[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Peter Schiff [@PeterSchiff](/creator/twitter/PeterSchiff) on x 1.2M followers Created: 2025-04-20 13:45:22 UTC Trump says China needs the U.S. consumer. There are XXX million American consumers who earn an average of $44K per year each. This is far higher than what most consumers outside the U.S. earn, but it's all a function of exchange rates. There are XXX billion Chinese consumers who earn an average of $13K per year. But if the RMB doubled against the dollar, those XXX billion would instantly earn $26K per year. While that's still less than what the average American earns, since China outnumbers us by X billion, the extra $13K per year in Chinese income exceeds XXX% of total U.S. income by 20%. If the income of XXX billion Chinese consumers doubled, they would easily be able to buy the goods Americans could no longer afford. Similarly, there are XXX million European consumers in the EU alone who earn an average of $XXXXXX per year. If the euro and the seven other European currencies in the EU rose by XX% against the dollar, those XXX million people would each earn an extra $17.5K annually, which represents more than XX% of the total purchasing power of all XXX million Americans. The point is the purchasing power of American consumers is purely a function of exchange rates. If the world abandons the dollar as the reserve currency, dumps U.S. dollar debt in favor of other sovereign debt or gold, the purchasing power that Americans lose would simply transfer to the rest of the world. Bye bye U.S. consumer, hello non-U.S. consumers. XXXXXXX engagements  **Related Topics** [money](/topic/money) [doubled](/topic/doubled) [$13k](/topic/$13k) [rates](/topic/rates) [$44k](/topic/$44k) [china](/topic/china) [donald trump](/topic/donald-trump) [Post Link](https://x.com/PeterSchiff/status/1913952132014735867)
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Peter Schiff @PeterSchiff on x 1.2M followers
Created: 2025-04-20 13:45:22 UTC
Trump says China needs the U.S. consumer. There are XXX million American consumers who earn an average of $44K per year each. This is far higher than what most consumers outside the U.S. earn, but it's all a function of exchange rates.
There are XXX billion Chinese consumers who earn an average of $13K per year. But if the RMB doubled against the dollar, those XXX billion would instantly earn $26K per year. While that's still less than what the average American earns, since China outnumbers us by X billion, the extra $13K per year in Chinese income exceeds XXX% of total U.S. income by 20%. If the income of XXX billion Chinese consumers doubled, they would easily be able to buy the goods Americans could no longer afford.
Similarly, there are XXX million European consumers in the EU alone who earn an average of $XXXXXX per year. If the euro and the seven other European currencies in the EU rose by XX% against the dollar, those XXX million people would each earn an extra $17.5K annually, which represents more than XX% of the total purchasing power of all XXX million Americans.
The point is the purchasing power of American consumers is purely a function of exchange rates. If the world abandons the dollar as the reserve currency, dumps U.S. dollar debt in favor of other sovereign debt or gold, the purchasing power that Americans lose would simply transfer to the rest of the world. Bye bye U.S. consumer, hello non-U.S. consumers.
XXXXXXX engagements
Related Topics money doubled $13k rates $44k china donald trump