The End of the Dollar Hegemony with Nic Carter
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- Опубликовано: 24 июл 2024
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Nic Carter is a Partner at Castle Island Ventures and co-founder and Chairman of Coin Metrics. In this interview, we discuss the seizure of Russian Central Bank assets by the G7, the demise of US hegemony, and a multipolar multi-reserve world.
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TIMESTAMPS:
00:00:00 Introduction
00:04:13 Economic canceling of Russia
00:09:34 G7 Seizure of Russian reserves
00:19:04 Commodity and human flourishing
00:27:55 Bitcoin and gold
00:31:56 Death knell for treasuries
00:43:12 Multipolar multi-reserve world
00:52:14 Wavering credibility of US dollar
00:59:15 The demise of US hegemony
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“Right now the integrity of the dollar is in question, people don’t trust US power, US is withdrawing from the international sphere, the international institutions we set up in 1944 are fraying; nobody really trusts them anymore.”
- Nic Carter
Nic Carter is a Partner at Castle Island Ventures and co-founder and Chairman of Coin Metrics. In this interview, we discuss the seizure of Russian Central Bank assets by the G7, the demise of US hegemony, and a multipolar multi-reserve world.
- - - -
Whilst it is arguable whether America’s geopolitical reach can be classed as an empire, the decline of its hegemonic power is compared to the passing of great empires of the past. Such analysis shows that there are no fixed dates to assign to the actual fall of empires; declines are marked by a prolonged unwinding of influence and cohesiveness.
Nevertheless, the atrophying of empires are signposted by critical dates: the sacking of Rome by the Visigoths in 410; the humiliation of Britain caused by the 1956 Suez Crisis; the symbolic impact on the USSR of the fall of the Berlin wall on November 9th 1989.
Currently, we are living through equally tumultuous times, and February 26th 2022 may be one such date for the history books. It was when the G7, led by the US, seized $630B of Russia’s foreign reserves.
With the grim humanitarian impacts of the Ukraine Russia conflict being witnessed on a daily basis, this seemed like an appropriate non-violent measure. However, its scale and likely impact is and will be unprecedented.
The role of the US dollar has been eroded over the past few decades as economic sanctions have been increasingly deployed as a coercive tool of power. Nevertheless, the G7 freezing Russian access to its foreign assets is a crossing the Rubicon moment. No longer will the US dollar be a unifying store of value across the world. The ramifications are huge.
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Nic's insights are outstanding. Glad to see him back on the pod. Looking forward to next time.
this has quickly turned into my favorite podcast. excellent episode.
Yeah, he used to be a total NPC SJW communist. He's come a long way with his podcast since the bad old days. This is actually very high praise. Few people can truly change.
@@ra803g6 i have changed with him. and its because of BTC
Loving the quality of videos (and sound).. it’s like the good old “RealVision” days, but better 👍
Wonderful interview! Nic's deep understanding of economics and ways to explain complex principles, like crowding-out, was great to listen to.
This is one of the best interviews I’ve ever heard! Nic has an incredible way of articulating macro economics in a way that’s digestible. Mad respect for you Nic as a thought leader in this space!
Nic is such a gem! Always a pleasure listening to his conversations;
One of the best hours of discussion and outlook on the current state of world geopolitics and economics, thanks Peter and Nic!
"Liability-impregnated store of value" Nic Carter Great phraseology!
I am on board with a lot of what Nic says but the 3rd pole world of bitcoin or crypto can only exist if it has a military large enough to repel other nations. What people aren't recognizing about the US is that the US treasury markets aren't risk free because they followed the "rules based order", they are risk free because the US military is the most powerful in the world (as demonstrated by its $750Bn/yr budget). If the US sees other nations start to divest and present an alternative, make no mistake, the US state dept will have no problem exercising its own "special operation" to deter/destroy anyone who dares challenge its hegemony. That's why China is a threat because China is the same size geographically as the US with an economy that is the only one large enough to be competitive and it has 1.4Bn people with a military that is growing. That's why people would be willing to move towards China, not because of the "trust" they may have using its markets. The largest "security" of a country is its military, the size of its population, and the size of its economy hence why countries always try to expand their influence. At the end of the day, in the world of multi-polar power geopolitics, might makes right.
Actually, there is another view point that have been raised by department of defense for a while that the current reserve system needs to change if we want to reshore manufacturing as the current system forced us to run perpetual deficits in order to export USD for the world to use and have been drawing down our manufacturing base - it’s a matter of National security to reshore these manufacturing.
You need to watch Jason Lowery’s interviews. What you don’t understand is proof of work IS the power projection/defense force for digital monetary property. Kinetic force/militaries are for protecting physical assets, bitcoin mining which by definition uses energy is how claim to monetary property is defended. THIS is why any crypto asset that is not proof of work has no relation to the value bitcoin provides.
