It goes without saying that this is stupid, and I wonder what set it off. Was there a segment on Fox News? But I thought it might be worth a thread explaining what Trump (and, to be fair, some other international leaders) don't get about international money 1/
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Didn't we see this stupid movie 150 years ago?
Maybe the fact that Brazil will take over the presidency of BRICS bank can make waves, as the next presidential election will be in 2026, but China and Russia have literally nothing to lose
https://www.bloomberg.com/news/articles/2024-12-02/trump-weaponizing-dollar-seen-as-a-needless-brics-provocation
His own MAGA sold him out & the world knows it.
Political commentator Chris Cillizza says Trump’s tariff proposal is likely a negotiating tactic,
https://youtu.be/_SfgtzcafHs?si=FGjTz8vxaiUQ_74H
And we will be left behind with an idiot emporer.
https://bsky.app/profile/pkrugman.bsky.social/post/3lcamkbd35c2j
-Dave Troy
Because? Why?
That came about after WWII, as Europe got destroyed with the war
But you are right. The use of the dollar for loans is a swindle.
🤣
They love to pay for Uncle Sam more every time the dollar dollar rises.
They can't wait to pay more for their loans.
Billionaires bought BTC @ $0.30 and now they’re able to sell them back to the poor for $100K.
Anyone who thinks first-mover advantage in crypto won’t lead to absurd income inequality is a fool.
Using dollar is what’s keeping countries poor, as it’s a never ending debt. It’s like paying mortgage that goes up yearly
US direction in Ukraine & Israel is pushing Russia, China, Iran & North Korea to find common military interests
Eg. Russian defensive weapons stopped a 3-part Israeli offensive, Iranian drones against Ukrainians
The value of the dollar hinges on it being the global note of trade. We can and do print infinite amounts to pay off our debts, because there's infinite demand.
Any alternative is a death sentence.
He loves to present the illusion of strength, couched in stupidity though it is, knowing he will never have to prove it
His intended audience is equally stupid and applauds the “strong man” performance
His regime will be the end of the US if you guys aren't watchful and RESIST.
Illogical.
it was bought and not earned.
Like truly, the point of BRICS is to shift the global scale and not depend so much on the “west”
🤦♂️
"Let's see which ideas work."
FDR said, "...bold, persistent experimentation."
What keeps developing countries poor is the use of the dollar
Imagine if you got a mortgage in a currency that was 6x more expensive than the dollar. +
You won’t, you’ll be perpetually poor.
That’s what the global south has been going through ever since WWII
But I'm not living in a theocratic autocracy.
The US is the world's credit provider, in effect the world's banker. Wall Street lends dollars into existence which cost almost nothing to 'manufacture'. It also creates and trades foreign currencies (via swaps and FX bonds).
Are you paying attention 'Trump'? Humans don't trust erratic fools.
Keeping in mind our marginal fuel supply is paid overseas w/ dollar credit ...
He can easily afford to get whatever he wants in life. The negatives that his tariffs would cause won’t stop goods coming in.
Nobody likes a bully and by expressing publicly, ppl will know exactly who to blame
The only reason the US gets away with so much it’s bc it’s done quietly
He speaks like a 5th grader, this is not that.
https://youtu.be/6v1qNVZmofI
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He's just talking smack to capture the news for himself, string it along for the MAGATs, because they've got no plan, just "stupid" concepts of a plan, other than "you're fired!" and "let's 'rape' the immigrants!".
Seriously. Takes the focus off his
/2
He's picked a fight with everyone. 10+ million people in our midst, maybe representing ~25 million American jobs multipliered-in.
/3
The average voter should feel their sense of security slipping away, into a thousand decisions made daily by those thinking and looking at us / the USA.
/4
Why, he's doing it everyday, angering everybody and praising the uncouth with a parade of the vanities on Pennsylvania Avenue.
/5