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Trump advisers are plotting to deliberately devalue the dollar if he’s re-elected, report says
(www.independent.co.uk)
this post was submitted on 16 Apr 2024
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How would making the dollar weak "make America great again"? That's stupid. The dollar being the worldwide currency is part of what makes America so strong.
It's done from time to time. It's to lower the export value of goods. A country prints a lot more money. Say Almeria wanted to sell more cars to England.
Currently an American car is worth $30,000USD and $30,000USD can also buy 2 motorcycles from England (£24,000) .
If the world is flooded with more USD, then the person from England can still buy the American car for $30,000USD but the American can now only buy 1 English motorcycle, as the value of USD has fallen to British Pounds.
Great if you're English and buying an American car, bad if you're American and want to buy an English motorcycle.
Wouldn't it be the other way around? The American could afford more English products than the English person buying American because the higher dollar meant the other currency rate was lower?
Unless I'm misreading what you said.
The original post was asking about why devaluing the dollar would be good for Americans.
Right. That was my post. So.... ?
The other person is saying that devaluing the US dollar would make it easier for others to buy American products.
I assumed you thought they were talking about strengthening the US dollar, so I pointed out that the original post (yours, I realise now) was talking about devaluation. Not sure why you think devaluation would give greater buying power.