Mate we will see a lot of people not giving a single fuck about military or governments. We don't gain nothing from them selling weapons it's as simple as that, we want to reset? let's do it for good. And still they haven't robot good enough to fight for the super-rich. There is a little chance we will see the beautiful and the horror of entire countries of people rebel against goverments, on a global scale. The social pact between people and govs is going to vanish really soon. They still don't acknowledge internet, and they control only a bit of it
@@sanjayaiyar4351 : Totally agree. Jason Lowrey is right on the money. (No pun intended) Bitcoin HAS TO BE adopted by the entire USA as an economic defense strategy. Like, NOW! People can’t wait another day!!
Peter, you and Nic are making such a huge contribution on why the information available through the network effect is freeing us from the obsolete structures of the past.
Phenomenal interview, thank you Peter and Nic. BTW, Nic's mustache deserves its own RUclips channel!
A must watch episode as are so many of these…. Thank you Peter for having Nic on
Been waiting for this episode!
Really enjoyed this. Nic can condense a lot of complex information into simple to understand statements. Thanks guys.
GR8 interview with a Smart Guy. Peter, as mentioned by Nic, Luke Gromen would make a brilliant guest. 👍
Perhaps you don't understand the role of an interviewer. It isn't about a personal journey of what I am learning. It is about giving the audience information. Not every listener listens to every show.
podcasts.apple.com/us/podcast/bitcoin-the-great-disruption-with-luke-gromen/id1317356120?i=1000491682580
love the banter in the beginning, thanks Peter and Nic.
Nic does have keen insights but I would question whether his view on the global monetary system is multipolar. At the moment it is almost completely unipolar. The size of the Eurodollar system always throws people off when they discuss issues regarding the handling of the “US dollar”.
I do enjoy the conversation though.
I think the “Eurodollar system” is just myth making or doublethink. It’s just the dollar, the US dollar.
Oh they issue them offshore and only offshore from the issuer… ok
It’s like thinking gitmo isn’t a US institution
Just a way of creating the façade of unaccountability.
Nic is the man. Turns out preppers were a bit early, but their time has come.
The only way Peter Schiff gets on tv the last few years.
Mazepin didn’t really have his contract cancelled, Haas split from the Russian sponsor who paid for Mazepin to have the seat. As soon as the sponsorship money goes there is no need to keep a less able driver.
Nic dropping dimes on this cast 👍
Nick looks like a Spanish money lender from 1420 :)
@@jiejie5569 🗣️Latinx
That said, I really find the rest of the podcast very insightful. :)
Russia is far from being a 'nation state'. It is a federation incorporating over 80 distinct oblasts, republics, autonomous communities and federal cities. According to Wikipedia, it is a "a multinational state, home to over 193 ethnic groups".
To be considered a 'nation state', a sovereign entity usually has to have >85% of its citizens sharing the same broad ethnicity. Some examples would be Japan, Greece, Egypt... arguably China, although it is usually labelled a 'civilisation state'. These terms are often wooly and debatable, but it would be fairly difficult to argue for the existence of a Russian 'nation state'.
Im a simple man. I see Nic Carter I click
love Nic's insights. he's a lot more logical and less biased than i view a lot of bitcoiners. which i appreciate both the staunch cheerleaders and the more objective analysis like nic and Lynn Alden contribute.
Peter is the Every Man of Bitcoin. he's not super smart about all the financial stuff and he puts himself out there to learn in public. as well as questioning Bitcoin and looking at it's potential weak points. super fucking commendable. love his channel.
Excellent episode. Who were Nics two Peters that he mentioned??
Peter Schiff and Peter Pan
Nic is CRAZY good. I just listened to his debate with Mike Green from a year ago and most of Nic's predictions happened EXACTLY the way it was. Mike was making fun of him for inflation not being a real thing in the US, and Nic said it was only a matter of time before printing out 40% of your money in a single year would show up in inflation. And here we are in March 2022.
Fantastic show once again!
Highly informative and superb choice of interviewee
Man, love this podcast!
I love that stache SO MUCH.
@@jiejie5569 Sure, Jie🤪
Who would save in a money that can be canceled? This maneuver accelerated the collapse of the fiat system.
Guys, just to let you know, there's a creepy old guy spying on you through TV screen on the wall.
Peter Schiff? 😮
nice one, favorite WBD guest
Loved the jabs towards Ammous. LOL
I enjoy listening to Nick while having the warming eyes of Petey Schiff looking at me :))
This was great.
Collective punishment is evil.
Isn't Schiff the #1 most appeared guest?
Nick Escobar 😂
Thanks guys. 👍
100% agree with Luke Gromen/FFTT being #1 thinker. His analysis has been transformational to my financial life. Since listening to Luke, I’ve become acutely aware of ‘signposts’ throughout my own research and, most importantly, I’ve been able to contextualize that data.
