The highest stakes is with the sanctity of the U.S. dollar at a global level.

And indeed, I actually think this is the core of Trump's sense of resentment and anger

is the disconnect between the U.S. dollar as the world's reserve currency, on the one hand,

and then the inability of the United

States to make use of that power as it pleases. So it seems to Trump that if everyone is using

dollars, then the U.S. should be able to tell them what to do with those dollars. But actually,

the whole essence of the strength of the dollar

is that that's not the case. It's impervious to U.S. economic policy for the most part, and, you know,

through thick or thin, becomes a place that countries feel like they can stock up their own

capital and so on. Something like a planned attempt to work against economic logic would, I think,

accelerate people's movement out of dollars.

It's already starting to happen.

There are cracks appearing.

And I think something like that would be the fastest way to make that happen in terms of

a ruble block, in terms of a new sort of bricks reserve currency movement to the renminb. There's already, you know, hints of that at the margins. And I think too much more evidence of the U.S. as an untrustworthy steward of global economic interdependence will just accelerate that move.

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