Thank you Richard for being such an amazing teacher… I am a middle aged self employed woman and what I learned about economy from you in short period of time is amazing.. thank you for your hard work 🙏🏼
The American Oligarchs have strangled all other classes, especially the middle classes, to the point that the Empire is crumbling away. And those who can, might look at the possibility, of literally, leaving or relocating to another country.
Part of the US dollar problem is how is preys on its friends. The NZ dollar started off at more or less par. Now US says it is oonly worth less than 50cents so they get our goods for less than half price while paying more than double for US products. Have you ever wondered why more trade is being diverted to other countries? It would make more sense for countries like us to dump the US dollars and join brics.
BRICS is looking also at a 3rd option and they are already using it, and that is an EXCHANGE system where one country sends a product to the second country and in return different goods of equivalent value are sent to the first country. Basically a barter system where no currencies are actually changing hands.
The reason why there is money is two fold. One, the barter system is a completely untenable system for anything other than basic goods in micro economies. Two, you can not borrow barter goods. Without borrowing, you can not do any long term projects and you can not grow your economy. So barter system is a drive to the bottom.
Oh good. 55 yr old GenXer here. Thoroughly enjoyed your last presentation. Thank you for your knowledge and insight on what the hell we are going through. 🇺🇲🌐🇺🇲🌐
No country with such a huge self-inflicted national debt can be considered to be truly rich. Wall Street Weasels HAVE to be properly regulated--and that did not happen in the past to any great extent--and it sure is not going to happen in the future.
we’re still 50 years ahead of our. competition. and i wouldnt worry about it if you have assets. If you only have your labor and some cash, youre screwed
BRICS countries have the foresight to replace a toilet paper like value paper currency with real money. US is printing money with impunity, this is the price they have to pay for debasing their own currency.
06:25 He speaks truth. If I say the same thing in canada, I'm called a kon speer a see theo risst and a ray sist. Thousands of apartments, condos, and houses continue to sit empty in the city I'm in, while the number of homeless seniors and people of all ages who have no addictions or mental health issues continues to skyrocket... because foreign owners here are _not_ selling. They're holding on, and gobbling up even more properties, spurred on by interest free loans for houses, cars, businesses... loans only available to them.
My respect and appreciation to everyone. The reason for the economic problem and debts in America, Canada, and Europe is the failed financial system, and the reason is the major companies that worked for their own interests. They stole everything and sent it to other countries and moved their companies to China and Asia. They caused the destruction of the economies of America, Canada, Europe, and the world that relied on this. Failed system Regarding the financial system, the digital currency, this system is not a successful system, and the intention is to dominate and control the money. The digital currency works via the Internet. When the Internet stops, it will be a devastating disaster for everyone. It is an unsuccessful system, and the intention is to control the world.
Yeah all of the BRICS are net exporters so which one of them is going to take the economic hit of running a persistent trade deficit for them to replace the USD as reserve currency? Certainly not China, which is larger than the rest of them combined, so what, will the BRIS reduce their exports and therefore their employment? Will they put themselves into a situation like Greece where if they are less productive than another country their currency is tied to, it destroys their prosperity? These are the questions that need to be answered before a BRICS currency is even feasible in theory .
When trump does not like the Chinese goods then he talks about the tariffs but if other countries don’t like the dollar then they should have the right to using their own currencies that’s normal isn’t it ?
I think it's more a matter of paying attention to what the BRICs nations are doing moving forward and what currency they are going to start using amongst one another. A new economy is emerging. Global citizens need to take notice.
Russia has Assets in the United States. One of them is soon to be in the White House and the rest of the assets will be his cabinet cabinet members and whatever other people who had ties to Russia just like during 2016 when Trump's campaign manager who had been working in Russia for two decades anointed himself the campaign manager because of all of his connections to Russia. Sweeten the deal he said he would not need to be paid. Because he full well knew that if things went right his position would make him a hell of a lot more money than any salary he might take to be campaign manager for Trump.
