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🗓️ 1 April 2024
⏱️ 23 minutes
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0:00.0 | Well, we just got our clearest sign yet that the US dollar is about to lose its reserve |
0:09.8 | currency status, the standing in the world by which all transactions, of course, are carried |
0:15.1 | out in U.S. dollars. |
0:17.1 | Well, we just got an amazing report over the weekend about the U.S. interest that is set to hit 1.6 trillion by the end of the year |
0:26.1 | making it the largest US government outlay. Think about that. The United |
0:30.2 | States government now spends more on the interest payments on the debt than anything |
0:37.4 | else in their budget. |
0:40.2 | More than all of the wars that the United States Government funds around the world, which is over nine right now. |
0:46.7 | We just agreed to send an additional couple thousand pounds of ammunition and bombs to Israel. Of course we are actively funding what's happening in Ukraine, then in Yemen, |
0:58.4 | then in Syria, actively funding what's happening in Haiti. |
1:02.8 | So just think about that for a second. |
1:04.8 | The debt alone is one thing. |
1:08.5 | The interest payments on that debt |
1:11.2 | is where we are set to lose our reserve currency status. |
1:15.2 | Now this according to Zero Hedge which reported over the weekend and I think they were |
1:19.5 | really the first to cover this and I'll even just sort of quote what they're saying. |
1:24.0 | Several days ago we were the first to point out two new striking developments on the |
1:27.5 | Dollar's crusade to lose reserve currency status after hitting one trillion in late 2023 interest expense |
1:36.3 | on the debt rose to a record 1.1 trillion which we covered here on this show in |
1:41.5 | late March and while US debt is now rising at a pace one trillion |
1:45.6 | dollars every three months. How is that sustainable? If your family's future is |
1:52.3 | tied to the US dollar and you're worrying about |
... |
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