Former President Donald Trump recently spoke out on the state of the US dollar, calling it the country’s “greatest defeat” in 200 years. Trump’s comments came after the dollar has weakened under the Biden administration and major currencies like the Euro and the Chinese Yuan have begun to rival the US dollar as the world’s economic marker.
Trump explained that the collapse of the US dollar will take the country away from being a great power, and there will be no defeat like that. The current state of the US dollar raises concerns for the country’s economic future and how it will affect the rest of the world.
Recent moves by China and Russia have also caused concern for the US over a new, more multipolar currency that is less reliant on the US dollar. This shift could have significant implications for global economic stability and the balance of power.
It remains to be seen how the Biden administration will address the current state of the US dollar, but it’s clear that action needs to be taken to prevent further weakening and ensure the country remains a major economic power.