Donald Trump Reveals New Threat to the US Dollar

The ongoing US election is heating up as the two leading candidates continue to make fresh revelations. Former US President Donald Trump has once again shocked the world, revealing a new threat to the US dollar that is eroding its credibility and hindering its global expansion.
A New Threat to the US Dollar According to Donald Trump
In one of his previous conferences, Trump was noted for sharing a new threat that has recently been gnawing at the US dollar. Speaking at length about it, Trump  revealed  how the current US government’s actions have been gradually eroding the dollar, in contrast to Bitcoin, which has been wrongly accused of being a financial system that challenges the US dollar.

Additionally, Trump also revealed plans to fire Gary Gensler, the current SEC director, and appoint a new chairman to adjust financial policies and efforts.
“Bitcoin does not threaten the dollar; the current U.S. government’s behavior actually threatens the dollar. I will fire Gary Gensler and appoint a new SEC Chairman.”
It is worth noting that several  de-dollarization initiatives  have picked up pace recently, with alliances such as BRICS and ASEAN calling for the abandonment of the US dollar. With the weaponization of the US dollar, the integrity of the dollar has been severely affected. With the US public debt figures soaring, the global phenomenon of searching for alternative currencies has also gained significant momentum.
This development further undermines the credibility of the US dollar. On the other hand, Trump has vowed to protect the US dollar by imposing tariffs to keep the integrity of the currency intact. Similarly, Trump is said to have offered Elon Musk a cabinet role in budgeting to ease the pressure on the dollar.
“Do you think we can cut Biden’s wasteful $6.5 trillion budget? I think we can cut at least $2 trillion. Yes, yes, two trillion dollars. At the end of the day, you’re being taxed; you’re being taxed—all government spending is tax.”
Tax cuts and huge deficits will happen if Trump wins
Elon Musk recently responded to a post on X outlining the consequences the US economy could face if Trump becomes the next president.
The post clearly outlined how a temporary economic collapse could destabilize the US economy.
“If Trump succeeds in pushing through mass deportations. Combined with Elon attacking the government, firing people and reducing the deficit. There will be a massive initial overreaction in the economy. This economy is propped up by debt (creating asset bubbles) and artificially suppressed wages (through illegal immigration). The market will crash. But when the storm passes and people realize we are on stronger footing, there will be a rapid recovery to a healthier, more sustainable economy.”
Regardless of the outcome, the US economy is making great strides, including dramatic but important economic changes that could alter the nation's fortunes.