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The dollar's predicted demise: Donald Trump worries about the fall of the United States

Mon 21 Aug 2023 ▪ 4 min of reading ▪ by Luc Jose A.
Getting informed ▪ Payment

According to many experts, the American currency may not be around much longer. Long the dominant force on the global money market, the dollar may now be doomed to certain death. Many American politicians scoff at the idea, rather than believing it. But former President Donald Trump is taking the prospect very seriously, and is sounding the alarm.

A crossed U.S. dollar bill

Donald Trump sees de-dollarization as a serious threat

The announced end of the US dollar is not new information in itself. The news has been making the headlines in the media and among experts for several months. Some American specialists who have spoken out on the subject are highly skeptical about its relevance.

Former U.S. President Donald Trump does not share this skepticism. The former leader takes the threat very seriously. Speaking recently on the subject, the billionaire sounded the alarm about this risk, which has been trivialized by current leaders.

For him, seeing the US dollar overtaken by another currency would be a serious blow to the American economy. The United States could lose all the power that characterizes it simply by this development, which is redrawing world geopolitics.

This, he points out, is what is likely to happen in view of developments around the BRICS countries. And the efforts they are making are cause for concern, if not reflection.

We have to worry, he says, “that some countries will settle their oil supplies in a currency other than the dollar. Countries like France and Russia are doing the same. It’s as if oil has suddenly become the weapon that’s going to finish off the American economy.”

Donald Trump warns about the end of the dollar

Is oil the secret weapon of the US dollar’s destruction?

At least, according to Donald Trump, that’s what the propensity of these countries to pay for their oil supplies in yuan suggests. A dynamic that could gain momentum as the geopolitical landscape changes.

And it’s precisely this worrying mutation that seems to be taking place. We recently learned that Saudi Arabia, along with 40 other countries, has decided to join the BRICS. Many of these countries are oil-rich.

For Donald Trump, this development should set alarm bells ringing among American politicians. For the integration of Saudi Arabia into the BRICS countries would be a monumental slap in the face for the American economy.

Such a prospect means that a substantial share of oil sales could pass under the American nose. Especially if up to 90% of crude sales move away from the US dollar. A projection that could have significant consequences for the United States.

Donald Trump is not the first politician to speak out on the dollar’s predicted demise. Hillary Clinton has also done the same, crying conspiracy against the United States.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.