Since the dollar was created in 1792, U.S. presidents and their families have generally been content with the status quo of effectively giving the national government a monopoly on issuing currency and outlawing the use of foreign currency.
Consider the launch of the dollar the country’s Initial Coin Offering. Back when the U.S. government was hustling to surpass the dominance of the Spanish pieces of eight then in common circulation throughout the country.
When presidents have said anything about the dollar itself, it was generally to reiterate the U.S. government’s “strong dollar” policy.
That continued more or less uninterrupted through 46 presidencies — until last March, when a company partly owned by President Donald Trump and his family began to market an alternative to the dollar, a cryptocurrency dubbed “USD1.”
Now, the president’s two oldest sons are telling CNBC on the sidelines of a day-long crypto event they hosted why that should change.
