Zakaria identifies key part of Putin-Xi meeting you may have missed
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- čas přidán 25. 03. 2023
- CNN's Fareed Zakaria discusses the potential impact on the US dollar after Russian President Vladimir Putin announced that he favors using the Chinese yuan for financial settlements with other countries. #CNN #News
I haven't seen something so real from CNN for a long time.... thanks Zakaria!
for more than 20 years, or when they start to lie about 9/11 and Iraq
Farid is the only honest person left in CNN to give fair and neutral analysis
Keep it up
Tejas Shah
No it's because he just changed his tune true always hurt
The US does not care how its financial policy affects other countries, and this imposes risks to all countries who use dollars. That is the main reason that more and more countries start using other currencies.
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!;
We are not worried. The reason we allow you to use our currency is that after World War II, we broke the "Imperial Colonial System". The way that British or Spain would control it's colonies was through it currency. By allowing you to use our currency it prevent "colonial powers" from controlling your country. So if you want use some else's currency just watch you will become their colony. That why people use US dollars because it neutral.
czcams.com/video/8PbggMWytAU/video.html
@Roe Wade says: You go print some more American Rescue toilet paper.
The US does not care how it's foreign policy murders others...
Just a small reminder: Muammar Abu Minyar al-Gaddafi in Libya wanted to end the dollar as payment for oil and use gold instead. We all know what happened to him.
yes, the world has learnt the lesson well and scenario is different today. a group of countries in brics are coming with alternative. 3 of its biggest members are already trading in own currencies and more are joining. usd will not be replaced by a singular currency.
try that with russia and china and we will see if u are still alive
U just admit that ur country are murders u hypocrites so glad that the dollar is collapsing just keep listen to ur fake medea until u find out that usa is collapsing and the gold will be the standard
same wanted Saddam Hussein. We also know what happened to him
@@blessyou163 mistakes like that won't happen again 😉
China is not Libya
Prove that bullying does not pay off!
I always gird myself for the bad news when I watch Fareed. Always dire, often ominous.
and yet.......truth straight from the hip ( cant say that about any other CNN correspondent)
True.
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!"
Often followed by Rushbots
Don't confuse style with substance.
I like you're insight into the dollar, two questions I always ask myself when hearing a comparison of the current deficit to some point in the past are: is there a comment on an allowance for the trend of previous rates of increase; and, does the deficit comparison acknowledge a differential for inflation?
EXACTLY. IN A SHARED SCHEME, IF ANYTHING TKAES A DOWN TURN DUE TO UNFORESEEN FACTORS LIKE : ANOTHER GLOBAL PANDEMIC THAT 'PUTIN', RELEASED: THEN WHO ENDS UP CARRYING THE MOST OF THE DEFICIT COST????? OR IF PUTIN GOES BUST DUE TO OVER WAR SPENDING. DOES SOMEBODY ELSE IN THE TRIANGLE CARRY HIS DEBT FOR HIM?@ AS AT LEAST IN YOUR OWN INDEPENDENCE, THEN YOU CARRY YOUR OWN BORROWING OR DEBT DECISIONS TO YOUR OWN FLEXIBLE PROFITABILITY: IF NOT BE GREEDY. NOT GREEDY? PUTIN WILL NOT UNDERSTAND THE BALANCE OF THIS TERM AT ALL.@
The second war of Iraq was mostly a warning against countries (Angola, Venezuela, libia) who were receiving other currencies for oil.
No one cares anymore. The rest of the world has lost its fear of the bully.
So true. That was the start of end of dollar and American hegemony.
Oil producing countries should follow suit for petroyuan.
@geebones1 nope.
The principal thing that make US hegemony look goog are the prospect of other hegemonies. Including the chinese.
@arthol51 Yes. The alternatives are much worse.
The USA America calls it "Liberation" instead of "Invasion". That was what US call it in Iraq, Afghanistan, Libya, Syria, Yemen, Somalia and the list goes on... Why the double standard? Confused... Please enlighten. Genuine question...
