He explained what has been obvious for a long time to people who see broadly and see and understand what is unfolding in front of them, The day the Chinese decide that a falling dollar will no longer affect their international trade, At the push of a button, they will make the dollar worth toilet paper.
Already in process. China is huge. No one knows truth about how powerful is Chinese economy. With Russia pact, China is not worried about US military. BRICS is future of the world.
Here’s a thought experiment for you all. Given what Vanis said about the dollar being the world’s currency and how it benefits the US kleptocrats. What was behind the destruction of the Nordstream pipelines? Europe was becoming more dependent on Russia oil, gas and other natural resources. Russia had repeatedly proposed a pan European peace treaty. If that had happened then the Euro would have become a very serious threat to US dollar hegemony? Think about it. Why the Ukrainian proxy war?
Ask Blackrock, Exxon and 3M about Ukraines untapped trillions of dollars in cobalt, lithium, manganese and copper. Great agricultural potential backed with the stuff needed for the bitcoin revolution
I don't understand how the European intellegencia have failed to figure out how the American are deceiving then with the war in Ukraine. It's designed to eventually destroy European economy and make it more dependent on US.
Russias peaceplan means subsurvience for about 50 %of europe. All states that in the past were a member of the warsaw pact have experienced a dramatical rise in standard of livong and GDP. Peace was never the plan for russia
It's been more than obvious for those who know. The real mystery is the level of obedience and idiocracy in European political circle. It's either incredible incompetence or utter corruption.
With Europe buying a lot of US oil and gas now, it is trapped in the US Dollar shuffle. They’d have been so much better off buying cheap Russian oil and gas. They really got sucked in.
The EU created their own euro currency to safeguard against the unstable dollar as well as to prevent themselves from being ransom by the dollar , yet it is using the dollar now?
@@be4unvme I am no longer amazed at the lack of education of Americans. USA owes usd 34 trillion, printed usd 9 trillion and pays yearly interest of usd 1 trillion on its debts. Name a country that owes more than USA?
@@SK-lt1so Having a big economy is of no significance when USA spending exceeds its revenue to the extent it needs to borrow and print money to survive. Anyway China already exceeded USA economy on a Purchasing Power Parity basis since 2015. And China is the world largest net creditor compared to USA being the largest net debtor.
The ex-Vice President of IBM, an extremely clever guy, recently said that in the 21st Century, China will be 4 times as large as the US. He said that the US's relationship with Japan right now will become comparable to China's relationship to the US at that time. Sounds about right.
Nothing is late , if all government wake up now , in another 30 years they will reach , it is not easy but not impossible too .. Once oil exchange is done in free currency , the dollar spine will break
They are not fond of their own makings which are not free kapitalism but offcourse kolonialistic kapitalism. And if some one beats them at their game(putin, China) oh no then the money has to be controlled and manipulated. Lets see how long they can keep doing that. Thanks Yanis for explaining it so clearly.
The opposite applies. Yanis is so succesful as an academic professor because he can make theories approachable to everybody. The only one who didn't want to understand was Merkel and her idiot finance minister
Thx sir This guy explains something so easily and comprehensive that even a moron like me understand it..... so european governments now....deeeeeeuuuuh
It's been a broken system since they left the gold standard. Making money from thin air. You need to produce something to create money. The only money the government creates is tax. Bad spending creates a deficit. Only way to pay that back is with more tax.
@@Kashmir84828 a pity Gadafy isn't around anymore to help. They destroyed his dream of a United Africa with a gold backed African currency ' the afro' . They even bombed his' man made river providing food and water. NO military use whatsoever. They even bombed the factory which could repair it. Helping the ppl?? Yeah Wright. 👍 Good health wished upon you 👍
Okay, but U.S public debt to gdp is 121% which is a lot, BUT there are countries in Europe with similar or even bigger %ratio (Italy, Greece). China public debt to gdp is 77%, Japan 255%. So every country is printing its currency and borrows. I don’t see why this is such a big deal and issue for the US dollar, while other non dollar countries are following the same printing strategy and I don’t see bust at all over many many years of doing it😅
Everyone just repeats obvious things. Putin has been saying that since 2000s but nobody believed but when Putin won whole empire everybody started repeat his words.
But BRICS is also a major threat to the Dollar. I thought it was the main reason, as BRICS offer you to make business wuth them in your own currency. Quite a few countries have cut off the Dollar already. More and more countries don't trust the USA anymore.
Also dont understand how buying realestate finances the american state. Is it as simple as a tax on the purchase? He mentioned debt too, realestate purchase is debt purchase?
