Posted on 11/30/2024 11:02:21 AM PST by marcusmaximus
President-elect Trump on Saturday threatened to impose 100% tariffs against emerging markets that try to shift away from the U.S. dollar in international trade.
Why it matters: The threat against the BRICS nations (primarily Brazil, Russia, India, China, and South Africa) is the latest escalation in Trump's campaign to use the specter of tariffs to achieve policy goals. Catch up quick: Trump, in a Truth Social post Saturday, demanded the BRICS countries fully support the dollar and not create their own competing currency.
If not, he said, "they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy."
(Excerpt) Read more at axios.com ...
And they know he’s not bluffing.
More bad news for Putin.
Do you need some salve for your butt-hurt?
President Trump’s gonna send Putin to the poor house in 7 weeks.
And Trump's gonna end your proxy war in 7 seconds.
President Trump killing the Ruble to stop Putin’s invasion in its tracks. Smart strategy. Next up. Drill baby, drill!
Nor are they.
In 1960 we were 40% of the global GDP.
In 2020 we are 20% of the global GDP. We are no longer as significant as we once were.
Meanwhile, the PRC has passed us in PPP and will pass us in GDP in the next 6 years. They are more than TWICE the manufacturing base we are.
We print currency and run massive deficits, and those that use the US dollar are basically paying for our debt as they lose money from inflation. PRC lost something like 600 billion in the course of 2 years a few years back.
Finally, we use our currency in our “economic warfare” games which we engage in at the snap of our fingers. Dependency on our dollar is a vulnerability.
Trump isn’t turning this macro level trend around, and he can’t force others to use our monopoly money. With the war in the Ukraine and going after Russia economically, we set things in motion that can’t easily be stopped.
You are delusional.
The BRICS-stronk crowd are already in a meltdown over President Trump’s 100% BRICS tariff. Did you really expect him to bail out Putin’s ruble?
However, the PRC is facing demographic and economic collapse in the next decade.
Nothing like applying a little pressure on Putey before the peace negotiations start. 😏
Senile Joe’s Sanctions failed, and now Trump’s tariffs…they can possibly do more harm to the US consumer than good.
That said, no one really knows anything about the tariffs. Food? Autos?Electonics? Medicine? Pharmacy? Commodities? The US imports many things, most of which we do not or can not produce.
I am not behind Trump on this one. The world is distancing itself from the USD, forcing them to trade in USD’s is not the answer.
>>Trump isn’t turning this macro level trend around, and he can’t force others to use our monopoly money.
Actually he probably can on both counts. Ultimately I’d like to see us move back to a gold backed currency and/or abolish the Fed and move monetary policy back to the Dept. of Treasury, but at the moment our economy is dependent on the petro-dollar and vulnerable to its abandonment by other countries. Defending the petro-dollar at this moment in history is not a moral position but a practical one. We need to get our debt under control, after which defending the petro-dollar will be less important and less necessary.
Of course you are not. Trump defends the US first. Getcwith the program or get the hell out!
M. Armstrong wants to eliminate the income tax and tariffs.
Where would you get the mone6, instead?
Here’s an interesting article on the subject from Sundance.
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