Why do you think the government wants this money held in an IRA-style structure instead of simply giving families direct ownership and control?

Doug Casey: My understanding is that once the money goes into the Trump account, it can't be withdrawn at all until January 1 of the year the child turns 18. Then it's treated like a regular IRA. With exceptions for education or the purchase of a first house. 60 years hence, it's supposed to be tax-free. But 60 years is a long time, especially when it comes to government programs. We don't even know if the US will exist in its present form 60 years from now. Forget about the dollar; it definitely won't exist in its present form.

In any event, it appears that six million kids have been signed up so far. About 1.4 million newborns will get the $1,000 grant from the government.

A lot of money is going into the program from employers, who can tax-deduct up to $2,500 per year for the kids of their employees. Michael Dell has given about $6 billion to be dispensed over the next two years for up to 25 million kids.

One selling point of the program is that it might give poor kids a leg up. But will their poor parents know enough, or care enough, to even open an account for them?

International Man: The accounts are designed to invest in low-cost US stock index funds. Is this another way to herd future generations into propping up Wall Street, overvalued stocks, and the US dollar system?

Doug Casey: Well, saving in any way is good. But the problem is that $1,000 government grants to qualified kids don't represent saved production.

The $1,000 is fiat, inflated credit, created out of thin air. That's always destructive—no exceptions. And the money, whether it's real saved production or funny money, is not being directed toward financing new businesses. It's buying stocks in the after-market. That may help kids who have Trump Accounts, but the money is just being added to the massive casino that Wall Street has become. Wall Street certainly likes the idea, since it will direct more money into the stock market and into funds that pay management fees and commissions.

Bear in mind that, by absolutely every parameter, the stock market is far above past historic peaks—including 1929 and 2000. And if stocks crash, it's going to discourage people from adding to their kids' accounts. The public, perversely, only likes to buy after the market has established a "good track record", which is to say when it's high. They won't want to know stocks even exist at the very times they should be buying in the years to come.

I'm sure Trump wishes all the kids well. But I suspect that Trump, egomaniacal narcissist that he is, has instituted these accounts mainly to put his name on yet another aspect of the government.