Trump Issued an Executive Memorandum Giving Mnuchin a $50 Billion Slush Fund; Mnuchin Gave Himself $386 Billion More

Trump Issued an Executive Memorandum Giving Mnuchin a $50 Billion Slush Fund; Mnuchin Gave Himself $386 Billion More

Five days before Congress passed the CARES Act on March 25 of this year, President Donald Trump issued an Executive Memorandum giving U.S. Treasury Secretary Steve Mnuchin complete discretion to use $50 billion in the Treasury’s Exchange Stabilization Fund (ESF) as Mnuchin solely saw fit. The Memorandum was dated Friday, March 20. On the prior Tuesday and Wednesday of that same week, Mnuchin had already used $20 billion of the Exchange Stabilization Fund to bail out Wall Street. As Mnuchin’s letter of November 19 to Fed Chair Jerome Powell confirms, he gave (or committed) $10 billion from the ESF to the Fed’s Commercial Paper Funding Facility on March 17 and another $10 billion to another Fed emergency lending program, the Money Market Mutual Fund Liquidity Facility, on March 18.

Gold Exports by Country

Below are the 15 countries that exported the highest dollar value worth of gold during 2018.

Switzerland: US$64 billion (20.9% of total gold exports)
Hong Kong: $37.2 billion (12.2%)
United Kingdom: $31.8 billion (10.4%)
United States: $20.3 billion (6.6%)
United Arab Emirates: $15.7 billion (5.1%)
Australia: $14.2 billion (4.6%)
Canada: $12.3 billion (4%)
Singapore: $11.1 billion (3.6%)
Peru: $7 billion (2.3%)
Japan: $6.3 billion (2.1%)
Ghana: $6.1 billion (2%)
South Africa: $5.5 billion (1.8%)
Germany: $4.6 billion (1.5%)
Thailand: $4.4 billion (1.4%)
Mexico: $4.3 billion (1.4%)
By value, the listed 15 countries shipped four-fifths (80%) of all gold exports in 2018.

Among the top exporters, the fastest-growing gold exporters since 2014 were: Singapore (up 1,136%), Thailand (up 57.5%), Japan (up 43.9%) and United Arab Emirates (up 27.4%).

Those countries that posted declines in their exported gold sales were led by: Hong Kong (down -25.5%), Canada (down -18%), South Africa (down -17.4%), Germany (down -16.8%) and United Kingdom (down -15.4%).

For a comprehensive listing of gold exporters, please see the section Searchable List of Gold Exporting Countries below.
— Read on www.worldstopexports.com/gold-exports-country/