The Threats to US Dollar Hegemony | Daniel McDowell

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 30 March 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 305 of Hidden Forces, Demetri Kofinas speaks with Daniel McDowell, the author of “Bucking the Buck,” a timely new book that seeks to establish a clear relationship between the heightened use of financial sanctions and the rise of “anti-dollar” policies designed to reduce an economy’s reliance on the US currency.

Demetri and Daniel spend the first hour of their conversation examining the sources of Dollar hegemony, how the system works, and what allows the United States government to exercise power over it and over the individuals, companies, and economies that comprise it. The second hour begins with a conversation about the role of gold in the international system, its expanded use as a bulwark against US sanctions, and why more central banks are seeking to accumulate the metal as a form of geopolitical insurance against the long arm of American economic power. They also discuss alternatives to the US dollar, what it would take to begin to displace it, and what effect widespread de-dollarization would have on the material wealth and security of the United States, its allies, and partners.

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If you want to join in on the conversation and become a member of the Hidden Forces genius community, which includes Q&A calls with guests, access to special research and analysis, in-person events, and dinners, you can also do that on our subscriber page. If you still have questions, feel free to email [email protected], and Demetri or someone else from our team will get right back to you.

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Episode Recorded on 03/27/2023

Transcript

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0:00.0	What's up everybody? My name is Demetra Cafinas and you're listening to Hidden Forces,
0:06.0	a podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus
0:13.0	narratives and to learn how to think critically about the systems of power shaping our world.
0:19.0	My guest in today's episode is Daniel McDowell, the author of a timely new book that seeks
0:24.4	to establish a clear relationship between the heightened use of US financial sanctions
0:29.4	and the rise of anti-dollar policies designed to reduce an economy's reliance on the US currency.
0:35.4	We spend the first hour of our conversation today examining the sources of dollar hegemony,
0:40.4	how the system works and what allows the United States government to exercise power over it
0:46.4	and by default over the individuals, companies and economies that comprise it.
0:51.4	The second hour begins with a conversation about the role of gold in the international system.
0:56.4	It's expanded use as a bulwark against US sanctions and why more central banks are seeking to accumulate
1:02.4	the metal as a form of geopolitical insurance against the long arm of American economic power.
1:08.4	We also discuss alternatives to the US dollar.
1:11.4	What it would take to begin to displace it over what time frame and what effect widespread
1:16.4	de-dollarization would have on the material wealth and security of the United States, its allies and partners.
1:23.4	If you want access to that part of the conversation and you're not already subscribed to Hidden Forces,
1:28.4	you can join our premium feed and listen to the second half of today's episode by going to hiddenforces.io slash subscribe.
1:36.4	All of our content tiers give you access to our premium feed, which you can listen to on your mobile device
1:42.4	using your favorite podcast app just like you're listening to this episode right now.
1:48.4	If you want to join in on the conversation and become a member of the Hidden Forces Genius Community,
1:54.4	which includes Q&A calls with guests, access to special research and analysis, in-person events and dinners,
2:00.4	you can also do that on our subscriber page.
	...

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