Cultural Marxism in America: US DOLLAR, Reserve Currency (Segment 4)

In this segment of "America Under Fire — The Old Guy Speaks," we discuss the significant advantages the U.S. has enjoyed for nearly a century due to the dollar's status as the world's reserve currency. This position, held by the dollar since the aftermath of World War I, has allowed the U.S. to maintain a high standard of living and run budget deficits by causing international trade to be conducted predominantly in dollars. However, this dominance is waning as other nations, particularly those in the BRICS alliance (Brazil, Russia, India, China, South Africa, and others), actively pursue "de-dollarization" strategies, seeking alternatives to reduce their reliance on the U.S. dollar in global trade.

As these de-dollarization efforts gain momentum, America's economic power and wealth would diminish, leading to a lower standard of living. Fed Chairman Jerome Powell has suggested that a U.S. Central Bank Digital Currency (CBDC) could help maintain the dollar's global standing, but only if used exclusively for international trade. However, the potential introduction of a CBDC for domestic use could have catastrophic consequences, as seen in the shift towards cashless transactions and the rise of "Reverse ATMs" that convert cash to digital currency. The segment closes with a sobering quotation on the potential collapse of the federal government's debt-driven economy, highlighting the risks and uncertainties of the dollar's future as a reserve currency.

00:00 Introduction to America's Reserve Currency
01:20 Historical Overview of Global Reserve Currencies
03:11 The Decline of the U.S. Dollar
04:21 De-dollarization Efforts by Other Nations
06:20 Potential Impact of De-dollarization on the U.S.
06:54 The Rise of Digital Currencies
08:54 Closing Thoughts and Future Topics