Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

The truth is that everybody wants to be financially independent and live a better life. With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.

BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.

Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.

Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?

The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio

People are missing the point. It's not about having an alternative, it's about not using the USD. Countries around the world are realizing that they can trade with each other using their own currency rather than the USD.

How can u call America a transparent government? That is entirely untrue

Believe in Western media this is no alternative? Smart people don't see western Media

It's quite interesting and informative, but if you want to be financially free, don't depend on just one source of income, invest for tomorrow's future, and then see how delighted you will be in due time.

China went from having no auto industry to becoming the largest auto manufacturer AND exporter in less than. 10 years, a process took Japan and S korea more than 40 years. The thing about China is things can happen very very fast

The problem with the dollar is the unlimited amount of printing

Dedollarisation is not just accelerated organically but it is an absolute necessity for many countries to remain sovereignty , not just China in my opinion. What we have now is a superpower in decline, USA is going great length to secure its position by weaponisation its everything. First, its ideology. Then its military. Its economic/trades, and finally its dollar. What other countries have done is just the reaction, a derisking measures to safeguard their economies really.

Real problem is denial of the existence of the crisis.

I keep hearing there are "no viable alternatives" but this is essentially a Euro-centric view. A voice from the global south would really help this panel.

The missing link in this debate is The Return of the Gold Standard. The Dollar was initially pegged to the gold standard. The Euro as a Union Currency has never been pegged to the gold standard. The BRICS union Currency seeks to be pegged to the gold standard as well as precious minerals. China does not seek to have the Yuan as a reserve currency.

This needed a commentator from the global South where countries are really seeking to move away from the imperialist dollar system, any alternative is welcomed.

De-dollarising will come faster than expected.

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

Are they real economists? And why the focus is again China? It is not only China dumping Dollar but also Japan, Germany, France, Isreal ... Firstly no major countries except US itself like the Dollar dominance and their dependency on the disastrous US fiscal politics, secondly people are losing their trust in dollars slowly due to many reasons (sanctions, bad economy, bankruptcy, debt limit... ) . This doesn't mean that anyone would use yuan or ruble instead of dollar, but a responsible government will diversify their reserve more to mitigate risks.

Life is a weird, beautiful experience when you step back and look at it. Grateful to be here with you all, Working with a financial expert could truly set you up for life. I'm delighted I was able to contact my coach Rodger Michael Karl earlier this year because while others were busy whining about the downturn I was busy cashing out from my portfolio, finally making over 370k only for the first quarter. of the year.

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?

Some expert Americans still try to find an errors in De- Dollarization to stay positive...while De-dollarization already happening....however is great to stay positive...I thank you...

The reasons that there is no alternative is deceiptive

This panel of "economists" only talked around in circles. I didn't learn a thing, but thank you for whatever you were trying to discuss.

President Gaddafi had the idea of gold-backed currency called the Dinar where Arab and African countries would use. Ironically, he was killed. The same concept is now practiced by powerful countries and its going to change dynamics. Gold-backed currencies are bound to success unlike Fiat. With the inflation and interest rate hikes in USA, the dollar is bound to fall soon.

There is no way you can harm so many people , by sanctions, confiscating their assets ,exclusion from international trade, generally destroying their economies and exporting inflation and expect things to remain the same. Humans have a capacity to find solutions to pressing problems, and the Dollar has become a pressing problem for most of the world in one way or the other. Sooner rather than later the dollar has to give way to a bunch of currencies , gold or a combination of these things.

The bald gentleman has a lot of confidence in the dollar. 10 years later let us see what is the state of play.

I still find this discussion grossly underestimate the power of the intrinsic attribute value of money. What sense will it make if your country is being sanctioned to smouldering just because you want to use a certain currency? People also have their national pride and would deviate from a dollar being weaponised unfairly against their own countries.

You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.

America prints money carelessly 😂😂 we all have to be clueless to keep accepting that paper.

It all started in petro dollar and ends with petrodollar, got it?

China / ASEAN nations can create their own bloc currencies with gold/silver, resources. The idea that everyone will go to the USD for safe haven is delusional.

