Is a US dollar devaluation imminent?
President Trump took to Twitter today to apparently confess he’s a “Weak Dollar Guy” once again.
First, however, recall that President Trump was a “Strong Dollar Guy” less than one month ago:
…and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Interestingly, there is no mention of gold, even though we have 8000+ tons of the yellow metal on our books.
Many people do not think the gold is there.
Regardless, hours ago, President Trump just proclaimed he’s not thrilled with our dollar:
As your President, one would think that I would be thrilled with our very strong dollar. I am not! The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing,…..
— Donald J. Trump (@realDonaldTrump) August 8, 2019
Interestingly, there is no mention of the Exchange Stabilization Fund, even though President Trump can directly intervene in the foreign currency markets, or any market he wants to, for any reason, which I’m sure is already continuously taking place non-stop, ’round-the-clock.
On Monday the US Treasury declared currency war on China.
Today, Trump implicitly declares our “weak dollar policy”.
The writing on the wall is clear as day for all to see.
The US dollar is about to get a whole lot weaker.
But what can the US dollar weaken against?
When all the word’s currencies are fiat?
They’re irredeemably debt-based?
And they’re going up in flames?
As to the questions at hand.
I’ll hand-you the answer.
It is gold and silver.
That is what.
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.