Pro. Wolff is correct in his analysis. One has to remember that China has trade with 160 countries. Why should the countries use the US dollar to trade with China if it could be done direct..
Lol As all world wealth KPIs such GDP nominal or GDP per capita are counted in the USD as well as all the debts hence the cheaper the USD the wealthier the world will be. For example 1. GDP per capita In Iraq before Saddam was hung 1 dinar = USD 3.2. Meaning if Iraq GDP is 11K dinar, in Saddam era it was USD 35.2K. But after Saddam was hung 1 USD = 1100 dinar. It means Iraqi GDP per capita will only be 11K/1100 = USD 10. Where is the remaining of USD 35,190? 2. Debt Let say Iraq has foreign debt of USD 1 million. In Saddam era it was only 300K dinar. But after Saddam was hung it went to 1,1 billion dinar. What a spam!
It will take a while for other countries to get together considering the world corruption. The real power is not in the governments for say. China is in the best situation and will take it's time to slowly gather other nations to their way of thinking. The United States is watching an hour Glass with our economy running out. The military complex is only one tool to slow it down. After the combined countries feel strong enough to down play the dollar. The only thing left is a nuclear war. The end of 7.5 billion people.
@Anthony Garibaldi ok it's more like 7.3. The US has been using the military for illegal means for about a century. Nothing is going to change. Except for the climate.
Well said.... Military might wont save the U.S from decline. ... The Presidents have run the country to the ground. They should have let the banking greed crumble. Instead they bailed it out. Why?
countries DO NOT need an army... but the US prefers to WASTE their money on wars instead of investing in education and poverty... That will never be the case and sadly, the level of education in the US is low and it shows.
When you use your hegemony of the world most use currency as a weapon ,as a threat , sanctions on country that will not do business with US company . The US chose this path .
@@jennifersmall4027 Regardless of which system of government(democracy, socialism or communism) , ultimately it is the interest of the common people that matters most. A good government is one that takes care of its citizens and alleviate poverty. To say that communism is bad and democracy is good is just too simplistic because China with a population of 1.3b, the people are happy with their communist government. Whereas in the US, a model democracy, most are not? Most Western style democracies have been hijacked by Interest Groups and their governments no longer serve the common people. They only serve the rich and wealth 10%. They are not real democracies but rather plutocracies. Eventhough the US president is elected by the people, the candidates are chosen by the parties? The presidential nominee are also funded by Interest Groups who wield considerable power in government policies.
parmar drawing parallels with Japan in the 80s is disingenuous. Japan was and still is an occupied state living in a gilded cage. When the US rattles its chains, Japanese industry complies. China is a different beast. It has stopped every overt US war on its borders over the last 70 years. From Tibet to Korea to Vietnam... China preserved its interests at great cost to itself. Now the US is trying to rattle China with a couple of flat tops roaming the South China Sea and a couple of economic attacks on Chinese companies. Same playbook as always. I don't see China backing down.
You are absolutely right! Not to mention China has 11 times the population of Japan, 25 times the landmass, and is at a 4:1 population advantage over the US. The US may be able coerce Japan by rattling the chains, it doesn't stand a chance with China.
I am Chinese, and the United States should prevent China from cooperating with Japan and South Korea, otherwise it will be another European Union, and it will even form an Asian currency. The dollar can no longer exploit China
I'm just joking, of course. This is an open secret🤣 Are there any Americans here and what do you think of the euro? How about RMB? These currencies are a nightmare for Americans
@@farzana6676 How many possibilities do you think?😂Without China's help, the Soviet Union could not disintegrate. You forget that China and the U.S. used to be allies
It’s called the Petro Dollar. Not the U S Dollar. Our foreign policy is centered around oil Period. Oil. Producing countries have to sell their oil in USDs. Period.
Yamani said : "....and the oil age will end long before the world runs out of oil". Electric cars, plasma engines... is going to render oil to a less significant role.
the question is the mistake when they ask if china wants to play usa at breton woods. no, they want to be china. they do not think like usa. so far as the scawy us empire, it had 20 years to lose in afghanistan. its economy is so financialized and so inequitable that it will never again have the economic power that was so important in winning wwii. carriers! the battleships of the new century. antiquated targets for anyone with a few million to buy a hypersonic missile. bonk one with a cheaply made nuclear mine and see what happens to the rest of the task force somewhere like one of the straits of south china sea or the arabian gulf.
