This week the Financial Times ran a major article headlined “Is the world losing faith in the almighty US dollar?” The answer, in the wake of the fall in the dollar’s value in the midst of the turmoil unleashed by Trump’s tariff war was that it is.

At first, it was just a quiet murmur in relatively isolated sections of the financial press. Today, however, the voices are growing louder: the US dollar could lose its role as the world’s global currency amid the breakdown of all the arrangements and mechanisms of the post-war period under the impact of the US economic war against the world initiated by President Trump.

  • NatakuNox@lemmy.world
    23·
    17 hours ago

    Yup. Trump’s idiocy is going to cost America’s position as the World Reserve currency. Which in all globalized world means D industrialization of your nation unless you heavily invest in the working class. We created this problem and now want the world to buy American, when we don’t make anything of worth.

    • Joeffect@lemmy.world
      1·
      3 hours ago

      I remember when they started to say outsourcing everything was great and how companies moving overseas was awesome for the economy… And blah blah blah… I mean they might have been doing it before but in the 90’s ish is when I remember this happening and thought it was dumb as a child… And here we are today…