The US dollar’s grip was subjected to global financing of the attack, and Trump is sure of control. China, Hong Kong, Thailand, the United Arab Emirates and the Kingdom of Saudi Arabia build a digital currency of the Central Border Bank (CBDC) called MBRIDGE, designed to allow them to trade without the need for US or fast dollars.
The bank was initially with international settlements (BIS) to support the project, but immediately before the US elections, BIS was suddenly withdrawn. Officials claimed that she had reached the stage of “minimum viable products”, but according to a report issued by the Financial Times, Washington forced them to decline.
More specifically, last fall, immediately before the American elections, unexpectedly repeated withdraw From mbridge, actually controlling the assignment of China and the rest. BIS claimed that this was just because he reached the stage of “minimal of viable products”. But a few of them think this. The Americans demanded [the BIS] One of the participants tells me, “stop because it represents a threat,” explaining that Washington is concerned that it “may be used to evade [dollar] Penalties.
The decision came immediately before Trump returned to power, and his administration turns on anything that threatens the domination of the dollar.
Trump moves to prevent alternatives to the dollar
Trump said through many social positions of the truth that any country trying to weaken the dollar will face consequences. He has published a warning: “The idea that the BRICS countries are trying to get away from the dollar, while we stand and watch, ended. We will need a commitment from these hostile countries, which seems to not create a new BRICS currency and does not return to any other currency to replace the great US dollar. If not It is so, they will face 100 percent of the customs tariff and they should expect to say goodbye to sale in the wonderful American economy.
While commercial policy has received most of the attention, the financial war is revealed in the background. The US dollar supports America’s global power, and Trump does not leave this slip.
On paper, the dollar still dominates. The International Monetary Fund states that 58 % of the Central Bank reserves are retained in dollars. This is less than two decades, but the change was often towards smaller currencies, not major competitors such as the euro or the yuan. The fast network shows that 49.1 % of global transactions were in dollars, the highest level in 12 years.
According to the World Gold Council, central banks refer to gold at record levels, which indicates that some of them surrounded the dollar. At the same time, China has expanded its alternative payment system, CIPS (cross -border bank payment system), which includes 160 member banks and has seen an 80 % increase in transactions since 2022. Meanwhile, US financial sanctions have pushed to search for countries To search for alternative trading channels, which increases interest in CBDCS.
This is prominently reasonable. But it seems that Trump is considering using sticks. Last month, he issued an executive order prohibiting any use of the central bank’s digital currency in America, as they “threaten the stability of the financial system, individual privacy and the sovereignty of the United States.”
Trump also supported Bitcoin, despite his reputation as a hedge against the dollar, and most importantly, he had supported the dollar -backed Stablecoins, and called for their global expansion.
Some questioned the reason for Trump support Stablecoins, given that the European Central Bank (ECB) was publicly opposed. Stablecoins, unlike CBDCS, expand the use of the dollar, not to replace it. The idea is simple: If Stablecoins can be used outside everywhere, more transactions will be linked to the US dollar – even outside the American banking system.
Howard Lootnick, choosing Trump for the Secretary of Commerce, has profound relations with Tether Stablecoin, which has the highest maximum market between Stablecoins. During the Senate session, Senator Elizabeth Warren said that the connection of the rope was a conflict of interests, but Howard was confirmed anyway.
The value of the Stablecoin market is about $ 220 billion at the time of the press, which is a small part of 6 trillion dollars in the US capital market.
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