@@Moonuuu that's a great question I've also been wondering if Russia's military is so inferior why do they need a UN gang why are they afraid to fight Russia on the battlefield .they're like a pack of wolves trying to take down a mighty lion
@@IveraGèe Lion? The Chinese economy has become larger than that of the US since 2016. Look at the GDP (PPP) figure. In fact, even if you look at the GDP (USD) figure, China's economy is now bigger than that of the entire EU. BRICS's total GDP is larger than that of the US AND EU combined. And BRICS's membership list is still growing. America First is the stupidest economic policy I have ever heard of. It is isolating the US and pushing countries like Canada and Mexico to join BRICS. What is the "lion" you are talking about? De-dollarization will crush the US economy. Neither the DOJ nor the GOP sees this. The US is destroyed from within by these idiotic politicians and their poorly educated blind supporters.
He most likely saw something about BRICS on television usually FoxNews. So Trump's making absurd decision as that would speed up other neutral players to join BRICS.
Brazil has been using its currency with bilateral trade with anyone who wants to exchange directly (without passing to dollars) for at least 10 years. I don't think this interview is well connected to reality.
@@srappytrex3946 you're misinformed. The reason the dollar has relevance is because it's the collateral for any exchange of goods or services between countries. Every time Argentina buys something from Japan, a portion of that transaction is used to pay a US bank. Because the transaction is, ultimately, made in dollars. So the buyer exchanges his original money for dollars, pays the bank for making the exchange, then uses those dollars to buy the stuff. The seller then exchanges dollars for their currency. Meanwhile, the US doesn't need to make any exchange. For instance, the US can effectively print money to import products and pay their entire external debt withou needing to produce anything of value. That's why the US external debt is irrelevant. Back in the day, people used gold for this, because gold had a stable universal value, but the exchange rates between currencies fluctuate a lot. Plus, everyone accepts gold. The dollar value is immaterial. It's based on "faith". There's nothing actually stopping you from buying anything in China using Euros, or any other currency you have, as long as the seller accepts that currency. Brazil and China are, now, trading using their respective currencies directly. Brazil literally pays China in the Brazilian currency, or the Chinese one. The US has no interaction in this transaction. The US can, at any point, block anyone from using their currency. If a country has a large amount of reserves in dollars, the US can freeze that money any time they want. Preventing any movements from that money. Or even controlling it completely. The dollar became THE currency after WWII, because all other economies were destroyed, the US was holding the gold from a lot of European countries in their banks, and the US used loans to finance the reconstruction of several countries. So, out of nothing, a large part of the world trade HAD to be made in dollars. Eventually using the dollar was just inertia. However, the US started to abuse their sanctions. By completely cutting considerable economies from the dollar, the US created a large market outside the dollar. Proving it wasn't that big of a deal, completely doable, and actually safer than using the dollar, considering the high risk of... Oh, I don't know, tariffs and sanctions out of nowhere. So, now, you have a lot of countries interested in trading with other currencies, just so they aren't as vulnerable to sanctions or influences from the US. Imagine, for instance, that only one bank accepted gold as currency, and that the bank could, at any moment, unilaterally freeze all your gold indefinitely. How long do you think it would take for people to start trading with other stuff? No matter how common "gold as a currency" was? See, we used gold as currency for WAY longer than we use the dollar. And we stopped doing that. ¯\_(ツ)_/¯
For an "expert" , this guy is talking a lot of bullsh*t. He has not heard of cryptocurrency and how that could influence the use of dollar. Also it's not the dollar that makes the BRICS countries run, it are the goods and recourses. China needs food, Brazil has it. Brazil needs electronics, China has it. This is how trade works, nobody eats dollars or watches tv on a dollar.
Russia and Iran for example have Completely De-dollarized. That's a country of 146+ Million people and 86+ Million people trading WITHOUT the U$ dollar. 🤷🏻♂️
So the interviewee’s argument against dedollarization is that the global financial infrastructure is built around the dollar, but that is exactly what the BRICS countries are trying to change, isn’t it? With the BRICS countries accounting for over 40% of global trade, as well as their political will to change that infrastructure, I don’t see any reason why they can’t do it.
@ according to the United States institute of peace, as of October 2024, “trade in goods between BRICS economies has considerably outpaced trade between the BRICS and G7 nations”
@@williammontano7863 For which they don't get much in return- thats the point. Us dollar is fiat and US just prints it as and when needed.. it isn't making a lot of globally needed products, in line with what it consumes from the world because of dollars - both the products and the services. So the new exchange he mechanism among BRICS is based on real products/commodities and currency mix. Other than real products, these countries have most of real resources, most of working age population and most of consumer markets.. So just because US prints dollars and has swift system, can't sit on top of it and benefit it without any real cost or payment in return. Hence Hence talk of bankruptcy- US doesn't really have much to offer for what it owes the world.
Turn your statement around; trade is 60% done with the US dollar. The countries most stable socially,economically, are western countries which have democracy and open markets and less corruption than the rest. Meanwhile the countries in brics are like the opposite of that in one respect or the other. And most of that 40% trading comes from India and China. Now you think that India and China will agree on how, where, and who runs this so call brics money. These two countries hate each other. This whole thing is a joke and no one will follow this money except the one that controls it.
