BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Your moral principles guide and enhance your balanced and reasoned perspective, Professor. Thank you as always for your excellent and highly trustworthy guidance.
It's yet to be seen if the U.S. can significantly deleverage their debt to GDP ratio without having public credit created for public or productive purposes.
Truth well spoken. You gave us a concise, but thorough (with some points omitted about the Japanese economy I thought might be relevant) review of the fall of empire. This American has been quite frightened since the turn of 2018/2019. Thank you for sharing your understanding. You did a masterful and frank job of summarizing.
The U.S. is the world's largest debtor, with a NIIP (Net International Investment Position) of -$16 trillion. China (including Hong Kong) is the largest creditor, with a NIIP of $4.3 trillion, followed by Japan, Germany, and Taiwan. The U.S. last had a positive NIIP in 1988 and a trade surplus in 1975. The U.S. debt grows by about $5-7 billion daily, and the trade deficit averages $2-3 billion per day. The US national debt is more than $35 trillion, with 22% of it held by foreign entities. The US also has $40 trillion in unfunded Medicare liabilities and $26 trillion in unfunded Social Security liabilities. The US dollar is the dominant reserve currency, backed by its perceived strength, allowing the US to print unlimited dollars as long as the world maintains trust in it. The US dollar is the backbone of US power, and any actions that undermine confidence in the currency threaten to destabilize its position of dominance. Each unilateral sanction imposed by the US risk damaging the stability and credibility of the US dollar, leading to dire consequences for the nation's power and influence. The US is the only country actively undermining the strength of the US dollar. The freezing of Russia's $300 billion currency reserve by Western governments may lead countries to reconsider investing their funds in US Treasury bonds and finding ways to reduce their use of the US dollar. A significant portion of US dollars is held outside the US, estimated at 60-70% of all US dollars in circulation, due to its status as the dominant reserve currency and wide use in international trade and finance. The one trillion dollar trade deficit of the US is a consequence of being the reserve currency, as a strong dollar makes it difficult for US businesses to export goods and services while simultaneously making it easier for other countries to sell to the US. Countries are expending resources and labor making goods and shipping them to the US in exchange for green pieces of paper. The US is sending back mostly empty containers. The US budget deficit is $1.7 trillion in 2023 which must be paid for by selling more Treasury bonds. The interest on this debt is twice our military budget. The government sells more Treasury bonds to pay the interest on its debt, leading to a cycle of increasing debt. The US printing of dollars has been exporting inflation in other countries for decades, but will eventually increase US inflation. Raising interest rates to fight inflation decreases consumer and business spending, increases the trade deficit, and higher interest payments on government debt. Other countries will respond to the US's rising interest rate by raising their interest rate, risking a global recession. The Plaza Accord addressed this issue in the past, but it will be challenging to implement such measures now. A well-run country collects taxes to fund essential services and infrastructure. In the US political system, wealthy corporations and individuals can lobby for tax breaks. The shortfall in funding for the US government has reached $35 trillion. Instead of collecting taxes from wealthy corporations and individuals, the government pays them interest. The top 10% of earners (36%) and corporations (9%) together contribute 45% of total federal revenue. Banks hold Treasury bonds for their safety, liquidity, regulatory compliance, and potential profitability. When interest rates on Treasury bonds rise sharply, the decrease in existing bond values reduces liquidity and makes it harder for banks to raise cash quickly. This causes depositors to lose confidence, triggering a bank run. In response to the current bank run, the government is issuing Treasury bonds to raise funds to compensate depositors for any lost funds. There are $19 trillion in deposits in US banks. The estimated unrealized loss on US banks' financial assets is $1.94 trillion, while the total size of their equity is $2.1 trillion. SVB had a $15 billion loss, while their capital is $16 billion. Around 2,315 of the 4,800 banks are currently on assets worth less than their liabilities. It's a systemic issue. A similar issue is being played out with risker Mortgage-Backed Securities (MBS) valued at $12 trillion. The new Bank Term Funding Program (BTFP) helps prevent discounted bondholders from taking losses when they must urgently sell them. The BTFP accepts discounted bonds at face value to be used as pledges for loans to inject more money into the economy. Risking more inflation. It's a Ponzi scheme. Ponzi scheme cannot taper. We reached the can and there is no more road.
Great commentary synthesising a broad topic whilst incorporating a brief history to present, i look forward to checking out a book or two. Glad I stumbled across this.
