4.6 • 1.9K Ratings
🗓️ 10 April 2023
⏱️ 52 minutes
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Most people haven’t realized it yet, but the dollar has lost its status as the world's reserve currency. It will take some time for the effects to take hold but it will mean the end of a financial era.
Most of the alt voices talking about monetary policy are focused on dollar destruction. They speak as if they know what will happen and offer step-by-step details of the future.
The problem is, no one can know the future. If someone tells you they do, they are either naive or lying to you.
Today I want to share a little history of our monetary system and provide you with some potential outcomes.
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0:37.3 | people. So if you get value out of today, I'd love it if you'd share with somebody two or |
0:41.0 | three people because we're going to be talking about something that I have talked about |
0:46.1 | this over the years. And what we're seeing now is a is a really rapid transition. And |
0:53.8 | if you've followed the show for several years, one of the things that I've told you is |
0:57.1 | that I believe that we are at the very beginning of a great cultural and economic transition. |
1:04.8 | One that will fundamentally change the way we live and work together. And part of that |
1:10.3 | is automation. Part of it is AI. Part of it is increases in communication and the delays |
1:18.4 | between borders. And some of it has to do with other things like economic world economic |
1:23.5 | policy. And so today, I want to talk a little bit about the destruction of the dollar. |
1:28.7 | And in the title I wrote, the dollar has lost its reserve currency status. And I know |
1:32.7 | some of you are probably thinking, why when did that happen? I must have missed it. And |
1:36.7 | some of you are thinking, no, it hasn't. Yes, it has. The dollar is no longer the reserve |
1:41.9 | currency. Now, it still is dominant. The question is only for how long and more importantly, |
1:48.0 | what does all this have to do with you and your business? Because ultimately, that's |
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