@@maverick7291 I don't know about other western countries, but I think I know a thing or two about US, UK and France. None of them is stable, neither socially nor economically. I also seriously doubt that they are less corrupt than is China. Sure, western countries are democracies. But their governments are not nearly as good as their Chinese counterpart in delivering economic growth or scientific/technological advancement. Being the result of a democratic process seems the only thing by which they can justify their existence. Moreover, this democratic process is being eroded more and more by money and favouritism, or in other words, by corruption. I am sure the US dollar accounts for more than 60% of global trade today - otherwise, no one will say the US dollar is the dominant currency in global trade, but with the BRICS economies making up bigger and bigger portions of the global GDP and their governments working to dedollarize their trade, the share of USD is definitely going to decline. Just think about it: If you and your friends make most of the goods you need, will you really trade with each other using your adversary's paper money that he can not only print at will but freeze/confiscate at will? With the economic power and the political will in place, what is left is just software engineering. I am sure you have friends who can tell you it really is not a big deal.
There are less people in Canada than California. There is no excuse for there to be a housing shortage in Canada. There are plenty of Americans that would love Canadian citizenship that have construction skills.
It is no longer just a challenge. It is happening. De-dollarization is a major threat to the US economy which relies EXCLUSIVELY on deficit financing. If people stop using dollars, they will also stop buying US government securities. Deficit financing will soon become a curse. With much less demand for these securities, the US government will be forced to raise their interest rates to sell them or will have to stop overspending. The US economy can go into a major recession easily.
@@Sh1neful no dude - that discussion is over. Now trump has to do what his supporters elected him for. No excuses. End the Russian Ukraine war, day one. That will be the first promise that will be a lie. Grab your popcorn
"Petro station with nuclear weapon." Can you please be original? We have heard this statement for the past two years. I wonder why with all the NATO support, they're unable to defeat the petro station.
Russia inherited from the Soviet Union its former Super Power status, there were only two Super Powers in the world. And Russia has been taking this tradition very seriously. Ukraine, on the other hand, was never ever thinking of war. The flow of weapons from the West to Ukraine is very limited. If anything it is proving that the former before Super Power is more than justified. This said, Russia had to give the world a lot, not only oil, if they integrated into the world market. Now they can only hope that the Chinese not get tired of them like, let's say, North Korea.
Come on! Russia is not really fighting NATO but a country a third of her size supported by the West with arms coming too little and too late. Shame on you Russia!
Germany is in an slight recession due to inflation and expensive energy. Having a lack of investment in infrastructure while having a very low dept per capita ratio isn't a bad position to be in.
Don't be jealous that your stuck in a garbage country 😂😂😂Trump will wipe BRICS countries off the map. The USA dollar is the is the boss the USA dollar was always the boss the USA dollar will always be the boss. Trump is a true boss man how could you not love him ❤❤ Finally the USA has a president who is for the people. We love you trump ❤❤
How can you not ignore the GLASSES someone wears and instead focus on what they're saying? Are you a literal toddler incapable of holding your attention to something if there aren't bright flashing lights and sounds constantly going off to keep your attention like the toddler you're presenting yourself to be?
@@kezia8027Exactly. Comment is probably from an American accustomed to seeing glossy, highly polished presenters; style over substance, with the major emphasis on physical attractiveness. I found this gentleman to erudite, thoughtful in analysis, and making proper sense of things.
The best thing about the comments is that, by reading them first, you immediately see whether or not the video is worth seeing. This one seems an absolute waste of time.
People have to remember that , America is the least dependent on international trade! America is a continental economy! The percentage of its GDP exposed on international trade is only 19 percent! And half of that 19 percent is in USMCA! America will have more trade with south east Asia that EU in the coming decades! Due to its demographics and stability! America if done with EU! And Middle East!
South East Asia? You must be either in delusion or living under a rock for a long time. South East Asia has been a strong hold of China for a long time. India has been looking to get into South East Asia for a long time, but not able to even with all its past influence of cultural exchanges happened between India and South East Asia before Europeans started looting. How can the US exactly trade with South East Asia? Forget the US, even my country India gets a positive response from South East Asia than the US in South East Asia. If you go and ask any individual in South East Asia about choosing between the US and China, they would rather go for China than the US.
Okay, take emotion out of the dollar discussion 1. USA = 4.19 % of world population 2. EU = 5.59 % of world population 3. BRICS = 40 % of world population So, the brics dollar may be unavoidable
They ensure trade routes are safe, have the strongest military and head of wcb? They are financially the safest, given that its their system everyone is playing
@@devilsolution9781 So America has the strongest military is why we should use dollars. What does this call? Mafia? The world is waking up to see who is the real terrorist.
@@devilsolution9781 They provide nothing and impose sanctions on everyone. Using the dollar is dangerous; at one point, all your savings may be taken away from you.
@@devilsolution9781 that's not the reason. Back when Britain was the global power the global currency wasn't the British one. It was gold. The reason the dollar is used are: Practicality: everyone accepts it. Safety: since everyone uses it, the dollar becomes stable and predictable. Inertia: changing trading relationships to another currency requires work. It's convenient to continue doing stuff as they're currently done. As long as it's not hurting you. However, the US has abused their unilateral sanctions recently. Most of the global south sees the US as a bully. So, using the dollar started to hurt, it's no longer that safe, and there are a lot of countries willing to trade in other currencies.
@olivergarcia2304 Well let's be honest! Trump is playing with fire. There is 195 countries in the world. At some point it's going to be all of them against US!! . I just hope Trump is not going to take us to a worse position
Scared of what? General AI?? The U.S has no fear of the globe combined. AI is the only legitimate concern and the world's inhabitants can place their fear in that unknown.
Weaponization of US dollar is not in their best interest - 😂😂😂 perhaps they should have thought of that before they froze Russia's funds , there is no turning back now
Russia would love to have everybody trade in rubles in order to pump it up. The ruble was worth less than one U.S. cent last time I looked. 1000 rubles might buy a cup of coffee these days.
