Petrodollar Deal Expires; Why this Could Trigger ‘Collapse of Everything’ - Andy Schectman part1/2

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Andy Schectman, President and Owner of Miles Franklin Precious Metals, who breaks down reports of Saudi Arabia letting the 50-year long Petrodollar agreement with the U.S. expire and what this means for the future of the U.S. dollar as the global reserve currency. Schectman believes that this marks the end of the era of fiat currency, as commodity backed money will return. He also weighs in on the latest geopolitical developments, including the latest sanctions against China and Russia, continued weaponization of the U.S. dollar, the accelerating de-dollarization trend, BRICS Plus Foreign Ministers meeting, G7 meeting, BRICS new currency, and more. Schectman points out how gold fits into the picture, laying out what a new world monetary order - or the Bretton Woods 3 - could look like.
Stay tuned for Part 2 of this interview where he discusses the role of Bitcoin and the impact of a Trump presidential victory.
This video is brought to you by Swan Bitcoin
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Link to Andy Schectman’s first appearance on Kitco News:
Massive U.S. dollar dump? BRICS to launch new currency causing tsunami of inflation - Andy Schectman → • Massive U.S. dollar du...
Follow Michelle Makori on X: @MichelleMakori ( / michellemakori )
Follow Kitco News on X: @KitcoNewsNOW ( / kitconewsnow )
Follow Andy Schectman on X: @MilesFranklinCo ( / milesfranklinco )
#petrodollar #gold #oil #dollar #BRICS
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[@Hannahbenowitz]

I think there is an atom of truth because : America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

[@HildaBennet]

Ironically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The banks are in a big crisis. The market looks very shaky. The bigger the red candles, the bigger the green ones. I have made over $280k in the last 4 months by investing through my FA.

[@FinnBraylon]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@HildaBennet]

I work with ‘’S’’ONYA LEE MITCHELL she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk.

[@HildaBennet]

I work with ‘’S’’ONYA LEE MITCHELL she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk.

[@HildaBennet]

My fiduciary is Sonya Lee Mitchell , a renowned figure in her line of work. I recommend researching her credentials further.

[@scottarmstrong11]

If you are properly prepared and knowledgeable, every crash/collapse/inflation or recession gives an equal market opportunity. I've seen folks amass up to $800,000 throughout crises and even do it with ease in a terrible economy. Without a doubt, someone has become enormously wealthy as a result of the crash.

[@Johnlarry12]

It's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.

[@phillogan1]

I completely agree, which is why I prefer delegating daily decision-making to an investment coach. It is nearly difficult for them to perform below par given their specialised knowledge, extensive research, and the fact that every ability they possess is focused on maximising risk for its asymmetrical potential and minimising it as a safety net against certain unfavourable turns. I've worked with an investing coach for over two years and have made over a million dollars.

[@frankbarnes22]

Impressive! I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging, who's the professional coaching you?

[@phillogan1]

Carol Vivian Constable is the licensed advisor I use. Just research the name online. You'd find necessary details to work with and set up an appointment.

[@frankbarnes22]

Thank you for the lead. I just searched Carol by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon.

[@Olivia-z5c]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly

[@Agatha.wayne0]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this, are you a pro investor?

[@Miakate-f3l]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million

[@berniceburgos-]

Mind if I ask you to recommend this particular coach to you using their service?

[@Miakate-f3l]

Jessica Lee Horst is the licensed advisor I use, Just research the name. You'd find necessary details to work with to set up an appointment.

[@DhanaPayar]

Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 15 years of experience is certainly striking! very much appreciate it

[@djnaph_]

It’s not just ignorance, it’s arrogance that’s being used against us. This was an excellent interview😎🥂

[@SamSam-sn2jw]

The US couldn't protect Saudi Arabia against poor Yemenis...They couldn't even protect themselves against shoeless Taliban and Yemenis...

[@davidlim5]

US cheated SA for 50years using petrodollar to sanction against 50countries with thousands of sanctions.

[@acecomet]

USA fame is over.

[@PeterErikson-rd5tj]

The US Could Protect the Saudi's Against Anyone. --- Leadership just did not

[@roslanalwi5490]

Well said bro salute to U

[@johnbethea4505]

I was born in 1946, and I have seen the schools, law enforcement, politicians, government, news media, TV programs, movies, banks, currency, and other things go to hell.

[@johnwilkes01]

and there was chicken in the pot. we had the advantage

[@johnbethea4505]

@johnwilkes01 I find it amazing that we had little or no money, and we still served.

[@Aikynbreusov]

That's the outcome of integration and diversity.... now we have no American identity....