Instances of the United States "liberated" or overthrowing, or attempting to overthrow, a foreign government since the Second World War. (* indicates successful ouster of a government)
China 1949 to early 1960s
Albania 1949-53
East Germany 1950s
Iran 1953 *
Guatemala 1954 *
Costa Rica mid-1950s
Syria 1956-7
Egypt 1957
Indonesia 1957-8
British Guiana 1953-64 *
Iraq 1963 *
North Vietnam 1945-73
Cambodia 1955-70 *
Laos 1958 *, 1959 *, 1960 *
Ecuador 1960-63 *
Congo 1960 *
France 1965
Brazil 1962-64 *
Dominican Republic 1963 *
Cuba 1959 to present
Bolivia 1964 *
Indonesia 1965 *
Ghana 1966 *
Chile 1964-73 *
Greece 1967 *
Costa Rica 1970-71
Bolivia 1971 *
Australia 1973-75 *
Angola 1975, 1980s
Zaire 1975
Portugal 1974-76 *
Jamaica 1976-80 *
Seychelles 1979-81
Chad 1981-82 *
Grenada 1983 *
South Yemen 1982-84
Suriname 1982-84
Fiji 1987 *
Libya 1980s
Nicaragua 1981-90 *
Panama 1989 *
Bulgaria 1990 *
Albania 1991 *
Iraq 1991
Afghanistan 1980s *
Somalia 1993
Yugoslavia 1999-2000 *
Ecuador 2000 *
Afghanistan 2001 *
Venezuela 2002 *
Iraq 2003 *
Haiti 2004 *
Somalia 2007 to present
Honduras 2009 *
Libya 2011 *
Syria 2012
Ukraine 2014 *
2014 - 2022 - 6 countries yet to verify.
Pakistan 2022 *
Haiti 2022 *
It ddnt get overlooked, they downplayed it.
Thanks for this additional angle.
Great understanding. Thank you.
The debt spending is crazy. Even with dollar hegemony running Trillion dollar deficits makes no sense.
The Fed balance sheet is a whole other bomb. They could focus on unwinding the balance sheet and see how that impacts the monetary system rather than running up interest rates. Paul Volcker did not have 8.7T in assets to unload, he would not have required 20% interest rates if he did.
Yes, I get that in 1980 8.7T would have been ridiculous. Total GDP that year was less than 3T.
So everything should have ran it’s course during the pandemic ? Fiscal auditing and I mean laser focused not politicalized would help , gutting wealthy influences on American politics would help , hell even universal healthcare would help
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!%
(1) Then raise taxes. To be perfectly frank we should probably be spending approximately 33% more than we do, and most of that on infrastructure (which we used to do in the name of defeating Communism).
(2) The Fed balance sheet is only a problem if they offload or unwind it too quickly, holding it doesn't change anything-especially not the interest rate.
In addition, limiting price increases has not been utilized. The main reason for inflation right now is that we have monopolies so that companies can raise their prices, not for adjustments to inflation to maintain their profit margin, but to increase their profit margin and use almost zero interest rate loans, tax breaks and subsidies to buy back their own stock and even raise their profits more, rather than so called "trickle-down-economics", in the form of hiring more, giving raises, and investing in communities.
PR!NT M0RE US D0LLAR SENDS T0 M!LL!TARY INDUSTR!ES LATER THAN SENDS THE W3AP0N T0 UKRA!NE, T4!W4N AND TAL!B4N!!!
😂😂😂🤭🤭🤭
Revenues are the problem, not spending. Since Reagan, investors have been preferentially permitted to divert investment into wealth accumulation instead of investing in public infrastructure and capitalizing human development (education, health, etc.). Multinational corporations have avoided paying for the security of open markets that American foreign policy and defense have made possible.
Clinton was last President with budget surplus.
