Dollar drops against basket of currencies after Donald Trump brushed off concerns over slide
The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.
The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.
“No, I think it’s great,” Trump said of the weaker dollar, during a visit to Iowa to promote his record on the economy. Asked whether he was concerned about the currency’s slide, he told reporters: “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”
The greenback has tumbled by 10% over the past year, while Tuesday’s fall was the largest one-day drop since last April, when Trump announced his sweeping tariff plans, marking a global market sell-off.
Yes they are. They are working exactly as the people in charge want them to. They want a weak dollar and low interest rates because it allows them to get smaller debt payments, and a weak dollar/inflation makes the numbers go up. It’s a risky game though, because demonetization could mean a worthless dollar and a destroyed economy. But again, I wouldn’t be surprised if they want that to because then they can strip it all for parts and sell it off to our enemies. As long as they get richer they don’t give a shit. They will just convert any currency to whatever new safe haven and continue on.