[@unknowndriver6652]

​@@Aikynbreusovbingo.. America is a joke now

[@projectkj7643]

I was born in ‘64. There are lots of things I’m not happy about regarding aging but I wouldn’t trade places with young ppl for anything. I’m thankful I won’t be here in 10-25 yrs…

[@richardwalker1850]

Massive increase in printing US Dollars...creating a less desirable currency backed by NOTHING....

[@DanDang2]

Backed by Gold and Commodities

[@MarcIverson]

Backed by Proof of War. War gets harder to do when you're giving away all your stuff, including the money to make more of it.

[@marcovaldovinos4754]

US currency is backed by US hegemony. Numerous countries have tried to create a competing world currency, but it hasn’t replace the USD. Currently there isn’t anything that can replace USDis world trade or to issue debt. Over 70% of world debt is denominated in USD. Same for world trade. More than 70% of world trade is in USD. Yuan doesn’t buy anything outside of China. Ruble is practically worthless. Euro, Yen are better trade currencies. Even Sterling is preferred over Ruble, Yuan.

[@normandolinic2044]

It will change.

[@osamawilliams9042]

​@@marcovaldovinos4754In 2022 China & Saudi Arabia did the 1st Oil deal 50% the Yuan 50% USD. In 2023 the next Oil Deal was done 100% the YUAN🤨. it was Over for the USD then and FROM Now On. The Yuan & the Ruble are NOT based all on Debt. USD is backed by NOTHING, Period. Might as well be Toilet Tissue 😒. Get Prepared the FALLOUT gonna be EPIC😑

[@marklouieadame]

The 300bn Russian Asset was a calculated trojan horse, the west literally fell into a trap and the 300bn was setup as a catalyst in dedollarization

[@DanBreit-g1t]

Your brilliant. I see it .

[@ivanchernenko9879]

No way Russia would gamble $300B to have the west fall into a possible trap. They would much prefer to have that cash now to fund their war effort.

[@sirusvirus9650]

Putin is Ex-KGB the $300 bln resting inside the Swift System was always at risk of seizure/restrictions. So if it was a Trojan Horse it has gone off like a Financial Landmine 😮. The countries implementing this Freeze of assets potentially stand to lose far more😮

[@phillippetschow4766]

Maybe there all in on it? Nothing would surprise me! They sure don't plan to pay it back!

[@pinschrunner]

Not a Trojan horse. They are all in on it playing their part, collaborating to bring down this sustem

[@romelarnado8085]

Attention to all concerned citizens, this is a real talk from a knowledgeable person.

[@alphabong-w3h]

'Catastrophic for U.S.' How the fuck did anyone think that this bullying shit would end?

[@timothysanderford9241]

We are screwed.

[@Juandeer-z3o]

That's the problem, the people of the United States do not think for themselves. They have been thoroughly dumbed down and indoctrinated by their Rockefeller public school system, by design.

[@samanthak5301]

I listen to all Andy Schectman interviews. Authentic, super knowledgeable and shows integrity by speaking truth. Thank you Michelle and kitco for bringing him on!

[@Mikestonebone]

The U.S can also stop funding wars and start actually investing in its infrastructure and also purchasing gold/silver

[@user27278]

😂

[@Colleen222]

Oligarchs and Western Hegemony interests come before any citizen in the west!

[@andrehunter1295]

If the US didn't have so greedy cynical globalist elites as leadership, yes they could have done it. But they are obsessed about having control over everything outside their own country, they are obsessed about having control over the world. They don't care about their own country and citizens, globalist elites are only obsessed about having control over the world. It's not enough to have control over one country, that's why we all witnesses how self-destructive decisions that they have chosen to do 😢 They will never admit that they have done a terrible choice, they will keep on using Americans taxpayers money on war's. This time I think it's going to be really self-destructive, US would not get away with it this time. Globalist elite's will keep on pushing until they will get attacked, because globalist elites are getting so desperate that they choose to escelate this to WW3.

[@artmaknev3738]

lol u joking, common sense is not part of gov thinking

[@Human-f8y]

USA is interested in only one thing, nourishing zoinist state, with the tax of Americans.

[@katrinweigel3796]

Don’t understand why it’s always about migration and social costs but never about the endless wars and absurd military spending?

[@annabellelee4535]

The US imported over 10 million "refugees" in the past couple years and who do you think is supporting these border crossers? Don't you know it's costing nearly a trillion a year to support all the "refugees" in the US which is estimated to be about 50 million people. Don't you wonder why housing is both rare and hyperexpensive? They get first choice in housing. That's why our homelessness is skyrocketing.

[@ms-jl6dl]

Good point. I would add Medicare/Medicaid and millions of parasites "working" for the governments.

[@suzannelaw2219]

Recognize that with the national debt being $34 T, increasing by $1 T every 100 days. This debt requires interest payments, which will, in themselves, increase the debt as we print more money to pay it. Money printing pushes down the value of each dollar, which is driving inflation. Here is my point for you, there will only be enough federal funding to pay interest on the debt plus national defense. So how many "migrants" can we carry? And there will be no more money from social programs.