Bush with his crusade against Islam started the destruction of America and democracy in general.
👍
of course you blamed this on Trump 😂😂😂😂😂😂😂
No one liked or trusted him internationally. He was isolationist and irrational preferring to withdraw from the world rather than find cooperation and seek consensus which have been at the root of the post ww2 international order sponsored by the US (but not only the US). From his surreal speech at the UN where he claimed to be the greatest president of all time (people laughed), to his unilateral withdrawal from the Iran deal emphasizing politics to sense, to his threats to NATO making dictators think the west was divided and weak, to the agitation he caused his closest allies by thinking small & selfishly without seeing a bigger picture, to his obvious ignorance of history and geopolitics with his refusal to learn or even study information given to him, to his ignoring and questioning the information and conclusions drawn from his own country's very competent intelligence and diplomatioc core, to his unilateral withdrawing from UN institutions letting the Chinese in in its place, to his slashing of the American diplomatic core worldwide. Yes he is probably one of the worst presidents in US history. Narrow minded, ignorant and no care or understanding of consequences the future. The only cares he had were personal gain, winning elections by feeding the delusions of the right and avoiding jail. Weakening democratic institutions in the US if it enriches himself is not even too far.
I am not an American so what you're hearing here is the almost universal opinion held by your friends. He was piss poor and the cause of many of today's serious challenges. Not the only one if that's a concession you wanted to hear.
Kindness for kindness, blood for blood
China do not want to replace dollar with Yuan, China want to provide an alternative.
Yaaa ok. lol You can trust a dictator if you want...
Fareed's reports are always top rate for valuable analysis; and this in particular is poignant, powerful, and prescient.
Yes he was spot on with Iraq…. Such a war monger he is
It's trumps fault. We should spend millions investigating him. Oh wait we already are. And guess what trump said would happen if China Joe got in office. He said all this would happen. It's happening and you sheep still hate the guy because the lying George Soros media and that's owned bought and paid for. Keep telling you sheep orange man bad orange man isn't bad. Do you ever think they go after orange man so much because he's a threat to the establishment because he's a billionaire and cannot be paid and bought off.
Don’t be too sure
Maybe the most serious analyst at CNN
Is this the reason why my grocery bill has trippled in cost in the last year ?
Both the Russian Rouble and the Chinese Yuan compared to the Dollar, Pound and the Euro are absolutely worthless.
It's not the value in numbers that is important, but what it can be exchanged for.
How good is a USD if you need $8 to 10 to buy a dozen eggs, sure the USD is worth 77 roubles, but a dozen eggs are only costing 160 roubles. On this exemple for instance which currency is better?
I am very happy to see this power plas around the world for years America been acting like they are the one who make this world and we are living in
YOU WON'T BE HAPPY WHEN CHINA TAKES OVER THE USA!!!!
Thanks Fareed. This is a national security threat that needs more attention.
As a Canadian I do not use or care about USD, why Russians o Chinese should? And how using rubls or pesos is affecting us security?
@@eduardselskiy320
- What is your dollar backed by?
- Well...
1. military bases around the world
2. and those tanned guys have oil
- And if they do not want to give their oil?
- then see point 1.
It is not a national security threat consult comments from economists not social media celebs
@@Wolf-hh4rv Clearly you're not very good at paying attention. So sad.
@Cynthia Marie National security threat??? Really???. You brought this upon yourself by weaponizing the Dollar. An alternative is very welcomed. It significantly reduces the capacity of a single nation to unilaterally crush the economy of another. It is simply no longer acceptable.
All great effing points. This needs to be talked about a lot more.
Damage has already been done..Developing economies have become skeptical to keep their foreign reserves in dollars only rather then they have decided to diversify it in different currencies along with gold
Less than 3% of global reserves are held in Chinese RNB. Even the yen is a more trusted reserve currency.
@@liversuccess1420 The important thing is that the USD goes down.
