The world-famous Danish investment bank Saxo Bank has come out with its traditional annual “shocking forecasts”.
They are given by financial and credit institutions on the eve of the new year – unlikely events are announced that are underestimated by experts.
However, they are the ones who can have a significant impact on the global situation in politics, economics, and the social sphere.
And here are the next “shocking predictions.” This time they are related to Donald Trump, who, as we know, will take office as President of the United States in January 2025.
Consequences of the introduction of duties
According to analysts at Saxo Bank, the increase in import duties announced by the politician will have catastrophic consequences for the US dollar.
Experts suggest that many countries will begin to actively seek alternative means for international payments, including digital currencies, reports MIA Rossiya Segodnya.
In this regard, a significant increase in the capitalization of the cryptocurrency market is predicted – 4 times, to more than 10 trillion dollars.
In addition to the gigantic import tariffs, Trump may actively reduce the budget deficit in 2025 through the Department of Government Effectiveness he created.
The implications for the dollar are catastrophic for trade around the world, as it (the introduction of tariffs - Ed.) will cut off the supply of dollars needed to keep the global dollar-based system running, the bank predicts.
Replacement for the dollar
This situation will lead to many countries starting to look for a replacement for the dollar.
For example, China and the BRICS+ member states will move to transactions with digital money backed by gold, and perhaps even move to a new “offshore yuan” also backed by gold.
Europe will continue to try to use its single currency more actively in international trade relations.
In addition, analysts predict that the EU will use cryptocurrency stablecoins tied to gold.
A dramatic new chapter in the history of global financial markets is beginning, Saxo Bank announced.
All this, the prediction says, will raise the cryptocurrency market by 4 times (exceed 10 trillion dollars), while the American currency will collapse by 20% in relation to other major currencies and by 30% in relation to gold.
