At the start of the Chinese Communist Party’s intensifying oppression of Hong Kong last June, President Trump sought advice on what he could do to punish the PRC and protect Americans from having their savings endangered by investing there. Unfortunately, he turned to Treasury Secretary Steve Mnuchin and other Wall Street insiders for answers.
Last week, Mnuchin’s so-called Plunge Protection Team finally responded and, predictably, recommended basically doing nothing for at least the next seventeen months. He hesitatingly admitted as much in a White House press conference yesterday.
If Mr. Trump agrees, the CCP will continue to garner billions, if not actually trillions, of dollars from U.S. capital markets. Wall Street fat cats will get richer on hefty commissions and help our enemy underwrite its oppression at home and threats to us.
Mr. President: That would not be putting America first.
This is Frank Gaffney.