this post was submitted on 09 Sep 2024
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I really hope he does this. It would force countries to choose between G7 and BRICS, and the latter is where pretty much all the manufacturing happens making it indispensable. This would play out exactly the same way as trying to shut Russia out of the global financial system did, but on a far bigger scale.
The mere fact that Trump is floating this idea is an indication of panic as well. If the US wasn't worried then there would be no need to use coercive measure to keep people from fleeing dollar based system. These kinds of mob tactics that will further convince countries that they need to move off the dollar as quickly as possible.
you know whats funny though? the us is winning the currency war, if trump is elected and does this it will the most spectacular shot in the foot of the century.
Proof?
well joe biden, the ghoul he is, has fucked the global south by raising interest rates, so countries owing debt in dollar suddenly have to raise even more money to pay back that debt thus contributing to usage of the dollar. I'm probably skipping over a lot of shit and others have laid it out better than i did, may I add that I'm not happy the US is still extracting value from its monopoly of currency trade, i would love to see that place burn, sadly it seems to me that the dollar is still winning the race.
Sounds like a short-term "win" which will only further cement and worsen the long-term repercussions IMO... the thing is, the changing of the world economic system is not a race, and the more the US cracks the whip to shore up its decline, the more intolerable and totalitarian its economic system becomes, the more the foundations of the system crumble and the resolve of the rest of the world to free themselves from it strengthens.
what really scares me is how short term is understood here, because is it « short term that will eventually crumble within my lifetime » or « short term measured on the scale of a century ». Basically I’m anxious that the US will still own monopoly on currency trade while I’m alive, I’d really like to see what happens when it loses grip and is forced to reckon with competitive currencies that don’t bully and brutalise millions with tarifs and sanctions, actually terrorise is more apt if we’re being real. What I’m curious about though is how much room the ghouls in charge are willing to give to the Cheeto man, they MUST know that doing this is fucking stupid and will utterly destroy the US dollar’s image worldwide, on the other hand there seems to be widespread brain rot and kool aid consumption amongst North American academics and officials so who knows?
I get the feeling that even though it will unfortunately be years, if not decades before the Amerikkkan empire collapses or is destroyed, I think/hope it will come sooner than any of us think.
This seems like one of those "decades' worth of history happens in weeks" moments.
i very much hope so too!