If the US stop using its currency as a weapon with all these sanctions it stands a better chance of survival, from my perspective most of the World don't mind the US dollar as the hegemonic currency, what they dislike is them using it as a weapon, most times making Countries rich in resources poor, conversely and others with very little resources rich.
Empires end a lot like marriages do, at first little by little, and then, all of a sudden. Internal instability, corruption, growing inequality, economic mismanagement, eat slowly at the foundations. Once rotten enough, it just takes a little push for the whole building to come crushing down. It happened to the Romans, Persians, Byzantines, Spanish, Ottomans, Russians, French, British....etc. The USA is not going to be any different.
When technology catches up and be able to make gold from materials it will be just the same as any other metals worth. What really is taken for granted is Human and Nature.We ourselves. Sadly, we are just reduced to money.
I don't think the Yuan will be the next currency, as much as China would LOVE that, I think they are smart enough to understand that Multlateral Multipolar trade between countries using their own currencies is more likely once the Global Reserve Currency status ends in general and for the US in particular.
Well done for a very well conducted interview with the distinguished guests, providing a well balanced factual analysis and debate. Thoroughly enjoy it. Many thanks!
Not long. Saudi oil can only last 20 years. Iraq, Iran, Venezuela and Russia will control oil supply. When they dont deal in greenback, the USD will decline as international currency. They will start as a Barter Trade.
The direction of change is not addressed in this interesting conversation. People that know what is going on are moving to Bitcoin and Gold to sidestep the coming train wreck.
The Newton's 1st law: Once an object moves, it keeps moving unless there is/are external force(s) act on it. I'd say that Subsidy, Tariff, Tax, National Security excuse, economic embargo are all external forces as frictions act on the economy as an object that is moving with its intrinsic Market Oriented force. Also like physics, the friction is proportional to the speed of the object. China Economy has been going too fast in the last 3 decades circa there for the external friction forces are quite profound. It's so paradoxical that the so called Command Economic China nowadays is more Market Orientated than the once relatively free market US, Ref. WTO ruling on US vs China trade dispute 2017 up to now (Huawei, 5G Tik Tok, WeChad who knows what else) The wealthy Western economies on persistent decline, the collapse of the Soviet, the reforms of China & to less extent Vietnam are the telltales of the Market Orientation would prevail.
@Kalambong Kalambong It's been exist actually. Its existence has always been parallel to mankind in the form of Demand vs Supply at the willingness of the buyer & seller or gold/silver exchanged for goods/services include sexual favour exchanged for whatever. The 1st act of the external interference might be Taxes, Levies, Duties ... The external interference actually existed before human civilization. Neanderthals satisfied their Demand by forced Supply. Include forced sexual supply. The big guys not only force the weaker supply but also forced Demand. The Opium war of Britain & China is an example of forced Demand. Then we as human deployed civilization (system of laws) to eliminate barbaric acts of violence. We've not always won.
China never wants to be the reserve currency. They just don’t want to be told which country they can trade with (or risk being sanctioned.). So the fact that China currency only comprise of 3% of world trade and will be a long while before becoming a global dominance is a false premise.
Moving away from the US$ is not the same as moving towards the RMB. The Chinese wants to reduce their dependence on the USD. But they are smart enough to know that the RMB cannot replace the USD, nor they desire to.
The US dollar dominance comes at a heavy price: 10-15 % of its population do not have a reasonable salary or jobs and live poorly, that is pay-check to pay-check each week. Food security is precarious for these people. With the coronavirus, the percentage has risen to 20% or more.
The US Imperial model is slowly becoming obsolete: too expensive... but China is in many ways a carbon copy of that. The Indians are not too heavily invested in the methods and may actually be in a unique position for the next generation growth model.
It's wishful thinking to believe dollar dominance is on a decline. America will prevail and correct itself and remain dominant force for years to come. Projection is just that an estimation, one fact is clear America is the dominant country right now and will be for the foreseeable future.
