Wednesday, November 9, 2016

I voted for Donald Trump but world was not prepared for a Trump victory


I think the world was not prepared for Mr. Trump to win this. So money is fleeing to safer havens — it's going to gold, it's going to the Japanese yen.

US Dollar
I think that we're going to see the dollar become a good deal stronger because of this. I do think that Mr. Trump tends to be somewhat of a trade protectionist. Who's going to be hurt by that? It's going to be the Europeans. It's going to be Germany, that depends so much upon trade exports.

Gold
I think the benefit goes to the gold market because of uncertainty. I think that's going to happen rather consistently.

Energy
The new president is going to be far more expansionary when it comes to energy. That's going to be helpful to the suppliers of the production of crude. It's going to be detrimental to the crude's price itself.

The coal industry itself has been resurrecting on its own, and it's going to do far better. Coal mines will be reopened. New coal production will come on stream. Natural gas ... we will be drilling, drilling, drilling for more.