— A new currency war has begun, one that threatens to put the global economy on edge.
Phoenix is the only city in Arizona to use the local currency, the peso, to purchase a home, but the move has caused a backlash and has prompted the local sheriff to call for a state of emergency in the state capital.
The peso has become a symbol of the national currency and the value of the U.S. dollar in Phoenix has risen since President Donald Trump’s election in November.
“I think people are scared.
People are not willing to give up their cash for the U of A,” said Michael Dusch, who has owned a house in the Phoenix suburb of Phoenix for 25 years.
Some locals, who have been buying property with cash, are calling the pesos devaluation and a way to avoid paying taxes.
They argue that if the pesoS currency were to be devalued, it would also be a way for the state to help pay for things like roads and schools, as well as provide local jobs and businesses with funds to stay afloat.
As of Friday, the Phoenix Stock Exchange had not reported a decline in the pesowings value, and it’s not clear if the state will impose a ban on cash withdrawals by citizens.
Critics of the move, who say it could undermine the global efforts to stabilize the global financial system, also argue that Arizona’s currency has been used by governments to help stave off economic collapse.
A dollar bill can be bought at a bank in Manila, Philippines.
Dusch said the pesotas value has also risen because of its use by the local police, firefighters and others.
Trump won Arizona by more than a million votes.
He campaigned on an economic message that included plans to bring back jobs and to bring the U .
S. back to its “winning” ways.
His administration has been a lightning rod for criticism, with a report in The New York Times last month claiming that Trump has made payments to foreign governments and business executives through his companies.
After his election, the U