@@eanerickson8915 If that's all you care about, it's going to take a lot longer than you think.
The problem is that most people don't have a front seat view of what America really is. Canadians do.
Wealth to Power: The Unusual Origins of America's World Role
It's trumps fault. We should spend millions investigating him. Oh wait we already are. And guess what trump said would happen if China Joe got in office. He said all this would happen. It's happening and you sheep still hate the guy because the lying George Soros media and that's owned bought and paid for. Keep telling you sheep orange man bad orange man isn't bad. Do you ever think they go after orange man so much because he's a threat to the establishment because he's a billionaire and cannot be paid and bought off.
This feeling right here is why everyone feels like we’re not on the right track. I have 2 girls in their early twenties. I’m so afraid for their future.
your parents were afraid for your future once upon a time. that just seems to be the way they want the sheep to feel. stay thirsty my friend.
Thank you
Powerful segment 😮
While we do not want a Yuan dominance, the Dollar dominance have been unfair and must end.
Aw, poor you
A dollar dominance means the financial risks of US are shared globally. 2008 is a perfect example. Of course, one can argue that given the size of US economy, the same fallout was going to happen regardless. Diversification always reduces the risk but the world is so tied to dollars.
@@oliverxie9559 yes, if the EU or China economy goes down, so will the US. It’s a global economy. You might not like it but that’s the facts..
@@steviesevieria1868 I was talking about the currency. It’s a connected world but one can still try to diversify their investment to minimize the risk. Companies do the same with supply chains. Countries that seek the same goal can’t afford to decouple with USD. If USD tanks, the whole world’s economy suffers. Less so if Euro tanks and much less so if Yuan tanks. It’s not anyone’s choice or preference really and the dominance of USD is the foundation of a unipolar world order.
@@oliverxie9559 all good … 🇺🇸
We didn't miss it.. the media just turned a blind eye to it and keep talking about "junior partner"!!
Well said. They first lie and obscure the facts then turn around and say people missed the facts. US and Euro media have become pathetic.
Lol you're so right everything in the media was junior partner this and junior partner that
😂😂😂😂
The USA and Canada can still thrive successfully, be contented, and be happy by themselves. They do not need anything else outside their borders. Name one to challenge me.
Thing is there's nothing one can do about any of this... just sit back and try to be happy 🙂
The yuan is almost a closed currency. Expats in China, for example, have to jump through ridiculous hoops (of paperwork) to transfer their money out or to convert it into another currency. The Chinese government's tight control of every yuan is far too restrictive for any serious consideration of the yuan as a world currency.
confirming, as an expat
Of course, it is a closed currency, why would they free-float their currency just to be exploited by the Fiat USD? The Yuan is backed by the gold standard while the USD is not.
Yes in sdr basket it is now 12% from 2% from last five years now reaching 16% experts lol
@@zackwang9314 This, is the biggest US hegemony lie.
@@zackwang9314 let these guys be stupid in their ignorance
If I were a 3rd world leader, I know the drawbacks of using the USD, but how do I know the threats of letting Beijing controlling my foreign transactions? Could it be THE opportunity for the EUR?
Countries use their currency to trade with each other. When they have their balance they use it to buy assets or multiple other arrangements.
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!:.
Look Tien, the African nations f**ked over China to the tune of trillion US dollar. You think China going lay out more money try and create an new currency in which you benefit. Tien smoke more dope, seriously smoke dope.
You don't really know the drawbacks lol
The US is tanking the Euro now to prop up the dollar
of course they will. You can't alienate everyone and expect something different.
Australia here. You don’t think that it’s China that’s been increasingly aggressive on the international stage?
