Trump accidentally admits he is not a 'smart' president while discussing dollar value at GENIUS Act event

WASHINGTON, DC: During the celebratory signing of the GENIUS Act in the White House East Room on Friday, July 18, President Donald Trump made headlines for an unexpected reason.

While addressing reporters about the state of the US dollar, Trump, in an effort to contrast his leadership with that of his predecessor, Joe Biden, inadvertently seemed to include himself in a description of poor presidential decision-making. 

Donald Trump mistakenly admits he’s not a ‘smart president’

“No, we’re not going to let the dollar slide. If we have a smart president, you’re never going to let the dollar slide,” Donald Trump said, before adding, “If you have a dummy, that could happen.”

The president went on to criticize former President Biden, blaming him for the decline in the value of the US dollar during his term. “Have you ever asked him about the dollar slide?” he said. “He would have no idea, but we can’t let that ever happen again.”

However, the numbers tell a complex story. After a brief surge in the dollar’s value following Trump’s reelection in November 2024, the currency peaked in mid-January at 109.34 on the ICE US Dollar Index. Since then, it has declined sharply to 98.46, the dollar’s worst start to a new year since 1973.

Though the president didn’t directly call himself “not smart,” many observers pointed to the contradiction between his remarks and current economic trends. “Well, he didn't lie. He said 'If you have a smart president…' He's not, so we don't,” one posted on X.

Another wrote, “Guess we have a dummy by his own metrics.”

One user bluntly admitted, “Trump: ‘If you have a dummy, the dollar could slide.’ Well… since he took office, the US dollar has dropped over 10% against major currencies—the worst first half-year since 1973. So by his own definition… We had a dummy. And he brought charts. Checkmate, genius.”

“Guess the dollar didn’t get the memo on ‘smart leadership,’” another user added. “According to his own rules, we’ve got a real genius here!” a user joked.

Donald Trump touts GENIUS Act as landmark move to make America the crypto capital of the world

The president's remarks came during the signing of the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), a first-of-its-kind federal law aimed at regulating and legitimizing stablecoins.

These digital assets, often backed by commodities like the US dollar or gold, are designed to hold consistent value and reduce volatility compared to other cryptocurrencies.  

The president joked about the name of the bill, telling the crowd, “They named it after me,” prompting laughter. He added, “We worked hard. It’s a very important act, the 'GENIUS Act'. And I want to thank you. This is a hell of an act.”

While signing the GENIUS Act on July 18, the president revisited an earlier pledge, stating, “I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world. And that’s what we've done. And under the Trump administration, this is only going further.”

He added, “Just as I promised last year, the GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoin. This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.”

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