Let’s be reasonable and do some thinking. All these experts complaining about the DOLLAR. The Dollar was supposed to crash so many times and it didn’t. The Dollar is going to hang tight for a while. All countries have the same problem, they print currency to survive. My E.S.P. tells me that the Dollar will stay alive for at least another 4 to 5 years before a world wide crash will happen. Considering all facts, also that no body is perfect, I COULD BE WRONG. 🤔
America has been ‘top heavy’ for along time, the distance between the ‘haves and have nots’ has become far too wide. As a result, America has begun to fall apart. If you are not ‘successful and wealthy’ you are nobody and it is your fault. As a result America is decomposing. In China everyone has a job of some kind and people work to the betterment of the country and therefore are racing ahead of America, especially now that Trumpism has taken hold., which cares only for the rich and powerful. Governments have always put too much money into the war machine and too little into needs of the people. The day of reckoning could be very close. Vote wisely America.
2045 China has definitely grown past America if they can continue. 2035 if it goes favourable for China or unfavourable for America. We have to wait until than for a big big change of power, in the meantime Europe can step in if America detoriates too much.
Even though there are a pandemic and the lack of leadership nationally in the US has made recovery difficult, the US dollar has not decreased in value. It will not be devalued unless for political reasons China, Russia, Iran, and other countries decide to circumvent the use of The Dollar to avoid US sanctions. US hegemony will continue for many years and there is no indication that its power will diminish any time soon. The increasing problem is that China must protect its interest in its own backyard and The US has determined that China will become the leading world economy. The reality is that both India and China are so large that in trade they will both have a greater GDP than The US. That does not mean that The Dollar is having problems!!
All countries have unique resources and it's a race to the bottom. The U.S.A. has things going for it that other countries will never have, they will bottom last.
cant compare japan and china. china is very much bigger and not dependent on US for defense. the most difficult adjustment americans will face is living within their means.
Well we Pay a Lot of Tax in America to go towards Paying our debt , for Now I would not want to Live in any other Country full time . We have a Strong Dollar .
I don't want China to become all powerful but at the same time I want the USA to humble down and not interfere with others. I want two benign powers keeping in check of each other. What it's gonna be? Can they remain gentle? Is there a need for a third power?
the problem of all currencies is that they are national/ a new global reserve currency is unavoidable / to make all nations on equal terms/ a king transaction currency can keep all nations at peace "since wars exist on money" arms and the industrial military complex/ evolution on the economical realm have to accept a new king currency to be able to subsist/ the new global currency can restrain wars & exploitations, have master & slave distinguishes by values not a national currency / central individual banks remain however look over the global reserve currency/ as a name I recommend the BREN is as well a mythological name & merges with the numerous brand names of BANKS & organizations.🤗
The USA is vindictive and mean spirited, since loosing face at the Bay of Pigs and Afghanistan the citizens of these two countries have been and will continue to suffer.
It's the Chinese, the Chinese are rocking the boat, continually. Someone of the gods is playing with them. If they had peace with their neighbors, particularly India, Russia and Japan, they would have a good chance at an alternative.
As all world wealth KPIs such GDP nominal or GDP per capita are counted in the USD as well as all the debts hence the cheaper the USD the wealthier the world will be. For example 1. GDP per capita In Iraq before Saddam was hung 1 dinar = USD 3.2. Meaning if Iraq GDP is 11K dinar, in Saddam era it was USD 35.2K. But after Saddam was hung 1 USD = 1100 dinar. It means Iraqi GDP per capita will only be 11K/1100 = USD 10. Where is the remaining of USD 35,190? 2. Debt Let say Iraq has foreign debt of USD 1 million. In Saddam era it was only 300K dinar. But after Saddam was hung it went to 1,1 billion dinar. What a spam!
Prof. Parmar makes a much more pragmatic analysis of the two guests, even considering the few good points Prof. Wolff brings up. The moderator is awful tho
Secure your future with a decent invest because you never can tell what can happen in the economy so that what ever happens you are sure your income is safe
I do not trust TRT or like them much. In the past there was too much western style propaganda BS on TRT. But I will say that this video was actually well balanced. Intellegent and without conservative or neo liberal assholes, brought on to give the neutral BS lip service. I really get tired of listening to self promoting stupidity and malice.