[@tonyclayton6975]

​@@suzannelaw2219 Apart from the fact that migrants have historically been used to drive down wages, I think they are now being lined up for conscription for the upcoming war with China.

[@adriandocherty778]

That’s the only way these smart people can figure anything out!! Not identity politics, DEI, coz we’re all humans and we don’t see colour coz all lives matter!!🤦🏽‍♀️🤣😂🤣

[@olympicsportsrule]

This is Gods judgement on the USA.

[@uweburkart373]

No that's simply "karma", acc. to the laws of the cosmos!

[@Rose-vt2vu]

"You can only pee in the punch bowl so many times before people stop drinking the punch" (re: fiat $) LMAO

[@XxDeathBy1000cutsxX]

Just saw an ad on here where Obama is asking for donations for biden’s campaign. I feel like I want to puke.

[@mrg7407]

After ALL The MONEY LAUNDERING in Ukraine , they Still Want GrandMas $$$$$$

[@chinggie2]

....and this "solicitation" is from the man who said: "never understimate Joe's ability to "f" things up?" "Trump 2024..........before it's too late for all of us, PLEASE!"

[@StevenSimpson-it5mv]

They both did an amazing job cleaning up after republican failures. Can't knock 'em.

[@sonorous8028]

Biden will not be running.

[@mwilliamson4198]

@@StevenSimpson-it5mv political operatives got you guys in-fighting while the system is taken down around you

[@danielli9167]

This guy is 100% talking the truth. Hope the politicians are listening.

[@triciac4240]

The politicians have no responsibility for anything. They will just take the/our money and run. Why is this okay??

[@VaporIsAllWeAre]

Oh, they’re listening. When they’re the perpetrators of this travesty, they don’t give a flip.

[@musashi4856]

The politicians have been bought, bribed, and payed for to usher in the Great Reset. You'll get no help from them. There is no more rule of law.

[@osamawilliams9042]

​@@VaporIsAllWeAre🎯

[@pinschrunner]

The politicians are orchestrating their orders from their master's.

[@vcash1112]

How does a country in debt give money away to Ukraine and Israel?😂

[@Unlimited0X]

United States of Israel!

[@jonathanh2o621]

It’s simple. Just turn on the money printers!

[@jptrainor]

They issue more debt.

[@wanasong5611]

It's 'Simple' when the 'Average American Tax Paying Citizen' is TOO IGNORANT to understand that WE ARE THE ONES who are PAYING THE PRINCIPLE AND INTREST on all our Wasteful 'Borrowing to Spend' money that we NEVER HAD TO BEGIN WITH. 🤣💰👏🏻👏🏻👏🏻

[@alrent2992]

Irresponsibility!

[@ursulaeissner1743]

It is not just the US which isn't a democracy anymore its the same in most of the NATO countries and the EU as well .

[@carriebordenaro3015]

America is a Constitutional Republic

[@vivienslennett7197]

He's brilliant. Thankyou I thoroughly enjoyed .

[@artjogo]

Andy has been on fire lately, does he ever stop working lol, i love Andy, thanks for your knowledge.

[@moiramaine8986]

he loves his country and doing the best that he can

[@superstar5123]

hard working

[@ericmcdowell5762]

Michelle, I'm glad you had Andy on for this discussion, ... this will affect all of us.

[@ocox8659]

Andy is speaking raw truth👏

[@Albertarocks]

Funny... he was doing the same thing 15 years ago. I love this guy.

[@mrfluidvision]

This financial collaborative conversation was prolific, thorough, concise, informative, efficient, humane, compassionate, integral and overall SPOT ON!! Great job to both Andy & Michelle. A great combination!!

[@teorodriguezjr6613]

In the meantime Mexico and China are cooperating in manufacturing and the value of the peso is up. Also, Mexico just agreed to build the wall to keep US chaos on the US side 😂😂😂

[@AidenCooney]

Andy's honesty, mentioning Mike Adam's & Sarah Westfall is the most you will ever find. He truly loves humanity & their future. WAKE UP PEOPLE HE IS 100% RIGHT

[@gordpearson9802]

Andy, followed you for years, this is one of the best, direct to the point, No BS, Thank You Michelle/Andy

[@guyewing1377]

If the dollar collapsed along with the stock market, real estate, bonds market, banking industry, and insurance companies, I feel that I would celebrate. Which one of those things is not a scam at its core?

