In an episode of his podcast with Joe Rogan, Elon Musk shared a harsh warning about the future of the US dollar. Tech-Mogul said the US is about to go bankrupt. Musk further said that the US dollar is worth “nothing” if people don’t take action. Musk’s comments come amidst the global out-of-co-transport movement. Many countries have expressed their desire to move away from the greenback and use local currency for trade.
Elon Musk on customs
When asked about his opinion on tariffs, Musk said, “I think we need to be careful about tariffs.” Musk said tariffs could lead to supply chain issues. He added that tariffs must be predictable so that businesses can adjust their supply chain. The world’s wealthiest man also said he was against the sudden, huge tariffs.
President Trump’s recent tariffs have led to a significant drop in the market. The nation struggled to contain the chaos of the market, so the cry of decommunity was suppressed. Trump recently announced a 90-day suspension of tariffs in all countries except China. The two biggest superpowers of the world continue to engage in fierce battles.
Is derailment a strong fear?
The US dollar has witnessed a significant decline in power in recent years. Over the past decade, the Original has significantly advanced market expansion. The use of Yuan for trade invoices has increased from zero to 30% over the past decade. Foreign banks are currently working with the Central Bank of China through more than 40 currency swap agreements. These recent advances appear to advance the goal of decooperative.
Despite the yuan’s vast expansion, its value against the US dollar has recently dropped to its lowest level in two years. Dip came amid Trump’s announcement of additional tariffs on China.
The de-cooperative movement has discovered many subscribers, but the US dollar could remain a foreseeable future global reserve currency.