Its called HATE。I dont know why people dont see it clearly that they are being manipulated to hate people or wanting to kill them。thats the kind of mindset they are building from watching those prominent news channels。
This guy does a shitty job at explaining the importance of a dollar being the global reserve status. In short, the credit card is taken away from the spoiled child. With that said, the price of everything shoots through the roof! Food, military presence, etc. China and Russia become the US, and the US becomes the India of old. This is how easy it is to solve the issue, put a cap on what the corporations and the CEOs make and spread the difference to it's workers. Just as it didn't happen in Rome, it won't happen in the US. GREEEDDD!!!!
Pro. Wolff is correct in his analysis. One has to remember that China has trade with 160 countries. Why should the countries use the US dollar to trade with China if it could be done direct..
Because the United States Midwest feeds the world
@@iBANGgears Sorry! Not any more.
China is mad because they are running out of US dollars
@@nolimit6241
No problem. Still have the $3 trillion American debt.
Boy, this is the source of the contradiction and conflict between China and the United States. Everything else is superficial.
Professor Wolff is a very smart guy.
Lol As all world wealth KPIs such GDP nominal or GDP per capita are counted in the USD as well as all the debts hence the cheaper the USD the wealthier the world will be.
For example
1. GDP per capita
In Iraq before Saddam was hung 1 dinar = USD 3.2. Meaning if Iraq GDP is 11K dinar, in Saddam era it was USD 35.2K. But after Saddam was hung 1 USD = 1100 dinar. It means Iraqi GDP per capita will only be 11K/1100 = USD 10. Where is the remaining of USD 35,190?
2. Debt
Let say Iraq has foreign debt of USD 1 million. In Saddam era it was only 300K dinar. But after Saddam was hung it went to 1,1 billion dinar. What a spam!
Wolff is a pompous commie ass clown
no he is a marxist - pure idiocy.
He is a dumb commie come get your friend
@@jennifersmall4027
Your brain is small, just as your name.
Whenever Professor Wolff open his mouth i learn something.
Hopefully, it is to do the opposite of whatever he says. Marxism will kill you every time.
Military might will not save US from decline
It will take a while for other countries to get together considering the world corruption. The real power is not in the governments for say. China is in the best situation and will take it's time to slowly gather other nations to their way of thinking. The United States is watching an hour Glass with our economy running out. The military complex is only one tool to slow it down. After the combined countries feel strong enough to down play the dollar. The only thing left is a nuclear war. The end of 7.5 billion people.
@Anthony Garibaldi ok it's more like 7.3. The US has been using the military for illegal means for about a century. Nothing is going to change. Except for the climate.
Well said.... Military might wont save the U.S from decline. ... The Presidents have run the country to the ground. They should have let the banking greed crumble. Instead they bailed it out. Why?
countries DO NOT need an army... but the US prefers to WASTE their money on wars instead of investing in education and poverty... That will never be the case and sadly, the level of education in the US is low and it shows.
@@sofia01ht someone knows their history I suppose. Empire decline symptoms 🦅
Prof Wolf analysis has real points
When you use your hegemony of the world most use currency as a weapon ,as a threat , sanctions on country that will not do business with US company . The US chose this path .
America is the Dollar, when it's gone so will the US.
Not if the USA uses it for itself.
Honestly cant wait lol. Just hoping we use neutral crypto as trade curreny next
Prof Richard Wolff is very insightful. I share his views. Great debate.
Marxism is a dead end.
Jennifer Small useless argument without any backing evidence.
@@jennifersmall4027 Regardless of which system of government(democracy, socialism or communism) , ultimately it is the interest of the common people that matters most. A good government is one that takes care of its citizens and alleviate poverty. To say that communism is bad and democracy is good is just too simplistic because China with a population of 1.3b, the people are happy with their communist government. Whereas in the US, a model democracy, most are not? Most Western style democracies have been hijacked by Interest Groups and their governments no longer serve the common people. They only serve the rich and wealth 10%. They are not real democracies but rather plutocracies. Eventhough the US president is elected by the people, the candidates are chosen by the parties? The presidential nominee are also funded by Interest Groups who wield considerable power in government policies.
We live in US$ Panamá. Our pensions are in Euros. The Dollar lost this year 15%.Haha!
parmar drawing parallels with Japan in the 80s is disingenuous. Japan was and still is an occupied state living in a gilded cage. When the US rattles its chains, Japanese industry complies. China is a different beast. It has stopped every overt US war on its borders over the last 70 years. From Tibet to Korea to Vietnam... China preserved its interests at great cost to itself. Now the US is trying to rattle China with a couple of flat tops roaming the South China Sea and a couple of economic attacks on Chinese companies. Same playbook as always. I don't see China backing down.
