• NatakuNox@lemmy.world
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    24 hours ago

    Can’t wait until he puts his own yes man in that position. We can take this dumpster fire to 11! Don’t get me wrong. This fed is no ally to the working class, but even that goblin of a person knows cutting interest rates like Trump wants would have the remaining international and local investors pull all their money out of the US dollar. At that point. America as a world leader ends.

    • jonne@infosec.pub
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      1 day ago

      I mean, their stated goal is actually to devalue the dollar so exports are more attractive. Of course, that also means importing becomes more expensive, and China makes everything, so there’s no way people are going to be happy about that.

      • NatakuNox@lemmy.world
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        22 hours ago

        Exports… Export fucking what!? Do people actually think any company that actually manufactures things in America are going to lower their prices?! Making things in America is expensive and won’t be cheap enough soon enough to pivot. Nearly all of our raw materials come from outside the country. And once the US dollar crashes making anything in America will cost more than any other product on the market regardless.

      • ryanee@fedia.io
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        1 day ago

        they also have a huge gold reserve of around 147.3 million ounces of gold (worth around 290 billion USD today) and this administration suspiciously already shown interest in auditing since the inauguration and it hasnt been audited for like at least 50 or 60 years, many of these gold are foreign reserve but its not like they are trustworthy and betraying USA allies on a weekly basis if not on daily basis

        • redsand@lemmy.dbzer0.com
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          11 hours ago

          There is a conspiracy that the gold is gone and has been for some time as well as the idea to liquidate the stock pile to buy crypto. And bonds maybe? Treasury is fucked.

  • Milk_Sheikh@lemmy.dbzer0.com
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    22 hours ago

    This is the line that even at my most cynical, I never thought Trump would go for/be allied to cross - fuck with the money directly. Ruin the bag for the capital class. Tariffs were bad long term but presented an opportunity for huge wealth transfer during that manufactured chaos’s period of ‘creative destruction’:

    He made $2.5 billion, and he made $900 million! That’s not bad!” Trump said, pointing to financial investor Charles Schwab and then NASCAR team owner Roger Penske

    But then again, this loon is who he put forward in his first term, sooo yeah.

    • SupraMario@lemmy.world
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      1 day ago

      Lost 12% since he got into the Whitehouse. It’s going to continue to collapse, wouldn’t be surprised if most of these billionaires have moved chunks of their equity to foreign funds

  • Carrolade@lemmy.world
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    1 day ago

    Ahhh, the Erdogan economic strategy. It’s a bold move, Cotton, let’s see if it pays off for them.