Petrodollar Deal Expires; Why this Could Trigger ‘Collapse of Everything’ - Andy Schectman part1/2
ฝัง
- เผยแพร่เมื่อ 18 มิ.ย. 2024
- Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Andy Schectman, President and Owner of Miles Franklin Precious Metals, who breaks down reports of Saudi Arabia letting the 50-year long Petrodollar agreement with the U.S. expire and what this means for the future of the U.S. dollar as the global reserve currency. Schectman believes that this marks the end of the era of fiat currency, as commodity backed money will return. He also weighs in on the latest geopolitical developments, including the latest sanctions against China and Russia, continued weaponization of the U.S. dollar, the accelerating de-dollarization trend, BRICS Plus Foreign Ministers meeting, G7 meeting, BRICS new currency, and more. Schectman points out how gold fits into the picture, laying out what a new world monetary order - or the Bretton Woods 3 - could look like.
Stay tuned for Part 2 of this interview where he discusses the role of Bitcoin and the impact of a Trump presidential victory.
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Link to Andy Schectman’s first appearance on Kitco News:
Massive U.S. dollar dump? BRICS to launch new currency causing tsunami of inflation - Andy Schectman → • Massive U.S. dollar du...
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#petrodollar #gold #oil #dollar #BRICS
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Massive increase in printing US Dollars...creating a less desirable currency backed by NOTHING....
Backed by Gold and Commodities
Backed by Proof of War. War gets harder to do when you're giving away all your stuff, including the money to make more of it.
US currency is backed by US hegemony. Numerous countries have tried to create a competing world currency, but it hasn’t replace the USD. Currently there isn’t anything that can replace USDis world trade or to issue debt. Over 70% of world debt is denominated in USD. Same for world trade. More than 70% of world trade is in USD. Yuan doesn’t buy anything outside of China. Ruble is practically worthless. Euro, Yen are better trade currencies. Even Sterling is preferred over Ruble, Yuan.
It will change.
@@marcovaldovinos4754In 2022 China & Saudi Arabia did the 1st Oil deal 50% the Yuan 50% USD. In 2023 the next Oil Deal was done 100% the YUAN🤨. it was Over for the USD then and FROM Now On. The Yuan & the Ruble are NOT based all on Debt. USD is backed by NOTHING, Period. Might as well be Toilet Tissue 😒. Get Prepared the FALLOUT gonna be EPIC😑
The U.S can also stop funding wars and start actually investing in its infrastructure and also purchasing gold/silver
😂
Oligarchs and Western Hegemony interests come before any citizen in the west!
If the US didn't have so greedy cynical globalist elites as leadership,
yes they could have done it.
But they are obsessed about having control over everything outside their own country, they are obsessed about having control over the world.
They don't care about their own country and citizens, globalist elites are only obsessed about having control over the world.
It's not enough to have control over one country,
that's why we all witnesses how self-destructive decisions that they have chosen to do 😢
They will never admit that they have done a terrible choice, they will keep on using Americans taxpayers money on war's.
This time I think it's going to be really self-destructive, US would not get away with it this time.
Globalist elite's will keep on pushing until they will get attacked, because globalist elites are getting so desperate that they choose to escelate this to WW3.
lol u joking, common sense is not part of gov thinking
USA is interested in only one thing, nourishing zoinist state, with the tax of Americans.
Good. We are all fed up with this American empire.
The age of empires is over.
@@somedumbozzie1539 hopefully.
U say that now but wait for it
Empires morph into other Empires. The entire world is one giant PROTECTION RACKET run by PSYCHOPATHS!
Once the dollar is abandoned. People need to realize that the corporations will also leave. There will be absolutely no benefit to keep your company in America
Tech companies are building new bases in other countries too
We won't have to worry about World Government or Trade because without the Juice fiefdom of DC, all of it will collapse.
The corporations are multinational and have other currencies as well.
All the smart people have left USA or are in the process of leaving. This means that only idiots remain!
I was born in 1946, and I have seen the schools, law enforcement, politicians, government, news media, TV programs, movies, banks, currency, and other things go to hell.
and there was chicken in the pot. we had the advantage
@johnwilkes01 I find it amazing that we had little or no money, and we still served.
That's the outcome of integration and diversity.... now we have no American identity....
@@Aikynbreusovbingo.. America is a joke now
I was born in ‘64. There are lots of things I’m not happy about regarding aging but I wouldn’t trade places with young ppl for anything. I’m thankful I won’t be here in 10-25 yrs…
USA is like a casino 🎰 with no customers . No one wants it chips .