Simply put, you are producing real goods and selling them for American printed currency. When you have accumulated a lot of it, the US can simply 'feint' by threatening to devalue its dollar by, say, 20%. Now, you have promised the US that you will return, say, 5% or even 10% into the US economy because it is better for you to lose 10% of that paper value than 20%. It is a vicious cycle where you are owned by the US more as you have more of their printed currency.
China is creating new markets in Africa. They build infrastractures for the countries and buy natural resurces. The standard of living is elevating so they can buy chinese products. So the share of USA in the global market goes a little smaller every day. And one day the dollar will be in the second place.
How many of the predictions of Yannis Varufakis have been proved to be true? He was wrong even about the finches of his country Greece which actually went on to recover much faster without him. He was wrong about the Euro. Now he talks of China and the USA….
I don't agree with your reasoning, what the USA is trying to do is to stop the technology evolution of China, but I don't see a direct relationship to the Chinese financial system. anyway I believe the USA already lost this war
Chinese won't let their currency to float nor allow foreigners to trade it in open markets...until the CCP relinquish control and the level of liquidity the usd has...the Chinese currency(yuan/renminbi which name is it;)) will not be on par as usd
@jackHungters go check reality from many sources . This is RUclips . Check Caixin Global which is Beijing based, Michael Pettis of the University of Peking along with Zhang Dandan a Prof at the same school. Denial and ideology are wonderful but not so easy to sustain in relatively freer media. Why not stick to Xinhua and The Global Times western shill are in demand. I'm Asian and proud of our diversity and spiritual heritages. Marxism is a narrow, superficial , neurotic deadbeat old template born out of the old European industrial revolution just like fascism. Go fight with each other and leave the rest of the world out of it. . Asian culture is much more diverse and ancient .
America doesn't "print the world currency". America print the green papers in exchange for everything they need in lives. In other words, the world is supporting Americans while all they do is giving away papers. All they need to secure is that they have arms powerful enough, or at least seemingly, so no country in the world would dare disobey their rules. The world should be, and IS, THRILLED, EXCITED, and extremely grateful for China.
Yeah, let's take advice from a guy who failed as minister of finance, after making promise after promise to the Greek people, and who eventually preferred to run away under the disguise of resignation, just not to be labelled as a huge failure. Guess what, since my childhood days, I've been hearing stories about the end of the US$ hegemony. And I'm still waiting.
The guy not only the worst financial minister, but also.said to increase taxes on renewables inside the Greeck parliament. Let's not talk levels of narcissism that surpasses Trump
Varufakis is delusional .... All and every metric from china we can get undichte the opposite of what he has said ... He likes china because china is not the west and well if you follow the story of how greek made it into the EU you know why he likes china alot
Comical. He doesn't understand how modern fiat currencies work. They are simply systems of debits and credits. China's economy is in the toilet, its property market is dire, unemployment among recent college graduates is 25% plus, and it has a fastly decreasing demographic, including a census that overstated the population by 125 million. It relies on other nations for its energy needs. Contrast that with the United States the defeat itself, power itself, is geographically isolated, and has armed forces that can project worldwide. The United States is perfectly poised for the era of the globalization. China is not
So simply put it America thrive on others suffering
America is a continent, USA is a country.
Yeah, Neo-Colonialism + Dollar Hegemony.
Technically you're right, but this is how Americans themselves generally refer to America, so no mistake here. @@ahmadahmal2942
@ahmadahmal2942 You're kind of slow, aren't you?
@ahmadahmal2942 what's the A stand for in USA. What other country has America in their name.
He explained what has been obvious for a long time to people who see broadly and see and understand what is unfolding in front of them, The day the Chinese decide that a falling dollar will no longer affect their international trade, At the push of a button, they will make the dollar worth toilet paper.
They will not not "make the dollar worth toilet paper" it will become toilet paper. They'll be carting dollars in wheel barrows to go shopping.
Already in process. China is huge. No one knows truth about how powerful is Chinese economy. With Russia pact, China is not worried about US military. BRICS is future of the world.
@@miriguwa1958AMEEN!!!
its already toilet paper... why do many countries still accept it because the US put guns in their head
@@miriguwa1958No ! The yankys will be burning their dollars to kerp warm and fuel for food they stole form supermarket
Here’s a thought experiment for you all.
Given what Vanis said about the dollar being the world’s currency and how it benefits the US kleptocrats. What was behind the destruction of the Nordstream pipelines?
Europe was becoming more dependent on Russia oil, gas and other natural resources. Russia had repeatedly proposed a pan European peace treaty. If that had happened then the Euro would have become a very serious threat to US dollar hegemony? Think about it.
