Trump’s Warning About Inflation-What you need to know
In a Larry Kudlow-hosted interview on Fox News, Donald Trump talked about the dedollarization process and the status of the economy.
He voiced worry about the dollar losing its status as the standard currency of the globe and declared, “Our country is going to hell.”
De-dollarization, according to President Trump, is “bigger than losing any war.”
The Japan Times recently reported that the U.S. dollar is utilized in almost “90 percent of foreign exchange transactions.”
After World War II, the U.S. Contributed more than half of the global economic production, but as of now, it barely makes up 25%.
Read More: Trump’s New Plan for 2024
This is attributed to the U.S. government’s ongoing raising of the debt ceiling as well as international policies that involve ineffective sanctions and the freezing or confiscation of assets belonging to other countries.
Concerns have also been raised about the replacement of the dollar with another currency. There isn’t a workable substitute at the moment.
According to Reuters, President Trump is considerably more concerned about the condition of the economy and the dollar now that America’s credit rating has been reduced.
According to him, “We are already reverting to third-world status in many ways.”
Read More: Trump Has Been Telling Us All Along?
President Trump also mentioned how Americans are specifically impacted by inflation. He explained how it raises living expenses for years while holding down pay for workers.
“The people are being hurt very badly,” he stated.
He also noted how inflation destroyed Germany in the 1900s and called it “a country destroyer.”
“It’s not like those prices went down, those prices are now only going up four percent, five percent, six percent, but actually, if you look at energy, your energy’s going up 40 percent and 50 percent, so I don’t even know how they can say that you know uh inflation’s down to four-and-a-half or five percent,” he continued.
Read More: Major Update On Trump’s Irrefutable Evidence Press Conference