The US dollar’s dominance as the world’s ulitmate safe-haven currency is being “shaken and severely tested,” warns the CEO of global financial advisory giant, deVere Group.

Nigel Green says that President Trump’s erratic policy decisions—tariffs, geopolitical clashes, aggressive deportations, and radical interventions with Musk’s Department of Government Efficiency—are accelerating the global shift away from the dollar. Investors are scrambling for alternatives, and the consequences could become permanent.

“The dollar has long been the anchor of global finance, but Trump’s actions are eroding confidence at a stunning pace. The world is watching the US turn inward with protectionism, trade wars, and erratic diplomacy.

“The market response is already in motion. The dollar has slumped to a four-month low, despite Trump’s rhetoric that tariffs would ‘make America stronger.’

“Instead, the world is moving to insulate itself.

“Major economies are advancing plans to settle trade in alternative currencies. China and Russia are expanding the use of the yuan and rouble in cross-border payments. The euro is gaining traction for reserves.

“The once-unthinkable de-dollarization seems to be happening at an accelerated pace, and Trump is handing the world every reason to continue.”

This isn’t just about economic shifts—it’s a reaction to chaos.

Trump’s foreign policy is alienating allies and pushing them to seek alternatives. His recent spat with Ukraine’s Volodymyr Zelenskyy, coupled with threats to cut US military aid, has sent shockwaves through European capitals. France and the UK are already exploring greater military and economic independence from the US.

The dollar, long seen as the glue binding alliances, could now become a liability for those who fear being caught in Trump’s crossfire.

“Confidence drives currency strength,” says Nigel Green. “Trump is making long-standing allies think twice, igniting trade wars, and creating massive instability. That’s the opposite of what you need to maintain a reserve currency.”

His drastic actions with Elon Musk’s Department of Government Efficiency (DOGE) are further adding to uncertainty.

“Investors are questioning whether the US economy is being driven by sound financial strategy or by impulsive political decisions.

“Meanwhile, his approach to tariffs—doubling down on trade wars with China and now extending them to allies like Canada and Mexico—is accelerating a realignment of global trade away from dollar-based transactions.”

The financial consequences for the US could be severe. A weaker dollar means higher borrowing costs, inflationary pressures, and a loss of influence over global financial markets. The debt burden, already ballooning, will become even more expensive to service as foreign investors pull back from US treasuries.

Trump’s policies are setting the stage for a self-inflicted economic downturn, one that will have far-reaching consequences beyond his time in office.

The cracks are already visible, with The Bank of England, among other pivotal global institutions, warning of growing risks tied to US trade policy.

Global investors are taking action. Capital is shifting into other major currencies, with the euro, Swiss franc, and yen gaining ground. Gold is seeing renewed demand, as investors seek protection from currency volatility. Even digital assets long viewed as speculative, are increasingly being considered as hedges against fiat instability.”

deVere Group advises investors to act before the full effects unfold. Diversifying away from dollar-heavy portfolios, strategically positioning in rising currencies, and gaining exposure to assets, geographies and sectors that benefit from a shifting financial order are now critical.

Nigel Green concludes: “Investors and institutions are already adjusting. The dollar’s status as a safe haven asset and reserve currency won’t disappear overnight, clearly, but Trump’s actions are lighting the fuse.”

Lesotho’s government says it is shocked by US President Donald Trump saying that “nobody has ever heard of” the southern African nation.

Trump, addressing the US Congress in his first speech since his return to the Oval Office, made the reference as he listed cuts made to what he said was wasteful expenditure.

“Eight million dollars to promote LGBTQI+ in the African nation of Lesotho, which nobody has ever heard of,” Trump said, eliciting laughter from some US lawmakers.

A spokesperson for Lesotho’s foreign affairs department told the BBC that Lesotho enjoyed “warm and cordial” relations with the US.

Lesotho is one of the biggest beneficiaries of the US’s African Growth and Opportunity Act (Agoa), which gives favourable trade access to some countries to promote their economic growth.