Thank you for the explanation. Your point about the role of central banks is spot on, and their role in the economy is little understood by the vast majority of the population. A good account of their role (and origins) is in the documentary The Money Masters (1996) - freely available on RUclips and a must watch 👍
U$ debt re-payment is $1Trillion per quarter alone, which is greater than U$ defense budget of ~900 billions, which is already more Russia, China, Iran, entire EU all combined. With rapid de dollarization, occurring at increasing speed, Weimar Hyperinflation v10.0 is coming to U$A
The Peter Principle of an individual rising to his/her level of incompetence has been around for a long time, but now perhaps we can now apply this principle to the whole of Mankind.
Richard! I absolutely love your videos, i’ve spent the last month binge watching any and all content I can find of you. You have provided me unfathomable insight to the mechanics of the financial system. Princes of the Yen & Where Does Money Come From? are both so amazing! i’ll be reading them multiple times. Again thank you Professor Richard Werner for always sharing such invaluable perspectives.
Thank you for the information. Didn't mention, The fed now operates with deferred assets or IOUs, and the U.S. Treasury does not receive remittances from the fed / Seigniorage. The taxpayers are essentially subsidizing depository institutions (too keep them from failing) at a higher rate of interest than the yields on Treasury Securities. Obviously, in the U.S. most bank credit created since 2008 was created for speculative or unproductive purposes. Seems like the same type of lending that was a cause of the Subprime mortgage crisis to begin with. Creating a 'unproductive credit creation cycle'?
@@wardosravin The Real Money,Gold.the Gold that the Economics tell us it has no value eventhough the Banks store tons of it for themselves. Dollar or Euro are not money,they are currencies that have no value but are based on faith.Dollar was pegged to Gold for a while but the Gold Standard was not abolished,it was temporarily "removed". Gold fullfills all 3 conditions of being Money. We need to use Gold and Silver again as Money if we don't want to suffer the huge negatives of fiat currency.
US debt is presently at 35.8 trillion. (One trillion every hundred days, as Mike Maloney puts it) What’s also worth following is US unfunded liabilities, which currently is at 220.3 trillion.
the debt is owed to the central bank which is owned by a handful of squillionaires .. so what happens when it cant be paid? what will they get up to is the question that i need an answer to. having more 'money' is nothing but zeros on a spreadsheet.
The energy cartel is strong. The Italian ENI once tried to do a deal to undercut oil suppliers by offering the countries it drillled the oil from a larger percentage of profits. The guy behind it got murdered in a “plane crash”, where the French secret service was suspected
Dear Prof. Werner, could you please clarify: Japan's government-debt to GDP ratio is >250% and almost twice as high as the ratio in the US. If debt-sustainability becomes a topic in global financial markets, the Japanese YEN should be the first currency to trade down and devalue, shouldn't it??
Most public debt in Japan was held domestically. Japan also had current account and trade surpluses. The United States according to the CIA has the largest external debt on earth.
Around 11:20 you mention that dollar is being kept strong on the cost of countries such as Germany and Japan, whose economies are practically being dismantled. Can you explain this mechanism, how is it working? I understand for Germany, destroying North Stream impacted their energy sourcing and prices, which then propagated through the economy and made it less competitive wordwide. Are there any other specific mechanisms that US uses to strengthen its economy and currency against Germany or EU? What about Japan, what specific mechanisms are there used, how is their industry being dismantled in a coordinated and planned way by US? Could you please provide more details?
Hi Professor, Mish brought up some questions on what it would take for the Brick to succeed. It would be nice to hear from you on those points and how difficult they may be to achieve. Or will it simply boil down to a crisis situation expediting them? Thank you. The Brick would need to float freely. The yuan doesn’t. The Brick have to be a genuine reserve currency to achieve widespread use. A functioning Brick-based bond market. This requirement is also for widespread use. A significant desire by individuals to trade in Bricks and accept Bricks rather than local currencies or the dollar. Willingness of China to stop export mercantilism. Trust
How is that called? Debt trap? Third world countries have suffered from this. But now they have an alternative the world bank, with no IMF strings attached.
Gold is priced in USD. What is the mathematical relationship of that price to the US debt? If the USD, in reality is artificially high, would that not also suggest the price of gold is artifically high?
