Highlights: Trump’s speech from Davos as he comments on crypto and tariffs

• Repeats talking points about a ‘golden age’ and ‘revolution of common sense’
• Biden totally lost control
• Total gov’t spending is $1.5 trillion higher than projected when I left office
• “It was the highest inflation in the history of our country”
• I terminated the “green new scam”
• We’re going to let people buy the car they want to buy
• The US has the largest amount of oil of any country on earth and we’re going to use it
• We will be the world capital of AI and crypto

Bitcoin rallied on his comment about being the world capital of crypto.

• Congress will pass the largest tax cut in American history
• If you don’t make your product in America, you will pay a tariff
• Economic conference is soaring like we’ve never seen
• I’m going to ask Saudi Arabia and OPEC to bring down the price of oil
• If the price of oil came down, the Russia-Ukraine war will end immediately
• With oil prices down, I will be asking that interest rates drop immediately
• I’m going to ask all NATO nations to increase defense spending to 5%

The comment on tariff sounded like he’s set on it.

The oil comments are hard to square as dropping the price of oil certainly isn’t going to incentivize more US production. In any case, oil prices have fallen about 35 cents on the headline.

This article was written by Adam Button at www.forexlive.com.