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11.01.202115:16 Forex Analysis & Reviews: Political storm is coming to US: Trump's impeachment, split of the Republican party and society

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Exchange Rates 11.01.2021 analysis

On January 11, House Speaker Nancy Pelosi said the House would impeach Donald Trump framing it as an ultimatum to Vice President Mike Pence to invoke the powers of the 25th Amendment to impeach Trump. According to the resolution, Pence must convene and assure the cabinet to enact the 25th amendment to the Constitution, declaring Donald Trump unfit to perform his official duties. Pelosi is also hinting at Trump's mental health. "In protecting our Constitution and our Democracy, we will act with urgency, because this President represents an imminent threat to both. The horror of the ongoing assault on our democracy perpetrated by this President is intensified and so is the immediate need for action," she said. Perhaps Pence is somewhat offended by the president because recently Trump has publicly condemned him for refusing to block the procedure for approving the results of the presidential election in Congress on January 6. At the same time, there were reports in the media stating that Mike Pence might attend the upcoming inauguration of new US President Joe Biden, as well as new Vice President Kamala Harris.

Exchange Rates 11.01.2021 analysis

Notably, members of the House of Representatives and various senators who were loyal to Trump were initially determined to block the acknowledgment of the elections in several states at once. However, we see that Vice President Mike Pence, as well as the leader of the Republican majority in the Senate, Mitch McConnell, and many other members of the House of Representatives, refused to delay the approval of the results of the latest election. After the recent riots of the Capitol, fewer Republicans support Donald Trump.

Trump supporters pressed ahead with their fight to contest election results in Philadelphia and Arizona. However, as for other accusations, almost all snappers refused to sign other proposals. In total, 8 Republican senators out of 51 voted for at least one of the proposals as well as 139 members of the House of Representatives out of 203. So far, these congressmen and senators are still Trump's supporters but it will soon change.

The political elite in the United States is split. But an even deeper split is expected within the Republican party. Trump's supporters already consider Mike Pence a real traitor. If you study the Internet forums with comments left by people who support Trump, many voters are highly disappointed in the Republican Party. Many say they are ready to join any party that Donald Trump creates. Although Trump himself did not speak out about this possibility. Others determine to do everything to stop the so-called tyranny of the Democrats.

Anyway, after the Senate elections in Georgia, Republicans lost the opportunity to influence the decisions made in the government in the next two years. The presence of a majority of the Democratic Party members in both Houses of Congress gives unlimited opportunities to Democrat Joe Biden (for example, to carry out large-scale reforms).

Thanks to the 25th amendment to the Constitution, adopted in the United States in 1967, the current president of the country can be impeached from office due to his disability. Importantly, politicians once tried to remove Trump from office and but the impeachment was not fully implemented. However, now the situation is different as the majority of the ruling elite in the government votes for Trump's removal. If it occurs, the Vice President will become president. The 25th Amendment also allows the president to replace the Vice President.

Exchange Rates 11.01.2021 analysis

According to the statements of House Speaker Nancy Pelosi, if there is no unanimous approval of the document, the House of Representatives will vote on it tomorrow, January 12. Further consideration of impeachment will follow. Democrats are calling on Mike Pence to respond to this resolution within 24 hours. Apparently, the Vice President has to make a very difficult choice. CNN reports that he is likely to accept the resolution. Curiously enough, Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin held informal conversations within their own agencies about the contours of the 25th Amendment to remove Trump from office.

Democrats led by Nancy Pelosi demand that Trump should be removed even before Biden's inauguration, namely on January 7, that is, the day after the storming of the Capitol in Washington. At the same time, it was announced that if Pence refused, the House of Representatives would decide to implement impeachment against Trump. According to yesterday's reports by The Washington Post, Donald Trump, along with his senior adviser Jared Kushner, are in talks with their supporters in Congress to prevent impeachment.

Andreeva Natalya
Analytical expert of InstaForex
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