We don't replace the USD with the RMB. We replace the USD with other peer-to-peer currencies in international trade. It can be the RMB, the Indian rupee and any other currency. Dedollarization has nothing to do with the Chinese monetary and forex policy.

The thing is countries will have alternatives to the dollar. This means that the dollar value will go down.

I used to feel overwhelmed when my portfolio would drop a few dollars. Now that I've learned how the market works, I see bear markets as a giant opportunity to build generational wealth for me and my family. In just 5 months my portfolio have accrued gains of over $300k

No wonder asian moving faster than europe since we are already dumped usd and europe just started playing catch up .

Mr. Ralph is trying to convey the (true) idea that ordinary people always prefer the dollar, which is a "strong currency" or rather, "it seems" since it is current that in reality the dollar is not worth the paper where it is printed! To forget that the heads of the governments of Brazil, India, South Africa and mainly Saudi Arabia, (Petrodollars) are not ordinary people, and have the power to decide in which currencies the big businesses that these world powers are made, and some time ago they decided to make them in currencies other than dollars. And he also argues that the idea of ​​de-dollarization is old, and is already 30 years old. That is also true, but he`s forgetting that at that time neither Russia, nor China, nor Brazil, nor South Africa, nor Saudi Arabia, nor India, were replacing the dollar as an international reserve currency, as they are doing now. And he says that nobody trusts Russia, but unlike the dollar, the ruble is backed by gold. The dollar has no real support. And it will no longer have a chance to have any support, hence the inevitable debacle.And this makes me think that in reality the destruction of the dollar and the (real) bankruptcy of the US is closer than I thought!

Ralph is strong rep of people who are living in oblivion or stuck their head in the sand. Dollar is worthless paper against a gold based international currency. Till that time buy gold and keep gold.

How does Europe view becoming poorer??

Why must the west worry about country not using US dollars in their trade. Why must country pay using US dollars, when you can trade your prefer currentcy.

The more I hear this, the more I realise how wrong and how badly they get it wrong about bricks about China investment it’s laughable

As a comment said the Brics currency will be pegged to the gold standard and therefore it will be a secure currency,because the dollar is run on a fiat basis, you cannot keep printing money that is backed by air.

As a south african i can see how the west got into this situation... Americas arrogance pluse Europes ignorance lead you in this situation

There is no need to look for a direct replacement of the USD. Even if the USD no longer exist, world trade will still have to carry on.

I am afraid those two on video link had no clue why developing countries wanted to shift away from US dollar. Particularly the guy seems to be living under a stone and had no idea about China, yet he kept making baseless assumptions.

"Joining me is the director of Euro Intelligence.... " then, Euro Intel Director ," I've been predicting for the past 25 years and i was absolutely wrong" ...... how cool, still has the effin job.

SK : USD can be use as toilet paper . 🤣

Three years ago, nobody could have foreseen the current state of the U.S. dollar. The U.S. continues to repeat the same mistakes that have led to the dollar's current situation. As a result, there's no guarantee that the dollar's future will be as bright as it's hoped to be.

Relying on US treasuries for reserves has proven to be very risky, as demonstrated by the recent failure of banks.

At the moment, the Chinese RMB is not a free trading currency, and RMB based derivatives are very limited. So there is no chance that it will replace the USD even if China is to become the largest trading nation in the world. However, it will be a different story when the US and China decouples completely. By then, the rest of the world will have no option but to rebalance their foreign currency reserves. Simply put, de-dollarization doesn't have to mean replacing the USD with another curreny. It just means don't put all your eggs in one basket which is widely considered sound financial management.

Saudi Arabia and Iran have made a peace agreement, Saudi Arabia signed an agreement with China for 30 years to sell oil for yuan, all these will lower the value of the dollar.

Russian economists have given westerners a masterclass on economics. Check mate on their own game capital theory

How can a country that seize assets from even oligarchs be transparent

No one rule the world implicitly or Explicitly...

They are forgetting one thing. Oh, nope they just said it. Gold. Central Banks are increasing their gold holdings. I hold lots of gold. It's the best inflationary hedge. Why is the only choice another fiat currency?

