Dollar drops against basket of currencies after Donald Trump brushed off concerns over slide
The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.
The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.
“No, I think it’s great,” Trump said of the weaker dollar, during a visit to Iowa to promote his record on the economy. Asked whether he was concerned about the currency’s slide, he told reporters: “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”
The greenback has tumbled by 10% over the past year, while Tuesday’s fall was the largest one-day drop since last April, when Trump announced his sweeping tariff plans, marking a global market sell-off.
This is by design and part of Project 2026.
Yeah he literally mentioned wanting to devalue the currency multiple times during his campaign.
For what purpose?
It encourages foreign divestment which is good if you are in the crowd that thinks that trade is bad.
It also leads directly to rapid inflation as those dollars once used for trade are now sitting idle in the money pool. Rapid inflation is good if you own monopolies on essential goods like housing, fuel, groceries, and medical care as it provides cover for you to raise prices and decrease quality.
Also, with rapid inflation it becomes easier to hide graft and extortion in the government and maybe go after people like Powell for cost overruns on projects that could never have predicted that you would tank the economy.
Also…
Gold. It won’t be repatriated to foreign countries.
Oil. Once that market is cornered (and green alternatives killed) you own the economy.
Thanks for the response. So what does an individual do in response to impending inflation? Convert money to assets? Convert to a different currency?
I have been converting to another currency, every penny I can
Is it crypto?
There are several. US debt is then worth less. Exporting things becomes easier because they cost less. In theory we could get more tourists because it would cost less to vacation here.
But an unstable dollar means the percentage we return on bonds must be higher, importing things costs more, which affects (and affects) inflation. Travelling overseas costs us more. Finally, reduces American power in the world.
It will also shake confidence in the US as safe, which could affect our ability to borrow. Which is a good thing if we can’t get rid of these clowns it’s going to happen it’s just a matter of when they max out the credit and destroy the trust then print money to pay off the debt and cause runaway inflation.
To shrink the gap between prisoner and worker.
Trump’s Misguided Plan to Weaken the Dollar | Harvard Kennedy School https://share.google/rpR1rqUVOa7OpbTx6
try and make US goods sellable, but then he triggered counter tariffs and boycotts.
Gold has reached the highest valuation in decades. It’s a sign people are moving away from the dollar as a store of wealth. The US hegemony is failing and China is picking up the slack. I hope the middle powers can unite as a single economic block and bring some stability. Trump is in his Nero phase.
Honestly at this rate gold looks to be more in a bubble or unstable climb then anything.
The moment shit hits the fan the people start to unload in droves gold is goanna get fucked.
It’s far too many eggs in one basket.
Likely as not, yes it’ll be a bubble, once they move to a different currency than the dollar they’ll sell off gold to purchase it.
I’m not an economist and macroeconomics make my eyes gloss over, but I’m sure seeing a lot of economists saying the dollar has less than a year left of being the world reserve currency. This seems like a bad idea… for us…but again I am no economist.
Can’t wait to see how the fiscal conservatives spin this one.
They’ve never been fiscally responsible, it’s only ever been spin and messaging. So you’ll likely see all the same hallmarks they have referenced in the past.
Note that the above article is from a right wing think tank arguing in bad faith and expresses the modern take on fiscal responsibility.
It basically boils down to:
- Social services bad
- military and police spending good
- tax breaks for businesses and the rich is best.
Socialized losses, socialized costs and expenses, private profits. They are fucking communists really. It’s fun to say too.
Yikes, ok I can’t say im surprised, but where did you hear that?
The day trump got elected I wanted to invest in gold. Was going through divorce stuff and finances have been in a wild state since so never got to it. I don’t have regrets on it but could have been nice if I was able to dump a chunk in when I wanted to
Well that’s odd. The tariffs do not seem to be working.
Yes they are. They are working exactly as the people in charge want them to. They want a weak dollar and low interest rates because it allows them to get smaller debt payments, and a weak dollar/inflation makes the numbers go up. It’s a risky game though, because demonetization could mean a worthless dollar and a destroyed economy. But again, I wouldn’t be surprised if they want that to because then they can strip it all for parts and sell it off to our enemies. As long as they get richer they don’t give a shit. They will just convert any currency to whatever new safe haven and continue on.
🤣🤣🤣you mean the sundowning musings of a failed reality tv star and convicted sexual predator arent helping make America great again?!
Surprised pikachu face
Lowest level so far
The civil war is on - it’s the rich versus the workers. They have divided the workers and they are being massacred.
I can’t parse this. Does this mean the rich are being massacred or the workers are being massacred?
We ain’t seen nothing yet. Give it more time.
He was right, I’m tired of ‘winning’
I wonder what will happen to the dollar when oil is replaced by batteries
Those damn liberals must be responsible!
They have to acknowledge it’s dropping before they can blame the libruls.
Oh well!! Time to ditch it as the petrodollar currency and for former allies to dump the US debt.
Let’s gooo. I won’t have too much ofy third world money when I wanna buy from Amazon or eBay that way.
Keep sinking
Trump is a moron