Thanks. I've been thinking along the same lines for some time. This is the first video I've seen that expressly states that the vassal states will be called in to bolster the USD. I don't quite understand why they are prepared to sink their economies and suffer so that the US enjoys life. Is the threat of military action from the US troops in Japan, Germany, SK, Sweden and the rest real? Or are there economic threats and coercion bing used as well? The Europeans are out to "lend" 50 Billion to Zelensky, using Russia's USD reserves as collateral. This will further motivate the Global South to move away from the USD. Zelensky will never be able to repay. Although there are problems if the Global South countries run chronic current account deficits, bilateral CB swaps removes the need for a single currency for trade.
Already is, The U.S. allows (the CCP) China to obtain the contractual rights to resource extraction in countries like Iraq and Afghanistan. If Iran is destabilized, I'm sure the CCP will obtain the contractual rights to extract the oil.
IF our elected to serve AMERICAN people had a backbone, they would lock our little corner of this rock down hard and let the rest of the world fend for itself. Then, MAYBE then, those we elected to do what is right and good for YOU, ME AND OUR COUNTRY before we continue to tell others how to run theirs. MAYBE, they would stop siding with the corpeRAT world and its riches instead of giving them what little is left over the REST OF US GET TO SHARE.
If BRICS want to use another currency rather than the US dollar why not use the Chinese yuan? China could print more currency and make it available internationally for use not only in all BRICS countries plus the international community.
Maybe the yuan is to become the defacto reserve currency, but China doesn't aspire to. It doesn't want to maintain 800 military bases around the world.
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This is just propaganda. If you look at how the dollar trades against Chinese currency, they are trading at similar ratio that they were trading at 5 years ago.
Brave and brilliant Dr. Wener
Always find your commentary very interesting. You don't candy coat or beat around the bush. Thank you for the video.
So many people not listening to this man an it's a prob..he knows the financial systems very well
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Vielen Dank Werner für deine Mühe
The best economist
Thank you, Dr. Werner. In such chaotic times, being the compass for the clueless is a great form of charity.
Your moral principles guide and enhance your balanced and reasoned perspective, Professor. Thank you as always for your excellent and highly trustworthy guidance.
PROFESOR WERNER ❤
Ja, wir leben in der Tat in spannenden Zeiten, vielen Dank 🙏
Watched it 5 times. Brilliant explanation..
Can't wait to see how all this plays out. Great Talk👍
Be careful what you wish for. .
It's yet to be seen if the U.S. can significantly deleverage their debt to GDP ratio without having public credit created for public or productive purposes.
Thank you, good sir!
Wow! Crystal clear. Thank you 🙏
Truth well spoken. You gave us a concise, but thorough (with some points omitted about the Japanese economy I thought might be relevant) review of the fall of empire. This American has been quite frightened since the turn of 2018/2019.
Thank you for sharing your understanding. You did a masterful and frank job of summarizing.
Great video Werner. 🙏
The U.S. is the world's largest debtor, with a NIIP (Net International Investment Position) of -$16 trillion. China (including Hong Kong) is the largest creditor, with a NIIP of $4.3 trillion, followed by Japan, Germany, and Taiwan. The U.S. last had a positive NIIP in 1988 and a trade surplus in 1975. The U.S. debt grows by about $5-7 billion daily, and the trade deficit averages $2-3 billion per day.
The US national debt is more than $35 trillion, with 22% of it held by foreign entities. The US also has $40 trillion in unfunded Medicare liabilities and $26 trillion in unfunded Social Security liabilities.
The US dollar is the dominant reserve currency, backed by its perceived strength, allowing the US to print unlimited dollars as long as the world maintains trust in it. The US dollar is the backbone of US power, and any actions that undermine confidence in the currency threaten to destabilize its position of dominance. Each unilateral sanction imposed by the US risk damaging the stability and credibility of the US dollar, leading to dire consequences for the nation's power and influence. The US is the only country actively undermining the strength of the US dollar. The freezing of Russia's $300 billion currency reserve by Western governments may lead countries to reconsider investing their funds in US Treasury bonds and finding ways to reduce their use of the US dollar.
A significant portion of US dollars is held outside the US, estimated at 60-70% of all US dollars in circulation, due to its status as the dominant reserve currency and wide use in international trade and finance. The one trillion dollar trade deficit of the US is a consequence of being the reserve currency, as a strong dollar makes it difficult for US businesses to export goods and services while simultaneously making it easier for other countries to sell to the US. Countries are expending resources and labor making goods and shipping them to the US in exchange for green pieces of paper. The US is sending back mostly empty containers.
