Is J.P. Morgan’s CEO, Jamie Dimon, Trump’s Pick for Treasury Secretary?
Before a president names his pick for a major post, such as a Supreme Court nominee or a cabinet position, he floats what’s known in Washington as a “trial balloon” – that is, he names the prospective candidate to see what sort of opposition will pop up.
There are other reasons for trial balloons as well. For example, suppose you want to honor a member of your opposition whom you have no intention of really offering the job, but want to soften potential future criticism from that person, or his supporters.
I think we’ve seen this week the most important trial balloon has the name of J.P. Morgan CEO, Jamie Dimon, attached to it as a possible Secretary of Treasury pick.
My opinion – President-Elect Trump has zero intention of picking Dimon – probably THE most important banker in the U.S. – as his Secretary of Treasury. But he needs Dimon’s silent support on some very important macro-economic policy changes which I believe Trump is seriously considering.
The problem is that a banker like Dimon could shoot down such proposals in their infancy. Trump needs him – to be silent on such matters – and we – the entire world of monetary reform – need him as well.
Once the truth about money creation is known, the temptation for a bold new President-Elect to take the bull by the horns and start implementing money that is created without debt – instead of almost all money being created as an interest-bearing debt – it is so tantalizing as to be very difficult to resist.
I think that the only real contender in this race for Trump’s most-important money job is former Goldman-Sachs partner, Trump’s campaign finance manager, Steve Mnuchin.
Floating Dimon’s name not only helps Trump’s chances of reducing any potential Dimon criticism going forward, but by comparison, makes Mnuchin look like a saint.
I mean, if you have to pick someone from the rattlesnake den to manage the rattlesnakes ball, at least pick the one with the nicest, freshest face who hasn’t been thoroughly tarred and feathered by guys like me in the past?