Why does Trump want to devalue the dollar?

Bonfire97

Joined: May 2, 2018

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3:05p, 7/8/24

AG

If anyone recalls, Trump was making statements when he was in office about wanting to devalue the dollar. He also went to Jerome Powell several times and had "closed door sessions" with him and, magically, Powell came out of those meetings with a complete reversal on holding interest rates and then dropped them. This was 2019, before the covid interest rate slam-to-zero and the money printing began.

Fast forward to now. I am seeing articles all over the internet about "Trump plotting to devalue the dollar if re-elected". These are from reputable sources.

Isn't this just going to spike inflation again? Can someone help to explain what he is trying to do here?

Sims

Joined: May 5, 2006

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3:21p, 7/8/24

AG

Doubt there is a super complex sound money angle to it. Probably more along the lines of a wealthy American real estate developer being told by foreign buyers that the dollar is too strong and it inhibits their ability to buy his developments.

I say that as maybe a source of the bias toward that position. Just speculating.

Devaluing the dollar is a path forward to pay off the debt and address trade imbalances...I don't recall seeing a precise explanation of why he thinks that's the correct path forward.

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themissinglink

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4:00p, 7/8/24

AG

2 reasons

1) Trump was all about trade deficits and trade wars. Devaluing the dollar decreases imports and increases exports. Nevermind this would generally lower domestic standard of living.
2) Artificially low rates are drugs for the US economy. They provide a temporary short term boost to the economy at the expense of long-term inflation risks.

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pfo

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4:47p, 7/8/24

AG

Congress way overspending, borrowing and printing more dollars is what has caused the dollars demise. This has occurred during every administration since LBJ's Great Society. If this isn't stopped pronto, the dollar is going to be worthless!

Think things are bad now? Wait until the dollar is worthless.

Honestly, federal gov spending, the invasion by illegals, election integrity, the size and scope of government and involvement in foreign wars are the big issues that will decide America's fate.

America has way way more government than we need.

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