The US budget deficit is $1.7 trillion in 2023 which must be paid for by selling more Treasury bonds. The interest on this debt is twice our military budget. The government sells more Treasury bonds to pay the interest on its debt, leading to a cycle of increasing debt. The US printing of dollars has been exporting inflation in other countries for decades, but will eventually increase US inflation. Raising interest rates to fight inflation decreases consumer and business spending, increases the trade deficit, and higher interest payments on government debt. Other countries will respond to the US's rising interest rate by raising their interest rate, risking a global recession. The Plaza Accord addressed this issue in the past, but it will be challenging to implement such measures now.
A well-run country collects taxes to fund essential services and infrastructure. In the US political system, wealthy corporations and individuals can lobby for tax breaks. The shortfall in funding for the US government has reached $35 trillion. Instead of collecting taxes from wealthy corporations and individuals, the government pays them interest. The top 10% of earners (36%) and corporations (9%) together contribute 45% of total federal revenue.
Banks hold Treasury bonds for their safety, liquidity, regulatory compliance, and potential profitability. When interest rates on Treasury bonds rise sharply, the decrease in existing bond values reduces liquidity and makes it harder for banks to raise cash quickly. This causes depositors to lose confidence, triggering a bank run. In response to the current bank run, the government is issuing Treasury bonds to raise funds to compensate depositors for any lost funds. There are $19 trillion in deposits in US banks. The estimated unrealized loss on US banks' financial assets is $1.94 trillion, while the total size of their equity is $2.1 trillion. SVB had a $15 billion loss, while their capital is $16 billion. Around 2,315 of the 4,800 banks are currently on assets worth less than their liabilities. It's a systemic issue.
A similar issue is being played out with risker Mortgage-Backed Securities (MBS) valued at $12 trillion.
The new Bank Term Funding Program (BTFP) helps prevent discounted bondholders from taking losses when they must urgently sell them. The BTFP accepts discounted bonds at face value to be used as pledges for loans to inject more money into the economy. Risking more inflation.
It's a Ponzi scheme. Ponzi scheme cannot taper. We reached the can and there is no more road.
I like how you mentioned that the U.S. does indeed export empty shipping containers and cardboard to their 'trading partners'. 😆
75% of spending is to pay treasury debt? Cant be
Well, we do put a pyramid on the dollar.
"We reached the can and there is no more road!"
LOL I would argue "The Titanic barrel has no more road to roll".
Great commentary synthesising a broad topic whilst incorporating a brief history to present, i look forward to checking out a book or two. Glad I stumbled across this.
Thank you for the explanation. Your point about the role of central banks is spot on, and their role in the economy is little understood by the vast majority of the population.
A good account of their role (and origins) is in the documentary The Money Masters (1996) - freely available on RUclips and a must watch 👍
Respect for all your work.
Untangling the complexity has been greatly appreciated.
Thank you for explaining the geopolitical and financial status in digestible terms and in a short video ….👍🙏
Shalom Mr.Werrner from your fan in Israel. Thank you again for the book recommendation.
Brilliant and truthful analysis, thank you 👍
Danke.
Debt jubilee! Stop this theft now!
U$ debt re-payment is $1Trillion per quarter alone, which is greater than U$ defense budget of ~900 billions, which is already more Russia, China, Iran, entire EU all combined.
With rapid de dollarization, occurring at increasing speed, Weimar Hyperinflation v10.0 is coming to U$A
The Peter Principle of an individual rising to his/her level of incompetence has been around for a long time, but now perhaps we can now apply this principle to the whole of Mankind.
😂😂😂😂😂😂so good!
I suggest it’s more of a matter of karma with evil getting its just dues…
Please don't confuse yourself between East and West.
Richard! I absolutely love your videos, i’ve spent the last month binge watching any and all content I can find of you. You have provided me unfathomable insight to the mechanics of the financial system. Princes of the Yen & Where Does Money Come From? are both so amazing! i’ll be reading them multiple times. Again thank you Professor Richard Werner for always sharing such invaluable perspectives.
Ghaddafi also wanted to unite the North African states. Poor guy got demolished. Libya has been poor since
Excellent analysis.
Super, vielen Dank!!
Thank you for the information.
Didn't mention, The fed now operates with deferred assets or IOUs, and the U.S. Treasury does not receive remittances from the fed / Seigniorage.
The taxpayers are essentially subsidizing depository institutions (too keep them from failing) at a higher rate of interest than the yields on Treasury Securities.
