Trump: The hegemony of the dollar is on the decline.
The former US president warned about the declining position of the dollar in the world and said that America is going to hell.
In an interview with Fox News, former US President Donald Trump warned about the decline of the hegemony of the dollar in the world and said about the state of America: “We are going to hell.”
In this interview, Trump said: “Our country is going to hell, and we will not be safe.” We have power, but it is declining. In fact, in terms of our country’s currency, our power is declining, and I’m not just talking about the value of our currency, I’m talking about [declining] its use around the world.”
The website of the Fox Business Network wrote that Trump said in this interview that the fall of the dollar’s position as the world’s reserve currency is “a bigger [event] than losing any war.”
The former US president added: “One looks at the airports, looks at the terminals, looks at our dirty and hot roads and everything else and sees that we are like a third world country.”
Donald Trump added in another part of this interview: “We have a very powerful tool and that is our dollar.” But we are seeing what happens and other countries do not use it. China wants to replace it with the yuan. This was unimaginable for us. “It was never supposed to happen, but now people are thinking about it.”
Trump’s role in dollarization
Trump’s statements have been raised while many experts on economic and legal issues describe his excessive recourse to sanctions as one of the main factors in weakening the position of the dollar and in general, weakening the sanctions system.
After coming to power in 2016, Donald Trump used sanctions in a way that was clearly different from previous administrations. The Los Angeles-based law firm Gibson Dunn reported in 2021 that, according to data compiled by the firm, the Trump administration has taken more than 3,900 separate sanctions against various parties during its 4-year tenure in the White House.
According to this report, a comparison of the number of individuals and entities that were added to the sanctions list on average each year during the eras of George Bush, Barack Obama, and Donald Trump shows that Trump has set a new record in the number of times sanctions are used. Is. Specifically, Bush and Obama added an average of 435 and 533 names of individuals or entities to the sanctions list each year, while this figure was 1,027.5 for Trump.
A large part of the Trump administration’s sanctions measures have been carried out against Iran after the withdrawal of the United States from the JCPOA. Former US Secretary of State Mike Pompeo said on Twitter that the Trump administration has targeted more than 1,500 individuals and entities in Iran and deprived Iran of 70 billion dollars.
But in the case of Iran, it was not only the excess in the number of cases of using sanctions that marked Trump’s different approach, but his government, ignoring the warnings of many experts and specialists, went to extremes in the severity of the sanctions, and within a short space of time, the maximum He mobilized the power of American sanctions against Iran and brought it to the field.
