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Possible Future Colleague of Trump: David Lammy, a Close Associate of Obama

David Lammy, a prominent British politician with deep ties to the United States, is poised to become Britain’s foreign secretary if the Labour Party wins the upcoming election, as current polls indicate. Lammy’s background as the son of Guyanese immigrants, growing up in working-class London, and his experiences working at Con Edison in Brooklyn and Queens, as well as earning a master’s degree from Harvard Law School, have shaped his unique perspective on international relations.

One of Lammy’s notable connections is his friendship with former U.S. President Barack Obama, whom he supported during his initial presidential campaign. This close relationship has allowed Lammy to establish a wide network of contacts within the Democratic Party in the United States, which could prove valuable in his future role as foreign secretary.

Despite his strong ties to the Democrats, Lammy is now facing the challenge of navigating a potentially hostile American political landscape, particularly with the resurgence of Donald Trump in U.S. politics. As he prepares for a potential leadership role in international diplomacy, Lammy is actively working to establish connections with Republican officials and those associated with the Trump administration.

In a recent interview, Lammy expressed his willingness to engage with a diverse range of American political figures, including those aligned with Trump. He has already met with former Trump officials like Mike Pompeo and Robert C. O’Brien, as well as cultivated a relationship with Senator J.D. Vance, an Ohio Republican and vocal Trump supporter. Despite their political differences, Lammy and Vance found common ground in their shared personal backgrounds, which include challenging upbringings.

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Lammy’s ability to build bridges across the political spectrum reflects his belief in the power of personal relationships and pragmatic politics. His interactions with influential figures like Obama and Rhodes have prepared him for potentially complex diplomatic scenarios in the international arena. Lammy’s optimism and determination to engage with diverse voices demonstrate his commitment to fostering positive relationships on a global scale.

As Lammy prepares for a potential role as Britain’s foreign secretary, he faces the challenge of navigating shifting trans-Atlantic relations and complex geopolitical dynamics. His focus on building security ties with the European Union post-Brexit reflects a strategic approach grounded in what he terms “progressive realism.” Lammy’s emphasis on rebuilding trust with European partners highlights the importance of collaborative diplomacy in an increasingly competitive global landscape.

While the United States and Britain share common interests in areas like the Middle East, differences in strategic priorities may require careful navigation in future diplomatic engagements. As Lammy considers the possibility of a Labour government and the implications for international relations, he remains committed to promoting dialogue and cooperation among key stakeholders.

With his background as a descendant of enslaved people, Lammy brings a unique perspective to the foreign policy arena, emphasizing the importance of addressing historical injustices and promoting racial justice on a global scale. His potential appointment as foreign secretary represents a significant milestone in British political history, reflecting the progress toward greater diversity and inclusion in leadership roles.

As Lammy prepares to potentially assume a prominent position on the world stage, his commitment to forging strong international partnerships and advocating for progressive policies underscores his vision for a more connected and equitable global community. By leveraging his personal experiences and diplomatic acumen, Lammy has the opportunity to make a lasting impact on international relations and contribute to a more inclusive and collaborative approach to global challenges.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.