Obviously, in the U.S. most bank credit created since 2008 was created for speculative or unproductive purposes. Seems like the same type of lending that was a cause of the Subprime mortgage crisis to begin with.
Creating a 'unproductive credit creation cycle'?
always compelling
Politicians print wealth for their friends, and manufacture provety for the working class !
All countries should unite against economic terrorism by the US Dollar....
And what currency would you prefer?
@@wardosravin return to the real money,Gold not Currency .no matter what currency you use,Gold will outlive it.
@@gamestriker4538 and what will you earn?
@@wardosravin The Real Money,Gold.the Gold that the Economics tell us it has no value eventhough the Banks store tons of it for themselves.
Dollar or Euro are not money,they are currencies that have no value but are based on faith.Dollar was pegged to Gold for a while but the Gold Standard was not abolished,it was temporarily "removed".
Gold fullfills all 3 conditions of being Money.
We need to use Gold and Silver again as Money if we don't want to suffer the huge negatives of fiat currency.
@@gamestriker4538 and how do you suppose global trade possibly operates with physical gold in this modern era?
Excellent insight, thanQ
excellent content
Also note the record arms exports of the US! And the customers are not necessarily buying voluntarily.
Politicians. Won’t talk about it . Though.
Because they are controlled.
I RECOMMEND TO PEOPLE TO BUY METALS PRECIOUS AND GET OUT FROM BANKS AND FIAT CURRENCY ASSETS
We are hedged accordingly
thank you prof werner #peacenotwar
Cool jacket dude, and a really useful talk.
3 things you will not hear on mainstream news: US debt, record price of gold, BRICS.
Luckliy some people cover these topics...
US politicians and media believe that "if you don't talk about problems, then the problems don't exist", genius!
The expansion of the financial economy rather than the real economy will invite the wrath of God.
Painful for the future of our lives 💔
Like the lasts days of Román empire
Hi Richard 👋
US debt is presently at 35.8 trillion.
(One trillion every hundred days, as Mike Maloney puts it)
What’s also worth following is US unfunded liabilities, which currently is at 220.3 trillion.
Thanks for an insight…
excellent video
Who has Lent the money? Those are big creditors!
They lend to each other. Cayman Islands, Belgium are huge lenders, but very opaque, no way of knowing the actual lender.
Online it says France joined NATO in 1949, so way way before they asked for the gold back?
Thank you @wernereconomics - always enjoy your commentary and analysis
the debt is owed to the central bank which is owned by a handful of squillionaires .. so what happens when it cant be paid? what will they get up to is the question that i need an answer to. having more 'money' is nothing but zeros on a spreadsheet.
Those handful own most of everything, its obfuscated but they own it all and we owe debt.
The energy cartel is strong. The Italian ENI once tried to do a deal to undercut oil suppliers by offering the countries it drillled the oil from a larger percentage of profits. The guy behind it got murdered in a “plane crash”, where the French secret service was suspected
Dear Prof. Werner, could you please clarify: Japan's government-debt to GDP ratio is >250% and almost twice as high as the ratio in the US. If debt-sustainability becomes a topic in global financial markets, the Japanese YEN should be the first currency to trade down and devalue, shouldn't it??
Most public debt in Japan was held domestically. Japan also had current account and trade surpluses.
The United States according to the CIA has the largest external debt on earth.
Very interesting
How long until the fighting starts ?
Around 11:20 you mention that dollar is being kept strong on the cost of countries such as Germany and Japan, whose economies are practically being dismantled. Can you explain this mechanism, how is it working? I understand for Germany, destroying North Stream impacted their energy sourcing and prices, which then propagated through the economy and made it less competitive wordwide. Are there any other specific mechanisms that US uses to strengthen its economy and currency against Germany or EU? What about Japan, what specific mechanisms are there used, how is their industry being dismantled in a coordinated and planned way by US? Could you please provide more details?
Following China, Japan, UK,
Luxemburg is the 4th largest foreign holder of US bonds.
The Fed will start buying the treasuries and then they’ll give the interest payments back to US gov 😂
Schweinhund
Fritz Stern: 'Gold und Eisen. Bismarck und sein Bankier Bleichröder' (1978)
Daniel Friedrich List: 'The National System of Political Economy' 1837
King =FSB. Castle=BIS. Moate=Headquarters agreement with Switzerland.
Hi Professor, Mish brought up some questions on what it would take for the Brick to succeed. It would be nice to hear from you on those points and how difficult they may be to achieve. Or will it simply boil down to a crisis situation expediting them? Thank you.