Why the Ukrainian proxy war?
Ask Blackrock, Exxon and 3M about Ukraines untapped trillions of dollars in cobalt, lithium, manganese and copper. Great agricultural potential backed with the stuff needed for the bitcoin revolution
I don't understand how the European intellegencia have failed to figure out how the American are deceiving then with the war in Ukraine. It's designed to eventually destroy European economy and make it more dependent on US.
Russias peaceplan means subsurvience for about 50 %of europe. All states that in the past were a member of the warsaw pact have experienced a dramatical rise in standard of livong and GDP. Peace was never the plan for russia
It's been more than obvious for those who know. The real mystery is the level of obedience and idiocracy in European political circle. It's either incredible incompetence or utter corruption.
European complicity and corruption
Bravo Yanis, loud and clear.
😂 The world have finally figured out the scam.
Slowly but surely.
A lot of ppl still haven’t got it though
With Europe buying a lot of US oil and gas now, it is trapped in the US Dollar shuffle. They’d have been so much better off buying cheap Russian oil and gas. They really got sucked in.
You mean you would buy products from the person threatening you with annihilation?
You are as odd as the barker in the video.
No....américa put.puppets in power....the people hate theire leaders.
The EU created their own euro currency to safeguard against the unstable dollar as well as to prevent themselves from being ransom by the dollar , yet it is using the dollar now?
Finally all the financial experts, the economy teacher and money guru , finally they understood the dollars scam.
I’m a developer on this blockchain fin tech, and this opinion is legit.
give me pc gamer plz
This guy is smart.
@faridmohammed5902 no he's not. He's a Communist.
PHD Holder... with decades of Political and technical experience.
@@buravan1512PHD means permanent head damage
This guy is much hated here in Greece … one of the worsts minister of economics
@@SardonianSmileLiar😂😂😂
A great, honest, decent man of the world! 👍
❤️👏Thanks for your input!
China is CREATING value, instead of just EXTRACTING it, like the USA.
@@lorenam8028 ok commie.
Yeah, sure.
China steals everything, and then makes cheap lousy copies
Spot on.
USA is spending, borrowing and printing itself out of existence. 😂
Borrowing the money they print? You should compare China and US debt and printing. US prints less and it's a global currency.
@@be4unvme
I am no longer amazed at the lack of education of Americans. USA owes usd 34 trillion, printed usd 9 trillion and pays yearly interest of usd 1 trillion on its debts. Name a country that owes more than USA?
@@be4unvmei think you need to re-check your facts. US has the world's biggest debt far more than China
@@galaxymetta5974
Name a country with a bigger economy than the USA.
@@SK-lt1so
Having a big economy is of no significance when USA spending exceeds its revenue to the extent it needs to borrow and print money to survive. Anyway China already exceeded USA economy on a Purchasing Power Parity basis since 2015. And China is the world largest net creditor compared to USA being the largest net debtor.
I‘m in awe for this man.
It was indeed. The thing about greed is its easy to defeat once its exposed.
China is Building. Constructing, Creating. For the good of All People.
Wrong for themselves not for humanity period
@@johnjefferyferendez5785nd your people! Creating genocide to rule the world ! Fk nobody wants the evil yankys rule or dollars anymore , f loser
Are you CIA or NED bot?
wrong against u.s monopoly exactly why we want it😂😂😂@@johnjefferyferendez5785
@@johnjefferyferendez5785wrong against u.s monopoly exactly why we want it😂😂😂@johnjefferyferendez5785
The ex-Vice President of IBM, an extremely clever guy, recently said that in the 21st Century, China will be 4 times as large as the US.
He said that the US's relationship with Japan right now will become comparable to China's relationship to the US at that time. Sounds about right.
Good...
Janis keep up open eyes to people who have been blind folded for too long.
keep on drumming ....
Thank you for Sharing this information
*== It's too late. The rooster has left the coop.*
Nothing is late , if all government wake up now , in another 30 years they will reach , it is not easy but not impossible too ..
Once oil exchange is done in free currency , the dollar spine will break
The world has to build more financial centres that are relatively free of American's influence
@johnchang1226 it will happen , it is matter of time , May be not in our life time, but shall happen ...
@@Oridanry It will happen...they will feel the heat after 2030.
Good analysis Yanis
Truth.
I am not worried, I am happy about it
Well put sir.
beautifully explained......
clear and brilliant
Yanis - bravo 🤩 👍 💪 👏 ❤
US dollar is done, world don't need US dollar.
hahahaha
yes f usa
So that is the kinda "garbage" they don't want us to see on that video platform that I better not name on YT.