In my view dedolarization is a long term process.Since euro has been launched most of European countries has been beginning to reduce the use of US dollar.The BRIC country has been started in early 2000 and now has started to emerge as one of the biggest Economic power.If all government trades between the country can use BRICS currency instead of dollar then some proportion of US dollar Will be reduced.Last for other emerging countries which has trade China they can start using their own currency and Yuan.

EU should take advantage of de dollarization to make Euro even more relevant in International trade.

A major problems with the discussion on de-dollarization is that on one side, it's doom and gloom and the world economy will crash in 6 months and on the other side, well the world economy hasn't crashed so nothing will happen for 20 years and that's so far away it might never happen. What would be better is to discuss the smaller but nearer term consequence of the current dedollarizatoin activities. Trade between Russia and China is ~200B/yr, between Brazil and China 150B/yr. Bigger is Asean and China 800B/yr. Say in 6 months all this is done without the dollar. This reduces the amount of dollar reserves these countries need to hold and it will reduce the demand for US treasuries. How much will this drive up the interest rate the US has to pay?

This is a very biased discussion... Waste of my valuable time!!

Europe bet on the losing horse 🐎 🤪 🤣

Dedollarization "specificly" has nothing to do and direct coorelation with recent tension of China's and Russia's geopolitical policies or even with the BRICS. They just have the better than other countries on the military force and know how to really start and wage dedollarization. US Dollar obviously had been used ideologicaly, financially and geo-economicaly to betray and weaken the dollarized countries around the world for at least in last 2-3 decades, and many dollarized countries knew it long time befor the brics establishment. But they just didn't found easy ways and power to wage dedollarization as lately us dollar has also been weaponized. The natural resources rich-Dedollarizing countries in order to rise their wealth, prosperity for their ppl and strenght - they don't want anymore for being dictated, kept as 2nd-3rd world country or being poored, and imperialized by the US and its collective west allies. They're also highly determined in trying to limitating and re-eavluating their ties with the IMF. In more peacefull perspective and simple analogy, dedollarization shouldn't be recognized as a threatening effort to any countries as we knew and been teached about conversion formula in studying math. Only greedy imperialistic facist and deepenroot-ideological gangsters who see dedollarization as a serious threat and existential. These kind of thoughts soppose to be wiped out at all cost.

Euro failed to compete with USD for an obvious reason. They are like BING, a second best search engine that lovely to have but rarely a necessary

The PRC needs to switch from an export-led economy to a consumption-led economy.

It's happening in your face but you still don't believe it

DE dollartion is good for Asia

Barter trade is good enough. It is win-win agreement, a whisper into the aer, a nod of the head and a handshake.

The most secure asset is gold given its existence for centuries and that is never going to change so the idea that the dollar is a save haven is laughable but you can ask Venezuela, Russia, Afghanistan, Iraq,Iran,Cuba, Mozambique, Syria etc let's just not waste our time trying to ride a dead horse.

Developing nations strategical shifting from USD to Chinese currency for economic development exchange.chinese economic growth is for developing nations.

If you see Indian position, it's clear that they want to start off with a settlement mechanism which can work with local currencies. If that works, they don't need a new currency and even if there is a new currency, it will be just one of many. They are focusing on the infrastructure and not shortsighted to replace one hegemonic system with another. India has been pushing networks where no one entity can dominate it. Its the same model in its internal systems and same model being expoted

Its not about an alternative, countries in the global south simply want to use their currencies to level the playing field. It's about a system where there is simple convertibility between currencies, especially in the global south. If there is a situation where one there is a severe trade imbalance between two countries then the side with the trade surplus an either request to be paid in gold, some commodity like oil or possibly in the currency of country which it buys more from. This fragmentation will result in higher inefficiency of the global financial system but The US and EU will have themselves to blame. This is what happens when you couple hypocrisy with the weaponization of economics and finance, politics takes over and the world as a whole world suffers.

Gold. Pay me your weight in gold. Paper is cheap. The money became useless....

