Donald Trump Warns Brics Ascension Will Destroy Us Dollar
Date
8/17/2023 2:00:29 PM
(MENAFN- CoinXposure)
In an interview with fox business , former President Donald trump said that the US Dollar is losing its power. This is happening at the same time as the rise of the BRICS, which will peak at the meeting next week. In particular, the economic union of the global south has backed de-dollarization , which could make the buck continue to lose its value.
Due to many economic problems, the 45th US President said,“The country is going to hell.” Then, Trump said the country's power was“waning in terms of our currency.” Saying that the dollar's use around the world could be in danger.
Donald Trump Warns Against BRICS Ascension
In a recent interview, Donald Trump didn't hold back when discussing how the US dollar is losing its power as the brics system grows . The former US president talked about how a falling currency could hurt the country and what would happen if it did.
“Our country is going to hell, and we're not going to be the big boy,” Trump told Fox Business' larry kudlow .“We have power, but it's waning. It's waning in terms of our currency. And I'm not talking about the value of our currency; I'm talking about our currency being used worldwide.”
More Turmoil Amid BRICS Upcoming Meeting
Trump also said the US dollar's loss as the world's primary currency would be“bigger than losing any war.” After that, he talked about how other currencies are becoming more popular worldwide and explicitly stated what China, a member of the BRICS, has done.
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More than just thinking about it, BRICS has made it possible to move away from the dollar. Also, the bloc's annual meeting is coming up in a week , so that it could step up these activities very well.
There is still a chance that BRICS will grow due to the meeting, as countries like Saudi Arabia want to join. If Riyadh joined the union, it could stop using the US dollar to settle trades.
Considering how much oil it sells, this would hurt the dollar's standing worldwide. Backing up what Trump says about how bad the situation with the currency is.
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