@excel5203 Russia can't afford debt. Nobody is willing to loan them money as they keep defaulting Thw US has massive debt as it is massively wealthy and can easily afford it.
Isn't it fair to say that there are two separate issues here. One is the International Trade and Currency reserve (US dollar to trade with). The second is what can be called a household currency. If a digital currency like Bitcoin can be purchased by people all over the world. Couldn't BRICS create a multinational digital currency backed by their central banks for use by their citizens. I'm thinking about Small and medium sized business from Africa, India, China et all making purchases across borders with each other. If they can figure out a way to create and control a digital currency used by the people firstly, then solving the International Country Trade and Currency issues will be halfway figured out. Seems like low hanging fruit to me and it would be a backdoor switch.
Your proposal has a lot of merits. Bitcoin failed as a currency because of its volitality. A digital currency pegged to the value of gold sounds feasible.
All that's said above is not wrong. But it misses a point. Any alternative payment infrastructure between other countries is wakening and undermining the dollar dominance. It is not necessary at all to "replace" it.
Obviously the US dollar is not as dominant as before, but it is impossible for BRICS to come up with anything to compete against it. The conflicts within that bloc are far greater than their shared goals 😂
Some European countries are already accepting BRICS currency. They are already in circulation. It is too late for Donald Trump to stop this from happening. The dollar will continue to fall.
Because during WWII the gold standard proved to be to unstable So everyone decided to pin their trade on the most stable currency at the time Which was the US dollar
That's life. You have an excellent expert speaking who's able to break down complicated things in simple language and the comment section is overflowing with hate.
The dollar might lose its reserve currency status, not because of anything BRICS does but because of the US federal deficit, now 7% of GDP. The subject was not mentioned during the recent election; neither party has any known plan for reducing it; and Trump's only idea is to raise more revenue from tariffs, while reducing taxes even further. Not even the USA can go on borrowing money for ever and ever. Sooner or later US bonds will seem increasingly risky and central banks will start to unload them. Gold reserves are already increasing for the first time in many years.
BRICS should use the Euro as their primary trade currency. None of the current BRICS countries could dominate the currency, it is already used in MANY nations and it would mess Trump up to no end.
Every country trade product and services! Not currency. If that is true product and service has “value “ based on the pruction cost which should be calculated accurately and therefore ready to sell for that value. Now , countries can trade it wherever they can make sense. I would suggest countries should allow at least 50% in local currency for international trade , so that books can be balanced all the time.
India is already trading without the US dollar with 18 countries, especially for oil because that's where our weakness is from the imports point of view. India is never in favour of any one country dominating the world be it the US, China, or even Russia. So, India just pursues its own interests rather than pandering to others interests like the EU.
US & Japan has both sanctioned China & India, even though they haven't sent any troops to fight🤷. I think more G7 allied Nations will sanction or create problems for China & India.
Brazil exports more to the BRICS than the United States and the EU combined, and the trend is increasing. Since 2018, Brazil has exported more to BRICS members than to the United States and the European Union (EU) combined. The BRICS, now numbering 11 countries, account for a large share of the world's natural resources, including 72% of rare earth minerals and 42% of oil. The current Brics now contribute 31.5% of world GDP, while the G7's share has fallen to 30%. The BRICS are expected to contribute more than 50% of global GDP by 2030, and the proposed enlargement will almost certainly advance this. China's GDP surpassed that of the United States in 2015 when comparing economies in terms of purchasing parity.
Do they understand how tariffs work in the USA ? Who pays double when a 100% tariff is imposed ? To help supporters of Trump, the answer is the buyer, the fuel you buy for your car has tariffs (taxes) added already by your government, so you are not paying the real (lower) price of the product.
A BRICS currency based on gold can be great! These countries collectively have a large repository of gold scattered across so it cannot be grabbed in one swoop like the USA and NATO did in Libya. Gaddafi was ousted in 2011 by Obama, Sarkozy, Cameron et al because he was in the process of setting up an African currency backed by tonnes of gold he had stockpiled during his 42-year dictatorship and he had already got the buy-in of the francophone block. Protests that arose in Libya during the Arab Spring were not organic like in Tunisia and Egypt but were an engineered cover for a CIA-backed coup to oust him and steal the gold. Rebels unwittingly went along with the plan because they were given weapons and allowed to set up fiefdoms in the East of the country.
My take from this 'conversation' is this, it wouldn't happen all of sudden or overnight, but it's a long slow pain and a trend that nobody could control, not even 'omnipotent' Trump.
Rapidly expanding BRICS+ and Partners are never interested in replacing the US$ but only determined to use their countries' currencies under the Currency Swap Mechanism in their own Trade and Business Transactions to reduce costs and political risks
Not as long America is one of their biggest customers. You think about it, you can't even stop your own people from wanting to go to the US, it's their dream, can you really think you can topple that
To put this in perspective, if China could sell their lower cost cars in West Virginia USA with 0 tariffs then they would still be unaffordable to low wage earners here. So I guess let them run wild with tariffs because we cant afford anything anyway...
US already too late to stop the shift, but USD will continue for a few decade before Inflation got to a level that burst the bubbles currently still building up.
