The Coming Great Depression & Dollar Collapse | Tucker Carlson | BRICS

you're leading this country to its

destruction we've already lost control

of the world the American Empire's in

free fall right now and we're going to

lose the US dollar and when that happens

we're going to have real poverty here

like Great Depression level poverty

yikes that doesn't sound good is it true

are we moving closer to D dollarization

well rather than just listening to my

opinion what I'd like to do is pull up

the opinion of T.S Lombard this is an

Institutional research firm and usually

they are the bears in case you're not

super familiar with that and you're

mostly focused on the dedolarization

when I talk about the stock market and I

need something negative I go see what TS

Lombard to say because they usually have

the negative POV and Tucker Carlson is

suggesting that we could be close to

losing the dollars Reserve currency

status in the world as countries like

India China Russia Korea Iran

potentially becomes stronger in

coordination even with Brazil in having

a currency that together could be

stronger than that of the dollar leading

to a Great Depression in America so of

course I wanted to see what the

institutional Bears have to say about D

dollarization and fortunately I have a

piece that is pretty fresh it is from

August 30th now that's yesterday today

is August 31st it's my seven-year-old's

eighth birthday so he's not seven

anymore it's also coupon expiration day

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T.S Lombard says we have the slow moving

D dollarization and they suggest here

that the Dollar's Reserve status is a

privilege that gives the US significant

political and economic Market influence

in other words it's very important and a

shift away from the status could imply a

weaker dollar and therefore higher

interest rates in America which makes

the cost of everything from cars and

houses and credit cards and student

loans more expensive for those

interested in the nerdy reason why I

wrote this little translation basically

the less people buy U.S treasury bonds

across the world which puts less Demand

on the dollar and if there's less demand

for the dollar there's usually less

Demand on the bonds those kind of work

together then you end up with lower

prices for those bonds which equals

higher rates okay so less dollar demand

higher interest rates yes this is true

for this reason D dollarization is an

important long-term Trend but it also

generates a lot of hyperbolic headlines

in the short term the latest wave of

whispers about the demise of the dollar

came during the 15th Summit of bricks in

South Africa Brazil Russia India China

right anyway okay

well the summit failed to make much

progress it highlighted a longer term

trend of whittling away at the Dollar's

dominance and the forces that drive the

shift

see that's especially because Emerging

Markets realize that when the US dollar

appreciates or goes up in value and

strengthens by 10 percent

Emerging Markets smaller economies

suffer by 1.9 that might not sound like

a lot but when you look at most of your

GDP being export driven that is your

economy is based on exports and your

export output drops by 1.9 percent you

could be in a situation where let's say

your GDP is I don't know one percent

because you're close to a recession and

exports make up 50 of your economy and

all of a sudden the exports tank

it is possible you could end up in a

recession because of the dollar

appreciation especially as the dollar

hasn't just moved 10 but it's moved

significantly you look for example at

the Euro and it used to be around a buck

40 to get one Euro that's gone down by

somewhere around 50 percent at Lowe's

40-ish percent now so in other words the

Euro has lost a lot of power so if other

currencies around the world that's

because the dollar has become so strong

in these uncertain times and the point

of this is not to create exact math it's

just simply to say the trend of the

dollar putting pressure on these growing

economies is here and it's strengthening

and that encourages those economies to

get away from the dollar but it's not

just that it's also that when we have

the strong dollar we can wield it as a

weapon consider when Russia invaded

Ukraine the U.S confiscated Russian

assets via the U.S backed Swift banking

system which is like the interbank

messaging system

weaponizing the international monetary

system these are two perfect reasons why

the U.S dollar is not that desirable to

other countries especially you look at a

country like China China is responsible

for one third of global GDP and a

strengthening dollar makes it harder for

China to succeed so all of the countries

that were basically fighting with a

strong dollar are pissed and they're

like bro we don't want this much of a

strong dollar and that's why we've seen

the reserves of dollar Holdings slowly

decline you can see this red line is

