Do you worry President Trump’s sweeping global tariffs lead to the U.S. dollar losing its status as the world’s primary reserve currency?
Do you worry President Trump’s sweeping global tariffs lead to the U.S. dollar losing its status as the world’s primary reserve currency?
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Do you worry President Trump’s sweeping global tariffs lead to the U.S. dollar losing its status as the world’s primary reserve currency?
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Probably not. I think it would take more than the current turmoil. Our economy and wealth as a nation is still unrivaled.
Yes.
I am not sure if you are aware but China and Russia basically trade in their own currencies now circumventing the petrodollar anyways.
Were already on the down swing, IMO.
I get tutoring from someone in India. When I paid him this week, he said, “Wow, the USD is lower today. What’s happening?” He had not been watching the US news, so he didn’t know what was happening.
It shouldn’t. If anything, it makes the dollar more valuable
Yes along with a very long list of other terrible things
Yes, and it’ll be on the pile of ways that Trump has managed to demolish over a century’s worth of accumulating soft power of the course of 3 months.
I think that’s the goal. Trump has been pretty much promising to make America much poorer for a while now.
we can only hope.
The tariffs aren’t taking place in a vacuum, they’re part of a concerted effort on the part of the administration to force America to relinquish our role as global hegemon and center of gravity for the world economy and replace all that with a much inferior system where the US is just a fickle and unreasonable antagonist to pretty much all of our allies and trading partners. As we’ve already seen, the inevitable response will be for them to rebuild an economic system that doesn’t revolve around us, since we can no longer be relied on. That will be what ultimately causes the dollar to lose reserve status, not the tariffs by themselves.
That’s our main economic advantage and Trump is ensuring we lose it.
Why worry over a sure thing?
Nope, I’m too busy worrying about ending up in a prison in El Salvador
no. I wrote about the dollar hegemony here:
> the receding dominance of the U.S. dollar would be an issue for foreign financial institutions. I do not believe the U.S. dollar is losing its position, either; foreign exchange reserve data suggests diversification among smaller currencies, not against a centralized rival such as the renminbi. Chinese capital controls and its detention of foreign nationals deters business
the U.S. dollar is dominant as a reserve currency because the United States itself has a large economy — though not independently, as evident by China and the European Union — and circular causation. the decline of the dollar as a reserve currency would require a shift in fiscal policy for many governments away from capital controls anchoring their currency to the dollar
I don’t worry about it. It is happening though. America did it to itself.
Yes. This is the nightmare scenario he’s putting the US on the path towards. If it’s no longer the reserve currency nobody is buying US Debt. The economy reduced, the whole thing is unrecognizable. If a big conflict comes along the US can barely finance it with no longer being able to run deficits.