Modern Monerary Theory tells us you can't think of US debt as real debt. We can print dollars and give more dollars around the world. They need dollars and we print more dollars. If the world need less dollars we roll over a decimal point in accounting and the problem is solved. Accounting errors don't equate to disruption.
Quite. Since the end of WW2, the US has been able to borrow much more than a normal country precisely because the rest of the world was using its currency. That huge pool of US currency being traded meant low risk for the USD, and low risk means much cheaper interest rates, so the US could borrow and spend much more than it produced. You take that away, the US will not be able to service the spike in interest rates, and will have to either default on its debt, or print lots of money to pay it off. The result is the same - hyperinflation.
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
Lol, this guy. He’s always THE marxist economist, because he’s the only marxist economist! Even the chinese economists arent marxists, only the CCP leadership and this lonely fellow…
The US dollar does 90% of world currency trades. Demographically the US is adding population every year and because of immigration, is not aging as fast as Russia, China, Europe or Japan. Demographically, China and Russia is aging, are under educated and their population is shrinking. There is a lot of evidence that shows that this is Russia's last chance to have a standing army that could be a conventional threat to Europe. The BRICS all have the denial of human rights and the rule of law. There is no way that they will ever come to dominate the world.
Thank you Richard for being such an amazing teacher… I am a middle aged self employed woman and what I learned about economy from you in short period of time is amazing.. thank you for your hard work 🙏🏼
Dr.Wolff thanks for your education on economics i listen to you daily to enlighten myself
Very well explained, thank for your insight into the BRICS impact on dollar.
Too many sanctions. Too many confiscations. Too many annual budget deficits. Too much money printing. Too much arrogance.
ARROGANCE
The American Oligarchs have strangled all other classes, especially the middle classes, to the point that the Empire is crumbling away. And those who can, might look at the possibility, of literally, leaving or relocating to another country.
Well said, the US and the EU called it "freeze" instead of steal Russia's assets.
Part of the US dollar problem is how is preys on its friends.
The NZ dollar started off at more or less par. Now US says it is oonly worth less than 50cents so they get our goods for less than half price while paying more than double for US products.
Have you ever wondered why more trade is being diverted to other countries?
It would make more sense for countries like us to dump the US dollars and join brics.
NZ DEVALUED their currency that's why it's now worth HALF.
You are right NZ backed the wrong horse at the trots, while WINSTON PETERS would go crazy if NZ turned to BRICS.........
Early 1900s United Kingdom never thought it’ll be replaced. Think about it
All empires end. All.
Nothing else to think about.
BRICS is looking also at a 3rd option and they are already using it, and that is an EXCHANGE system where one country sends a product to the second country and in return different goods of equivalent value are sent to the first country. Basically a barter system where no currencies are actually changing hands.
Most of their leaders have real estate or stock investment in UK or USA.
The reason why there is money is two fold. One, the barter system is a completely untenable system for anything other than basic goods in micro economies. Two, you can not borrow barter goods. Without borrowing, you can not do any long term projects and you can not grow your economy. So barter system is a drive to the bottom.
@@behruz1535 with high crime rate it’s coming to an end
@@behruz1535 and they are selling them and reinvest in the BRICS countries which is the future.
@@jeffmason2691 i am talking about leaders and ministries corruption funds.
Richard always on the spot.BRICS are getting stronger and it will happen soon maybe 5 years or more.
Yes, just long enough for Trump to completely destroy U.S. strength and credibility.
I believe it will be faster than that now that the orange baboon is in charge soon.
Oh good. 55 yr old GenXer here. Thoroughly enjoyed your last presentation. Thank you for your knowledge and insight on what the hell we are going through. 🇺🇲🌐🇺🇲🌐
What the hell indeed.
Oh....US capital markets are SCARED. LMAO
"500 Years Of Western Dominance Are Coming To A Close End." ~ Sergei Lavrov, Russian foreign minister 🤔
Said the guy whose country is getting its ass kicked in Ukraine. The Russian Ruble is worth ONE U.S. Cent and FALLING.
When the dollar goes down...its OVER...
is already down ⬇️
It will only be down for America, the reality is your politicians have been killing America for decades. 😊
Argentina all over again.
