Donald Trump: The Dollar Will Soon no Longer be the World Standart
Former US president Donald Trump has voiced his concerns about the unprecedented diminishing strength of the dollar.
The Republican stated during a press conference in West Palm Beach, Florida, that the dollar’s status as a global reserve currency is in jeopardy. He also said that this is the most significant loss for America in the last 200 years.
According to Trump, the US dollar will soon cease to be the world’s reserve currency which will hinder the United States’ position as a leading economic power.
More and more people are discussing how the USD is at odds with most economic leaders, such as China, which is seeking to liberate itself from the currency.
The countries from BRICS recently announced they will create a currency, most likely backed by gold, to try and dethrone the dollar.
READ MORE: ‘Great Depression-Style’ Crash in Near Future, Expert Predicts
In an interview at the beginning of April, French president Emmanuel Macron suggested that Europe should work towards reducing its reliance on the US dollar amidst escalating tensions between China and the United States.
He warns that if a conflict were to arise, Europe would not have the time or resources to maintain its strategic autonomy and would become subservient to one of the superpowers.
As per a spokesperson from the Ministry of Foreign Affairs of China, the financial and foreign strategies of the United States are resulting in an uneven global financial system that may cause unpredictability.
For a long time, the US currency has been the primary player in global trade and the international monetary system. Nevertheless, current initiatives have been aimed at reducing the world’s dependence on the dollar.
At the current speed and global developments, only time and patience can tell the direction in which the new world order will unfold. One thing is certain: decentralized finance, which is beyond the control of governments, will be a most welcome savior.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