Hmm not really, just go failed Africa states and they trade on or want USD only!!
The tribe runs the casino
Nice quote
@@Ofelas1 ✡️👿✡️
And whose chips do they want now.... China? India? Brazil?
Andy's honesty, mentioning Mike Adam's & Sarah Westfall is the most you will ever find. He truly loves humanity & their future. WAKE UP PEOPLE HE IS 100% RIGHT
Kudos to Andy for pointing out the moral and spiritual decay of the USA and connecting this decay to the economic decline of the US and loss of reserve currency status.
The 300bn Russian Asset was a calculated trojan horse, the west literally fell into a trap and the 300bn was setup as a catalyst in dedollarization
Your brilliant. I see it .
No way Russia would gamble $300B to have the west fall into a possible trap. They would much prefer to have that cash now to fund their war effort.
Putin is Ex-KGB the $300 bln resting inside the Swift System was always at risk of seizure/restrictions. So if it was a Trojan Horse it has gone off like a Financial Landmine 😮. The countries implementing this Freeze of assets potentially stand to lose far more😮
Maybe there all in on it?
Nothing would surprise me! They sure don't plan to pay it back!
Not a Trojan horse. They are all in on it playing their part, collaborating to bring down this sustem
How does a country in debt give money away to Ukraine and Israel?😂
United States of Israel!
It’s simple. Just turn on the money printers!
They issue more debt.
It's 'Simple' when the 'Average American Tax Paying Citizen' is TOO IGNORANT to understand that WE ARE THE ONES who are PAYING THE PRINCIPLE AND INTREST on all our Wasteful 'Borrowing to Spend' money that we NEVER HAD TO BEGIN WITH. 🤣💰👏🏻👏🏻👏🏻
Irresponsibility!
Blows my mind that there are people here commenting there was no such thing as the petrodollar. Even worse today I also heard someone say this is a good thing for green energy initiatives. Because "now we just need metals for electronics" as if plastic is not a petroleum product, and also we can just magically send that metal around the world without fuel.😢
US, UK and EU thought that they were something special...
Do not leave out macron France.
If the dollar collapsed along with the stock market, real estate, bonds market, banking industry, and insurance companies, I feel that I would celebrate. Which one of those things is not a scam at its core?
At least real estate provides a place to live..yes it's taxed..but that not inherently..it's fault
It would be sad for all the regular people hurt, but you’re correct about them all being a scam at the core
Same with ya Vehicles. Since WHO made these RULES it Only BENEFITS Others, NOT the Payer😒. SCAMS😡
Sadly, those who benefit from these aforementioned scams will find a way to benefit from their collapse, while people like you and I will be left with nothing. That’s the way it always goes.
Count me in mate!
This guy is 100% talking the truth. Hope the politicians are listening.
The politicians have no responsibility for anything. They will just take the/our money and run. Why is this okay??
Oh, they’re listening. When they’re the perpetrators of this travesty, they don’t give a flip.
The politicians have been bought, bribed, and payed for to usher in the Great Reset. You'll get no help from them. There is no more rule of law.
They listened. They have been buying gold and silver. And most didn’t get the arm candy so they will be living a life of luxury as everyone else will perish.
@@VaporIsAllWeAre🎯
We don’t have freedom of speech in the west
So democracy is not working at all
Yes, we do….but the power holders don’t care…we are barking (animals-dogs) to their ears😂, when they feel it’s too noisy then…
No one is listening anyway so there is no shortage of Free dumb.
CIT bank is FDIC insured and is 5.05% for their savings account as long as your balance is $5k or more. I was using Ally up until I found out about CIT earlier in the year. They also have ATM fee reimbursement, just like Ally, for their checking account.
I'm glad to have stumbled on this video as it is an eye opener and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
Sincerely it's best to seek an advisor right now, unless you're canny yourself. As an eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
I have not written this sort of comment before but from the your comment, I knew that you have good understanding of investing, How can one reach this advisor of yours?
My advisor is a lady and goes by the name Melissa Jean Talingdan I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
The popular lady Melissa Jean Talingdan comes to mind. You'd find her basic info. on the web to set up appointment as she offers free consultations.
Andy is speaking raw truth👏
Funny... he was doing the same thing 15 years ago. I love this guy.
"...you can only pee in the punch bowl so many times before people stop drinking the punch..."
