The article explores the potential demise of the US dollar’s 80-year status as the world’s primary reserve currency, a position that has afforded the United States unique global influence. It questions whether this “era of the dollar” is ending, significantly spurred by policies and actions attributed to a Donald Trump presidency which are eroding international trust.
Key arguments suggest that this administration’s approach—including aggressive tariffs, disregard for international norms, challenges to institutional independence (such as the Federal Reserve), and a rapidly increasing US national debt—is critically undermining confidence in the US and its currency. This is reflected in early signs of investors diversifying into assets like gold and German bonds. The dollar’s value, traditionally underpinned by trust in stable US institutions, is now threatened by perceptions of arbitrary and unpredictable governance. This erosion of trust puts at risk the US’s unparalleled ability to enact sanctions and borrow extensively on global markets.
While no immediate, perfect replacement for the dollar is apparent—the Euro contends with market fragmentation, and the Chinese Yuan with political and regulatory constraints—the article highlights expert opinions, such as Kenneth Rogoff’s, suggesting that current US policies are accelerating a de-dollarization trend. The primary conclusion is that the world is losing a significant pillar of financial certainty. The decline or collapse of the dollar’s dominance could usher in an unpredictable global financial era, potentially leading to currency blocs or a renewed focus on gold-backed systems, profoundly disrupting international trade and stability with far-reaching consequences comparable to major geopolitical shifts.
Source: Trump zrujnował największy atut USA. “Era dolara dobiegła końca” – Wiadomości
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