[@HANZELVANDERLAAY]

At least real estate provides a place to live..yes it's taxed..but that not inherently..it's fault

[@bhargi4692]

It would be sad for all the regular people hurt, but you’re correct about them all being a scam at the core

[@osamawilliams9042]

Same with ya Vehicles. Since WHO made these RULES it Only BENEFITS Others, NOT the Payer😒. SCAMS😡

[@ittybitty8214]

Sadly, those who benefit from these aforementioned scams will find a way to benefit from their collapse, while people like you and I will be left with nothing. That’s the way it always goes.

[@vrajpal-jhala]

Count me in mate!

[@tiffsaver]

Andy's explanation of this subject is the best single thing I've seen anywhere. Even a dummy like me can fully understand it when he explains the entire event. Thanks for having him on your show.

[@for3ign21]

Why nobody talks about how those $50bln of US treasury sold by china were worth 500bln before and china is taking a 90% loss?

[@annabellelee4535]

The fall of the petrodollar means the treasuries have to be sold as quickly as possible before the US defaults. Remember Yellen saying the US has the right to seize ANYONE'S treasuries? 10% is better than 0%.

[@JohnEyubehdabron]

Please get your facts right. China DELIBERATELY and SYSTEMATICALLY sold $50 billion of their reserves because they know the US would soon STEAL its reserve just like the US dud to Russia. So they are not taking any chances. And that is why Janet Yelling is BEGGING China not to DUMP and SELL it's US Treasuries. If the US was not concerned, they would not be pleading with China to calm down. China knows that holding the dollar right now is BAD. So they have no choice but to DUMP it.

[@chriseustace9734]

A huge Japanese Bank has had to cash in $63Billion of Treasuries to avoid bankruptcy!

[@DanDang2]

which should raise U,S bond yield, where citizens will pay for.

[@centralscrutinizer76]

They also sold the bonds at a loss , they are postponing bankruptcy not avoiding it. Every time they sell bonds they lose billions because they are upside down.

[@rogerburn5132]

True. But Japan. Did that deliberately just to get rid of the US Dollars . Because they could be. NEXT. on the sanctions list

[@osamawilliams9042]

The FALLOUT from this is gonna be EPIC 😑

[@davebellamy4867]

​@@DanDang2Someone bought it all. I wonder who...🙄

[@Cosmoo6208]

Michelle, the best interview I have viewed in a long time. I have been around for over 7 decades and now see a country that doesn't seem to stand for anything. Without a stable monetary system,. gov't austery, and a society that seems to not have a moral compass any longer, the future looks pretty bleak. Mr. Schectman is so right on about everything, to bad nobody is listening.

[@nancytrevino6228]

Moral compass!!! That is most important. Everything hinges on that.

[@UKVI8]

Next is, Us dollar will use as a toilet paper

[@danielli9167]

It is not as good as toilet paper.

[@KRELL427]

Kitco, the anti- gold gold company .

[@phillippetschow4766]

For now, I need that monopoly money, to get ahead in the game...lol sad but true!

[@osamawilliams9042]

​@@phillippetschow4766Ain't THAT the Truth 😥. This Fallout gonna be EPIC😳. Get Prepared as best you can. Canned goods, dry goods, Water, Defense(hole punchers) REAL TALK. A Lot of moving parts and NONE OF THEM are Moving for Our(US) good😞

[@johnlay3040]

Yes, its unstoppable budget deficit will do just that.

[@AdeleLaurie1]

CIT bank is FDIC insured and is 5.05% for their savings account as long as your balance is $5k or more. I was using Ally up until I found out about CIT earlier in the year. They also have ATM fee reimbursement, just like Ally, for their checking account.

[@BradPaisley56]

I'm glad to have stumbled on this video as it is an eye opener and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.

[@fawnriverpuppyservices76]

Sincerely it's best to seek an advisor right now, unless you're canny yourself. As an eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.

[@DonatellaVersace44]

I have not written this sort of comment before but from the your comment, I knew that you have good understanding of investing, How can one reach this advisor of yours?

[@fawnriverpuppyservices76]

My advisor is a lady and goes by the name Melissa Jean Talingdan I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@fawnriverpuppyservices76]

The popular lady Melissa Jean Talingdan comes to mind. You'd find her basic info. on the web to set up appointment as she offers free consultations.

[@soothsayer2406]

I now admire this man very much for speaking his mind..He has a spine and stood up to the host for her lack of Awareness on the deplorable system and state of hypocrisy, dysfunctionality and decay that she obliviously fawns over. Thid is in relation to Andy admiring the tired worn out autocratic regime reference.....Bravo Andy! Well said!

[@fazdoll]

I guess you mean 38:57. Yeah, the wokeness and cancel culture and decay in the US are not great. But, are things in the US really bad enough for Andy to say that he "admired" communist dictatorships, a style of government that never had freedom of speech or equal rights, and skipped directly from "cancel" culture to "disappear" culture? Michelle was 100% right in challenging him on this.

