Tucker Carlson and Peter Schiff both talking about the eventually public Death of the American Dollar System. The pace of the exit from the Dollar is quickening and if you are in America, prepare for impact at some point in the near future. The writing is on the proverbial wall and it was a case of a self inflicted head wound. America shot itself.
And it shot itself by trying to shoot the Russians and the Chinese into submission. As the Sanctions on Russia failed, and the Russian success in occupying and capturing more territory increased, so did the American desperation to reverse those failures.
And as those efforts failed, America tried to yank on the leash thinking Russia and/or China would comply. Instead, both caged and on leash animals broke free and decided to be their own masters without an American owner. Now the Emporer as well as the Empire are caught naked with no clothes. Just a matter of time before the parade ends.
https://twitter.com/DollarVigilante/status/1644421865862037506
https://twitter.com/CollinRugg/status/1643418660567150592
As the world looks to the de-dollarize, to move away from the US Dollar as the reserve currency, this is something that I have been saying was inevitable for years. In fact, my entire investment thesis has been predicated on the eventuality that this would happen to the dollar.
And in fact, when Biden made the mistake of imposing the sanctions on Putin, I specifically called out the risks that the US was taking with respect to highlighting why the world needed to reject the US dollar.
Because there already was enough reasons, economic reasons why the world should not continue to extend this exorbitant privilege to the United States.
Peter Schiff
This “exorbitant privilege” has meat America gets items from the entire world for Free. No more trips to the Federal Reserve and the Us Treasury to print more Dollars on the photocopier. Finally the world has come to the point of waking up that Fraudulent Fed Money, printed for pennies and flogged to the world as a valuable paper currency.
Now add to this scenario, another nation going off leash aka Saudi Arabia. They just cut oil production, which will lead to higher gas prices and higher rates of inflation and higher interest rates and makes the job of bailing out failing Banks that much more expensive for the Feds. All the Dogs are going off leash. Who let the Dogs out?
Tucker Carlson focused on the fact that we depend on the dollar's strength for our standard of living. People take for granted all the goods that we're able to buy that we did not produce, you know, the production is the hard part, that consumption is the easy part.
How is it that Americans get to consume without having to do the hard part and produce?Well, because we produce dollars, right, we print money, and the rest of the world wants that money, because it's the reserve currency. And so they have to produce real stuff to get it.
We don't have to produce anything, we just print it, we don't even print it, we just concoct it out of thin air, you know, with, you know, X's and O's or whatever computer digits.
Peter Schiff
The end of concocted photocopier money is fast approaching and it will soon be Thelma and Louise time as we all go over the proverbial clif without any airbags or plans for what happens thereafter.
Twitter still will not allow embeds, so we are working on workarounds. Was it those Jesuits acting badly again?
Summary below of the Tucker Carlson segment.
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https://mashable.com/article/twitter-substack-blocked-embeds-interactions-on-tweets
Tucker Carlson: This will lead to poverty all over the US
00:00 The US Dollar as the World's Reserve Currency
Tucker Carlson discusses how the US dollar has been the world's reserve currency for nearly 80 years and how it has affected America's economy. He also talks about how recent events have threatened this status.
The US Dollar as a Universal Currency
For almost 80 years, the US dollar has been the world's reserve currency.
It was recognized universally in commerce and held globally as a long-term store of value.
The majority of international transactions were conducted in dollars.
Benefits of Being the World's Reserve Currency
America had privileges that no other country had because there were so many US dollars in circulation outside of the country.
This allowed for money to be cheap, which kept borrowing costs low inside the country.
Middle-class Americans could buy their own homes because of this.
The US government was able to run up astronomical debts without many obvious consequences.
Threats to the Status Quo
Recent events have threatened America's status as having the world's reserve currency.
Policymakers in the US went insane after Russia invaded Ukraine and appeared to be determined not just to topple Russia but also blow up the post-war economic order that had served America generously for so long.
Joe Biden imposed unprecedented economic sanctions against Russia that drove countries like China, India, Turkey, and others to accelerate their flight from using the US dollar.
03:19 Economic Consequences of Sanctions Against Russia
Tucker Carlson discusses how Joe Biden imposed economic sanctions against Russia and how they may have hurt America more than they hurt Russia.
Reckless Policies
Joe Biden imposed economic sanctions against Russia that were supposed to hurt them but ended up hurting America more than anything else.
These policies have driven countries like China, India, Turkey, and others to accelerate their flight from using the US dollar.
This may be the most reckless and destructive thing any American president has ever done to the United States.
