Reposting:
It’s not fucking “strange”.
It’s Canada, Japan, the EU, and our other former allies retaliating against the US trying to use absolutely asinine and ham-fisted tariffs as a cash grab/shakedown by engaging in strategic retaliatory fiscal policy.
This is actual 4D geoeconomic chess. Because if orangeboi doesn’t listen and they keep going, the USD standard goes away.
Of course it's not strange. It's not even necessarily retaliation! It's just smart business. The US is not reliable or stable, and the dollar is not reliable or stable. Neither are good investments right now.
I mean it IS retaliation though. It’s retaliation for thinking absurd tariffs are a great idea to apply to one’s allies.
And please do note that some particular countries who were until very recently considered geopolitical adversaries by our government (Russia; Belarus) are NOT targeted by any of the tariffs.
This is what happens when you switch teams, and all of your allies are not a fan of you switching teams, and they don’t want to be tied to your currency standard anymore.
Oh absolutely. Perhaps "necessarily" isn't the right word. But the point is that even if you were somehow perfectly neutral (or worse, supportive) toward this horrifying shift in geopolitics, you still wouldn't want to invest in the US dollar.
Truly unforseeable instability
you dropped this
/s
What's so strange about it? Trump is trying to fire the chairman of the fed, a non political organization to install a sycophant that will lower rates and send prices through the roof so rich people's line can go up. He is intentionally trying to lower the value of the dollar. If he succeeds, we're fucked.
It’s strange mostly because it’s the first time in post war history that stocks AND dollar does down
Have they seen our current politico-economic stance? That’s the first time too, but seems like the expected response.
I haven’t ever tried lighting my house on fire but I can safely predict that if I did, things I care about will get ruined. It hasn’t happened before but that’s because I’ve never lighted my house on fire before. Otherwise, obvious cause and effect
They touch on it in the article. What if the goal is to trade globally in cryptocurrency?
the fed, a non political organization
Ha!
What trust? I'm from the EU and I have no trust in the US atm.
The thing is the US is done as a global leader. There is still what 3.75 years left of Trump. When the world moves away from USD there is no going back after Trump leaves.
Ass to mouth is actually one of the few things you can trust us to do well.
Who am I to kinkshame.
I want to start storing my money in EUR instead of USD. How do I do this digitally with minimal fees and complications?
Far as I can tell, Neobanks are the best option for less well-off Americans. I personally would go for Wise since it allows for banking through a desktop browser, but Revolut and Neon might be better options if you use smartphones. Neon in particular, since that is part of the EU bloc, uses IBAN Internation Bank Account Number, and is based in Switzerland. Revolut and Wise are based in London.
Mind, I haven't actually tried signing up for a neobank account as of yet. Do further research for any concerns you have, since I am pretty amateur at this fiscal stuff.
Can you store it in commodities instead? Like gold??
Not a bad idea.
Probably crypto, just get a euro stablecoin, anything else is gonna be pretty complicated
I'll probably end up doing this. Thanks for the idea.
Almost like investors don't trust a fucking criminal who is manipulating the markets... How strange!
For anyone asking why it's strange, from the article
Traditionally, the dollar would strengthen as tariffs sink demand for foreign products.
If you're looking at the dollar with supply and demand, if international trade to the u.s. decreases with tarriffs, then the amount of dollars leaving the u.s. also decreases and thus the supply of dollars on the international market. Assuming demand remains constant then the strength of the dollar should go up.
For this decrease in strength you have to look to demand which has to decrease enough to counteract the tarriffs plus more. This decrease in demand is coming from both decrease in demand for assets priced in dollars (u.s. companies stocks, treasury bonds, real estate etc.) And retaliatory tarriffs which lower demand for u.s. goods.
Exactly, when people and organizations are selling their American stocks and companies and customers around the world stop buying American, there is less need for dollars. When the demand decreases, the price decrease.
Who still has any trust in us outside of other fascists and autocrats?
There are a lot of fascists and autocrats in the world though.
Nearly all of them installed and empowered by the US.
Look man I hate the US as much as the next guy but this is gigawrong.
The list of us interventions ending in the installation of a dictator is has more entries than the total number of countries on the planet. It cannot be overstated how many dictators the US has directly, explicitly supported and installed.
Hell we usually end up fighting them, because they stop paying whatever we charged for installing them.
What’s your source for that?
A community for discussing events around the World
Rule 1: posts have the following requirements:
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
News !news@lemmy.world
Politics !politics@lemmy.world
World Politics !globalpolitics@lemmy.world
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/