[@Chuck68ify]

She's playing Devils Advocate and letting Andy fly!😊

[@soothsayer2406]

@Chuck68ify agreed, but she seemed too authentic when she was taken aback by Andy's admiration of the BRICs organization and skill.

[@moiramaine8986]

simple. she's in denial

[@mwilliamson4198]

@@soothsayer2406 she tried to make it into hollywood and had to settle for podcast interviewing ;) (I AM joking Michelle. I love your work :) )

[@jimcombatvet8122]

One Cartel owns all central banks, IMF, BIS, FED, World Bank and they also own controlling interest in 88% of the Corporate World....Do They Make The Rules??? I Betcha! All The Rules!!!

[@freddyfaster4444]

Rothschilds?

[@jimcombatvet8122]

@@freddyfaster4444 A Cartel who Believes that they are illuminated above all others. They even believe that they are gods who are destine to rule the world.... The big wigs only marry their 1st cousins...

[@mountainpatriot7673]

Who are they? Rothchild? Blackrock? Who?

[@jimcombatvet8122]

MY POSTS AS TO WHO ARE ALL REMOVED BY THE KZbin CENSORS

[@jimcombatvet8122]

@@freddyfaster4444 MY POSTS AS TO WHO ARE ALL REMOVED BY THE KZbin CENSORS

[@dewasw1]

Unbelievable show Michelle, you and Andy highlighting everything important about BRICS.

[@RamalingamKB]

Is there enough Crude oil or Uranium in US? I don't think so😢

[@drivethrupoet]

Blows my mind that there are people here commenting there was no such thing as the petrodollar. Even worse today I also heard someone say this is a good thing for green energy initiatives. Because "now we just need metals for electronics" as if plastic is not a petroleum product, and also we can just magically send that metal around the world without fuel.😢

[@timothysanderford9241]

We are surrounded by village idiots. God help us all. 😢

[@bobbyelliott1911]

Greg mannarino has been yelling about these subjects for over 10 years so I have seen this progression for a long while I also am happy to say I have prepared for the end of the petrodollar

[@bonitaroache73]

So have I

[@dm0516]

Mannarino has been saying tomorrow it collapses for years. Idk how I feel about his stuff.

[@bobbyelliott1911]

This video has value he is correct I believe next year will be when we see major changes globally

[@43178]

How have you prepared?

[@iwanagohome326]

​@@43178I think he would have ditch the US Dollar, convert to gold, silver and other hard assets! And move out to a more affordable place to stay?

[@drexelmildraff7580]

Andy is brilliant. I work in geopolitics and even I learn something new from him every time I hear him speak.

[@clovisholz245]

Grandpa Biden's government can print 500 trillion dollars every 180 days, it's always been like this since the 1930s, now every American has a green toilet paper (called a dollar)😂😂😂

[@StevenSimpson-it5mv]

"It's always been like this" but somehow is President Bidens fault. For decades. Got it.

[@lamarravery4094]

Let me educate you, ever since Nixon took us off the gold standard, the dollar turned into toilet paper. It's nothing new, don't blame Biden. Every administration has been slowly destroying the integrity of the dollar.

[@garthchamberlain2470]

I'm still using the cheapest white ones 😂😂😂

[@deeznuts3145]

Bro your math is way off. 500 trillion every 180 days. Please tell me where you pulled this number out off?

[@ms-jl6dl]

You have no money.

[@ericmwenda6197]

Why is it that western world according to the interviewer, views democracy as the yardstick against which we measure morality of a country??

[@AlbertKoru]

Democracy is a fraud

[@russellhowell9854]

Our country has proven it can't even manage it's own finances. How do you expect other countries to respect us when we can't manage our own lives.

[@pedro97w]

Glad to see Schectman sees the problems with the USA

[@verschlossinvestments1344]

At 40 minutes - finally someone said it! That’s exactly how I see the west and usa. At last someone said the truth

[@toncuz8291]

I have to say...Michelle asks all the right questions...a real journalist.

[@JDin5D]

A recent interview with Alisdair Macleod pointed out the wording..”China is buying gold” is really China is selling its US debt/dollars….and if dollars are no longer safe the only other globally accepted safe bet is gold. So when you hear China is buying gold think of it more so as China is selling dollars….steadily and now rapidly.

[@ms-jl6dl]

Not just China (everybody is) and not just dollar (euro too). All those problems are even bigger here in the EU,nobody's buying EU debt and we are in bigger problems than US (wars,immigration,energy prices,food prices,political turmoil).

[@lgbfjb1183]

Venezuela 🇻🇪 Bolivar got so worthless decades ago, people were wheel barreling it around and people would dump the Bolivar on the ground so they can steal the wheel barrel..is the USD next?

[@greggmcgivern1141]

That is a story from Germany when the mark fell.