You are absolutely right! Not to mention China has 11 times the population of Japan, 25 times the landmass, and is at a 4:1 population advantage over the US. The US may be able coerce Japan by rattling the chains, it doesn't stand a chance with China.
I am Chinese, and the United States should prevent China from cooperating with Japan and South Korea, otherwise it will be another European Union, and it will even form an Asian currency. The dollar can no longer exploit China
I'm just joking, of course. This is an open secret🤣 Are there any Americans here and what do you think of the euro? How about RMB? These currencies are a nightmare for Americans
@@戚文玮 Freedom always wins over communism. As Americans we know how this game ends. Like it did with the collapse of Soviet Union.
@@farzana6676 How many possibilities do you think?😂Without China's help, the Soviet Union could not disintegrate. You forget that China and the U.S. used to be allies
British pound use to be the dominant currency... nothing permanent in this world...
British pound is still dominant
@@filipvasilevski8115 In what universe?
@@filipvasilevski8115 🤣🤣🤣🤣🤣🤣
Never heard of you before but that was very good and I appreciate it. All 3 did excellent job.
The fiat toilet dollar is ending.
The problem is having an alternative to the US dollar that can be used as a reserve by the world. Is there any viable alternative yet? Crypto?
Gold.
Or latinum.
It’s called the Petro Dollar. Not the U S Dollar. Our foreign policy is centered around oil Period. Oil. Producing countries have to sell their oil in USDs. Period.
Yamani said : "....and the oil age will end long before the world runs out of oil". Electric cars, plasma engines... is going to render oil to a less significant role.
the question is the mistake when they ask if china wants to play usa at breton woods. no, they want to be china. they do not think like usa. so far as the scawy us empire, it had 20 years to lose in afghanistan. its economy is so financialized and so inequitable that it will never again have the economic power that was so important in winning wwii. carriers! the battleships of the new century. antiquated targets for anyone with a few million to buy a hypersonic missile. bonk one with a cheaply made nuclear mine and see what happens to the rest of the task force somewhere like one of the straits of south china sea or the arabian gulf.
If the US stop using its currency as a weapon with all these sanctions it stands a better chance of survival, from my perspective most of the World don't mind the US dollar as the hegemonic currency, what they dislike is them using it as a weapon, most times making Countries rich in resources poor, conversely and others with very little resources rich.
Empires end a lot like marriages do, at first little by little, and then, all of a sudden. Internal instability, corruption, growing inequality, economic mismanagement, eat slowly at the foundations. Once rotten enough, it just takes a little push for the whole building to come crushing down.
It happened to the Romans, Persians, Byzantines, Spanish, Ottomans, Russians, French, British....etc. The USA is not going to be any different.
trade now!!!
+1. 4. 8. 4. 2. 0. 0. 5. 3. 9. 4
Historically, it hasn't gone well for those that went against the dollar...
Banksters Don't Lose!
So refreshing to hear some real logic and someone who actually speaks the truth with facts! Unlike some unnamed government officials!
Gold and Silver are money and all paper currencies are trash.
When technology catches up and be able to make gold from materials it will be just the same as any other metals worth. What really is taken for granted is Human and Nature.We ourselves. Sadly, we are just reduced to money.
I don't think the Yuan will be the next currency, as much as China would LOVE that, I think they are smart enough to understand that Multlateral Multipolar trade between countries using their own currencies is more likely once the Global Reserve Currency status ends in general and for the US in particular.
It won't last long. The digital dollar is going to replace the US currency.
Gold dollar--oil dollar--debt dollar--War Dollar
Well done for a very well conducted interview with the distinguished guests, providing a well balanced factual analysis and debate. Thoroughly enjoy it. Many thanks!
BRICS will make a new reserve currency. SCO countries will be the first to adopt. Then the rest will follow very fast.
Not long. Saudi oil can only last 20 years.
Iraq, Iran, Venezuela and Russia will control oil supply. When they dont deal in greenback, the USD will decline as international currency. They will start as a Barter Trade.