It's like comparing a fruit fly to a rabid uncontrollable disease ridden coyote. China has not devastated any countries in the way the united states has, and that is excluding internal american problems like a gestapo that kills minorities especially blacks with little to no repercussions and crazy inequalities. It is ridiculous to compare China to a country that has Iraq, afghanistan, syria, libya, yemen, ukraine proxy under its belt since the year 2002. That is just the big ticket items. You can add hundreds of other disgusting villainy instances on top of that. China is the guy at the bar that bought one beer. america is the guy that raped and murdered 50 women and everyone still hangs with them.
How exactly is china acting aggressive? I really want to hear your reasoning
@@ksica Hi Rose. I’m not sure where you’ve been living, so I’ll try and give a quick summary of the atrocious behaviour by the Chinese communist party in relation to Australia.
For years they have had thugs trolling around the many universities in Australia attempting to throttle free speech and intimidating ethnic Chinese students who wish to exercise their rights in this country.
They have been actively interfering in all levels of political activity, from local to state and federal…..making donations to politicians surreptitiously and openly, in order to gain favours.
Because the federal govt of Australia spoke out about the treatment of the Uigher minority, and requested openness during the Covid pandemic, they began an economic campaign against Australia. They banned the import of tens of billions of dollars in Australian products, from barley to seafood to wine to coal……and many others. It can only be presumed that this was an attempt to bring Australia to heel. Take note that iron ore was not a prescribed commodity, because they need that.
Basically, the whole campaign backfired, as Australia found other countries to export to, and 100s of millions of Chinese suffered power failures during winter as millions of tons of Aussie coal sat on bulk carriers of Chinese ports.
The Chinese secretly started the coal imports again, and with a change in govt in Australia, began to try to normalise the relationship.
In the interim Australia learned a harsh lesson about dealing with president Xi.
The Defence budget has been beefed up and the AUKUS deal has resulted. It didn’t have to be this way. Australia had been a firm supporter of China under previous leadership, and both countries had benefited enormously.
There are many other issues that I haven’t even touched on…..the Solomon Islands…..obvious intelligence activities etc etc .
🤭🤭🤭, US PR0P4G4NDA FUNDED BY C!A!!!
The US is a net importer country which means other countries have dollars. China is a net exporter country which means its very difficult for other countries to get yuans. On top of that the yuan is sometimes a fixed currency and sometimes floating. Mostly depending on the mood of the chinese governement. Good luck having trade with a currency that almost no other country has and doesn't get its value through free markets.
Nobody trusts America / Wall Street anymore for good reason and that's the entire point. The rest of the world is already bailing on the USD and it started after the 2008 Wall St financial heist and land grab. The world changes and it is slowly but surely leaving unbridled capitalism behind.
Hahahahaha.... China is a net importer of natural resources and food
China has largest trade surplus or highest negative net imports on its gdp in world. it only needs payment to be made in yuan. to maintain this surplus, its in its interest to have a stable yuan. it wont replace usd but coexist, last ten years growth trend however favors the yuan
LoL the value of the dollar isn't controlled by the free markets long term though - only short term !
The long term value is purely decided by how much the FED decides to print hahaha
And they have printed way too much for way too long. Inflation is gonna hit big time, it's only a matter of time...
Goodluck americans, you made your bed, now lay in it!
@@patrickgz a third world country can be stable market compared to the best tier economy? Are a CCP shill?
The strength of the dollar is and will remain its ubiquity. Who in their right mind would pin their energy dependency on volatile currencies. None is going to take that kind of risk.
Look up the "Debt Trap', which so many African and South American countries are falling into w/China, so they'd love an 'alternative currency'.... the value of which China could set instead.
Keep thinking that and live in fantasy land . You are only considering it from a financial market perspective.not from a political one which is what this clip was about
You need to wake up....its already started
Right, that's why BRICS nations are starting to use their own currency rather than USD and why they've created the NDB to counter the predatory IMF
Having the United States remain as the Centre State of the West is important to multiple other countries. The USD will be protected by other strong currencies, the Euro, Yen, GBP, AUD, CND and CHF.
How long do you think it would take for this reckoning to happen?