Not another catch-22 issue. What’s in fact unacceptable is Iran’s regional retrograde bullying while Saudi Arabia’s crucial stance on BRICS for the near East is seemingly ambivalent. And Saudi Arabia has the numbers to show for 🙌🏼
Would you put your money in a currency backed by protectionist communist country or a very protectionist country as India or even on a falling brazilian or turkish currency? Even Gold or Bitcoin would be safer than relying on China which have money flow controls. Or better to put your money on zlotys.... o swish francs
WHY DO NOT HAVE A COMMON CURRENCY FOR THE ENTIRE WORLD IN GOLD CURRENCIES , THEN THERE IS NO UPS AND DOWNSFOR VARIATIONS ? THATS A BETTER IDEA NO MORE TUG OF WAR
The statement that "this is not gonna happen because of this this and that" actually is a big fallacy, those countries, even in a small scale, are ALREADY doing operations without dollar, China and Brazil are using renminbi between then, Brazil and Argentina are doing operations on their own currencies. What those american economists have to understand is that, their country is already pushing others to do operation in currencies other than dollar due the fact US uses dollar as weapon. This interview in a big fallacy
Tariffs is a great weapon but to weaponise it in trade war is a fatal mistake. This may bring better result on trade balance and job market in the short run but created hyperinflation and unemployment in the long run. China and US allies would take reciprocal tariffs on US exports too. There will be less business and less jobs between america and its trading partners.
Get 100 tariff is tough but the Brics should have expected the America reaction. They have enjoyed the absurd privilege for a long time, no way in the world they would let it go without a fight. I am more concerned of the rest of G7, they would have to take whatever given by Donald Trump and we all know Trump would take all he wants
If brics so weak than why USA scared?
BRICS+❤️🌎🦾😇
@@Moonuuu that's a great question I've also been wondering if Russia's military is so inferior why do they need a UN gang why are they afraid to fight Russia on the battlefield .they're like a pack of wolves trying to take down a mighty lion
@@IveraGèe Lion? The Chinese economy has become larger than that of the US since 2016. Look at the GDP (PPP) figure. In fact, even if you look at the GDP (USD) figure, China's economy is now bigger than that of the entire EU. BRICS's total GDP is larger than that of the US AND EU combined. And BRICS's membership list is still growing. America First is the stupidest economic policy I have ever heard of. It is isolating the US and pushing countries like Canada and Mexico to join BRICS. What is the "lion" you are talking about? De-dollarization will crush the US economy. Neither the DOJ nor the GOP sees this. The US is destroyed from within by these idiotic politicians and their poorly educated blind supporters.
His statement even made it more important to
dedollarize! GO BRICS!
If nothing can replace the mighty dollar then why Trump is so afraid 😅
Because he can’t live without picking a fight every day. Totally nuts!
@@muchachopicaron TDS much ?
He can print more. Why is he scared?
He most likely saw something about BRICS on television usually FoxNews. So Trump's making absurd decision as that would speed up other neutral players to join BRICS.
Whoever is talking to Trump about reserve currencies at MarALago, cut it out.
Come on if you put tariff on China and India , its US tax payer going to face Inflation .
Experts?????
I wouldn't underestimate the BRICS
None of these countries are stable enough economically to guarantee safe investment.
You guys are either misinformed or insane.
This gentleman is spot-on about the BRICs.
Let them underestimate BRICS and watch them wake up crying some more, just like they have been doing in the past decades 😂😂😂
I think the problem has been people over estimating Brics. Most of them don’t get along with each other
Brazil has been using its currency with bilateral trade with anyone who wants to exchange directly (without passing to dollars) for at least 10 years. I don't think this interview is well connected to reality.
The guy sounds like: cars will never replace horses! Horses have been used by thousands of years and can refuel anywhere. Where will you refuel cars?
So does the EU.
You have 0 idea how trade transaction works......
@@srappytrex3946you have 0 idea how brics country trade they bypass Swift system
@@srappytrex3946 you're misinformed. The reason the dollar has relevance is because it's the collateral for any exchange of goods or services between countries.
Every time Argentina buys something from Japan, a portion of that transaction is used to pay a US bank. Because the transaction is, ultimately, made in dollars. So the buyer exchanges his original money for dollars, pays the bank for making the exchange, then uses those dollars to buy the stuff. The seller then exchanges dollars for their currency.
Meanwhile, the US doesn't need to make any exchange. For instance, the US can effectively print money to import products and pay their entire external debt withou needing to produce anything of value. That's why the US external debt is irrelevant.
Back in the day, people used gold for this, because gold had a stable universal value, but the exchange rates between currencies fluctuate a lot. Plus, everyone accepts gold.
The dollar value is immaterial. It's based on "faith". There's nothing actually stopping you from buying anything in China using Euros, or any other currency you have, as long as the seller accepts that currency.
Brazil and China are, now, trading using their respective currencies directly. Brazil literally pays China in the Brazilian currency, or the Chinese one. The US has no interaction in this transaction.
The US can, at any point, block anyone from using their currency. If a country has a large amount of reserves in dollars, the US can freeze that money any time they want. Preventing any movements from that money. Or even controlling it completely.
The dollar became THE currency after WWII, because all other economies were destroyed, the US was holding the gold from a lot of European countries in their banks, and the US used loans to finance the reconstruction of several countries. So, out of nothing, a large part of the world trade HAD to be made in dollars. Eventually using the dollar was just inertia.
However, the US started to abuse their sanctions. By completely cutting considerable economies from the dollar, the US created a large market outside the dollar. Proving it wasn't that big of a deal, completely doable, and actually safer than using the dollar, considering the high risk of... Oh, I don't know, tariffs and sanctions out of nowhere.
So, now, you have a lot of countries interested in trading with other currencies, just so they aren't as vulnerable to sanctions or influences from the US.
Imagine, for instance, that only one bank accepted gold as currency, and that the bank could, at any moment, unilaterally freeze all your gold indefinitely. How long do you think it would take for people to start trading with other stuff? No matter how common "gold as a currency" was? See, we used gold as currency for WAY longer than we use the dollar. And we stopped doing that.