The direction of change is not addressed in this interesting conversation. People that know what is going on are moving to Bitcoin and Gold to sidestep the coming train wreck.
Roundtable.... What a name.
If the national debt go over 45 trillion then trouble will arises...
The Newton's 1st law: Once an object moves, it keeps moving unless there is/are external force(s) act on it.
I'd say that Subsidy, Tariff, Tax, National Security excuse, economic embargo are all external forces as frictions act on the economy as an object that is moving with its intrinsic Market Oriented force.
Also like physics, the friction is proportional to the speed of the object. China Economy has been going too fast in the last 3 decades circa there for the external friction forces are quite profound.
It's so paradoxical that the so called Command Economic China nowadays is more Market Orientated than the once relatively free market US, Ref. WTO ruling on US vs China trade dispute 2017 up to now (Huawei, 5G Tik Tok, WeChad who knows what else)
The wealthy Western economies on persistent decline, the collapse of the Soviet, the reforms of China & to less extent Vietnam are the telltales of the Market Orientation would prevail.
@Kalambong Kalambong It's been exist actually. Its existence has always been parallel to mankind in the form of Demand vs Supply at the willingness of the buyer & seller or gold/silver exchanged for goods/services include sexual favour exchanged for whatever.
The 1st act of the external interference might be Taxes, Levies, Duties ...
The external interference actually existed before human civilization. Neanderthals satisfied their Demand by forced Supply. Include forced sexual supply.
The big guys not only force the weaker supply but also forced Demand. The Opium war of Britain & China is an example of forced Demand.
Then we as human deployed civilization (system of laws) to eliminate barbaric acts of violence. We've not always won.
The $ will dominate for a decade at the most.
Another 20 years max according to Swiss bank.
2023 death of the dollar. Wanna bet?
I'll take the bet. It will take longer time IMO.
Nobody can bet against USA - Bill Clinton.
Betting against the US. Nope.
The Fed to Start Depositing Digital Dollars directly to Each American Digital Wallet !! th-cam.com/video/mA9QlqAplbk/w-d-xo.html
It will lose 50% of its Value by 2022.
In my lifetime I might witness two empires collapsing: USSR in the 90s and pretty soon USA.
The day the American empire collapses the world will have a huge celebration to mark the end of oppression
China never wants to be the reserve currency. They just don’t want to be told which country they can trade with (or risk being sanctioned.). So the fact that China currency only comprise of 3% of world trade and will be a long while before becoming a global dominance is a false premise.
Moving away from the US$ is not the same as moving towards the RMB. The Chinese wants to reduce their dependence on the USD. But they are smart enough to know that the RMB cannot replace the USD, nor they desire to.
Great interview, hope to see more 👍👍👍👍
The book "Exorbitant Privilege" by Barry Eichengreen is worth the read.
The US dollar dominance comes at a heavy price: 10-15 % of its population do not have a reasonable salary or jobs and live poorly, that is pay-check to pay-check each week. Food security is precarious for these people. With the coronavirus, the percentage has risen to 20% or more.
The US Imperial model is slowly becoming obsolete: too expensive... but China is in many ways a carbon copy of that. The Indians are not too heavily invested in the methods and may actually be in a unique position for the next generation growth model.
The entire reserve system is under attack, not just the US Dollar.
very good journalism. keep up the good work.
It's wishful thinking to believe dollar dominance is on a decline. America will prevail and correct itself and remain dominant force for years to come. Projection is just that an estimation, one fact is clear America is the dominant country right now and will be for the foreseeable future.
It's wishful thinking to believe dollar dominance wont decline
Great discussion!
How long will the bubble last? Not very much longer. Buy Bitcoin and some gold.
Excellent discussion 👏
It requires money to make money. this is the best secret I have ever discovered we don't make money, we EARn and MULTIPLY money
Most intelligent word I've ever heard
The rich keep spending like the poor and investing without stopping why the poor kept spending like the rich still not investing like the rich
Bitcoin trading right now will be at every wise individuals list. In 2years you'll be ecstatic with the decision you made today
@@juanhenandez1109 Exactly!
@@juanhenandez1109
Seems the crypto market is overtaking the stock market in the recent bull run haha
" IN GOD WE TRUST ". GOD TRUSTs YOU NO MORE. Ask yourself what you have had done the LAST 200 odd years. ENOUGH IS ENOUGH. GAME IS OVER.
