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US bank: Trump may devalue the dollar further


blueskyline
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http://www.almadarnews.org/index.php?page=article&id=59409....

 

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US bank: Trump may devalue the dollar further


 

25-06-2019 06:47 PM 
Number of Views: 133


 

Orbit Agency -

Baghdad

The value of the US dollar has fallen, to its lowest level since August last year, relative to the Russian ruble.

Bank of America says this is not the final limit, because US President Donald Trump may decide to devalue the US currency. The bank, one of the country's largest financial institutions, warned investors of the US authorities' intention to float the dollar. Trump will make the decision, under the slogan of stabilizing the economy.

"If the Fed's move to cut rates seems to be insufficient, the likelihood of formal intervention in the monetary issue will increase," said Michael Meir, an economist at Bank of America and a currency strategist at Ben Randall.

In 2018, the US economy grew by 2.9 percent, but by the end of the year, it slowed significantly.

According to IMF forecasts, US GDP growth will decline over the next two years. Experts say the possibility of a recession by 2021, due to the existence of a huge government debt, exceeding $ 22 trillion, and a budget deficit of $ 1 trillion, resulting from a sharp increase in the costs of servicing this debt, as well as a sharp worsening of the trade war with China.

These experts predict that a 'soft' recession may occur in 2020, despite the expected rate cut.

Experts point out that Trump publicly and explicitly abandoned the policy of 'strong dollar', which his predecessors stuck in power.

Trump believes that the 'strong dollar' is hindering the export of US goods and services, and only exacerbates the trade deficit: in 2018, this index reached an unprecedented number - $ 621 billion. If the dollar becomes cheaper, foreign consumers would prefer to buy American goods, increasing production and reducing the foreign trade deficit.

Last week, Trump strongly attacked ECB President Mario Draghi, accusing him of deliberately depreciating the euro against the dollar.

Trump has consistently insisted that China deliberately devalues its currency - the yuan, making exports cheaper and increasing trade imbalances with the United States.

But experts fear that Trump's continued "weak dollar" policy could undermine US economic growth

 

 

 

 

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2 hours ago, blueskyline said:

.These experts predict that a 'soft' recession may occur in 2020, despite the expected rate cut.

Experts point out that Trump publicly and explicitly abandoned the policy of 'strong dollar', which his predecessors stuck in power

 

 

2 hours ago, blueskyline said:

But experts fear that Trump's continued "weak dollar" policy could undermine US economic growth

 

My opinion is THESE two items point to a need for "another" "positive" "factor" TO BE "introduced" "early" "enough" TO "avert" "undesired" FORTHCOMING "economic" "events" OF "unknown" "proportions".

 

OF COURSE, THEE "positive" "factor" BEING THEE Bicraqi Iraqi Dinar ReInstatement INTERNATIONALLY WITH Ye Olde, er, NEW Silk Road Trade ReStarted AND A The United States Of America AND China Trade Deal IN PLACE!!!

 

Go Moola Nova!

:pirateship:

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The bank, one of the country's largest financial institutions, warned investors of the US authorities' intention to float the dollar. Trump will make the decision, under the slogan of stabilizing the economy.........What caught my attention is what will take place that might upset the stability of the economy ?

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27 minutes ago, blueskyline said:

GA Synopsis . Thanks for your analysis.  I agree completely. Hope your having a good weekend. 

 

:twothumbs: Thank You AND Oh, YEAH!!!, ESPECIALLY With Fine Folks Such As Yourself HERE At DinarVets, BlueSkyLine, AND The Very Best Of Your Weekend To You!!! :tiphat:

 

Go Moola Nova!

:pirateship:

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