Dollar is a cheap toilet paper, good for wiping your backside. People ain't playing that game anymore

Dedollarisation accelerates

Of course there are and will be alternative. People are forgetting the fundamentals: trade requires Good and Services first, if you have that people figure out what tool to use as currency. A gold-pegged system has worked and can still work perfectly. Besides if many countries bilaterally decide to use local currencies, the job is done

If a nation don't respect their own currency they are not stand behind their words and commitments, they will be taken less seriously even by their peers ☝️

Think the point is, it’s not about where people are storing their assets cause currency isn’t bricks and mortar regardless. I would say the shift away is in transactions and that eventually will lessen dollar profitability.

Wolfgang is the only one that understands what’s happening right now

7:56 I am a foreign businessman in Russia,my anwer is yes its been pleasant and yes the ruble is not as strong as the Dollar but it isn't as weak as it was before the country started it's move away from the Dollar

Once the BRICS + gets their own payment currency in place, the need for reserve currency will significantly decrease. And once CBDC gets going, zero, zero need for a reserve currency.

It is most disingenuous to pick a panel whose dependency to the status quo of a financial system with the USD as the default global fiat currency. Why not get a panel of more unbiased personalities?

I am not an economist. But I know that the basic strength of a currency is the value of the intrinsic wealth held as collateral, and the honour of the organisation administering it. Fort Knox does not hold the largest gold holding in the world and recently the USA has politically manipulated the currency for political gain. How can the dollar survive internationally?

Over 18 minutes into the show, we still haven't got to the subject of how Europe reacts...we only have speculation from some experts about whether the dollar is here to stay. Nothing on Europe's reaction

The USA took advantage of a system put in place to assist "ALL" countries of the WORLD They enticed Poorer nations to take loans from the IMF and the world Bank both owned by the USA then basically Took control of the Governments forcing them to enact Austerity Programs that hindered and in most cases devastated these needy nations.

It can be done, its just a slow motion effect from the greenback. Very slow as these guests imply.🤷‍♀️🤷‍♂️

Dedollarization, sooner the better. The world is sick of parasite dollar printing. Slowly but shurely it will happend.

USA has had a massive trade deficit since the 70s. It cannot go forever like this

It’s about time countries start using alternate currencies

I see it very close times The dollar is air nothing

Europe should be focused on building the United States of Europe: their own Regional Giants in Strategic Industries, their own Defense power, their own place in the world which should be anyway be in the area of LibDem Democracies (which implies a special relationship with USA). All the rest will be a consequence

In europe we have our money

@17:05. You've got to be joking!!!! People are moving away from the US dollar *PRECISELY BECAUSE* "You never know whether you are going to get your money back" from the US.

The dedollarization is going faster than most of us predicted. In the next two to four years the dollar will lose its dominance by more than 80%. Back in the eighties America used the dollar as a political tool less frequently openly. Today the dollar is more than ever associated with economic sanctions, wars, militarization, coups you name it. Therefore countries are moving away to mitigate the effect of all political motivated actions against them.

It will be very interesting if the yuan is allowed to float freely, and the PRC has no capital controls.

One of the said.. Words from reality is different.. At the same time he says.. No de dollaraizatio. Soon may be 25 yrs... Well 25 years is soon.. Also it can happen.. in 2-3 yrs.. Maybe days... No one knows.. Exactly?????

This video is 3 months old. With the current new geopolitical events going on such as Niger coup, Mali and Burkina Faso. Dedollarisation just went one notch ahead.

Think is Countries around the world will not de- dollarize 100℅ but they will increase the holding of other currency by very huge margin. 20 years from now, China's economic will be the largest economy ever recorded in the world (may be 30-40 trillion). Most countries will hold more China currency followed by India currency by 2043.

People may state dollar is weaponized. However, the counter argument is that Dollar is powered by innovation and American Universities. Its these universities which provide talented individuals which provides the human resources to power the world. Weaponization is only by product. How many countries have provided the kind of innovation for the whole world. America has provided that innovation. Post the delinking of the Gold from the Dollar, America has provided innovation to bridge that gap.