Former President Donald Trump says the US is losing influence on the global stage as more countries distance themselves from the dollar.
In a new interview on the All-In Podcast YouTube channel, Trump explains how tariffs give the US an edge over other countries.
He highlights that tariffs can mitigate the growing trend of de-dollarization or the process of reducing reliance on the US dollar in global trade.
“I happen to be a big believer in tariffs because I think tariffs give you two things. They give you economic gain but they also give you political gain.
If a country is out of control and something having nothing to do with economics or having nothing to do with money coming in or money going out but other things that are very political because there are a lot of other things involved in countries, you have tremendous power over a country.
Now, not everybody can say that, but we can because we are the big piggy bank. But our piggy bank is going to get smaller and smaller all the time because we are losing power. We are losing a lot of countries on the dollar. They are going like flies. If we ever lose that, that’s the equivalent of losing a war.
That would really make us third-world. We have lost so many countries.”
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He is talking the language of a common man. It's just another pre election propoganda, nothing more! Dollar isn't going anywhere. It is king and it will remain so for next 50 years and so. #580082
It may be, or it may be that he has seen dollar data that we don't, the thread you share is about the strength that the dollar still has, and the weakness of the euro, which is true, but 50 years for the dollar seems too long to me, but hey, it can be totally viable.
Can you tell me single major currency that hasn't debased against USD? There's no challenge for dollar currently and there's no currency that's outspeeding it right now.
The article does not mention that there is a currency that is competing with the dollar, so there is a fear of de-dollarization, it is talking about the fact that there are many countries that are abandoning their holdings in dollars and looking for alternatives, this is the de-dollarization it talks about, not a depreciation.
I'm talking about the adoption of another currency as an alternative to USD.
he can save his beloved dollar for a time by backing it with Bitcoin
Do you think any American politician has seriously thought about doing this?
No
The ‘all in podcast’ looks good . I watched it once before. Let’s see how Trump conducts himself. He’s such an entertainer. 😄
Yes! He is a showman, but sometimes, even if he is just another politician, he blurts out quite a few truths.
already several countries including china and Russia has been pushing for de dollarization just to reduce their vulnerability to u.s sanction
Oh Dear... that ship has sailed.