[@osamawilliams9042]

​@@greggmcgivern1141ALL THE EMPIRES went THROUGH The COLLAPSE of their Currencies. US is BEHIND Schedule 😑

[@vanevans645]

Decades ago? Try 2017-2018. I personally videoed it myself on the border at Cucuta.

[@torpedo1306]

Maybe the fed will try the Zimbabwe method of printing more and more, just with more zero's and bigger numbers. Those $100 trillion dollar notes are quite comical.

[@ReynaldoVillaceran-jv1je]

No doubt about it.

[@kenbogert4224]

The solution is a refocusing on our own land. We have great resources. But we got too used to buying everything with a credit card.

[@吳翰明]

In 1971, UK ambassador brought US 300 million to the Treasurey Department and asked for the Gold, Nixon had no choice but to close the Gold window 😅

[@lamarravery4094]

Nixon should've honored the transaction. We were piling up debts, living large, funding the war in Vietnam, wars are costly, we shouldn't have spent so much on that war. Now we're doing that in Ukraine as we did in Iraq and Afghanistan. All pointless wars that didn't gain the US a thing. The only one who benefitted from it was the military industrial complex.

[@dasfahrer8187]

The only reason so many countries are accumulating gold and dumping USD is because the global currency reset is coming fast and gold is the default universal standard. Get out of USD now and at least put it into gold and silver before it's too late. Owning some BTC as a hedge isn't a bad idea either.

[@Coover90210]

@dasfahrer8187. Wisdom. So many people feel like they have to choose gold OR btc. One third of a coin would put you in the top 1% if it pans out. That would run you just $22k in June 2024! You would have to be insane not to work toward buying that insurance!

[@davebellamy4867]

I doubt it very much. Gold takes away power from central banks to issue fiat and government's ability into float debt, including the BRICS+. I'm beginning to wonder if there will be a very short use of gold to transfer hegemony west to east, followed by fiat, tokenised everything.

[@fzr1000981]

No bitcoin will go to near zero, zero possibility it will be used as money on widespread basis. Central governments will always control money

[@raismobilenotary]

Cash is gone nobody has it

[@fzr1000981]

@Coover90210 bitcoin will never be money (CBDC is the future) and has no intrinsic value. Gold has a 5000 year history as a fiat basis or hedge. Bubble vs real money. Period

[@biggychaka6780]

US debt will rise to $50 Trillion by 2034 which is only 10 years from now. I believe they will reach that mark even faster especially if US jumps into a major conflict that it is always itching to. The rest of world is beginning to figure out that this debt will never be repaid. Like someone said . "If I owe the back $100 it is my problem and if I owe the bank $1 million it is the bank's problem".

[@StevenSimpson-it5mv]

And it will still be President Bidens fault for some reason ne economist can explain.

[@cresenteayo3638]

Absolutely true. Downward spin in increment of US dollar across the planet.

[@planetuniversal8085]

Actually, we've been talking about this for the people that are awake have been talking about this for 15 years.

[@Coover90210]

This is such a big deal. Yet most Americans (and news outlets) are oblivious. "Assume crash positions!"

[@robstrickland166]

and prepare to get rich, he who has gold will get rich, sorry Andy

[@shadolson189]

@@robstrickland166 when societies fall, being rich is of no consequence. This is not an "investment" position in a civilization that has lost its moorings to moral conduct. This is civilizational collapse.

[@dugalug1795]

This is just Saudi Arabia giving customers (nations) an alternative method of paying for their oil if they don't want to use USD. Customers CAN still use USD if they want to. But the mBridge system just gives the option of using a payment system bypassing the USD. Alternative payment systems like this will probably become more common & more utilised over time, due to the continuing "weaponisation" of the USD, sanctions & other economic warfare waged on other nations by the US & the Collective West. But I don't think anyone wants a "collapse" of the US or the EU. This would be very bad for the whole world, & of course other Great Powers like China know this. I think evreryone hopes the US will change its approach to other countries to a more diplomatic, peaceful, cooperative one rather than trying to "contain" other economies & pursuing a policy based on economic & military warfare.

[@mwilliamson4198]

yeah tend to agree

[@shadolson189]

You are naive.

[@AbuAhmed1243]

Great

[@thinkingtoomuch7974]

You didn't mention the theft of Russian assets held in US$

[@thinkingtoomuch7974]

​@@shadolson189and you're a bot, so I can't tell you to get a life

[@martinfearon6496]

They'll make owning gold illegal 😮

[@alrent2992]

They have to find it first.

[@shambalkaran9258]

In the Us has been done before

[@francoisjackson]

Only in the west

[@AIbot-r1k]

The United States confiscated private Gold holdings in the last great depression. History, always has a way of repeating

[@edieflores56]

If that happens can we just support our own Nation with our own dollars

[@matthewholbrook1265]

The ending of the petrodollar agreement doesn't mean that the Saudis are not taking dollars. It means that they are accepting all currencies for oil. The case with Russia is understandable. With all the sanctions put against them, being kicked off the swift exchange was a blessing for them. No longer being held to use the dollar

[@jimlewis5477]

When the dollar turns to nothing, save those dollars for me. I need to re wallpaper my house lol.