”we keep searching for the single replacement for the dollar, and there won’t be one” ever heard of GOLD & SILVER? 👋
This is great actually. The Yuan is one of the most artificially manipulated global currencies. Those stupid enough to trade in Yuan, will deserve all the pain they’re sure to endure.
Meh, Yuan is just a fallback option for those countries under American economic sanctions. The masterplan is actually the proposed BRICS currency that will displace the US Dollar as the reserve currency of the world in the near future.
@@skymaster4743 meh, please grab your keyboard and smack your face with it. The fuc&&k is bricks lol
Isn't the dollar manipulate with the might of the US?
@M. Brian Burchette Yes thank GOD the USD is not an artificially manipulated global currency lolol 🤣😂🤣
China has largest trade surplus or highest negative net imports on its gdp in world. it only needs payment to be made in yuan. to maintain this surplus, its in its interest to have a stable yuan. it wont replace usd but coexist, last ten years growth trend however favors the yuan
If he mentioned it I missed it, but russia is requiring all payments for oil and gas to be made in ruples. Maybe India wants to pay in ruples, but either way they are not being given a choice.
After Xi's visit he relented and agreed to accept the Yuan.
Racist India !
Go oppress some untouchables!
Ruble only from "Unfriendly" Countries...
@@justinebright2328 no it was all part of the plan to internationalism the yuan. Russia and China already used yuan and roubles
This is economically illiterate tirade. The reserved status and "spending" are not related.
I never listen to our enemies within!!!
The scary part is china's patience in this matter, they must be working behind the scenes in ways we haven't discovered yet...
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!:
Yea, like they collectively with other countries sell those bonds?
In this situation they’re just trying to untangle themselves from Russia’s bullshit
They are buying gold bc they saw what happened to Russia. China is the biggest purchaser of U.S debt but now fears the U.S wont pay back. It has bet a long time on the success of the U.S but we continue to demonize them in every way possible which is causing them to sell their U.S debt purchases.
Fared said there cant be any currency that can take the dollar on and there I knew he was told speak rather than know
No currency is even close to being in a position to challenge the dollar. LoL
The reserve should've been a basket of currency rather than just the dollar. This makes all participants invested in the system rather than trying to build an alternative system that excludes the dollar.
BRICS
Too much heterogeneity between economies.
And yet the DXY is pushing all-time highs.
Good to see that we are driving both of our adversaries closer to each-other.
Yup what could go wrong?
@@fingaryoriaz-nc2hw I guess that’s what happens when you put grandpa Simpson in power.
@@LennyLaserdisk Yeah, like Trump nixing the Iran treaty and adding $7 Trillion to the national debt were so 'helpful'.
@@klowen7778 1) Iran is not nearly the threat China or Russia are (very different).
2) Obama added $8.34 Trillion , and Bush added $6.1 Trillion before him
3) When Trump and Biden are the only 2 options, you know the world is in trouble!
Don't worry, the adults in the room now.
Time will tell, China still needs Western tech, this decade will show how future will lead.
They are way ahead of western tech and very innovative. This is just your illusion. Yesterday they showed world's first combat helicopter with wings.
@@DK-ev9dg
They actually infiltrated companies like 3M.
Chinese have excelled in Industrial Espionage.
They can get by with tech. They do need markets for all the crap they make, though. Otherwise, they'll be self-sufficient, but they won't be able to build any wealth.
@D K you're delusional, what ever came out from China or Russia or any dictatorship that brought progress? When freedom of speech and expression is a forbidden fruit, innovation, renewal and invention isn't possible. China progressed and became prosperous joining the world trade organisation providing a cheap, disciplined workforce manufacturing goods for mainly westren markets
@Jaak Savat
Did you connect your WiFi😂
I love CNN because of the subtitles and the topics of current life.