The Long-Term Economic Consequences
The destruction of the Russian economy was celebrated as a win, but there were long-term economic consequences that were not considered.
These policies have driven countries away from using the US dollar, which threatens America's status as having the world's reserve currency.
04:19 Conclusion
Tucker Carlson concludes by summarizing how recent events have threatened America's status as having the world's reserve currency.
Threats to America's Status
Recent events have threatened America's status as having the world's reserve currency.
Policymakers in the US went insane after Russia invaded Ukraine and imposed economic sanctions against them that ended up hurting America more than anything else.
These policies have driven countries away from using the US dollar, which threatens America's status as having the world's reserve currency.
04:58 The Impact of Sanctions on Russia's Economy
Tucker Carlson discusses the impact of economic sanctions on Russia's economy and how it has affected the US dollar.
Economic Sanctions
04:58 Powerful economic sanctions were enforced against Russia, cutting off its largest banks in the International Financial system.
05:20 Republican Senators audited an agreement that promised to work but failed because Russia does not have a late-stage finance economy.
05:34 Russian oligarchs get rich from selling actual things that people need to live, such as oil, natural gas, iron, fertilizer, coal, and wheat.
06:00 Despite the sanctions being touted as the greatest ever devised, they did not hurt Russia long-term. Instead, they hurt America.
Dollar as a Weapon
06:20 The Biden Administration chose to wield the dollar as a weapon after both parties in Washington destroyed its stability with inflation.
06:37 The U.S froze the dollar reserves of Russia's Central Bank to cause bank runs and collapse Russia's credit system. This exposed the Biden Administration's willingness to violate trillions of dollars that foreigners rightfully own.
07:35 Smart foreigners started dumping the US dollar because it was no longer a reliable store of value. It became a political weapon that could be wielded at will against anyone who held it.
De-dollarization
08:16 De-dollarization began accelerating at remarkable speed almost without comment in American media over the last year.
08:34 Countries like Brazil, Pakistan, India, Malaysia are settling their trade-in currencies other than USD.
08:54 France is using Chinese currency in new liquefied natural gas trade while China and Saudi Arabia are now major business partners.
09:14 The Importance of Currency Stability
Tucker Carlson discusses the importance of currency stability and how printing too much money causes inflation, which saps the value of a currency.
Printing Money
09:14 Joe Biden announced another $10 billion check for foreign governments, working in close cooperation with the United States Congress.
09:33 Printing too much money causes inflation and saps the value of a currency. No one wants to hold a currency that is worth less consistently every year.
10:11 The Importance of the Strategic Petroleum Reserve
Tucker Carlson discusses the importance of the Strategic Petroleum Reserve (SPR) and how it is being sold off by the Biden administration. He argues that unlike fiat currencies like the US dollar, oil has inherent value and will always have value.
The Value of Oil in Comparison to Fiat Currencies
10:28 Oil is a valuable hard asset with inherent value, unlike fiat currencies like the US dollar.
11:04 Russia's wealth is not affected by their lack of dollars because they have a lot of oil.
11:24 In the last fiscal year, 218 million barrels of oil were sold from the SPR, including to China.
11:46 The SPR becomes even more vital as it disappears and as it does, the power of the United States ebbs.
Potential Consequences
12:57 If an increasing number of countries begin to reject the US dollar, all those dollars will come home and lead to poverty across America.
13:13 This will lead to typical political and cultural volatility that inevitably follows economic collapse disaster.
12:02 Ending War in Ukraine
Tucker Carlson argues that ending war in Ukraine immediately would help retain America's assets. He believes that politicians in Washington remain mired in their weird Boomer World War II fantasies where they're all Winston Churchill and Zelenski is head of French Resistance.
Importance of Ending War in Ukraine
12:02 Ending war in Ukraine immediately would help retain America's assets.
12:17 Defeating Russians in Ukraine is not even number 15 on America's list from its perspective.
12:39 It's way below ending importation of fentanyl into the country and preserving the strength of the US dollar.
14:09 The German Government's Economic Collapse
Tucker Carlson discusses how the German government blew up its own currency by taking on too much debt to pay for a pointless war. He argues that this is exactly what America has done repeatedly for decades, and if it continues, war against Russia will be the last war America can afford to fight.
The German Government's Economic Collapse
13:48 The German government took on too much debt in order to pay for a pointless War.
14:09 This is exactly what America has done repeatedly for decades.
14:30 War against Russia will be the last war America can afford to fight.
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For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Ephesians 6:12
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King Dollar is Fast Dying