A great topic but very poor quality of video and audio. It is painful to listen...
@gileschance952 Жыл бұрын
Agreed !
@kamtaoleung8581 Жыл бұрын
Need to get the basic right, the US dollar is NOT a store of value! It's a fiat currency after 1/8/1971!
@GETJUSTICE4U Жыл бұрын
Yes. The dollar replaced gold as the standard exchange of value after all the gold in Fort Knox (75% of the world's gold reserves) was transferred mainly to the Washington/Wall Street IMC by waging its prolonged war against Vietnam. That war ended once the gold was running out and and the US dollar was made the standard exchange of value. The flaw with a global currency is that as you say the dollar is a fiat currency. Unlike gold It has no value it is a promisary note back by faith that the borrower (issuer of the dollar) will honour the debt. The seizure of Russian and other lenders dollars is simply a debtor tearing up an IOU and saying we're not paying back your the money you lent us. What happens when say a bank says to a depositor we have cleaned out your account suck it up?
@SLF-o2w2 ай бұрын
1/8/1971 or 8/15/1973? When was Nixon’s TV speech?
@PerriBelcourt7 ай бұрын
Last year Oxford university said Russia collapse
@gileschance952 Жыл бұрын
This is a poor presentation because the participants didn't have enough knowledge about the topic. One participant admitted she had no knowledge at all. Important aspects were ignored eg. the Triffin dilemma from the 1960's which asked whether the issuer of the world currency would use its position to benefit itself, or the users. It cannot do both. The answer is obvious, and SDR (special Drawing Right) as created to try and solve this problem - so far, it has not. Other important considerations were ignored: ie. what makes a world currency and why is it a world currency ? etc. This topic is important and it's a pity that it was not much better.
@joem0088 Жыл бұрын
Count the number of videos about the end of dollar hegemony. By the time there is so much doubt, all dollar prospects are over. Financial is all about confidence.