roughly a decline line and you can see

we go from about 80 percent to about 60

percent of dollar Reserve Holdings but

that's over 50 years it's been a really

slow slog of getting rid of the dollar

and part of that is this chart here

there's no feasible alternative what

dollar or currency like what other piece

of paper backed by nothing other than

trust in our government which boy that's

a mouthful what other piece of paper is

better

would you rather trust our broken

American government

or the very broken Chinese government or

how about the European Union okay that

is the problem with dedolarization yes

the trend towards dedolarization is here

and yes it will probably be very bad

when the dollar has lost its Reserve

currency status unless something else

has occurred uh and maybe the US has

created some new stable coin currency

that everybody wants to use so they can

track every bit of your expenses with

and the IRS doesn't even ask you to file

a tax return because they already know

it all

uh well until then obviously the dollar

seems to have some strength now if the

dollar disappeared tomorrow that would

be a big problem Tucker Carlson would be

right we'd probably fall into depression

overnight but at least right now it

appears there's no feasible alternative

in fact consider the argument here China

has an unpredictable government and

they've managed their currency in such a

way to try to Peg it to the dollar and

manipulate it but they've even failed at

doing that Japan has failed to

manipulate its currency even though

they're trying and you've got other real

hurdles economic growth at members of

brics is actually plummeting now part of

that is actually because of the strong

dollar but beyond that we have a global

inflationary induce likely recession

either here now or coming very soon it

is possible that the U.S could be the

best of the worst in other words you

think things are here are bad here and

inflation is bad here and grocery store

prices are bad here imagine what it

feels like in India or Russia or Brazil

and that in one argument is why the

dollar might actually still be able to

cling to its strength for a while not

because the policies in America aren't

broken but because at least they're

better

than the policies of everyone else and

there is no Central Bank to rig

everything in these other currencies

whereas we have the fed that's why when

you look at this chart see how the

reserves of US Dollars have gone down

13.3 in this chart look where the money

is gone it's gone equally to the Aussie

dollar the British pound the Canadian

dollar the Chinese Yuan the European

Euro

nobody knows where to put it because

there is no clear winner and Saudi

Arabia the UAE United Arab Emirates big

oil producers guess what they use

in fact they Peg their currency to the

dollar

the Petro dollar is just one part of the

dollar that's basically trading oil and

dollar people like oh we're gonna stop

using the petrodollar whatever maybe in

20 30 years when that's true oil won't

even be needed anymore hopefully I mean

for the time being obviously we need oil

to actually sustain a a green energy

transition we need oil we need cleaner

oil and cleaner natural gas but then of

course you get States like California

that are like if we can't have 100 green

natural gas we just won't do anything

and then you get I ran for governor on

this okay so I can I can go on about

this but basically California's got like

1970s natural gas production facilities

and those natural gas companies are like

hey California we can make our stuff

more efficient emit less carbon monoxide

and carbon dioxide and actually be

cleaner for the environment if you let

us make some improvements to our crop

and California is like nah man your

improvements aren't 100 green so screw

you stick with the 1970s stuff that just

makes everything worse it doesn't make

sense the regulations on our truckers in

California are such that it's almost

impossible to run a trucking business in

California it's ridiculous and so what

does that do

makes everything worse so the policies

are like they try to come from good

spirits but the implications that our

government's stupid actions have or that

everything is broken it's pretty bad now

I'm not here to say that yes okay it's

the end of the world but let's just say

they're a real real problems

fortunately though at least according to

T.S Lombard which is a bear in the world

we might be okay for a little bit longer

because we are still the best of the

worst however I agree with Tucker

Carlson in that if there's anything

Tucker says or tells us it's that we

should not become complacent that

complacency could literally be the end

of America and I think that is the

warning Tucker is sending us and I don't

disagree with that once we become

complacent we lose the same is true in

our personal lives which is exactly why

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