Other POV : one of the side effect of the Ukraine invasion, it's now possible for countries to buy oil in other currencies than USD. (1)
Because of this, USD 's power is fading and its value slowly plummeting.
One way to limit damages that could come with a weak $ is for the USA to bring back manufacturing capacities.
That could be why Biden already put some protectionist measure in place in 2024. (2)
Yes Trump is who he is, but I think the tariffs stuff is part smoke and mirrors to hide that inconvenient truth.
Or as the Super cool ski instructor might say : "If your money is weak and you rely on foreign countries for the majority of your physical stuff, you gonna have a bad time."
> Other POV : one of the side effect of the Ukraine invasion, it's now possible for countries to buy oil in other currencies than USD. (1)
I do not know why you're downvoted but I have listened to some very intelligent people who seem to focus on long term thinking & they feel the SWIFT action against Russia will end up hurting the US more than it hurt Russia. Some may argue it was inevitable for countries to start pulling away from the dollar but this increased the speed of it. The current taunting & unfriendly relations is exponentially ruining the USD on top of it.
While the odds were very low for the US to continue it's dominance in the world into the next century, it sure seems our lack of leadership in both parties is accelerating our downfall.
Because of this, USD 's power is fading and its value slowly plummeting.
One way to limit damages that could come with a weak $ is for the USA to bring back manufacturing capacities. That could be why Biden already put some protectionist measure in place in 2024. (2)
Yes Trump is who he is, but I think the tariffs stuff is part smoke and mirrors to hide that inconvenient truth.
Or as the Super cool ski instructor might say : "If your money is weak and you rely on foreign countries for the majority of your physical stuff, you gonna have a bad time."
(1) https://www.indiatoday.in/business/story/saudi-arabia-ends-8... (2) https://publicseminar.org/2024/09/bidens-green-protectionism...