How the West was lost.
and how do you know this 😂?
@@thousandaireradio3199🤢🤮🤢
"How the Fed stole all the wealth of the west."
😆😂🤣Exactly right!!! Great Comment!
@@thousandaireradio3199 Watch the whole clip to the end.
This is just Saudi Arabia giving customers (nations) an alternative method of paying for their oil if they don't want to use USD. Customers CAN still use USD if they want to. But the mBridge system just gives the option of using a payment system bypassing the USD. Alternative payment systems like this will probably become more common & more utilised over time, due to the continuing "weaponisation" of the USD, sanctions & other economic warfare waged on other nations by the US & the Collective West. But I don't think anyone wants a "collapse" of the US or the EU. This would be very bad for the whole world, & of course other Great Powers like China know this. I think evreryone hopes the US will change its approach to other countries to a more diplomatic, peaceful, cooperative one rather than trying to "contain" other economies & pursuing a policy based on economic & military warfare.
yeah tend to agree
You are naive.
Great
Stock up on canned food, solar panels and water filter systems, NOW !!!
All food has expired dates, so better not to over stocks,?. Give others chance to by some also.....
Andy has been on fire lately, does he ever stop working lol, i love Andy, thanks for your knowledge.
he loves his country and doing the best that he can
hard working
IRight on Andy, we are losing freedom of speech, our basics freedoms in the US and Canada -- wake up folks!
A dying empire flailing desperately in all directions.
@@katong1953 he supports China but says US is losing freedoms. the guy is delusional
@@spenser6353well suited for your self consumption
The ones running the country have failed at their jobs and it's up to the people to fix it
End of the petrodollar is bunk.
He's brilliant. Thankyou I thoroughly enjoyed .
I listen to all Andy Schectman interviews. Authentic, super knowledgeable and shows integrity by speaking truth. Thank you Michelle and kitco for bringing him on!
Andy, followed you for years, this is one of the best, direct to the point, No BS, Thank You Michelle/Andy
This financial collaborative conversation was prolific, thorough, concise, informative, efficient, humane, compassionate, integral and overall SPOT ON!! Great job to both Andy & Michelle. A great combination!!
If you want to know how important the gold is just asked British Empire in those days before WW1 where they invaded many countries, they robbed the wealth the gold and jewelry and brought back to Britian. They have accumulated so much of wealth that until now the British monarchy is the riches in the world of stolen wealth.
As a person who lived there that vampire Royal family is the problem. Please do not blame 99.9% of poor people from that brainwashing camp.
A huge Japanese Bank has had to cash in $63Billion of Treasuries to avoid bankruptcy!
which should raise U,S bond yield, where citizens will pay for.
They also sold the bonds at a loss , they are postponing bankruptcy not avoiding it. Every time they sell bonds they lose billions because they are upside down.
True. But Japan. Did that deliberately just to get rid of the US Dollars . Because they could be. NEXT. on the sanctions list
The FALLOUT from this is gonna be EPIC 😑
@@DanDang2Someone bought it all. I wonder who...🙄
Michelle, I'm glad you had Andy on for this discussion, ... this will affect all of us.
Don’t understand why it’s always about migration and social costs but never about the endless wars and absurd military spending?
The US imported over 10 million "refugees" in the past couple years and who do you think is supporting these border crossers? Don't you know it's costing nearly a trillion a year to support all the "refugees" in the US which is estimated to be about 50 million people. Don't you wonder why housing is both rare and hyperexpensive? They get first choice in housing. That's why our homelessness is skyrocketing.
Good point. I would add Medicare/Medicaid and millions of parasites "working" for the governments.
Absolutely true. Downward spin in increment of US dollar across the planet.
Just saw an ad on here where Obama is asking for donations for biden’s campaign. I feel like I want to puke.
After ALL The MONEY LAUNDERING in Ukraine , they Still Want GrandMas $$$$$$
....and this "solicitation" is from the man who said: "never understimate Joe's ability to "f" things up?" "Trump 2024..........before it's too late for all of us, PLEASE!"
They both did an amazing job cleaning up after republican failures. Can't knock 'em.
Biden will not be running.
@@StevenSimpson-it5mv the democrats were pro slavery.
Unbelievable show Michelle, you and Andy highlighting everything important about BRICS.
Is there enough Crude oil or Uranium in US? I don't think so😢
We have the appearance of freedom.
