US president Donald Trump disagreed the latest comments of his Treasury Secretary and sought for a ‘Strong Dollar’ instead of a weak one.
A day earlier and on the sidelines of Davos Forum where leaders of countries, businesses, and influential person convene to try to come up with a unified vision to shape the world’s economy for the current year, US Secretary of Treasury shook the US currency by a single comment.
“A weak dollar benefits U.S. trade.”~Steven Mnuchin, the Secretary of Treasury, United States of America.
Those 5 words were enough to send the US Dollar plunging to its lowest level in 3 years. Whether this is a plan for the U.S. to prepare the public for the results of the dollar losing its value, a test balloon if you may, doesn’t matter.
The whole world knows the United States of America is printing more of its currency that it can back by anything else but things of value, thus stretching its military might worldwide to keep shoring it. But even that military might is funded by the same dollar!
I’ve written a post just before the news of the dollar rising again on Steemit, a crypto-currency platform backed by people’s contributing with blog posts and video clips in the Dtube alternative to YouTube with very much less censorship based on political opinions. At least something more tangible than what really backs the dollar. In my post I compared the US currency to Bitcoin, the digital currency and their volatility in the markets: Which is More Volatile: USD or BTC?
Smart countries not under the direct occupation of the USA or any of its close allies started, and for a while now, to trade bilaterally with own currencies bypassing the dollar. Every international trade before was going through a US-based bank giving financial value and economic benefits to the US economy.
After the markets craze dumping the dollar, the US president himself, out of arrogance he’s known for, or by some advise from any smart person still around him, tried to stop the deteriorating in the value of his country’s currency and stated he favors a strong dollar.
Again, the most volatile currency started rising but didn’t recover completely. If there’s any proof required that this currency is driven by anything else but something of value, this should be sufficient.
Why Trump wants a stronger dollar? Well, most of the U.S. economy lives on imported cheap goods, a weak dollar could compete only if the US is a major producer, and the only thing it is a major producer is weapons. Some by-products are there like Drugs, but that’s not enough.
But the main reason Trump wants a strong dollar is the fact that financing terrorist groups worldwide and the expanded military presence burns quite a huge amount of dollars every minute, and with a weak dollar that amount will be even more than what the printers can print out of thin air.
Terrorist groups, even those based on a religious motive, fake or whatever, need a great amount of financing. Huge logistics cost, arming, communication devices and connections, spying to define targets, bribes and a lot more very expensive tools. The cost increases the more hostile the targeted zones are.
Another factor that sucks the economy is the ever-growing money hungry Military Industrial Complex, that controls to a very large extent, second to the Political Zionism or part of it, the US decision making and makers. And Trump wants to strengthen the military presence worldwide, isn’t that ‘not’ the election promise he was elected for?!
The questions remain for those still holding on the greenback currency: Is it worth it? For how long? Can you handle the outcomes when the dollar bubble bursts? The US ‘federal’ agencies are preparing to contain their public in the event of the collapse of the dollar, are you? Again, is it worth it?