According to the US government, the two countries traded goods worth $240m (£187m) in 2024, mostly exports from Lesotho to the US, in particular textiles and clothing.

Lesotho’s Foreign Affairs Minister Lejone Mpotjoane said it was “shocking” to hear a head of state “refer to another sovereign state in that manner”.

“To my surprise, ‘the country that nobody has heard of’ is the country where the US has a permanent mission,” Mpotjoane told the BBC.

“Lesotho is a member of the UN and of a number of other international bodies. And the US has an embassy here and [there are] a number of US organisations we’ve accommodated here in Maseru.”

He later told the AFP news agency: “We are not taking this matter lightly,” adding that they would send an official protest letter to Washington.

Officials dismissed Trump’s remarks as “off the cuff” and a “political statement”, adding that they were “uncalled-for” given the good relations between the two nations.

“We maintain very warm and cordial relations with the US. They’ve got a mission in Maseru and we also have [one] in Washington,” foreign affairs spokesperson Kutloano Pheko told the BBC.

Mr Pheko was unable to confirm Trump’s comments on the funding that went to LGBTQ organisations, saying that as the money went directly to them, they would be best placed to comment.

Mpotjoane, on his part, confirmed that the country had been affected by Trump’s sudden decision to pause aid funding to countries around the world.

Many organisations, mostly non-governmental, were thrown into chaos after the Trump administration announced a permanent end to the US President’s Emergency Plan for Aids Relief (Pepfar) funding as part of a wider cost-cutting drive to reduce US government spending.

Pepfar was launched in 2003 by then US President George W Bush and its finances are distributed via the US government’s main overseas aid agency USAID, whose funding has also been cut.

Lesotho is among those countries that benefited from Pepfar, its health ministry told South African publication GroundUp in February, with TB and HIV programmes among those receiving the critical funds.

But Mpotjoane declined to criticise this decision, saying it was the US’s “prerogative to cut aid if they want to”.

BBC

By Amb. Emmanuel Mwamba

In the bustling streets of the city and Soweto markets, Simon Mwewa Lane, popularly known as Chitambala Mwewa, has become a constant and controversial figure. Armed with a live mobile phone perched on a selfie stick, he films the daily chaos around him, exposing the rot, confusion, and illegal activities that plague the Central Business District (CBD) and surrounding areas.

While his work is seen as brave by many, Mwewa’s recent clashes with UPND cadres have taken a dangerous turn. Known as the number one vlogger for President Hakainde Hichilema, Mwewa has long enjoyed a sense of protection, even accompanying the presidential entourage on local trips. However, this perceived insulation from harm is now being tested.

Today, tensions reached a boiling point when a group of UPND cadres confronted Mwewa at the market. Words were exchanged, and the encounter quickly escalated into a heated altercation. Loud shouts and angry cries filled the air as Mwewa, himself a UPND cadre, stood his ground. The cadres reiterated their threats to physically assault him and burn down the Simoson Building, a controversial property owned by Mwewa’s father, which houses shops and offices.

The confrontation has left many wondering about the true nature of the conflict. Is this a genuine fallout between Mwewa and his fellow party members, or is it a staged attempt to cleanse his dented reputation? Mwewa, who has long been seen as a vocal supporter of the UPND, now finds himself at odds with the very cadres he once stood alongside.

This is not the first time Mwewa has faced such threats. a few moons ago, he had a nasty encounter with the cadres, he went live on his Facebook page, breaking down in tears and declaring, “I give up.” This moment of vulnerability shocked his viewers, many of whom have followed his fearless exposés for years.

Despite his emotional plea, the threats against Mwewa and his family’s property continue to loom large. His situation highlights the dangers faced by those who dare to expose wrongdoing in a volatile political climate.

These fights with the so-called “angels” may not end well. For Simon Mwewa Lane, the future remains uncertain, and the risks he faces are growing by the day.