President Donald Trump discussed de-dollarization and the state of the economy in an interview on Fox News with Larry Kudlow.
He said, “Our country’s going to hell,” and expressed concerns about the dollar being dropped as the world currency.
President Trump noted that de-dollarization 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.”
While the U.S. made up more than half of the world’s economic output after WWII, it only accounts for 25 percent to date.
This is being blamed on the U.S. government’s continued expansion of the debt ceiling and global policies involving ineffective sanctions and freezing or seizing foreign nations’ assets.
In addition, concerns regarding what currency would replace the dollar have been noted. At present, there is no viable alternative.
Now that America’s credit status has been downgraded, per Reuters, President Trump is even more focused on the state of the economy and the dollar.
He said, “We are already reverting to third-world status in many ways.”
President Trump also noted how inflation is directly affecting Americans. He described how it impacts the cost of living for years while workers’ wages stall.
“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.