30 years ago there was no Euro
❤Thank you very much for your TRUTHFUL advice and professional insight Professor Professor Wolff
It's unfair and not good for the world's countries to pay extra money to US whenever in trade, it's understandable. Thing is changing that is life !!
You don't know what you are talking about.
No country with such a huge self-inflicted national debt can be considered to be truly rich. Wall Street Weasels HAVE to be properly regulated--and that did not happen in the past to any great extent--and it sure is not going to happen in the future.
A well spoken oracle who speaks of a never coming.
Actually, in the recent meeting of BRICS, they decided they were not going to create their own currency anytime soon
True, so one currency can not ruin others. It’s a system of equality!
Putin told all the attendees they had to pay for everything while in Kazan in U.S. Dollars. Rubles were unacceptable. THAT tells you everything.
This guys doesn't care about facts, just selling us hate for money. For over 40 years he has been talking about the fall of the us
When this transpires the result will be hyperinflation in the USA.
Trump tariffs will speed this up
we’re still 50 years ahead of our. competition. and i wouldnt worry about it if you have assets. If you only have your labor and some cash, youre screwed
@@glennmorris25😂 watch Inside China business ❤ or go visit to see whos ahead 😂😂😂
All good things come to an end.
And also bad things like Capitalism.
NO GOOD things come to demise
@@SagittarianArrows Such as?
That is right Professor
Sound money or no money at all ... Usury should be outlawed.
BRICS countries have the foresight to replace a toilet paper like value paper currency with real money. US is printing money with impunity, this is the price they have to pay for debasing their own currency.
Thanks so much for the honest excellent advises! Richard Wolff is the best!
No one knows the future
I do.
06:25 He speaks truth. If I say the same thing in canada, I'm called a kon speer a see theo risst and a ray sist.
Thousands of apartments, condos, and houses continue to sit empty in the city I'm in, while the number of homeless seniors and people of all ages who have no addictions or mental health issues continues to skyrocket... because foreign owners here are _not_ selling. They're holding on, and gobbling up even more properties, spurred on by interest free loans for houses, cars, businesses... loans only available to them.
My respect and appreciation to everyone. The reason for the economic problem and debts in America, Canada, and Europe is the failed financial system, and the reason is the major companies that worked for their own interests. They stole everything and sent it to other countries and moved their companies to China and Asia. They caused the destruction of the economies of America, Canada, Europe, and the world that relied on this. Failed system Regarding the financial system, the digital currency, this system is not a successful system, and the intention is to dominate and control the money. The digital currency works via the Internet. When the Internet stops, it will be a devastating disaster for everyone. It is an unsuccessful system, and the intention is to control the world.
Lena Petrova on YT has lot of info on the economy and BRICS too. 💡
Yeah all of the BRICS are net exporters so which one of them is going to take the economic hit of running a persistent trade deficit for them to replace the USD as reserve currency? Certainly not China, which is larger than the rest of them combined, so what, will the BRIS reduce their exports and therefore their employment? Will they put themselves into a situation like Greece where if they are less productive than another country their currency is tied to, it destroys their prosperity? These are the questions that need to be answered before a BRICS currency is even feasible in theory .
When trump does not like the Chinese goods then he talks about the tariffs but if other countries don’t like the dollar then they should have the right to using their own currencies that’s normal isn’t it ?
Central Banks do not work that way.
How can I Get BRICS
I think it's more a matter of paying attention to what the BRICs nations are doing moving forward and what currency they are going to start using amongst one another. A new economy is emerging. Global citizens need to take notice.
Invest in Brics etfs, invest in Brics stocks and countries
@@BT4EVER silver and gold are viable investments too
Home Depot.
brics don't want you. Stay in your lane.
Don't worry about it! Trump will fix it! Ofcourse I'm joking! 😂😂😂
Impossible the reaction from the United States would be ungodly.
