“Tomorrow, I’m doing 9/11.”
~ Joe Biden
Written by Bryan Lutz, Editor at Dollarcollapse.com:
While Biden gave us the play-by-handler-play yesterday…
“I will be watching the debate tonight. Tomorrow, I’m doing 9/11. I spoke to the Vice President. She seems calm, cool, and collected. I think she’s going to do great. And I’m not going to tell you what advice I gave her.”
Trump hit all the familiar talking points at last night’s debate. At the same time, playing emergency dollar defense in the background.
His idea: throw 100% tariffs on any de-dollarizing nation.
Bloomberg reports:
Trump Pledges ‘100% Tariff’ for Countries That Shun Dollar
“Donald Trump pledged on Saturday to make it too costly for countries to shift away from using the US dollar, adding a new pillar to his tariff platform.
“You leave the dollar and you’re not doing business with the United States because we are going to put a 100% tariff on your goods,” the Republican presidential nominee said at a rally in the battleground state of Wisconsin…
…While dollar dominance has lessened in recent decades, the US currency still accounted for 59% of official foreign-exchange reserves in the first quarter of 2024, with the euro second at almost 20%, according to the International Monetary Fund.”
Trumps knows what the problem is.
It’s the overwhelming amount of national debt printed over the past several years.
Over $6 Trillion of which was printed during his Presidency, and now he realizes the consequences…
Taxes won’t solve the problem.
And printing more money won’t solve the problem unless you force other nations to use the dollar.
So on he goes with his threats and his posturing because he can’t stop devaluation. All he can do is offer thin promises about things he can only advise as an experiment.
Here’s how international trading works with US.
When other nations trade with the US, they use dollars.
As the US prints more dollars, prices rise… So smaller countries buy more dollars to pay $1.20 for what was once only a $1.
How do those countries buy dollars?
They too must print – devaluing their own currency.
Trump’s tariffs are an experiment that only work in dreams. He knows this, which is why he never hammered on it during the debate.
When countries suffer tariffs they simply raise prices to make their exports more profitable, which raises the prices of all kinds of products within the United States.
Then, in the end, tariffs become a tax on average Americans.
So, Trump can play dollar defense as much as he likes, the consequence of too much debt is devaluation, and this time around…
If he get’s re-elected, someone else won’t be able to pay for it.
