox support for the gold standard, a theory long discarded by mainstream economists.”
Meanwhile, NBC News also parroted the party line about Shelton. She is, we are told, “known for her unorthodox support for the gold standard, an archaic policy concept to which no developed economies today adhere.”
For those of us in the precious metals community, it’s all too familiar – the personal attacks, the equating of gold to a “barbarous” relic of the past, the invocation of “mainstream economists” as authority figures, etc.
The vast majority of financial journalists lack the intellectu
Article from LewRockwell