Confidence Erodes in U.S. Institutions... Is the Dollar Next?
Confidence in American politics is now rarer than gold.
The U.S. election system, once sacrosanct, is losing the trust of half the country. Which half will depend on the outcome of Donald Trump’s efforts in the courts to demonstrate widespread fraud.
The political left is certain Joe Biden is the rightful winner. They dismiss Trump's legal team as hacks and are unconcerned with the sworn affidavits and other evidence of fraud brought forth in legal cases.
The establishment media refrain is that there is zero evidence of widespread fraud. Some people thrilled by Trump’s apparent defeat may not even be aware the outcome remains in question.
Trump supporters, on the other hand, have been promised “overwhelming evidence” of fraud by Sidney Powell, Rudy Giuliani, and the rest of the president’s legal team. We’ll soon learn whether the evidence is sufficient to persuade reluctant judges to overturn election results.
But if election certification boards and judges uphold the current vote counts in the face of strong evidence of cheating, Trump’s supporters could be ready to revolt.
That path to an Inauguration Day in January where one side or the other doesn’t outright reject the person delivering the Inauguration speech looks extraordinarily narrow.
Perhaps there is a way to convince Trump’s people that Biden won the election fair and square.
However, many don’t need to see a shred of additional evidence; they consider what is already in the public domain to be overwhelming. They will not accept Biden as legitimate under any circumstances.
It seems unlikely Trump will ever throw in the towel and ask supporters to get behind a transfer of power to Biden.
It is likewise hard to imagine a scenario where Biden’s supporters will accept a court intervention and a second Trump term. They won’t be persuaded by even more evidence if what is already out there isn’t raising doubts.
It looks like the Federal Government may finally start reaping what leaders in Washington have been sowing in recent decades. They have been undermining confidence seemingly at every turn, as if it were intentional.
The weeks and months ahead will be historic. Investors should buckle up.
The markets appear to be under the control of the Fed and Wall Street banks. But if confidence fails in an institution as basic and fundamental as our election system, no other institutions are immune…
…including the Federal Reserve Note “dollar.”