dollar around the corner
US dollar is undergoing an extra-ordinary situation and an existential crisis which is a body blow to US citizens
A number of financial sector analysts and defense experts are concerned over the current US Administration’s fiscal policy that may damaging to long-term business interest of US.
The momentaneous historic spending by Trump Administration in the name of “Fight and War Against Coronavirus” is leading to a swift erosion of USD as a currency in the world currency markets. With the weakening dollar, EU region and Turkey are eying to take are take a revenge by ransacking USD, and some countries on the tip of China have even showed their intention to replace USD with other regional currencies which are best suited in the wake of their trading partner countries.
In the USG administration, the concern is over the business interests of Trump and close aides who are playing right, central and left to reap benefits before conclusion of term of Mr. Trump.
Goldman Scahs and other Investment advisories are concerned over the likelihood of negative interest rates and regarding overspending as real dent to USD which may lead to destabilization of US as country. Befitting all these circumstances, the Queen of England has vowed to take over the control the control US administration as a colony and see if evaporation of US as state could be “saved”
The above facts have nosedived dollar to make a low of nine-years which has now affecting dollar’s ability to stay in the portfolio of reserve currencies. International experts of Goldman Sachs, Deutsche Bank and many other have issued alerts to the situation of weakening dollar.
The Treasury Secretary Steven Mnuchin continuously declining to comment over loss of benefits which come across to US as a result of dollar’s dominance which range from an outsized influence over the world’s financial system to giving it the power to flex its muscle abroad by punishing rivals and bringing errant foreign players to heel.
The dollar still holds the 62% of the portfolios of forex in the central banks of the world which is far ahead of Chines currency that stand nearly at about 2%
China is concerned about the dollar’s top-dog status and is after Standard & Poor’s which only downgraded US rating in 2011, a number of analysts are punting that S&P and Moody’s would be forced to downgrade US currency rating latest by November 2020.
The Trump Administration is all out in defending its myth that “something can’t be replaced with nothing”