¯\_(ツ)_/¯
For an "expert" , this guy is talking a lot of bullsh*t.
He has not heard of cryptocurrency and how that could influence the use of dollar.
Also it's not the dollar that makes the BRICS countries run, it are the goods and recourses. China needs food, Brazil has it. Brazil needs electronics, China has it. This is how trade works, nobody eats dollars or watches tv on a dollar.
Russia and Iran for example have Completely De-dollarized. That's a country of 146+ Million people and 86+ Million people trading WITHOUT the U$ dollar. 🤷🏻♂️
So the interviewee’s argument against dedollarization is that the global financial infrastructure is built around the dollar, but that is exactly what the BRICS countries are trying to change, isn’t it? With the BRICS countries accounting for over 40% of global trade, as well as their political will to change that infrastructure, I don’t see any reason why they can’t do it.
But majority of their trades is with the West.
@ according to the United States institute of peace, as of October 2024, “trade in goods between BRICS economies has considerably outpaced trade between the BRICS and G7 nations”
@@williammontano7863
For which they don't get much in return- thats the point. Us dollar is fiat and US just prints it as and when needed.. it isn't making a lot of globally needed products, in line with what it consumes from the world because of dollars - both the products and the services.
So the new exchange he mechanism among BRICS is based on real products/commodities and currency mix.
Other than real products, these countries have most of real resources, most of working age population and most of consumer markets..
So just because US prints dollars and has swift system, can't sit on top of it and benefit it without any real cost or payment in return.
Hence Hence talk of bankruptcy- US doesn't really have much to offer for what it owes the world.
Turn your statement around; trade is 60% done with the US dollar. The countries most stable socially,economically, are western countries which have democracy and open markets and less corruption than the rest.
Meanwhile the countries in brics are like the opposite of that in one respect or the other. And most of that 40% trading comes from India and China. Now you think that India and China will agree on how, where, and who runs this so call brics money. These two countries hate each other.
This whole thing is a joke and no one will follow this money except the one that controls it.
@@maverick7291 I don't know about other western countries, but I think I know a thing or two about US, UK and France. None of them is stable, neither socially nor economically. I also seriously doubt that they are less corrupt than is China.
Sure, western countries are democracies. But their governments are not nearly as good as their Chinese counterpart in delivering economic growth or scientific/technological advancement. Being the result of a democratic process seems the only thing by which they can justify their existence. Moreover, this democratic process is being eroded more and more by money and favouritism, or in other words, by corruption.
I am sure the US dollar accounts for more than 60% of global trade today - otherwise, no one will say the US dollar is the dominant currency in global trade, but with the BRICS economies making up bigger and bigger portions of the global GDP and their governments working to dedollarize their trade, the share of USD is definitely going to decline. Just think about it: If you and your friends make most of the goods you need, will you really trade with each other using your adversary's paper money that he can not only print at will but freeze/confiscate at will?
With the economic power and the political will in place, what is left is just software engineering. I am sure you have friends who can tell you it really is not a big deal.
Trump wants Canada to become a state in the US. jeez
Please don't give him any ideas of imperialism
Trump is dumber than … you know
He already have them... Like his best buddy Xi, Kim and Poutin
There are less people in Canada than California. There is no excuse for there to be a housing shortage in Canada. There are plenty of Americans that would love Canadian citizenship that have construction skills.
@@larynOneka8080 No, now Canada has more people. It has 41 million vs California which has 38.9 million.
100 % tariffs will be paid by the American consumers on imported goods...it is easy to tweet...but not easy to implement.....
It is no longer just a challenge. It is happening. De-dollarization is a major threat to the US economy which relies EXCLUSIVELY on deficit financing. If people stop using dollars, they will also stop buying US government securities. Deficit financing will soon become a curse. With much less demand for these securities, the US government will be forced to raise their interest rates to sell them or will have to stop overspending. The US economy can go into a major recession easily.
Hah hah, “100% tariffs.” What an utter clown Trump is.
Btw, Kamala is over. You need to chill. Trump understands the bricks threat. Biden/Kamala just turned a blind eye to this problem.
@@Sh1neful no dude - that discussion is over. Now trump has to do what his supporters elected him for. No excuses.
End the Russian Ukraine war, day one.
That will be the first promise that will be a lie.
Grab your popcorn
He thinks he can do anything he wants😂😂😂 total clown
The "wonderful US economy". ROFL... I'm in the US. It is anything but WONDERFUL.
I agree 💯 with you brother it's getting tougher by the day
I learned everything I needed to know within the first 10 seconds of this interview. BRICS is an unlikely group and the guy can’t pronounce nuclear.
😂😂😂😂😂😂
"Petro station with nuclear weapon." Can you please be original? We have heard this statement for the past two years. I wonder why with all the NATO support, they're unable to defeat the petro station.
👍😂
Russia inherited from the Soviet Union its former Super Power status, there were only two Super Powers in the world. And Russia has been taking this tradition very seriously. Ukraine, on the other hand, was never ever thinking of war. The flow of weapons from the West to Ukraine is very limited. If anything it is proving that the former before Super Power is more than justified. This said, Russia had to give the world a lot, not only oil, if they integrated into the world market. Now they can only hope that the Chinese not get tired of them like, let's say, North Korea.
@@changedNameSorry Ukraine has been preparing for war under Western auspices since 2014.
But its true ... Ruzzia is a complete joke as a State ...
Come on! Russia is not really fighting NATO but a country a third of her size supported by the West with arms coming too little and too late. Shame on you Russia!
Dollar will take a hit
Keeps going up.
@@jannichi6431 Spook the market by appearing to be insane and unreliable, then we'll see if the dollar goes up.