Fareed Zakaria have very clear English exposition but we are foreigner and sometimes unable to catch up important points, so we want that you kindly upload the CNN videos with subtitles. Thanks
O BRICS está se tornando cada vez mais influente no o mundo como sua cooperação econômica uns com os outros é fortalecedor.
Sim, mas é preciso ter muito cuidado com a China. Ao contrario do que se pensa, a China sempre teve ambicoes imperialistas. Tinha uma grande expansao antes de 1500 pelo pacifico e pelo indico, até á costa este africana. Por problemas internos colapsaram e os portugueses e depois os ingleses, holandeses e franceses nunca chegaram a contactar esse imperio. Mas a China, teve e tem ambiçoes hegemonicas. Agora a nivel global. Nao é por acaso que são o reino do meio.
BRIC .... creio mais no Brazil e na India. China e Russia acho que tem outra agenda.
I'm an ex-pat in Central America and have lost 20% of my social security income just to the exchange rates in the last nine months, and that is not including the staggering inflation Latin America is suffering. This is real, not getting any better, and it hurts.
Blame Joe Biden and the democrats. Trump 2024.
The deterioration of the financial condition of Central America is due to the aggressive short-sighted policy of the United States against China and Russia. The US finances will deteriorate, the finances of China and Russia will strengthen. Now the ruble has already become one of the strongest currencies in the world.
@@user-ww1ip1uz5d hahahahaha
Then You are getting a bad exchange rate kid find another exchange agency.
@@Time2Live.online If you want to buy gas in Russia, they won't sell it to you for "hahaha". You will have to buy for rubles.
Fareed Zakaria - master of the obvious.
He's right about everything
Yes, debt has increased many fold over the last 20 years but so has GDP. Let’s keep things in perspective!
Perspective? Increasing debt and inflation with money, we don't have, sent to Ukraine?
Our GDP is down.
Has Gdp outweighed deficit lets see if the US had it debt called on a 90 day demand note could they raise the capital
DAVID GASSER
Perspective? America is sliding into a collapse comparable to a fivefold Great Depression.
This is an irreversible process. How do you like this good news?
@@shlepmessing8703 From your statement I conclude that you were one of the select few who sent all their stimulus money back to the government. But if you didn’t you are a hypocrite and have contributed greatly to our inflation problem.
Let not forget Fareed was in the same club about Kyiv being under Russia control in 3 days. let not forget that. he has been inaccurate in this since the start.
No one saw this coming.
Everyone believed the Russian army was strong and mighty
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!?:%
@@janzzen9095 Putin has ended that myth & proved Russia is a terrorist state.
Frankly, I used to like to watch him until I understand he seem subtily anti american and now I rarely watch him cause lol! AsK am french speaking I have easily my daily dose of anti Americanism without watching american being self loathing! In fact I think american are the only countries that seem rooting against itself, werird!!!
@@janzzen9095 as we all believed in almighty America in Vietnam and Afghanistan war ....I never knew there will be any Taliban farmers still arive😂😂😂😊
It doesn't really matter. How many transactions are conducted with Russia alone. B most countries still switch to dollars. The transaction can be in one currency but they immediately want to put it into dollars or euros. Even Russia has currency reserves in dollars or euros too. Countries do transactions in other currencies but switch to dollars or euros.
America devaluing the dollar will also affect companies valuations abroad which could affect foreign investors
The day of the dollar dominance has ended. Currently, the dollar is just 48% of global reserve currencies. And it is rapidly declining.
being 50% now compared to at highs of 70% is a fact.
Still dollar remains...😂😂
Brics
I've heard this story before. The dominance of the dollar derives from always paying our debts, from doing so for centuries, from managing our country's currency competently, and the strength of our military - all really because the dollar is a known, predictable quantity. Russia is not currently stable and there are reasons to say the same about China. I expect little from this move by Putin and Xi.
- "the dominance of dollar derives from always paying the debt"
That probably is part of the reason for any government ' credibility, but not the entire reason for being dominant. UK also has a long history of always paying debt, and probably longer than US history. But Pounds is not the dominant currency as dollars.