[@richardhansen342]

recycle it and use it for insulation in your walls and ceiling, It's a fire retardant, and doesn't mold when wet, bugs also won't eat it, as far as I'm aware.

[@ms-jl6dl]

You have none,we know.

[@BigBikeMad-ox8vo]

It could be worse ....if your savings were in Rubles !😂

[@martinschultz7525]

Trump, when in office, agreed to sell F-35 jets to Saudi Arabia and when "Brandon" entered the office, he canceled the deal.

[@YahuconanBell5344]

Andy is dead on. His view is perfectly spoken.

[@jon134a]

How scary. I am going to be a poor very poor retired man. Hum!

[@josephdoxy8670]

View points we will not get from the mainstream media . Good job!

[@ChargerX4u]

Stock up on canned food, solar panels and water filter systems, NOW !!!

[@awjames1121]

All food has expired dates, so better not to over stocks,?. Give others chance to by some also.....

[@OpheliaTheCat]

How about getting seeds and learn how to grow your own food.

[@ChargerX4u]

@@OpheliaTheCat Yes heirloom seeds are good for the long term but first you need to make it, survive until the spring growing season... and then live/eat until the fall harvest season and hope everything grew well and you have a way to preserve your harvest. I suggest looking into digging a root cellar as well...

[@niranjanmanjappa7086]

No more 4 day working week foreign trips fancy life style at the cost of rest of the world. The good thing perhaps would be families starts living together sensibly. The rest of the world will stop importing American culture and look at their respective indigenous cultures.

[@tinfoilhatplumber485]

we are supposed to be a REPUBLIC... Not a democracy.... quit saying that

[@theyareherewithus2944]

The republic died with the war between the states after which our constitution was replaced by a corporate structure under the Vatican-Crown Corporation Act, 1871.

[@tinfoilhatplumber485]

@@theyareherewithus2944 I said " supposed " to be... during the pledge I have never once said " and to the democracy for which it stands "

[@Mike.L.]

That always bothers me too. We were founded as a CONSTITUTIONAL REPUBLIC and we need to get back to it ASAP.

[@pvfeB7Ax]

​@@Mike.L.You're right. Good governance before all else. And if that means we have to temporarily suspend the constitution...

[@penyembelih]

You all not considering a "United Communist of America" 😂

[@TacticalTrucker]

My theory on a collapsed dollar: Trade balance adjustment Boost to domestic manufacturing Increased foreign investment Inflation control (reduction of existing debt burdens) Encouragement of spending and investing Reduced global financial influence Diversification of reserved currencies Economic reassignment

[@xiartist]

Investors are still in denial about the fundamentals of the economy. They expect rares will soon be cut and believe the topline GDP numbers signal a strong economy. However, they dont. Credit card balences are maxed out, more credit is hard to come by for consumers, a ton of companies are about to beforced into refinancing their debs at far higher interest and the regional bank backstop program is out this month. There's also the fact that inflation ticks higher than expected every single time the markets believe a rate cut is around the corner and a rate cut would cause a surge in inflation. The fed sees this stuff, guys. The only wild card for us investors is to actively engage the market by trading, we always over complicate things when we speculate. It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Sandy Barclays, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@xiartist]

Sandy Barclays program is widely available online..

[@lihlacerda]

If the market has taught me anything, it's that it always recovers, but I can't seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.

[@batiaz]

Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.

[@alynkiss]

Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.

[@AhsanKhan-xo2ys]

Sandy gave me the autonomy I need to learn at my own pace and ask questions when I need to she’s so accommodating.

[@sewrajawmee874]

The World Mourns Babylon’s Fall 9 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’

[@nathanielg2566]

Dollars are not held just to buy oil, some countries hold dollars as savings instead of their own currency because it is perceived to be more stable. So dollars will return to the USA because they are not needed to buy oil and not wanted as savings

[@Ashish02579]

Dollar is perceived as stable because there is no alternative, now when BRICS currency backed by gold will come in market, it will be perceived as more stable than dollar and there will be no fear of stealing it like USA is doing with russia. If USA wants, they can go to war but you can't steal others money

[@shadolson189]

Yes. Multiplying inflation exponentially. Decreasing buying power disproportionately. Repatriation will not mean more money in anyone's pockets. The banks will snatch up the money to meet their liquidity requirements. People are going to starve.

[@alanmcrae3679]

as a Brit, we used to celebrate the "special relationship". I feel it is now some thing to be avoided-

[@uweburkart373]

Welcome, now you are trapped! But don't worry we Germans are the same idiots and we are chained, too! We are damned!