Investors are still in denial about the fundamentals of the economy. They expect rares will soon be cut and believe the topline GDP numbers signal a strong economy. However, they dont. Credit card balences are maxed out, more credit is hard to come by for consumers, a ton of companies are about to beforced into refinancing their debs at far higher interest and the regional bank backstop program is out this month. There's also the fact that inflation ticks higher than expected every single time the markets believe a rate cut is around the corner and a rate cut would cause a surge in inflation. The fed sees this stuff, guys. The only wild card for us investors is to actively engage the market by trading, we always over complicate things when we speculate. It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Sandy Barclays, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Sandy Barclays program is widely available online..
If the market has taught me anything, it's that it always recovers, but I can't seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.
Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.
Sandy gave me the autonomy I need to learn at my own pace and ask questions when I need to she’s so accommodating.
Don't bury fiat in jars like they did after the Great depression.
Very different situation. this is a hyperinflationary depression, not a deflationary one...
@@lukeasacher Google US M1
Next is, Us dollar will use as a toilet paper
It is not as good as toilet paper.
Kitco, the anti- gold gold company .
For now, I need that monopoly money, to get ahead in the game...lol sad but true!
@@phillippetschow4766Ain't THAT the Truth 😥. This Fallout gonna be EPIC😳. Get Prepared as best you can. Canned goods, dry goods, Water, Defense(hole punchers) REAL TALK. A Lot of moving parts and NONE OF THEM are Moving for Our(US) good😞
Yes, its unstoppable budget deficit will do just that.
I love listening to Andy. Maybe he could someday talk about the fact that our wealthiest Americans don't pay enough taxes which causes all our problems.
quit drinking the Kool-Aid The Clowns of DC have already spent everything they could possibly steal from all of us including the rich.
No it doesn't. That's who little,envious people always blame.
Trillions for military budget and Medic Aid/MediCare cause all the troubles,together with Unions and all Goverment employees sucking the blood out of American worker.
This guy is right. Is America listening ?
Michelle, the best interview I have viewed in a long time. I have been around for over 7 decades and now see a country that doesn't seem to stand for anything. Without a stable monetary system,. gov't austery, and a society that seems to not have a moral compass any longer, the future looks pretty bleak. Mr. Schectman is so right on about everything, to bad nobody is listening.
Moral compass!!! That is most important. Everything hinges on that.
I now admire this man very much for speaking his mind..He has a spine and stood up to the host for her lack of Awareness on the deplorable system and state of hypocrisy, dysfunctionality and decay that she obliviously fawns over. Thid is in relation to Andy admiring the tired worn out autocratic regime reference.....Bravo Andy! Well said!
I guess you mean 38:57. Yeah, the wokeness and cancel culture and decay in the US are not great. But, are things in the US really bad enough for Andy to say that he "admired" communist dictatorships, a style of government that never had freedom of speech or equal rights, and skipped directly from "cancel" culture to "disappear" culture? Michelle was 100% right in challenging him on this.
She's playing Devils Advocate and letting Andy fly!😊
@Chuck68ify agreed, but she seemed too authentic when she was taken aback by Andy's admiration of the BRICs organization and skill.
simple. she's in denial
@@soothsayer2406 she tried to make it into hollywood and had to settle for podcast interviewing ;) (I AM joking Michelle. I love your work :) )
At 40 minutes - finally someone said it! That’s exactly how I see the west and usa. At last someone said the truth
Andy Schectman is great
Greg mannarino has been yelling about these subjects for over 10 years so I have seen this progression for a long while I also am happy to say I have prepared for the end of the petrodollar
So have I
Mannarino has been saying tomorrow it collapses for years. Idk how I feel about his stuff.
This video has value he is correct I believe next year will be when we see major changes globally
How have you prepared?
@@43178I think he would have ditch the US Dollar, convert to gold, silver and other hard assets! And move out to a more affordable place to stay?
Andy is brilliant. I work in geopolitics and even I learn something new from him every time I hear him speak.
Oh Boy !! You knocked this one out of the park Michelle. Always a pleasure watching you.
Everybody knows the laundry is dirty, so we're just going to trade in soap.
Elaborate please ?
Very nice
@@sev7n102 Barter has been in effect full swing for a few years now in some communities.
@@sev7n102 it's possibly a play on the phrase that Michael Howell and others use: "The US is the cleanest of the dirty shirts in the laundry" (referring to the US's debt situation compared with other countries)
One Cartel owns all central banks, IMF, BIS, FED, World Bank and they also own controlling interest in 88% of the Corporate World....Do They Make The Rules??? I Betcha! All The Rules!!!