Nick Carter looks like a gansta OG
these new thumbnails mate 👌
Nick is so intelligent and handsome!
Peter Schiff on the Tv 📺 😂😂😂
What’s with the porno mustache Nic? Awesome as usual!
Wow. Not knowing anything about him, I'm impressed with Nic's knowledge and especially his eloquent speech. But a few points on the latter though:
- All the "a"s in names like Afghanistan, Iran, Iraq, Pakistan, Kazakhstan, and Balaji are pronounced like that in _father_ and not like that in _apple._
- _route_ is pronounced identically to "root"; a _rout_ means something totally different: "a disorderly retreat of defeated troops", something that could describe the Russians in the current war.
- America is the continent while the US is the country; make sure to not conflate the two. "America" (including Brazil, Mexico, etc.) did not put sanctions on Russia; _the US_ did.
Always get A TON of signal out of Nic. Well researched, balanced, non-hyperbolic, and non-dogmatic. Good questions too, Pete. Thanks gents.
1 million THUMBS UP
If money is US treasuries and a debtor can't make payments because of the US sanctions, isn't the US the entity on default?
Emerging market sovereign debt crisis sounds like a perfect scenario for BTC legal tender adoption.
The last 5 minutes demonstrate that Nic, despite all the greats self-improvements he's been through during the last couple years, is yet to be pirate-pilled. Yohohohohoho!
Didn't recognize Nick with the moustache.
Who are the 2 peters Nic mentioned again? Couldn’t catch their surnames
In the converse, shouldn't we hold each American citizen responsible for every atrocity committed by American soldiers from the US Philippine war in 1898, Nuclear bombs over Hiroshima and Nagasaki, and the invasión of Iraq, Libya, Afghanistan & Syria etc?
That stache though!
🔥🔥🔥
He was good in the Backstreet Boys.
Why do I see a Picture of Peter Shiff on every podcast lately lol?
Lov listening to Nic. Font of knowledge and insight.
Señor Carter!
I’ve listened to the start of this episode multiple times now and I’m having a very difficult time understanding the apologetic tone for the “total economic war” against Russia, when there is literally physical, moral, and economic tolls on the Ukrainian people because the leader of a sovereign nation decided to remove the sovereignty of another nation. Is your guest justifying bombing cities into the ground because of a perceived threat by NATO? Just looking for clarity in the position.
So awesome
This guy is so smart man
Hola Nicolás!
looking sharp nic 😂
I have been pinching myself nonstop for the past month.
Excellent podcast
What becomes illegal first? Bitcoin or Nic's moustache?
Nic sounds like a smart nice guy... Love the Ring and Mustache Facade (faciada) ...there is Still hope for the young and in love.
Nic will singlehandedly bring mustaches back in style. Almost reminds me of Howard Hughes.
Saifedean calling anyone attention grabbing is hilarious to me
What’s the background to this? I know it was mentioned but have no idea what went down.
Wait until 2-5T Bitcoin Mkcap.. Such different ball game. I own 1-2% of bullion and majority BTC. Diversify.
God-tier.
Boom!
A fine mustache sir
Nic looks like Cuban mafioso 😂😉 That must be Miami influence🙂
The moustache is kinda sus, Nic
Time to hedge with some gold 👍
Today the world economy runs on oil and oil is inextricably linked to the world reserve currency, USD.
The future economy will run on electricity, in that era the world reserve currency will need to be inextricably linked to electricity. Maybe?
There is digital gold. I hold PAX Gold in my Celsius Network wallet and it is paying me 7% interest!.
it's bulking season for Peter
Bring Nic back!
I can’t imagine why Putin is not all in on Bitcoin at this point?? why he would want to use the central baking digital currency when it is the same system as fiat is lost on me
nic's moustache is outstanding
Great talk, thanks!
Nic auditioning for Brokeback Mountain 2?
It’s ok to admit you’re attracted to him
“Don’t mean to be alarmist but…learn to stitch your own clothes.” Lol. This podcast is so damn entertaining, but not for the reasons I think Peter would want it to be.
???
If you don't want to listen to Saif on climate hysteria read Patrick Moores book .. even better get him on . Also Alex epstein and shellenberger, Lomborg . Sure I've said that before ;)
+1 on Shellenberger. That guy gets it, as does Lomborg.
The greatest grift
💥Nic brings this across so well - very talented!
Gigabrain guest
It is really sad that both are much concerned about Russia and their access to Spotify, but no words about the bombing of civilians. The sanctions should help to uprise against Putin. The Belarus and in the past Ukrainians protested against their local dictators as well
Let say bitcoin become the reserve currency BTC@10,000,00$ or more ... would the quantum computing become a real tangible danger to the bitcoin network ?
First
Nic grew a stash...
Wow, puberty just punched somebody on the upper lip :o
Lol. Bring Nic back.
Bitcoin actually has many non monetary uses.
Like inspiring memes?