Trump Warns of Biggest Defeat in US History If China Dethrones the Dollar

Former U.S. President Donald Trump has acknowledged China's efforts to dethrone the dollar as the world's reserve currency. In a post on Truth Social, he stated that if successful, it would be the biggest defeat for the U.S. in 200 years. Trump also criticized President Biden's economic policies, claiming that the country was "going to hell" and that inflation rates were "out of control." China, Russia, and India have been making moves to support their national currencies as settlement currencies, with BRICS working on a new currency to be discussed in August.