On May 28, 2024, Ron Paul, Republican Representative of Texas in the House of Representatives, wrote in an article published on the Ron Paul Institute: “Biden’s tariff hike is another nail in the coffin of the dollar. »
In this article, he raises two important points:
- If the dollar weakens and loses its status as an international reference currency, the weight of the American debt will become unsustainable, the purchasing power of Americans will fall, and an economic crisis will be inevitable. In addition, the United States will lose part of its global influence, having fewer levers on the international stage.
- Ronald Reagan was right when he said that no nation that abandoned gold could retain its greatness. This demonstrates that the United States is beginning to recognize that the dollar is in decline.
Ron Paul is not just any politician. He is a well-established figure in the political landscape, aged 88 and having run for president three times. He’s not looking to make a name for himself as an outsider. Whether you agree with him or not, his views on issues like the dollar reflect a growing awareness among American policymakers.
What evidence suggests the dollar is weakening? Are we heading towards a second Bretton Woods to save it?
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The information contained in this article is purely informative and does not constitute investment advice, nor a recommendation to buy or sell.
