USD is heading towards a 40% devaluation.
I wasn't convinced at first, but it makes sense after you think about it on a longer time scale.
The amount of sovereign debt is just unpayable in any real terms ( basket of goods ).
75 million baby boomers ! with rising projected fiscal deficit from here on out.
The easiest solution is to let the currency take a hit and default nominally.
It won't cause a huge amount of inflation, only ipads, and foreign imported goods gets slightly more expensive.
I also do not think other countries devalue as many pundits think.
CNY has been trying to gain purchasing power, as a side karma benefit, the CCP gets to own people taking money out of china and moving into USD, when USD falls by 40% then nowhere is safe ! It reduces pressure from chinese citizens to move assets abroad.
The amount of dollar denominated debt globally is just too high, so trump is right.