They are not fond of their own makings which are not free kapitalism but offcourse kolonialistic kapitalism. And if some one beats them at their game(putin, China) oh no then the money has to be controlled and manipulated. Lets see how long they can keep doing that. Thanks Yanis for explaining it so clearly.
Yanis is a ripper. I love listening to / reading his observations and theories. It’s beyond most people’s ability to comprehend.
The opposite applies. Yanis is so succesful as an academic professor because he can make theories approachable to everybody. The only one who didn't want to understand was Merkel and her idiot finance minister
Spot on.
Well said ,,easy even for dummies like me to understand
Thx sir
This guy explains something so easily and comprehensive that even a moron like me understand it..... so european governments now....deeeeeeuuuuh
Who need dollars when you can pay with your own currency? Its just the right thing to do.
It's been a broken system since they left the gold standard. Making money from thin air. You need to produce something to create money. The only money the government creates is tax. Bad spending creates a deficit. Only way to pay that back is with more tax.
Lets pray China prevails
And Russia too. And the whole global south. And the BRICS.
@@Kashmir84828 a pity Gadafy isn't around anymore to help. They destroyed his dream of a United Africa with a gold backed African currency ' the afro' . They even bombed his' man made river providing food and water. NO military use whatsoever. They even bombed the factory which could repair it. Helping the ppl?? Yeah Wright. 👍 Good health wished upon you 👍
@@Kashmir84828 a pity Gadafy isn't around anymore to experience this
@@Kashmir84828 they even destroyed his dream of a United Africa with a gold backed currency.
@@Kashmir84828 And they destroyed his man made river providing food and water.
Noooo military use whatsoever.
They are going to have to get through this massive housing crisis and depression first.
you're one of those people whose brain has been polluted with too much fake news from the Western media
Thank
Yes the future is digital
Panopoly based based not just on the dollar - based in the bomb!
True 👍
Yanis is more worth than gold👌👌
Absolutely correct
The world shall be free.
Okay, but U.S public debt to gdp is 121% which is a lot, BUT there are countries in Europe with similar or even bigger %ratio (Italy, Greece). China public debt to gdp is 77%, Japan 255%. So every country is printing its currency and borrows. I don’t see why this is such a big deal and issue for the US dollar, while other non dollar countries are following the same printing strategy and I don’t see bust at all over many many years of doing it😅
China should hire Yanis as their advisor in order to fight against the big bully of the world
Everyone just repeats obvious things. Putin has been saying that since 2000s but nobody believed but when Putin won whole empire everybody started repeat his words.
Chinese have very smart people as well, believe me.
I dont get the part about not being able to use the dollars in germany, and having to spend them on wall st. Cant you just exchange them to euros?
The German billioner has to invest his money. Where ? Wall Street of course .So the dollars returns and support the american economy
The US doesn't want anyone to diversify their portfolio. 😅😅😅
What he doesn't get and most people don't is that up to one third of the US debt is money the government owes itself.
But BRICS is also a major threat to the Dollar.
I thought it was the main reason, as BRICS offer you to make business wuth them in your own currency.
Quite a few countries have cut off the Dollar already.
More and more countries don't trust the USA anymore.
Why not Euros and the handbag industry there?
Just keep in mind he is a cheerleader of the anti-west
Global reserve currency issuer must have dual deficits: gov deficit to create money and trade deficit to spread that money across the globe.
Everyone is so happy about exiting USD, but no one really knows where they are going?
And its a good thing
Threat to US privlage.
He has listening to martin armstrong very well
Also dont understand how buying realestate finances the american state. Is it as simple as a tax on the purchase? He mentioned debt too, realestate purchase is debt purchase?
👍👍👍💛💛💛👌👌👌👏👏👏
I had one $50 note , got rid of it months ago 😂😂😂
Just shy of 35,000,000,000,000 defecit
USA economy is like Pakistan economy 💩 💩 😅😅
👋👋👋👋👋👋😍
And how much trouble does this leave me British in?
Simply put, you are producing real goods and selling them for American printed currency. When you have accumulated a lot of it, the US can simply 'feint' by threatening to devalue its dollar by, say, 20%. Now, you have promised the US that you will return, say, 5% or even 10% into the US economy because it is better for you to lose 10% of that paper value than 20%. It is a vicious cycle where you are owned by the US more as you have more of their printed currency.
The truth
The Chinese digital currency has been around like 8 years ...no need to carry cash, credit card...
