JLW
Diamond Member
- Sep 16, 2012
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The summit between President Trump and China’s top leader, Xi Jinping, in Beijing this week is likely to include tense discussions about tariffs, Taiwan, Iran and sanctions. But simmering below the surface is another battle between the United States and China: an intensifying currency war.
Concerns about America’s mounting debt load and its aggressive use of sanctions to cut adversaries off from the Western financial system have raised doubts about the safety of the dollar as the world’s reserve currency. Those fears have led to growing demand for gold and increasing numbers of oil transactions using cryptocurrencies or China’s currency, the renminbi. An erosion of the dollar’s dominance would be a problem for the U.S. economy....
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Is this any surprise? Trump has declared economic war against the world and the world is responding. The countries of the world are looking at the renminbi, cryptocurrency and the Euro as well, as potential dollar substitutes. China sees US weakness and now is taking advantage of it. The dollar continuing as the world's reserve currency is in serious doubt because of Trump's economic and hot wars. Trump has done more to increase Chinese influence while simultaneously decreasing US standing in the world than any other president before him. The world does not want to be beholden to an increasingly erratic and rogue USA. Trump has offended our allies and foes alike. Elect a fool expect foolish decisions.
Concerns about America’s mounting debt load and its aggressive use of sanctions to cut adversaries off from the Western financial system have raised doubts about the safety of the dollar as the world’s reserve currency. Those fears have led to growing demand for gold and increasing numbers of oil transactions using cryptocurrencies or China’s currency, the renminbi. An erosion of the dollar’s dominance would be a problem for the U.S. economy....
*****************************************************************
Is this any surprise? Trump has declared economic war against the world and the world is responding. The countries of the world are looking at the renminbi, cryptocurrency and the Euro as well, as potential dollar substitutes. China sees US weakness and now is taking advantage of it. The dollar continuing as the world's reserve currency is in serious doubt because of Trump's economic and hot wars. Trump has done more to increase Chinese influence while simultaneously decreasing US standing in the world than any other president before him. The world does not want to be beholden to an increasingly erratic and rogue USA. Trump has offended our allies and foes alike. Elect a fool expect foolish decisions.
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