President Trump Torpedoed Steve Bannon

President Trump Torpedoed Steve Bannon

President Trump Torpedoed Steve Bannon

As I said earlier today in this column, Steve Bannon cannot win in a dust-up with President Trump.

Steve Bannon’s Key financial backer, conservative donor Rebekah Mercer, cut ties with him Thursday shortly after she spoke by phone with President Donald Trump.

The rebuke from a former close ally of Mr. Bannon shows the deepening rift between President Trump and his former chief strategist following release of excerpts from a book by author Michael Wolff in which Mr. Bannon is quoted criticizing the President and insulting The Trump Family.

Ms. Mercer and her father, billionaire Robert Mercer, former co-CEO of the hedge fund Renaissance Technologies, are among the the most important financial supporters of conservative Republican causes and a Key source of Mr. Bannon’s former influence.

Rebekah Mercer and President Trump spoke by phone Thursday afternoon. Shortly afterward, Ms Mercer issued the following statement: “I support President Trump and the platform upon which he was elected,” Mercer said in the statement. “My family and I have not communicated with Steve Bannon in many months and have provided no financial support to his political agenda, nor do we support his recent actions and statements.”

In the years leading up to the Y 2016 election, Mr. Bannon became a close political adviser to the Mercers and directed their wealth to a series of interlocking projects that advanced his populist brand of politics.

Their family foundation funded another Bannon Project, the Y 2015 book “Clinton Cash,” which presaged Trump’s “Crooked Hillary” label; and they invested in Cambridge Analytica, a data firm Donald Trump used to target voters in the race’s final months.

President Trump denounced his former strategist, who he sacked in August, hours after The Guardian published the first excerpts from Woolf’s book, “Fire and Fury,” Wednesday. “When he was fired, he not only lost his job, he lost his mind,” President Trump said in a statement.

President Trump’s lawyers later sent Mr. Bannon a cease-and-desist letter, threatening legal action and accusing him of violating a non-disclosure agreement.

Our President’s legal team also demanded that Wolff’s publisher, Henry Holt and Co., stop distribution, which had been scheduled to begin next week. Instead, the company moved up publication to Friday.

So far, Steve Bannon is still at Breitbart News according to its website.

But, we can expect Robert Mercer is sell Breitbart News after he sacks Steve Bannon.

Stay tuned…

 

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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