Rothschilds?
@@freddyfaster4444 A Cartel who Believes that they are illuminated above all others. They even believe that they are gods who are destine to rule the world.... The big wigs only marry their 1st cousins...
Who are they? Rothchild? Blackrock?
Who?
MY POSTS AS TO WHO ARE ALL REMOVED BY THE TH-cam CENSORS
@@freddyfaster4444 MY POSTS AS TO WHO ARE ALL REMOVED BY THE TH-cam CENSORS
Andy Schectman is a visionary PATRIOT.Telling the truth is never easy,but the truth needs to be told to enlighten the average man and woman.We must stand together and vote MAGA 202.Our country is in the balance we must stand for the United States first and foremost close the borders,deport illegal aliens, pay down debt and support our veterans.God bless America.
Who knows…. Maybe you’re right. The Maga candidate is the expert on bankruptcy.
Right now there is a Special Window that is closing FAST where you can trade nothing, for something, and make out like a Bandit.
A recent interview with Alisdair Macleod pointed out the wording..”China is buying gold” is really China is selling its US debt/dollars….and if dollars are no longer safe the only other globally accepted safe bet is gold. So when you hear China is buying gold think of it more so as China is selling dollars….steadily and now rapidly.
Not just China (everybody is) and not just dollar (euro too).
All those problems are even bigger here in the EU,nobody's buying EU debt and we are in bigger problems than US (wars,immigration,energy prices,food prices,political turmoil).
the fall in US dominance is khamas's fault 🤣🤣🤣
Lmfao nice. Khamas has the right to defend itself!
I think he meant ,,"KAMALA" lol
In 1971, UK ambassador brought US 300 million to the Treasurey Department and asked for the Gold, Nixon had no choice but to close the Gold window 😅
Nixon should've honored the transaction. We were piling up debts, living large, funding the war in Vietnam, wars are costly, we shouldn't have spent so much on that war. Now we're doing that in Ukraine as we did in Iraq and Afghanistan. All pointless wars that didn't gain the US a thing. The only one who benefitted from it was the military industrial complex.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elizabeth Wesley.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
Elizabeth Wesley strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
You trade with Elizabeth Wesley too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
”The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”
-Macroeconomist Rudiger Dornbusch, referring to Mexico’s crisis of the 1990s
Gradually.... then suddenly, all at once!
Please, tell me that you are not comparing third world country Mexico with the United States, the biggest economy in the history of the world. Your stupidity is astounding! 🤦🏻♂️
We are heading into a decade of transition just like we did during the 1970's when the US took the dollar off the gold standard and into exporting debt hegemony onto the world.
I think it's on a bigger scale than that. How about a 300 year or 2000 year type of event?
Cash is not around businesses suffering people broke
Glad to see Schectman sees the problems with the USA
KITCO is the best! This gent (Andy, l believe) being interviewed is also extremely well informed, intelligent, insightful & informative & l am listening with ALL my attention!
Thanks a million 👍
Great to see this has already had over 100,000 views! Andy knows his stuff and nice to see him get to a massive audience.
The only reason so many countries are accumulating gold and dumping USD is because the global currency reset is coming fast and gold is the default universal standard. Get out of USD now and at least put it into gold and silver before it's too late. Owning some BTC as a hedge isn't a bad idea either.
@dasfahrer8187. Wisdom. So many people feel like they have to choose gold OR btc. One third of a coin would put you in the top 1% if it pans out. That would run you just $22k in June 2024! You would have to be insane not to work toward buying that insurance!
I doubt it very much. Gold takes away power from central banks to issue fiat and government's ability into float debt, including the BRICS+.
I'm beginning to wonder if there will be a very short use of gold to transfer hegemony west to east, followed by fiat, tokenised everything.
No bitcoin will go to near zero, zero possibility it will be used as money on widespread basis. Central governments will always control money
Cash is gone nobody has it
@Coover90210 bitcoin will never be money (CBDC is the future) and has no intrinsic value. Gold has a 5000 year history as a fiat basis or hedge. Bubble vs real money. Period
Good joke Mishelle, freedom of speech in the West. Time for my weekly DEI training session before I lose my job.
Exactly.
