Trump advisers may deliberately devalue the dollar if he’s re-elected, report says
Trump advisers may deliberately devalue the dollar if he’s re-elected, report says
Top advisers said to be ‘actively debating’ move in order to bolster US exports
Note to self: While I'm shockingly well positioned for this, make sure to liquidate government bonds if the Cheeto gets back in.
Curiosity point: What will the magas who complain that Biden is personally responsible for the inflation from COVID have to say when we get to pre war Germany levels of hyperinflation?
They'll blame Obama, of course.
Doesn't matter, if Trump gets elected he and the gop will fuck everything up. Then the republican voters get bored and don't turn out for an election, and the democrats are upset so they turn out in droves we get a democratic house, senate and white house. The democrats start fixing everything.
Republicans start screaming about guns or bibles or gays. Their voters get upset and democratic voters are complacent because everything is going well.
Midterm Republicans take either house or senate and proceed to hinder everything they can ....
Progressive voters need to vote at every election for everything from school board to Whitehouse. If there are no democratic candidates vote for the closest thing you can find .
But MuH FrEe MaRKeT!!!!!
This is the best summary I could come up with:
A second Donald Trump administration could unilaterally devalue the US dollar, the de facto reserve currency used across much of the world as a lynchpin in the global financial system.
According to Politico, Mr Trump’s crop of economic advisers is “actively debating” how to devalue the dollar to bolster American exports, even at at the expense of the dollar’s status as a reserve currency and despite the risk that a devalued dollar could pour gasoline on inflationary fires that President Joe Biden has been trying to quell during his term in the White House.
One source told Politico that “currency revaluation” would “likely be a priority” for some of Mr Trump’s top aides if he and they are returned to the White House after this year’s presidential election.
But at the same time, that boost to exports could come at the expense of the domestic economy by sending inflation rising while potentially having global effects by inviting retaliatory devaluations by aggrieved US trade partners.
Devaluation could also be a relief to many of the authoritarian leaders and regimes Mr Trump professes to admire, as it would threaten the dollar’s reserve currency status and make it much harder for the US to use economic sanctions on countries such as Iran, Russia and China.
“Lighthizer brought that up all the time because he felt like tariffs weren’t enough to achieve the objective” of rebalancing trade with the rest of the world,” said the official, who added that then-Treasury Secretary Steven Mnuchin refused to consider it.
The original article contains 396 words, the summary contains 253 words. Saved 36%. I'm a bot and I'm open source!
Makes me glad that I hold as few US dollars as possible and hold debt in US dollars so that my assets will become more valuable and pay off my debts easier when the dollar inflates to death. Also, the dollar is deliberately devalued every single year since 1971.