@@jannichi6431 in the western currency markets - the west is irrelevant
No it won't, lol
This expert is super delusional about Russia. Bro can't even hide his Anti-Russia mindset.
Good reason.
Climate alone. Drilling in Arctic and missile air pollution.
Dozen more reasons.n
If someone has an 'Anti-Russian' mindset, why should they hide it?
He's a big joke
They wouldn't even invite you if you weren't anti-Russia
Russia is a 3rd world country.
Thats why Germany is down the drain with so called experts liked this one😂😂😂😂
Really. Then Germany wouldn't be able to afford $600+ million in military aid for Ukraine, eh, Ivanushka Durachok?
Germany is in an slight recession due to inflation and expensive energy. Having a lack of investment in infrastructure while having a very low dept per capita ratio isn't a bad position to be in.
@@TheTwangKings We have a debt break. Has nothing to do with the topic. There already is a lot of aid to ukraine.
Germany is a U.S. military base.
Your obsession with Germans..? I mean this vid is about De-Dollarization and so...
American Dollars failed American power also failed
Don't be jealous that your stuck in a garbage country 😂😂😂Trump will wipe BRICS countries off the map. The USA dollar is the is the boss the USA dollar was always the boss the USA dollar will always be the boss. Trump is a true boss man how could you not love him ❤❤ Finally the USA has a president who is for the people. We love you trump ❤❤
abin mathew
Interesting...
You are the expert. Bravo :)
Have a lollipop 🍭 🍭
You look very triggered oliver... are you ok?
You say it failed, but I bet a hundred dollars you'd take a hundred dollars
How can you take anybody serious wearing yellow glasses! I can see this guy doing the Trump YMCA dance.
More like Sprockets.
How can you not ignore the GLASSES someone wears and instead focus on what they're saying? Are you a literal toddler incapable of holding your attention to something if there aren't bright flashing lights and sounds constantly going off to keep your attention like the toddler you're presenting yourself to be?
@@kezia8027 He does look like someone in the YMCA dance.
@@kezia8027Exactly. Comment is probably from an American accustomed to seeing glossy, highly polished presenters; style over substance, with the major emphasis on physical attractiveness. I found this gentleman to erudite, thoughtful in analysis, and making proper sense of things.
The best thing about the comments is that, by reading them first, you immediately see whether or not the video is worth seeing. This one seems an absolute waste of time.
BRICS leaders are not clowns... They are way smarter and stronger
😂😂😂😂
People have to remember that , America is the least dependent on international trade! America is a continental economy! The percentage of its GDP exposed on international trade is only 19 percent! And half of that 19 percent is in USMCA! America will have more trade with south east Asia that EU in the coming decades! Due to its demographics and stability! America if done with EU! And Middle East!
Yes, if it doesn't go completely bankrupt. With such debts, only the dominance of the dollar keeps America afloat.
South East Asia? You must be either in delusion or living under a rock for a long time. South East Asia has been a strong hold of China for a long time.
India has been looking to get into South East Asia for a long time, but not able to even with all its past influence of cultural exchanges happened between India and South East Asia before Europeans started looting.
How can the US exactly trade with South East Asia? Forget the US, even my country India gets a positive response from South East Asia than the US in South East Asia.
If you go and ask any individual in South East Asia about choosing between the US and China, they would rather go for China than the US.
Okay, take emotion out of the dollar discussion
1. USA = 4.19 % of world population
2. EU = 5.59 % of world population
3. BRICS = 40 % of world population
So, the brics dollar may be unavoidable
Trump want Canada to become a state of USA ,Super power 😁😁 🗿🗿🗿🗿
If you have resources, why do you need dollar which is back nothing? Useless
They ensure trade routes are safe, have the strongest military and head of wcb? They are financially the safest, given that its their system everyone is playing
Because you don’t trade resources like you’re bartering. You need a “medium of exchange” to buy those resources. That’s where currency comes in.
@@devilsolution9781 So America has the strongest military is why we should use dollars. What does this call? Mafia? The world is waking up to see who is the real terrorist.
@@devilsolution9781 They provide nothing and impose sanctions on everyone. Using the dollar is dangerous; at one point, all your savings may be taken away from you.
@@devilsolution9781 that's not the reason. Back when Britain was the global power the global currency wasn't the British one. It was gold.
The reason the dollar is used are:
Practicality: everyone accepts it.
Safety: since everyone uses it, the dollar becomes stable and predictable.
Inertia: changing trading relationships to another currency requires work. It's convenient to continue doing stuff as they're currently done. As long as it's not hurting you.
However, the US has abused their unilateral sanctions recently. Most of the global south sees the US as a bully. So, using the dollar started to hurt, it's no longer that safe, and there are a lot of countries willing to trade in other currencies.
US is scard.🤣🤣🤣
Of who? Of Russia ???? Really ?????? Or Brics??? What a joke.
Buahahahhahahhahahhahhahha 🤣🤣😂😂🤣🤣😂😂
@@olivergarcia2304 scared of China and India
Yes, brace yourself and savings within a year.
@olivergarcia2304 Well let's be honest! Trump is playing with fire. There is 195 countries in the world. At some point it's going to be all of them against US!! . I just hope Trump is not going to take us to a worse position
Scared of what? General AI?? The U.S has no fear of the globe combined. AI is the only legitimate concern and the world's inhabitants can place their fear in that unknown.
Even when donOld recognizes a real problem - his instinct is to propose the worst "solution" possible.
Weaponization of US dollar is not in their best interest - 😂😂😂 perhaps they should have thought of that before they froze Russia's funds , there is no turning back now
The bald guy is a clown. "Russia is a petrol gas station with nuclear weapons".
