Trump’s announcements brought to mind The Nixon Shock of 1971, where then US president Richard Nixon unilaterally overthrew the pre-existing global system of tying a nation’s currency to its gold reserves, and beginning the era of fiat currency. One way to look at the situation America is facing is that if the person with the biggest guns in the village is borrowing a lot of money from you, eventually he’s going to start thinking: why do I need to pay any of that money back, when I can just shoot my way out of this problem? This is because, the signal that was sent loud and clear from America to the rest of the world was: this can happen to you at any time.
Author: The Star Online
Published at: 2025-04-12 23:00:00
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