Didn't
Earn
It
Petrodollars are a false problem: in 1980, oil accounted for 7% of world GDP, today it's 3.8%. Why is this? Because world GDP has multiplied by...4. To sell crude products is to remain poor, as demonstrated by the fact that Russia sells crude oil at around 0.5 euros per liter (80 euros per 159-liter barrel).
But in Europe, this oil is used to make plastic toys such as Lego or playmobil, which are sold in Russia for over 200 euros a kilo. Let's just say that it takes 5 liters of oil to produce 1 kg of plastic, and the manufacturing process creates wealth 100 times greater than the price of the raw product. That's the secret of Europe's wealth: processing raw materials yields 100 times the price of those raw materials. Another example is cocoa: raw cocoa sells for 4 euros a kilo. Go and look at the price per kilo of kinder eggs: it's 54 euros per kilo, it's written very small and it's basic chocolate. Now that's business! Europeans earn 10 times the price of the raw product thanks to the value added by processing. By making plastic objects or selling chocolate as a finished product, Africa or Russia would earn between 10 and 100 times more...selling raw products means condemning oneself to poverty. Petrodollars have nothing to do with it, they should be used to create factories and research, not to maintain a few families in the luxury of vain billionaires........ ....... ........
@@walterbenjamin9681 Because most of these countries do not have the human capital and resources to compete. It's like asking Brazil to use its raw silicon production to make chips whereby competing directly with Taiwan. That's not going to happen during this millennium.
@@exothermal.sprocketa
The bigger risk is conflict on the Korean peninsula and an invasion of Taiwan.
False.
🎉❤😊Thank you very much, Michelle, for your discussion with Andy.
Andy is amazing because he is realistic about the shifting value of currencies and commodities across the globe. Humans naturally seek stability are sane.
Vanities are weaknesses and suffering through these mistakes are hurting our country.
Americans need to be realistic about our choices in leadership.😊🎉❤
Venezuela 🇻🇪 Bolivar got so worthless decades ago, people were wheel barreling it around and people would dump the Bolivar on the ground so they can steal the wheel barrel..is the USD next?
That is a story from Germany when the mark fell.
@@greggmcgivern1141ALL THE EMPIRES went THROUGH The COLLAPSE of their Currencies. US is BEHIND Schedule 😑
Decades ago? Try 2017-2018. I personally videoed it myself on the border at Cucuta.
Maybe the fed will try the Zimbabwe method of printing more and more, just with more zero's and bigger numbers. Those $100 trillion dollar notes are quite comical.
No doubt about it.
Grandpa Biden's government can print 500 trillion dollars every 180 days, it's always been like this since the 1930s, now every American has a green toilet paper (called a dollar)😂😂😂
"It's always been like this" but somehow is President Bidens fault. For decades. Got it.
Let me educate you, ever since Nixon took us off the gold standard, the dollar turned into toilet paper. It's nothing new, don't blame Biden. Every administration has been slowly destroying the integrity of the dollar.
I'm still using the cheapest white ones 😂😂😂
Bro your math is way off. 500 trillion every 180 days. Please tell me where you pulled this number out off?
You have no money.
Andy Schectman is AWESOME!
Wow! Never heard such a complex subject made so easy to understand. Thanks ❤
We can thank the last 4 presidents, all of congress, their big business PACs and those few families at the top running things we allow to run things. Now we got 2 idiots to to vote for🙄
Hate Trump, not a fan of Biden, but once again he gets my vote, reluctantly.
Vote more like pick your favorite of the juice puppets.
You might want to actually look at the facts about Trump's presidency. Our economy was in great shape, we were heading towards energy independence, the list goes on. Then the pandemic came and Biden got cheated into office. It's all part of the plan
US debt will rise to $50 Trillion by 2034 which is only 10 years from now. I believe they will reach that mark even faster especially if US jumps into a major conflict that it is always itching to. The rest of world is beginning to figure out that this debt will never be repaid. Like someone said . "If I owe the back $100 it is my problem and if I owe the bank $1 million it is the bank's problem".
And it will still be President Bidens fault for some reason ne economist can explain.
Wow - Go Andy… he is straight on and thank you for having him ! Great education and thorough thought on these subjects. Thank you Michelle!!
The solution is a refocusing on our own land. We have great resources. But we got too used to buying everything with a credit card.
One hour and five minutes of pure alpha again. This guy knows his stuff. Gold it is then.
Btc 1000x better than gold
Yeah, why are people so ignorant of bitcoin???