Moscov??theyr toilet paper(ruble) is worth nothing and never was worth more than that 😂
They have moved away for the Dollar ..Keep Up !!!!!!
Russia would love to have everybody trade in rubles in order to pump it up. The ruble was worth less than one U.S. cent last time I looked. 1000 rubles might buy a cup of coffee these days.
The yen is doing much worse than the ruble but no one is laughing at Japan....
Atleast Russia is not bankrupt like USA - US gross domestic debt is crazy .
@@xcel5203Clearly you don't know what the national debt actually is
@excel5203
Russia can't afford debt.
Nobody is willing to loan them money as they keep defaulting
Thw US has massive debt as it is massively wealthy and can easily afford it.
Go BRICS 💪❤️ and Goodbye USD 💵
Literally the only competitor to the dollar is the euro and yen.
BRICS is irrelevant.
Isn't it fair to say that there are two separate issues here. One is the International Trade and Currency reserve (US dollar to trade with). The second is what can be called a household currency. If a digital currency like Bitcoin can be purchased by people all over the world. Couldn't BRICS create a multinational digital currency backed by their central banks for use by their citizens. I'm thinking about Small and medium sized business from Africa, India, China et all making purchases across borders with each other. If they can figure out a way to create and control a digital currency used by the people firstly, then solving the International Country Trade and Currency issues will be halfway figured out. Seems like low hanging fruit to me and it would be a backdoor switch.
Your proposal has a lot of merits. Bitcoin failed as a currency because of its volitality. A digital currency pegged to the value of gold sounds feasible.
All that's said above is not wrong. But it misses a point. Any alternative payment infrastructure between other countries is wakening and undermining the dollar dominance. It is not necessary at all to "replace" it.
Brics new money introducing
Obviously the US dollar is not as dominant as before, but it is impossible for BRICS to come up with anything to compete against it. The conflicts within that bloc are far greater than their shared goals 😂
If trump can raise alarm ,then he understands better
This so called expert has no Idea about the brics countries
. No singular data was provided, just talk and talk
Some European countries are already accepting BRICS currency. They are already in circulation. It is too late for Donald Trump to stop this from happening. The dollar will continue to fall.
This guy seems to be quite disconnected lol
Sounds like he is thinking they BRICS will have a single currency. This never been said lol.
Like in old days, why can't we do trade in gold. Problem solved for all nations.
Because during WWII the gold standard proved to be to unstable
So everyone decided to pin their trade on the most stable currency at the time
Which was the US dollar
Bad idea, so is crypto for many reasons.
It's unstable for certain nation, that prints currency out of Thin air
That's life. You have an excellent expert speaking who's able to break down complicated things in simple language and the comment section is overflowing with hate.
Yep, and insisting on their ideological views.
Is he in 2024?
The dollar might lose its reserve currency status, not because of anything BRICS does but because of the US federal deficit, now 7% of GDP. The subject was not mentioned during the recent election; neither party has any known plan for reducing it; and Trump's only idea is to raise more revenue from tariffs, while reducing taxes even further. Not even the USA can go on borrowing money for ever and ever. Sooner or later US bonds will seem increasingly risky and central banks will start to unload them. Gold reserves are already increasing for the first time in many years.
Philippines and neighboring asian countries will favor America when it comes to trade business.
NOPE. Every asian nation's largest trading partner is China, including the most prominent US allies Japan and South Korea,
BRICS should use the Euro as their primary trade currency. None of the current BRICS countries could dominate the currency, it is already used in MANY nations and it would mess Trump up to no end.
why would a sanctioned country use the EU currency that it's outside of their control?
Not at all. No BRICS nation will use a genocidal currency from a continent who keep breaking international Law and lapdog of United Snakes
Non of BRICS countries trust each other. Who would be able to control the currency.
@@defendandprotect-om5hv. You back it up with gold. Gold is gold everywhere...
The euro is western, the place dictators hate.
Great to hear frank, qualified news, compared to glossed-up US mainstream reporting. The only source for this kind of news in the US is NPR/PBS.
Every country trade product and services! Not currency. If that is true product and service has “value “ based on the pruction cost which should be calculated accurately and therefore ready to sell for that value. Now , countries can trade it wherever they can make sense. I would suggest countries should allow at least 50% in local currency for international trade , so that books can be balanced all the time.
Man I tried talking to people about this before the election and they just rolled their eyes. They don’t want to believe it so they don’t.
USD is already up ⬆️
Talking about "restricted currencies" and having a "free print currency" in the pocket. A real "expert"
U.S Dollar Dependence is directly opposed to Economic Sovereignty. Viva BRICS Currency!!!
Bringing in such expert to the channel is just self gratificational for US & the West, let's watch how it progresses.
Russia and China may survive without the dollar, but Brazil and India cannot.
China would collapse without trade with the U.S. and Europe
BRICS can't support their economy like the West does
Why not??
Russia is on its own with Putin.
India is already trading without the US dollar with 18 countries, especially for oil because that's where our weakness is from the imports point of view.
India is never in favour of any one country dominating the world be it the US, China, or even Russia. So, India just pursues its own interests rather than pandering to others interests like the EU.
That's why they joined BRICKS
Power clowns
With an "expert" like him, it is no wonder the Western economy is spiraling down the drain. He is a joke
Oh my God! "My beautiful blue eyes" "my beautiful body" "the wonderful US economy" .....
US & Japan has both sanctioned China & India, even though they haven't sent any troops to fight🤷. I think more G7 allied Nations will sanction or create problems for China & India.