A lotta countries around the world will be celebrating 💯
Thank you that's very interesting I didn't know that the US had assets in Russia
Russia has Assets in the United States. One of them is soon to be in the White House and the rest of the assets will be his cabinet cabinet members and whatever other people who had ties to Russia just like during 2016 when Trump's campaign manager who had been working in Russia for two decades anointed himself the campaign manager because of all of his connections to Russia. Sweeten the deal he said he would not need to be paid. Because he full well knew that if things went right his position would make him a hell of a lot more money than any salary he might take to be campaign manager for Trump.
🙋🏽♀️ professor Wolff
Yes its replacing but not in few decades.
And when the poor get to be to many in America, something terrible will happen.
I hear that BRICS already had $72 trillion in gold and silver
Modern Monerary Theory tells us you can't think of US debt as real debt. We can print dollars and give more dollars around the world. They need dollars and we print more dollars. If the world need less dollars we roll over a decimal point in accounting and the problem is solved. Accounting errors don't equate to disruption.
😂😂😂
The Mark of the Beast is on the way
How much should we be worried if dollar will not be leading currency?
Quite. Since the end of WW2, the US has been able to borrow much more than a normal country precisely because the rest of the world was using its currency. That huge pool of US currency being traded meant low risk for the USD, and low risk means much cheaper interest rates, so the US could borrow and spend much more than it produced. You take that away, the US will not be able to service the spike in interest rates, and will have to either default on its debt, or print lots of money to pay it off. The result is the same - hyperinflation.
Go with Dollar only
3:55 bs
I have a couple of dollars in my pocket and I'm going to save it to wipe my ass in the near future 😅
Looks like it's time to invest in crypto.
Which countries would hold on to the US dollar as reserves when the US can take it at any time? 😂😂😂😂😂
Watch Inside China business ❤
I read, Gold Reserves and there's a "Crypto Currency" (?)
BRICS
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?
Seems like the trump regime is going to reek havoc on 🌎 😢. ✌️world.
go brics！ go
I sold all my dollars
ALL 5 of them? Congratulations! I hope you bought Rubles Comrade. LOL!
OPERATION SANDMAN
Nonsense
First up in here.
How exciting and what an achievement in this day & age.
@gegwen7440
I want to be nice, I'll be vague and discreet... That won't be the LAST THING THAT I COULD BE FIRST "UP IN"... at least for 1 day! 🤔🤔🤔🤔🤔🤔
We are gonna end up like Argentina.
Mexico should join brics
Rick has no neck.
BS
Lol, this guy. He’s always THE marxist economist, because he’s the only marxist economist! Even the chinese economists arent marxists, only the CCP leadership and this lonely fellow…
XRP
This is sad to hear. Bring every manufacturing job we can, back to the states.
Wont solve the problem because the prices for goods and service will only increase while the US standards of living continue to go down.
dude you are old.
The US dollar does 90% of world currency trades. Demographically the US is adding population every year and because of immigration, is not aging as fast as Russia, China, Europe or Japan. Demographically, China and Russia is aging, are under educated and their population is shrinking. There is a lot of evidence that shows that this is Russia's last chance to have a standing army that could be a conventional threat to Europe. The BRICS all have the denial of human rights and the rule of law. There is no way that they will ever come to dominate the world.
Hahaha, great joke! you are really funny, why not become a comedian?
@@zilvente The punch line was literal, not figurative. China and Russia are in demographic collapse. Whether you love the U.S or not, this is a fact.
@@zilvente Facts Comrade. FACTS.
Go on, keep parrotting nonsense, one very ignorant self ego loser.
@@besomewheredosomething😂😂😂 watch Inside China business and Traveling with Russell ❤ and Rafa goes around
US dollars become toilet paper in the future?
Too stiff, not soft enough.
The dollar is particularly uninteresting because its value is falling quickly. That's why I tell everyone to buy gold if they have a lot of cash.
Not at all. If you want to see a falling currency look at the Russian Ruble. One Ruble is worth ONE U.S. Cent. 10 years ago it was 10 Rubles to $1.
@@TrumpShouldBeInPrisonwatch Traveling with Russell ❤ and Expat american 😊
US dollars become toilet paper in the future?
Over printed fake US paper good dollar will come to be a toilet papers soon.
already is. Adopt the ruble or suffer the consequences.