@@rickknight3823 because you stil depend on some sort of system and gold in hand makes you independent. Blackrock buying into btc is not good either, they want to controll it.
Lmao imagine just blindly believing this guy was right about even 50% of the complete bullshit or outright lies spouted in this 30 minute demonstration of ignorance and delusional or purposeful lies.
The entire premise of his argument let alone the reasons in utterly laughable.
@pokerlife1137 go away troll, you clearly didn't listen to the entire video. BRICS is developing it's own CBDC backed by gold. Central governments will always control money
Trump, when in office, agreed to sell F-35 jets to Saudi Arabia and when "Brandon" entered the office, he canceled the deal.
Best video ever. Finally someone who's looking through
Thanks Michelle, Andy always has thought provoking commentary on the financial position of the U.S.
When the dollar turns to nothing, save those dollars for me. I need to re wallpaper my house lol.
recycle it and use it for insulation in your walls and ceiling, It's a fire retardant, and doesn't mold when wet, bugs also won't eat it, as far as I'm aware.
You have none,we know.
we are supposed to be a REPUBLIC... Not a democracy.... quit saying that
The republic died with the war between the states after which our constitution was replaced by a corporate structure under the Vatican-Crown Corporation Act, 1871.
@@theyareherewithus2944 I said " supposed " to be... during the pledge I have never once said " and to the democracy for which it stands "
That always bothers me too. We were founded as a CONSTITUTIONAL REPUBLIC and we need to get back to it ASAP.
@@Mike.L.You're right. Good governance before all else. And if that means we have to temporarily suspend the constitution...
You all not considering a "United Communist of America" 😂
Imagine Intrest rates at 20% in the spring and 50% in the fall
Awesome interview, and the guest speaks loads of sense on topics most can't even bring themselves to look at.
Andy is dead on. His view is perfectly spoken.
This is such a big deal. Yet most Americans (and news outlets) are oblivious. "Assume crash positions!"
and prepare to get rich, he who has gold will get rich, sorry Andy
@@robstrickland166 when societies fall, being rich is of no consequence. This is not an "investment" position in a civilization that has lost its moorings to moral conduct. This is civilizational collapse.
Much love to Michelle and Andy and putting out quality info. 🙏🏼
Thanks for the financial information Michelle and Andy.
Remember the largest gold holdings are owned by the private citizens/ public of China (30 000 tons) and India (27 000 tons)
Not citizen...slave..
Civilian
Good show today Michelle , Thank You for having Andy on , nice backwall Andy !
Spot on interview. Excellent judgment, Andy.
So glad we have these 2 to educate us on background of the impending crisis. I pray they will continue to hold our hands as it is revealed. 😊
I love her grit, very rare in women. ❤
Dollars are not held just to buy oil, some countries hold dollars as savings instead of their own currency because it is perceived to be more stable. So dollars will return to the USA because they are not needed to buy oil and not wanted as savings
Dollar is perceived as stable because there is no alternative, now when BRICS currency backed by gold will come in market, it will be perceived as more stable than dollar and there will be no fear of stealing it like USA is doing with russia. If USA wants, they can go to war but you can't steal others money
Yes. Multiplying inflation exponentially. Decreasing buying power disproportionately. Repatriation will not mean more money in anyone's pockets. The banks will snatch up the money to meet their liquidity requirements. People are going to starve.
Michelle - great interview - Andy is so sharp and interesting
Amazing lecture on the Financiaal Deesintegration of the US-EURO EMPIRE
I saw a video of this guy maybe 2 years ago. He predicted everything happening now.
Michelle, superb show!! Thank you! Blessings
I simply adore you, Michelle. Andy, I adore you too. THANK YOU.
Why nobody talks about how those $50bln of US treasury sold by china were worth 500bln before and china is taking a 90% loss?
The fall of the petrodollar means the treasuries have to be sold as quickly as possible before the US defaults. Remember Yellen saying the US has the right to seize ANYONE'S treasuries? 10% is better than 0%.
Andy is absolutely right!
ANDY SCHECTMAN IS THE BEST DEFINETLY LIKE. LIKE BUTTON 👍👍👍👍
Realistic speaker, I hope the entire world gets to watch this interview and be well informed. Thank you for the excellent presentation.
Cool 😎 Kitco News is with us... Andy's endorsement is the truth... God bless you Guys 🙏 Maori 🚼 Jeebus 😊🖐️
Michelle is very articulate. I like this channel. ❤