Donald Trump believes crypto is a disaster waiting to happen – News Sept 2

Donald Trump believes crypto is a potential disaster simply waiting to happen when he talked about crypto this week, so let’s examine what else he has to say on the crypto information.

Donald Trump is not a fan of cryptocurrencies, as he has repeatedly identified. The former president spoke out towards digital property in an interview with Fox Business, saying:
“I like US currency.”Trump says investing in crypto property has the potential to be a disaster waiting to happen. Fox Business reported that it believes that cryptocurrencies are harming the US forex and that individuals ought to care about the US greenback alone. Trump additionally thinks Bitcoin is a rip-off, blaming it for undermining the power of the greenback:

“The forex of this world must be the greenback. And I do not suppose we must always have the entire bitcoin on this planet on the market. I believe it is best to throttle it very, very excessive. It diminishes the greenback’s benefit and the greenback’s significance. “

Trump says crypto can be fake and related to BTC, and crypto seems to be his favorite answer to anything he disagrees with. ACCORDING TO THE WALL STREET JOURNAL DOLLAR INDEX, the USD has not performed well over the past year and is in the same position as it was a year ago. The index measures the value of the dollar against 16 foreign currencies. The USD is the world’s fiat reserve currency, but it is far from stable and can also be viewed as a disaster when other factors are considered. Since the COVId pandemic, the Federal Reserve has spent trillions of dollars on stimulus packages and quantitative easing. The more money that goes into the monetary system, the less the value of each dollar is. Combined with zero interest rates and 5.4% inflation, things don’t look suitable for the dollar.

Donald Trump believes crypto is a disaster, and since the COVID pandemic began in 2020 when the Federal Reserve printed out trillions of dollars and stimulus packages, so more and more money poured into the system currency, the dollar’s value has been falling.

The Fed’s balance sheet, or assets and liabilities, are $ 8 trillion and still growing. Still, most of those liabilities are dollar bills that banks put into circulation each month to buy $ 120 billion a month in mortgage-backed securities and bonds. The post-pandemic recovery will take years, maybe even decades, so fiat currency and currency manipulation could replace the impending disaster.
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