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Alasdair Macleod: U.S. trade policy will destroy the dollar
By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, November 28, 2019
America's tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the federal government when it leads to foreigners no longer buying U.S. Treasury debt and selling down their dollar holdings. A subversive attempt by America to divert global portfolio investment from China by destabilizing Hong Kong will force China into a Plan B to fund its infrastructure plans, which could involve actively selling down her dollar reserves and hastening the introduction of a new crypto-based trade settlement currency.
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The U.S. budget deficit then will be financed entirely by monetary inflation. Furthermore, the turn of the credit cycle, made more destructive by trade tariffs, is driving the global and U.S. economies into a slump, accelerating all indebted governments' dependency on inflationary financing. The result is that America's trade policies have been instrumental in hastening the end of the dollar as the world's reserve currency, leading to its destruction. ...
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