Amid the ongoing war for the greenback from the BRICS bloc, Donald Trump has been predicted to win the 2024 presidential election and save the US dollar. Specifically, VanEck has discussed its expectation for Trump to regain his seat in the White House. Ultimately, it could have a massive impact on the dollar’s global performance.
In a report discussing the performance of Bitcoin next year, the asset management firm gave its prediction. Specifically, they stated that in a “combative election” Trump would be reelected as President with 290 electoral votes. Subsequently, the move is likely to have massive geopolitical ramifications.
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Donald Trump’s Reelection Could be US Dollar’s Hope Against BRICS
For much of the last year, the rise of the BRICS alliance has dominated global discourse. Indeed, the alliance noted a vital six-nation expansion effort announced at its 2023 annual summit. Moreover, their de-dollarization efforts have started to gain footing within global trade. However, there could be a massive shift in the coming year.
Specifically, amid BRICS and their fight against the greenback, VanEck predicts Donald Trump to win the 2024 presidential election and thus fight to save the ailing currency. The asset management firm predicts 290 electoral votes that will guide Trump back into the Oval Office as the nation’s commander-in-chief.
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Trump has not been shy about his stance regarding the dollar’s downfall. Subseuqnlety, as a host of political figures have assured its ability to withstand international pressure, Trump has spoken about the necessity to protect it. Speaking to Fox’s Larry Kudlow, he noted that the country was “going to hell,” primarily because of the dollar’s declining status.
“We have power, but it’s waning,” Trump told Kudlow earlier this year. “And I’m not just talking about the value of our currency, I’m talking about our currency being used throughout the world.” Therefore, a reelection for the United States could be a massive step toward the country’s attempts to regain ground. Especially as the international trade market has been inundated with efforts to greatly inhibit the dollar’s performance.
When it comes to the dollar, Trump could represent increased hope. Moreover, his election could pave the way for political action that curtails BRICS efforts. In the end, a 2024 outcome mirroring VanEcks’ prediction could bring value back to the declining currency.