Trump Nominates Fox News Host Pete Hegseth for Secretary of Defense

President-elect Donald Trump nominated Fox News host Pete Hegseth to serve as his Secretary of Defense, hailing him as a champion of his “peace through strength” policy.

Trump announced his nomination of Hegseth on Tuesday, touting his career accomplishments, including his military service and his advocacy for veterans.

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“Pete is tough, smart and a true believer in America First. With Pete at the helm, America’s enemies are on notice — Our Military will be Great Again, and America will Never Back Down. Pete is a graduate of Princeton University, and has a Graduate Degree from Harvard University,” said Trump. “He is an Army Combat Veteran who did tours in Guantanamo Bay, Iraq, and Afghanistan. For his actions on the battlefield, he was decorated with two Bronze Stars, as well as a Combat Infantryman’s Badge.”

Trump then touted Hegseth’s advocacy for veterans and their treatment at the hands of government bureaucracy.

“Pete has been a host at FOX News for eight years, where he used that platform to fight for our Military and Veterans. Pete’s recent book, ‘The War on Warriors,’ spent nine weeks on the New York Times best-sellers list, including two weeks at NUMBER ONE,” he said.

“The book reveals the leftwing betrayal of our Warriors, and how we must return our Military to meritocracy, lethality, accountability, and excellence,” he added. “Pete has also led two Veterans Advocacy organizations, leading the fight for our Warriors, and our great Veterans. Nobody fights harder for the Troops, and Pete will be a courageous and patriotic champion of our ‘Peace through Strength’ policy.”

Being neither a general nor a Washington, DC, insider, Hegseth makes for a bold, new direction for the president-elect. As noted by USA Today, Trump’s early picks to fill out his administration “have largely been mainstream GOP figures with considerable government experience. In elevating a conservative TV personality to his Cabinet, Trump is stepping outside the traditional mold for government service.”

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Originally Posted At www.breitbart.com

What is the Gold-to-Oil Ratio?

The gold-to-oil ratio expresses the price relationship between gold and West Texas Intermediate (WTI) crude oil. WTI is a grade of crude oil and one of the three primary benchmarks for oil pricing, along with Brent and Dubai Crude.

A high ratio indicates that gold is relatively expensive compared to WTI crude oil, and vice versa. This can indicate periods of outsized demand for energy in the form of crude oil, or periods of monetary uncertainty when there is higher demand for gold.

Below is the gold-to-oil ratio every decade between 1946 and 2024.

During the 1950s and 1960s, fixed gold prices and stable oil prices kept the ratio between 11 and 13 for 20 years.

Since the 1980s, the ratio has typically traded within the range of 6 to 40 with a notable exception: in 2020 when the ratio reached a high of 91.1. The peak in 2020 was driven by COVID-19, which boosted gold prices as a safe haven while oil demand and prices plummeted due to global lockdowns.

In contrast, between 2000 and 2008, oil prices were relatively high compared to gold. During this period, the ratio dropped to nearly 6 but never rose above 16.

When comparing the two commodities, it’s worth remembering that the crude oil market is around 10 times larger than that of gold, making it the largest commodity market in the world.

If you enjoyed this graphic, make sure to check out this graphic that shows the top countries by natural resource value.