Ben Norton discusses Trump's plan to sanction countries from dedollarizing.
Rather it will speed up the process. But that seems to be capitalism for you, thuggery.
Yeah, I know this is going to get downvoted because it doesn't fit into the mind-set of this group.
I encourage you to listen to the video though before you downvote. Dedollarizing is happening.
Downvoting isn't going to stop it.
by Listen2Wolff
1 comment
Trump talks too much, the monetary system is a complex one, for one if you have a reserve currency, you must supply to the rest of the world, and not many countries are willing to do that, in that sense no country is taking the role of the U.S. this is the Triffin dilemma, what Trump threatens to manipulate the exchange rate by devaluing the dollar is difficult due to the Impossible trinity, if he wants to control the exchange rate like he claims then, he must give up capital flow or Sovereign monetary policy.