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The Survival Podcast

Will the Dollar Lose Global Reserve Status – Epi-3277

The Survival Podcast

The Survival Podcast

Society & Culture, Philosophy

4.61.8K Ratings

🗓️ 27 March 2023

⏱️ 105 minutes

🧾️ Download transcript

Summary

The U.S. dollar is currently the dominant global reserve currency, meaning that it is held by central banks and other financial institutions around the world as a store of value and a medium of exchange. If the dollar were to Continue reading →

Transcript

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0:00.0

There's a better way to do this, let me show you a better way.

0:15.0

And we are live folks, episode 3277 of the Survival Bond Council, it is like Monday morning.

0:24.0

So let's just come out of the gate straight away with Gloom and Doom.

0:28.0

Yeah, New Week.

0:29.0

We're going to talk about the United States potentially eventually anyway, losing the dollar as the global reserve financial instrument.

0:43.0

And what that would mean and what that would look like.

0:46.0

And we're going to talk about how some things are being done right now that look like, you know, maybe the majority of the world's population would benefit from that.

0:54.0

And maybe if they benefit from it, it's more important to them that they benefit than we benefit.

0:59.0

We'll talk about some reasons why it might not happen.

1:01.0

We'll talk about what makes it harder to happen than I think some people think and then more likely to happen than most people think.

1:09.0

I want to talk to you a little bit about exactly why this even matters or what the global reserve currency status is in the beginning.

1:24.0

Then we'll do a little bit of housekeeping and then we'll dig deep into this topic. How about that?

1:29.0

So I like to try to explain this in a way that maybe is a little bit more concrete through analogy to people.

1:37.0

So let's imagine that instead of the US dollar being the reserve currency of the United States, we had a different form of a currency that we used for all of our business in the United States.

1:53.0

Let's say that we had a US dollar that was backed by oranges.

1:59.0

Stay with me here. This will make sense in a second.

2:02.0

Well, who would benefit from that? Who would have a strategic advantage in the economy in the United States?

2:08.0

Well, two states spring to mind heavily and those would be Florida and California.

2:14.0

They would have a massive trade advantage because they can produce oranges. They don't have to acquire them somewhere else.

2:21.0

And then there's some states that would have limited participation at the advantage level because they can produce at least some oranges like Texas, Arizona, a few others that have some areas in the states that can produce citrus.

2:35.0

And so if let's just change that up though, I guess Hawaii too, right?

2:41.0

Let's change that up. Let's imagine that the only state in the United States of America capable of producing an orange was Florida.

...

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