[@Juandeer-z3o]

So ignorant

[@DA-eu3cv]

I think this is the best interview I've ever watched!

[@gwatt100]

Keep in mind, ANDY here sells gold.

[@raspao4]

This. Of course he would vouch for that commodity

[@southannst]

Andy Schectman is great

[@vineshnaidoo9402]

Remember the largest gold holdings are owned by the private citizens/ public of China (30 000 tons) and India (27 000 tons)

[@waynechien-vovietchongmy9724]

Not citizen...slave.. Civilian

[@grantvanzyl5239]

KITCO is the best! This gent (Andy, l believe) being interviewed is also extremely well informed, intelligent, insightful & informative & l am listening with ALL my attention! Thanks a million 👍

[@GavertzJones]

Wow - Go Andy… he is straight on and thank you for having him ! Great education and thorough thought on these subjects. Thank you Michelle!!

[@rogerburn5132]

ANDY SCHECTMAN IS THE BEST DEFINETLY LIKE. LIKE BUTTON 👍👍👍👍

[@mikec4845]

We are heading into a decade of transition just like we did during the 1970's when the US took the dollar off the gold standard and into exporting debt hegemony onto the world.

[@davebellamy4867]

I think it's on a bigger scale than that. How about a 300 year or 2000 year type of event?

[@raismobilenotary]

Cash is not around businesses suffering people broke

[@styroreality]

This is the most important subject that NOBODY in the US mainstream is discussing.

[@raismobilenotary]

People are broke running out of cash

[@steverosenberg745]

Talk about clarity, this guy has it in spades.

[@americofernandes1888]

Andy is absolutely right!

[@servehonestly]

Andy is so completely forthright n honest.. his views are very precious to b remembered treasured.. God Bless you

[@juanytzul4098]

“Minute 40” Our freedom is gone. Weak up!!!

[@DeniseIreland-i1q]

Michelle, superb show!! Thank you! Blessings

[@adamibrahim8263]

Andy you are Scaring the Shit out of the Sheeple. Let them live in their Bubble😭😭

[@vanevans645]

”The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -Macroeconomist Rudiger Dornbusch, referring to Mexico’s crisis of the 1990s

[@iwanagohome326]

Gradually.... then suddenly, all at once!

[@erwinkunze4091]

Please, tell me that you are not comparing third world country Mexico with the United States, the biggest economy in the history of the world. Your stupidity is astounding! 🤦🏻‍♂️

[@ramprasadshrestha3075]

Great Conversation about Petrodollars with Andy Schectman

[@tyarb52]

I so agree with Andy. Who can believe this reality!!

[@thewelshdragon.5979]

"Value system of the West " 😂😂😂😂

[@alrent2992]

U.S. democracy = lie, cheat, and steal.

[@RexRogers_]

Andy was spot on with this info about 1-2 years ago on your channel. Thank you

[@barbaramccoy6448]

You cannot eat silver, gold, graffine, cobalt, or rare earth minerals. Somewhere in the Bible it says they will throw their silver and gold in the streets like it has no value. The most precious thing on this earth is humans. From the time they are in the womb the Lord God Almighty creates us humans with precision and love. May we love each other as God loves us.

[@AsurmenHandOfAsur]

The bigger risk is conflict on the Korean peninsula and an invasion of Taiwan.

[@shadolson189]

False.

[@uweburkart373]

BS 😅! You have no idea!

[@AsurmenHandOfAsur]

@@shadolson189 Are you a Wumao?

[@AsurmenHandOfAsur]

@@uweburkart373 Are you a Little Pink?

[@AsurmenHandOfAsur]

@@uweburkart373 Peter Zeihan and Lei's Real Talks agree with me. And so does Tara O.

[@edwardkoopmans56]

It's like an 'indoor fire', the first 3 minutes it's 'your fire' then, if you don't manage to extinguish the fire, it's 'GET AWAY'!

[@stdeborah460]

I agree with where the dollar is going. I totally disagree with the idea that gold is going to save my poor girl a$s. I'm buying food, coffee and bullets.

[@tyronevincent1368]

Why bullets?

[@zvince13]

We are COOKED

[@robstrickland166]

like a dodo bird

[@TheMegaberg]

Another reason for Trump. He will allow oil production in US which will allow us to be more independent. Let the Saudi’s defend themselves

[@MrBucksutube]

domestic oil production is up on the trump era, try again

[@HiddenAgendas]

lol no one wants to attack Saudia Arabia other than the US and lsrahell.

[@mralchemist3976]

Are u dumb??

[@iwanagohome326]

Oh my, Trump to the rescue 😂

[@lamarravery4094]

Trump isn't the answer, Biden gets another term.