Fraser tells it like it is! More Fraser please
Brazil exports more to the BRICS than the United States and the EU combined, and the trend is increasing. Since 2018, Brazil has exported more to BRICS members than to the United States and the European Union (EU) combined. The BRICS, now numbering 11 countries, account for a large share of the world's natural resources, including 72% of rare earth minerals and 42% of oil. The current Brics now contribute 31.5% of world GDP, while the G7's share has fallen to 30%. The BRICS are expected to contribute more than 50% of global GDP by 2030, and the proposed enlargement will almost certainly advance this. China's GDP surpassed that of the United States in 2015 when comparing economies in terms of purchasing parity.
⚠️ ⚠️ India seems to be taking on a lot of various positions.
Companies... CEOs
Political party directly or indirectly by marriage.
🇺🇸 Must abide by Rules...
That's the only way out for $ safety. Full Stop.
Do they understand how tariffs work in the USA ? Who pays double when a 100% tariff is imposed ? To help supporters of Trump, the answer is the buyer, the fuel you buy for your car has tariffs (taxes) added already by your government, so you are not paying the real (lower) price of the product.
welcome to the new era of hyper inflation
Dr. Evil 😂😂
A BRICS currency based on gold can be great! These countries collectively have a large repository of gold scattered across so it cannot be grabbed in one swoop like the USA and NATO did in Libya. Gaddafi was ousted in 2011 by Obama, Sarkozy, Cameron et al because he was in the process of setting up an African currency backed by tonnes of gold he had stockpiled during his 42-year dictatorship and he had already got the buy-in of the francophone block. Protests that arose in Libya during the Arab Spring were not organic like in Tunisia and Egypt but were an engineered cover for a CIA-backed coup to oust him and steal the gold. Rebels unwittingly went along with the plan because they were given weapons and allowed to set up fiefdoms in the East of the country.
My take from this 'conversation' is this, it wouldn't happen all of sudden or overnight, but it's a long slow pain and a trend that nobody could control, not even 'omnipotent' Trump.
It’s not all about the dollar, dominance in SWIFT, the settlement channel for all international payments is as big as the dollar.
Rapidly expanding BRICS+ and Partners are never interested in replacing the US$ but only determined to use their countries' currencies under the Currency Swap Mechanism in their own Trade and Business Transactions to reduce costs and political risks
Make America Manufacturer Again💪
dreams
America is made in China 💪
Petrol station with nuclear weapons?? wtf… how was this guy even allowed to appear in this program
Not as long America is one of their biggest customers. You think about it, you can't even stop your own people from wanting to go to the US, it's their dream, can you really think you can topple that
To put this in perspective, if China could sell their lower cost cars in West Virginia USA with 0 tariffs then they would still be unaffordable to low wage earners here. So I guess let them run wild with tariffs because we cant afford anything anyway...
US already too late to stop the shift, but USD will continue for a few decade before Inflation got to a level that burst the bubbles currently still building up.
Absolutely they can.
This was an excellent piece of journalism. I learned a lot. Thank you.
What did you learn
The more threatens the more countries will join hands in de dollarisation!
Not another catch-22 issue. What’s in fact unacceptable is Iran’s regional retrograde bullying while Saudi Arabia’s crucial stance on BRICS for the near East is seemingly ambivalent. And Saudi Arabia has the numbers to show for 🙌🏼
Ever heard of Euro currency ? dollar is just a bully tool, sooner or later it will be the 2nd choice.
Would you put your money in a currency backed by protectionist communist country or a very protectionist country as India or even on a falling brazilian or turkish currency? Even Gold or Bitcoin would be safer than relying on China which have money flow controls. Or better to put your money on zlotys.... o swish francs
Next on Sprockets ve dance
WHY DO NOT HAVE A COMMON CURRENCY FOR THE ENTIRE WORLD IN GOLD CURRENCIES , THEN THERE IS NO UPS AND DOWNSFOR VARIATIONS ? THATS A BETTER IDEA NO MORE TUG OF WAR
Rubbish. It will hit hard and unexpected
India and russia, China and russia trade arent using dollars
And none of them wants to use rubbles. 😅
Democracy is in full displays
The statement that "this is not gonna happen because of this this and that" actually is a big fallacy, those countries, even in a small scale, are ALREADY doing operations without dollar, China and Brazil are using renminbi between then, Brazil and Argentina are doing operations on their own currencies.
What those american economists have to understand is that, their country is already pushing others to do operation in currencies other than dollar due the fact US uses dollar as weapon.
This interview in a big fallacy
These experts are so out of touch that I don't know if I should laugh or feel sorry.
Every time Trump opens his mouth, he reminds the world exactly why BRICS needs to exist
Tariffs is a great weapon but to weaponise it in trade war is a fatal mistake.
This may bring better result on trade balance and job market in the short run but created hyperinflation and unemployment in the long run.
China and US allies would take reciprocal tariffs on US exports too.
There will be less business and less jobs between america and its trading partners.
Lol. Germany is just upset they haven't had world wide influence since 1943. It's OK west Poland, you'll get there one day.
Short answer: Yes.
Thank you.
Get 100 tariff is tough but the Brics should have expected the America reaction. They have enjoyed the absurd privilege for a long time, no way in the world they would let it go without a fight. I am more concerned of the rest of G7, they would have to take whatever given by Donald Trump and we all know Trump would take all he wants
Well said 🙏🏽
Here in south east asia, i just shaking my head watching this 'expert' sharing his thoughts. 🙄. Oh my dear DW 🤦
*Is he Elton John's brother?*
He's your dad
@@cbk666 You sure it isn't your mother 😊
😂😂😂😂
It's that Dieter from Sprockets? 😂
Russia has moved away from the dollar with success.