Donald Trump And The Fed Are Destroying The U.S. Dollar
Its been an historic week for the U.S. with president Donald Trump signing a record $2.2 trillion coronavirus-induced emergency stimulus package.
The massive cross-party rescue deal is designed to help Americans and businesses cope with the economic shutdown caused by the coronavirus COVID-19 pandemic.
The U.S. dollar has taken a beating, however, dropping almost 4% against a basket of currencies this weekits biggest weekly loss since the height of the global financial crisis over 10 years ago.
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The Fed has also cut its benchmark interest rate to near zero and made sure commercial banks will continue lending to companies, cities and statesall told the extraordinary measures are expected to grow the Feds balance sheet by $4.5 trillion this year.
Throughout and in the aftermath of the global financial crisis the Fed grew its balance sheet by a paltry $3.7 trillion.
The beautiful thing about our country is $6.2 trillionbecause it is 2.2 plus four [combining the Feds action and the cross-party rescue bill]its $6.2 trillion, and we can handle that easily because of who we are, what we are, Trump said, speaking after the bills historic White House signing ceremony, and boasting the package was twice as large as any prior relief bill.
More at:
https://www.forbes.com/sites/billybambrough/2020/03/28/donald-trump-and-the-fed-are-destroying-the-us-dollar/amp/
murielm99
(30,777 posts)Why not bankrupt the USA as well?
no_hypocrisy
(46,234 posts)And with 0% interest rate looming for maybe 20 months.
mitch96
(13,929 posts)dump the turd November third....
m
Yo_Mama_Been_Loggin
(108,304 posts)duforsure
(11,885 posts)And his policies have been designed to hurt us and weaken this country , and if that gets exposed he is , trump should be charged with treason. Looks like to me trumps working to weaken us now even more by no response, no help, and no truth.