Gold and silver is true money it will come back again in the near future
Lmao he cut him off at 8:40 cuz he was about to say Voldemort’s name- the CCP controls all media!
And then he compares chinese yuan to the pound sterling- they don’t even hide that they push the agenda of the CCP 👌
@@evanlittle3473 trade now!!!
+1. 4. 8. 4. 2. 0. 0. 5. 3. 9. 4
I totally agree with mr Wolf 🐺
Don't forget that the Indian currency can be a world currency as well if you dare to hold them.
Let’s be reasonable and do some thinking. All these experts complaining about the DOLLAR. The Dollar was supposed to crash so many times and it didn’t. The Dollar is going to hang tight
for a while. All countries have the same problem, they print currency to survive. My E.S.P. tells me that the Dollar will stay alive for at least another 4 to 5 years before a world wide crash will happen.
Considering all facts, also that no body is perfect, I COULD BE WRONG. 🤔
If ever this pandemic last another 2 years, it might be sooner. Our current world economic system "Capitalism" is also in danger.
Default all our debts and send out the gunboats to those countries that object.
This was very balanced and informative..I appreciate it
What is the time, Mr Wolf?
America has been ‘top heavy’ for along time, the distance between the ‘haves and have nots’ has become far too wide. As a result, America has begun to fall apart. If you are not ‘successful and wealthy’ you are nobody and it is your fault. As a result America is decomposing. In China everyone has a job of some kind and people work to the betterment of the country and therefore are racing ahead of America, especially now that Trumpism has taken hold., which cares only for the rich and powerful. Governments have always put too much money into the war machine and too little into needs of the people. The day of reckoning could be very close. Vote wisely America.
wishing the audio will be up a little, barely hear
Very good video
2045 China has definitely grown past America if they can continue. 2035 if it goes favourable for China or unfavourable for America.
We have to wait until than for a big big change of power, in the meantime Europe can step in if America detoriates too much.
Even though there are a pandemic and the lack of leadership nationally in the US has made recovery difficult, the US dollar has not decreased in value. It will not be devalued unless for political reasons China, Russia, Iran, and other countries decide to circumvent the use of The Dollar to avoid US sanctions. US hegemony will continue for many years and there is no indication that its power will diminish any time soon. The increasing problem is that China must protect its interest in its own backyard and The US has determined that China will become the leading world economy. The reality is that both India and China are so large that in trade they will both have a greater GDP than The US. That does not mean that The Dollar is having problems!!
All countries have unique resources and it's a race to the bottom. The U.S.A. has things going for it that other countries will never have, they will bottom last.
someone told me the us dollar would deflate 50% to euro in the coming years....
cant compare japan and china. china is very much bigger and not dependent on US for defense. the most difficult adjustment americans will face is living within their means.
Well we Pay a Lot of Tax in America to go towards Paying our debt , for Now I would not want to Live in any other Country full time . We have a Strong Dollar .
NOT MUCH, THAT'S FOR SURE.
I don't want China to become all powerful but at the same time I want the USA to humble down and not interfere with others. I want two benign powers keeping in check of each other.
What it's gonna be? Can they remain gentle? Is there a need for a third power?
iwish icould see myself doing better
the problem of all currencies is that they are national/ a new global reserve currency is unavoidable / to make all nations on equal terms/ a king transaction currency can keep all nations at peace "since wars exist on money" arms and the industrial military complex/ evolution on the economical realm have to accept a new king currency to be able to subsist/ the new global currency can restrain wars & exploitations, have master & slave distinguishes by values not a national currency / central individual banks remain however look over the global reserve currency/ as a name I recommend the BREN is as well a mythological name & merges with the numerous brand names of BANKS & organizations.🤗
Good use of a verbose rant to say nothing. Consistent with most rants.
The USA is vindictive and mean spirited, since loosing face at the Bay of Pigs and Afghanistan the citizens of these two countries have been and will continue to suffer.
How much longer will the $$$ last ? Not much longer at the rate they are being printed up watering down its face value !!!
The dollar will decline unless we embrace values of love, compassion, kindness, respect, tolerance, forgiveness, cooperation, solidarity, health, safety, justice,equity, empathy, courage, confidence, transparency, truth, naturalness & humanness.