China is creating new markets in Africa. They build infrastractures for the countries and buy natural resurces. The standard of living is elevating so they can buy chinese products. So the share of USA in the global market goes a little smaller every day. And one day the dollar will be in the second place.
Thechinese currency does not threaten anything because nobody wants their currency.
Whole Video
How many of the predictions of Yannis Varufakis have been proved to be true? He was wrong even about the finches of his country Greece which actually went on to recover much faster without him. He was wrong about the Euro. Now he talks of China and the USA….
That’s why you Bitcoin
Wishful thinking
haha indeed, the dude must have liked the bellys of a lot of toads
I don't agree with your reasoning, what the USA is trying to do is to stop the technology evolution of China, but I don't see a direct relationship to the Chinese financial system. anyway I believe the USA already lost this war
Not worrried about military? Oh I would if I were in pentagon.
You mean the chinese military that has not fought a real war since the 50s?
After all, we want two super powers to coexist and work with each other, that's the best for the future
there is only one true superpower and its not china or russia
isn't amassing demagogs always find audiences ??
NEVER bet against America.
I think those are mostly bots, poor ignorants.
He failed his country as a minister in every given chance...
This guy is stating random things since many years, hoping he will eventually be right once impressing his audience.
Inshallah
Chinese won't let their currency to float nor allow foreigners to trade it in open markets...until the CCP relinquish control and the level of liquidity the usd has...the Chinese currency(yuan/renminbi which name is it;)) will not be on par as usd
The funniest ignorance I've seen in a while.. thanks for the laugh..
Is he wrong? Please elaborate
@@mostafaalsultan1828 capital flight from China went on for decades.. Hong Kong banks are shadows.. you tell me.
He’s looking to confuse you. And you fall for it
China's total debt to GDP is 300% the US is 130%. even with the 34 trillion USD debt ceiling. Have you heard of the debt crisis in Greece?
@jackHungters go check reality from many sources . This is RUclips . Check Caixin Global which is Beijing based, Michael Pettis of the University of Peking along with Zhang Dandan a Prof at the same school. Denial and ideology are wonderful but not so easy to sustain in relatively freer media. Why not stick to Xinhua and The Global Times western shill are in demand. I'm Asian and proud of our diversity and spiritual heritages. Marxism is a narrow, superficial , neurotic deadbeat old template born out of the old European industrial revolution just like fascism. Go fight with each other and leave the rest of the world out of it.
. Asian culture is much more diverse and ancient .
Don’t u have a book to sell?
It’s “revolves” not “devolves” please at least have the decency to get subtitles right when you are doing videos on an important subject.
That is why america is so worried about China. Every bloody day americans are obsessed over China. They just can't stop talking about China.
Bitcoin
Full video
Its on novara media
Search for- "We Are In A New Cold War | Downstream IRL with Yanis Varoufakis"
America doesn't "print the world currency". America print the green papers in exchange for everything they need in lives. In other words, the world is supporting Americans while all they do is giving away papers. All they need to secure is that they have arms powerful enough, or at least seemingly, so no country in the world would dare disobey their rules. The world should be, and IS, THRILLED, EXCITED, and extremely grateful for China.
Yeah, let's take advice from a guy who failed as minister of finance, after making promise after promise to the Greek people, and who eventually preferred to run away under the disguise of resignation, just not to be labelled as a huge failure. Guess what, since my childhood days, I've been hearing stories about the end of the US$ hegemony. And I'm still waiting.
you are ignoring crime which is 10x gdp, and for us, 100x gdp
The guy not only the worst financial minister, but also.said to increase taxes on renewables inside the Greeck parliament. Let's not talk levels of narcissism that surpasses Trump
Varufakis is delusional .... All and every metric from china we can get undichte the opposite of what he has said ... He likes china because china is not the west and well if you follow the story of how greek made it into the EU you know why he likes china alot
American dollar is done and dusted. What are you gonna do about. Force other nations to use dollar?
It is hard to believe he comes from the home of democracy. What a disgrace!
How is he a disgrace?
@@DoggyEffect He is a pro-China shill.
Ah, these communists European politicians …
Comical. He doesn't understand how modern fiat currencies work. They are simply systems of debits and credits. China's economy is in the toilet, its property market is dire, unemployment among recent college graduates is 25% plus, and it has a fastly decreasing demographic, including a census that overstated the population by 125 million. It relies on other nations for its energy needs.
Contrast that with the United States the defeat itself, power itself, is geographically isolated, and has armed forces that can project worldwide. The United States is perfectly poised for the era of the globalization. China is not
You are lazy. Multiple typos in the subtitles.