The Brick would need to float freely. The yuan doesn’t.
The Brick have to be a genuine reserve currency to achieve widespread use.
A functioning Brick-based bond market. This requirement is also for widespread use.
A significant desire by individuals to trade in Bricks and accept Bricks rather than local currencies or the dollar.
Willingness of China to stop export mercantilism.
Trust
How is that called? Debt trap? Third world countries have suffered from this. But now they have an alternative the world bank, with no IMF strings attached.
Dr, where does your love for them people come from?
I think America would be great if not for the government.
I'm curious about who the debt is owed to.
everybody outside of USA.
KEEP GOLD???
They are not goin to pay off their debt so it makes no difference how much debt the accumulate
Gold is priced in USD. What is the mathematical relationship of that price to the US debt? If the USD, in reality is artificially high, would that not also suggest the price of gold is artifically high?
You can't do economics without politics - No one should see war as an easy way out of an economic crisis.
Lower income are less affected because they're closer to zero.
21% bric card hohoho🤣🤣🤣Putin owes 2trill in gold as restitution😂
Could this spell this death knell for the all almighty US$? 😂 BRICS nations taking heeds and moving away from this toxic currency. 😅
Pls comment more of what's going on with the dollar and in Europe here on YT
The debt explosion explains Google Tesla Amazon MSFT market caps!
Truth? How is this channel not canceled?
The national debt is real. Is American GDP real? To what extent is the now endless printing of money affecting the GDP?
Thanks.
I've been thinking along the same lines for some time. This is the first video I've seen that expressly states that the vassal states will be called in to bolster the USD. I don't quite understand why they are prepared to sink their economies and suffer so that the US enjoys life. Is the threat of military action from the US troops in Japan, Germany, SK, Sweden and the rest real? Or are there economic threats and coercion bing used as well?
The Europeans are out to "lend" 50 Billion to Zelensky, using Russia's USD reserves as collateral. This will further motivate the Global South to move away from the USD. Zelensky will never be able to repay.
Although there are problems if the Global South countries run chronic current account deficits, bilateral CB swaps removes the need for a single currency for trade.
SO SO SO , WHAT IS USA LEADERS GOING TO DO ???
DEFAULT INTEREST PAYMENT???
NOT GOING TO PAY?
AVOID USD???? ... GOOD ADVISE????
America will exist as à subsidiary of china b r u c s😂😂😂❤❤
Already is, The U.S. allows (the CCP) China to obtain the contractual rights to resource extraction in countries like Iraq and Afghanistan.
If Iran is destabilized, I'm sure the CCP will obtain the contractual rights to extract the oil.
Mohammed El Erian sees the same thing, but he seems not ve worried about it
As an aside Richard what is happening with your community bank ?
Can you discuss the US bonds?
Triffen Dilemma/MMT , 🔥🍿.
Yes there is a debt issue, but the real issue is that $600bn of China’s money had been stolen. Please send our money back.
IF our elected to serve AMERICAN people had a backbone, they would lock our little corner of this rock down hard and let the rest of the world fend for itself.
Then, MAYBE then, those we elected to do what is right and good for YOU, ME AND OUR COUNTRY before we continue to tell others how to run theirs.
MAYBE, they would stop siding with the corpeRAT world and its riches instead of giving them what little is left over the REST OF US GET TO SHARE.
If BRICS want to use another currency rather than the US dollar why not use the Chinese yuan? China could print more currency and make it available internationally for use not only in all BRICS countries plus the international community.
Maybe the yuan is to become the defacto reserve currency, but China doesn't aspire to. It doesn't want to maintain 800 military bases around the world.
No chance. Reserve currency requires trust. China would also destroy their economy (falling exports).
ANYTHING NEW??? LOL!!
Do you think there's something to the "Operation Sandman" theory?
A finance guy wearing a corduroy suit... Did I spell that right? Anyways, I think I should write that into a novel.
Please make a vedio about UK sir
It's all make believe.
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This "minority" of Western countries and allies represent almost all global GDP. It's not like China and 100 poor countries can make a difference.
Lol. G7 are gping to be irrelevant soon. I dont even think they have a quarter of global gdp
@@ryanjuguilon213 Sure. China's aircraft carriers will take of business.
China investments outside of treasuries from what i can tell - seems slow
This is just propaganda. If you look at how the dollar trades against Chinese currency, they are trading at similar ratio that they were trading at 5 years ago.
What do u think about xrp?