Because if the U.S. is now almost totally hijacked by Putin’s agents and collaborators thereof, the U.S. dollar is no more trustworthy than a ruble that was crashing until the Russian central bank started spending down its FX reserve to prop it up (and was 6-12mo from running out).
Twitler wants a weaker dollar probably bc someone working for Putin was told to tell him it will help the economy by bringing manufacturers home thus increasing manufacturing jobs.
That assumes there’s no tariff-driven trade war & that newer factories will not be almost exclusively automated.
The destruction of workers’ unions is the most important step in the process of oligarchic take over. They want us to fight over scraps when we should be collectively demanding fair wages and benefits. It has been a class war always.
All the people who said, Trump makes my 401K go up. All the bankers, traders, PE firms, crypto bros, company owners, ‘business experts’ who voted for more money over equity and women’s rights…hope your choice is paying off
Economy is crashing, MAGA hillbillies will have to pay more for Walmart shit, farmers are totally fucked cause all the staff just didn’t show up and the fertilizer they need to grow their food just got cut off or is now gonna eat up all the profits. 😂. Good news is you can still fuck your sister 😘
MAGA:"President Trump's playen 4K ultra high definition 49 level multi dimensional chess and is so many moves ahead it seems like he's just making shit up and going backward."
Well, Trump wants a war with Canada. Who does that benefit? Putin. That's it. Russia. That's it. Who is going to take their oath seriously and end this shit before thousands of innocent people are killed here for the benefit of Russia.
I haven’t seen one republican man in the party of the GQP stand up to Trump knowing he is doing wrong. They have all said it before, but now they’ve all just cowarded down like sheep and that’s what they are the little sheep following him around no thoughts of their own brainwashed!
The dollar is overvalued compared to currencies used by trade rivals such as China and Europe. A weaker dollar would make imports more expensive for Americans and make U.S. exports more attractive on global markets.
It went down 4 cents against the Euro and is the same as it was in November. Now, you can call that "crashing" if you want, but it just seems like you are a bit too worked up over it.
For Bricks to have a chance the Dollar must tank - Everything Trump does seems to benefit Moscow. That its because of stupidity, narcissism and dementia seems less and less likely
What if they were planning to buy a lot of farm land?
Could they make farms expensive to run and cheap to buy, destabilise and crash the market to buy them all up?
Bill Gates is one of the largest landowners in America due to the farmland he has been acquiring.
I'm not convinced China aren't as involved in this as Russia are, Russia, China and South Africa are all BRICS countries after all, all the soft power America has been losing with Musks actions is being picked up by China.
They are so disgusted at this mess we have that they don’t want to buy from us at any price. Our $ was strong because they held investments in US$. We are no longer a trusted partner to invest in. Unless you are Russian. 😳
Republicans,how are your eggs doing?Mine are nine dollars a dozen. You idiots put this guy in office and I hold everyone of you responsible for our country tanking due to your ignorance.The fact that you didn’t check you just believed everything he told you.🫵 deserve everything you get.
This has a long way to fall yet. There is an enormous amount of new USD supply coming to the market in debt to fund the deficit and with a weakening economy the fundamentals are not positive. A weaker USD will also mean higher persistent inflation (even if we are in a non tariff day of the week)
And dismantling the FDIC they up that crypto safety net with the help of none other than Jared Kushner.. seems like they're expecting a run on the banks huh?.. almost like they're trying to destroy or discontinue physical money and go all digital and have it all controlled on one site called X
The only thing backing the USD is the faith in a prosperous US economic future. It's interesting that the decreasing faith will actually determine the US future as a result of this feedback loop. For most of post WW2 the prospects have been good, the US has become used to this.
But that is also what Trump admin wants, I’ve heard. This will depreciate the value of the US debt abroad and make them more competitive…. On the other hand if like everything they do, the approach is too radical, the US could well lose the power of dollar as international trade currency
The billionaire tax cuts they want to pass are only tenable if the US plans to default on its foreign debt obligations, even with the other spending cuts they’re trying to pass.
Very alarming if true!! Dictator Nayib Bukele of El Salvador has brainwashed them about BTC which is what they use as one of their currency. Highly problematic for the whole world.
If US Treasuries tank at the same time. 33% are owned by foreign governments to hedge their reserves of US$. When US$ AND Treasuries tank, the dollar ceases to be the international reserve currency and things get really interesting.
The rich assholes are doing this to get everyone to invest in bitcoin crap....just fire the orange turds administration and and the dollar would quickly rise again!
(At the moment short bonds are down, but those longer than a presidential term are up, meaning there is faith business as usual will resume after Trump.)
There go your dreams of owning a home, going on vacation, sending your kid to college, helping your elderly parents, retiring…don’t worry, you can always live vicariously through the billionaires as they pocket your dreams.
Not shocking, but that's more of a correction than a crash. It's still above where it was when it artificially inflated by TFG doing illegal shit between the election and the inauguration.
Comments
While dangerously close to expanding inflation, a weaker dollar makes U.S.-made goods more attractive to foreign buyers.
It stimulates foreign tourism to the U.S. as it’s cheaper to visit.
🤔 Unless they boycott.
That assumes there’s no tariff-driven trade war & that newer factories will not be almost exclusively automated.
For his plan to work he’d have to completely crash the economy to the point where people will take any job at any wage.
He’d be strung up by his toes b4 that happens.
Grapes of Wrath
- John Steinbeck
Rather, it is labor unions.
Both Twitler & Puttie are playing an old game they’ll inevitably lose; treating workers like a commodity.
Like “human capital”.
https://youtu.be/HcaPvCLue7g?si=HpWHmSLYfbxk9vdp
I predict the conversion of our base currency to crypto in less than 6 momths
GOP = sideways and down, weak dollar = more demand for export. The value of the dollar gets moved into oil, nat gas, or whatever they push.
At this point we can safely say we have three presidents. Putin/musk/trump
We can only hope putin dies laughing.
Why do you think Warren Buffett has his largest cash holding in decades?
It makes no sense, it will add to inflation.
https://foreignpolicy.com/2024/07/03/trump-economy-dollar-inflation-election/
They go shopping!
Could they make farms expensive to run and cheap to buy, destabilise and crash the market to buy them all up?
Bill Gates is one of the largest landowners in America due to the farmland he has been acquiring.
Maybe its all about land now.
Lowering the currency’s value makes imports more expensive and exports cheaper, thus utilizing market forces to reduce the trade deficit.
And then countries will switch to another hard currency - possibly the Euro, because it already covers so many countries.
They got Trump!
All of this could have been avoided years, ago... I can't get over that. 🤦
The world is catching on.
It is not excellent. It should horrify you. Right now, a lot of the world STILL runs on stocks backed by the USD.
This isn't good for ANYONE.
Anyway…..
They had their shot.
Elbows up