Countries should be financially indepdent instead of depending on a country financially.
read " Global Fracture: The New International Economic order " by michael hudson too
Yes, it is a "must have " book in order to understand the current US based international monetary system.
It's the Chinese, the Chinese are rocking the boat, continually. Someone of the gods is playing with them.
If they had peace with their neighbors, particularly India, Russia and Japan, they would have a good chance at an alternative.
Sista Joseph
Russia?? Sis, you need to read more geopolitics stuff before commenting here to avoid embarrassment. Russia and China are in together.
just print a couple trillion more dollars no problems here. oh, and dont forget to send me one of them stimmy checks thnx
trade now!!!
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Normally, empty vessels make noises but not for long and so the USd
Hard to imagine an Indian not worshipping and or arguing for western powers.
God Bless America.
where chinese and americans are the people of their states/country ..shouldn't it be china vs USA instead of chinese vs USA?
trade now!!!
+1. 4. 8. 4. 2. 0. 0. 5. 3. 9. 4
The US Dollar is FIAT CURRENCY
The cost of the US dollar is just a little higher than that of toilet paper.
It is Arabian gulf not Persian so do not distort the geography and history
the end of planet ponzi? my magic 8 ball tells me to buy a lottery ticket. bit coin?
As all world wealth KPIs such GDP nominal or GDP per capita are counted in the USD as well as all the debts hence the cheaper the USD the wealthier the world will be.
For example
1. GDP per capita
In Iraq before Saddam was hung 1 dinar = USD 3.2. Meaning if Iraq GDP is 11K dinar, in Saddam era it was USD 35.2K. But after Saddam was hung 1 USD = 1100 dinar. It means Iraqi GDP per capita will only be 11K/1100 = USD 10. Where is the remaining of USD 35,190?
2. Debt
Let say Iraq has foreign debt of USD 1 million. In Saddam era it was only 300K dinar. But after Saddam was hung it went to 1,1 billion dinar. What a spam!
Fore ever, until the end.
Professor Wolf is the best.
If you like Marxists who want to destroy the world.
Prof. Parmar makes a much more pragmatic analysis of the two guests, even considering the few good points Prof. Wolff brings up. The moderator is awful tho
Secure your future with a decent invest because you never can tell what can happen in the economy so that what ever happens you are sure your income is safe
You are right
Good investment brigthens the future
I think the best change you have now it to invest your resources in something
tangible that brings gain
I think Bitcoin investment is really paying, you can put your money in it and be sure you took the right step .
Bitcoin is the only true democracy ever exist i advice people to invest in now
@@kilianjohnson6260 thanks sir for introducing me to your stock broker
She have been of great help to me and my family
We humans always seek domination,there is god and there is dollars until we can find replacement for god then the dollar will be gone!
Without stability the economy decline. Slow death. Self denial, desperate.
“You’re history AmeriKKKa. Here comes the 🇨🇳 Silk Road (2050) and the PetroYaun!!!”
Donald Trump has a dollar strategy? I really don't think so.
I do not trust TRT or like them much. In the past there was too much western style propaganda BS on TRT. But I will say that this video was actually well balanced. Intellegent and without conservative or neo liberal assholes, brought on to give the neutral BS lip service. I really get tired of listening to self promoting stupidity and malice.
Its called HATE。I dont know why people dont see it clearly that they are being manipulated to hate people or wanting to kill them。thats the kind of mindset they are building from watching those prominent news channels。
👍👍👍👍👍
trade now!!!
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Aged like a Slurpee...
Yuan is pronounced "ywehn" not "yuahhn".
SELL USD
BUY XRP
That is very sound advice.
Not long.
658 days more...
This guy does a shitty job at explaining the importance of a dollar being the global reserve status. In short, the credit card is taken away from the spoiled child. With that said, the price of everything shoots through the roof! Food, military presence, etc. China and Russia become the US, and the US becomes the India of old. This is how easy it is to solve the issue, put a cap on what the corporations and the CEOs make and spread the difference to it's workers. Just as it didn't happen in Rome, it won't happen in the US. GREEEDDD!!!!
Dollar 🇺🇲🇺🇲🇺🇲🇺🇲🦅🦅🗽🗽