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Frank Trotter: Banker Says That USD is Likely To Decline Against Other Currencies & Gold

Frank Trotter is the Vice President of Everbank, which is an exceptional bank because members can hold different currencies in their accounts. In this interview, he gives his picks on the best currencies to hold at this time, which are largely currencies from commodity rich countries. At Everbank, they think the dollar’s strong trend against other currencies is likely at, or close to an end.

The decline of the US dollar may be slightly delayed by the likely .25% FED rate hike in December of this year, which may temporarily bump up the US Dollar. The fact that the Euro hasn’t gone down from the beginning of the year suggests that people are largely done using US dollars as a safe haven, and will probably start investing in other currencies.

On a worldwide scale, Frank thinks baseline inflation will continue to pick up a little bit, but not get out of control. To get hyperinflation, it requires more lending from the private sector- which means more confidence in business and personal lending. Debt level in governments has been substantial but is not a big enough percentage to cause hyperinflation.

As for gold- since 2000 it has outperformed all other asset classes except for some of the smallest ones. This is likely to continue, especially in a low interest rate environment. Gold appeal is broadening again, and it should continue to firm up but probably wont go to the moon unless there is a crisis that drives it there.

Talking Points From This Week’s Show:
• Negative Rate Bonds are on their way up to 30 trillion worldwide
• Using Bitcoin is a great way to avoid money transfer fees
• If Clinton wins, the senate and congress will be deadlocked
• If Trump wins, much of his policies are unknown

Frank Trotter has served as an Executive Vice President of EverBank Financial Corp since 2009 and as an Executive Vice President of EverBank since 2002. Additionally, he serves as Chairman of EverBank Global Markets, EverBank’s family of investing alternatives and was a founding partner of everbank.com, a national branchless bank that was acquired by the current EverBank in 2002. Mr. Trotter previously served as President of EverBank Direct, EverBank’s consumer direct distribution channel, Senior Vice President and Managing Director of Mercantile Bank Capital Markets and Director of the International Markets Division at Mark Twain Banks, where he created the WorldCurrency® family of deposits. Mr. Trotter has over 35 years of experience in the banking industry and received a B.A. from St. Olaf College and an M.B.A. from Washington University.

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