Dollar has been the dominant currency since WW2 , and it's first Treasury bond was issued in 1960s.. so the dominance is definitely not because paying debt on time for centuries. And there is no such thing that US paying debt for centuries.
Haha a deluded yank your bank's are literally collapsing lol. This is exactly the reason lmao
Paying with debts with fancy paper. Such a deal.
😂😂😂
This smacks of desperation on the part of Russia and of trying to maximise an opportunity on the part of China. Neither of which means we are in imminent danger of this coming about.
So true.
The dollar is collapsing and the gold will be the standard
I do not think USA has really created an "economic coalition" as such. EU has been doing these by themselves and doing a lot of things USA did not even ask for. The first sanction package was prepped and ready to go before the invasion happened. I would say the Euro is more desirable internationally than Yuan too.
Let Explain something to you. When Emperor Napoleon Bonaparte sold Louisiana to President Thomas Jefferson in 1803 the economy of America would grow greater than British, French, Dutch, Portuguese, and Spanish empires combined. And that's before we took over Texas, New Mexico and California from the Spanish / Mexican Empire. We are own economic coalition, Major Moolah.
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!!
@@mandarinandthetenrings2201 no-one will listen to you
I am french and no way France \Germany would have done what needed if the US didn't in fact lead I the start! In fact many in France are angry about the dommage to Russia \France relationship and accuse the US for it. Second the EUro can't and won't replace the US dollar fortunely and neither is the Yuan! It will be smt else or nothing at worst for the dollars it will be less dominant but still the reserve by default
@@ryleneguiltry8873 First, all you need to understand Germany population is crashing. By 2050 their population will be cut in half. You will see empty cities in Germany. So there going to be an alliance of the Germany and France. This will force Britain to make their own alliance with the Nordic countries to counter the Franco/German alliance.
with China's recent economic instability they're not being realistic.
Seeing how US hwving its own econmic instability, its fair game for China -Russia economic alliance with africa , south america and latin america
Our economy is weak and unstable...WE are the one's not being realistic...Which is, incidentally, one of the many reasons we're losing the war in Ukraine.
They could cut back by stopping payments to the Biden crime family.
Biden condones China's genocide against Uyghur Muslims as "different societal norms. " 😒
It is funny to see Americans pray for your competitors to fail，then you are already lost the game😂
Isn't the Chinese 'Yuan' pegged to the USD? That means to keep the currency to where it is, they have to buy and sell the USD to keep the currency set to it's value.
One of the scariest news pieces I've seen...
People have been talking about this since Obama but Democratic/Republican tribalism has made everyone turn a blind eye to it
Russia and China are diversifying from dollar not because it's getting stronger, but because it's getting weaker.
Your statement reflect your colonist mindset totally outdated. We are in 2023, not 1981, boy.
Russia’s economy was rated CCC Junk by all international agencies, before the Russo Ukrainian War. Russia is in such a sore state, these agencies have given up on trying to rate it.
According to capitalism, this is good because it's increased competition.
Not a complaint about your reporting, just wondering about capitalism vaunted status.
capitalism is becoming more and more attractive year by year 😆
America's behaviour has managed to isolate it from the rest of the world, rather than Russia. The dollar as reserve currency is on borrowed time.
Lie...dollar is not goin anywhere🤣🤣🤣...u wish will never come true...dollar all the way...eat ur crap currencies.
The USD 💵 has a line on it makes it dominant, rmb has no match
What does US Dollar composed from or represent for?. China, Japan, and many other countries buys US debt. It actually not only represent the US economic power, but also represent each of those countries confident to US Dollar as an instrument to store value and exchange.
It would be positive if Yuan is able to internationalized its existence and become competitor to US Dollar, but as Fareed said, it would be opposite to China domestic goal. They want to compete the US Dollar but peg their currency to US Dollar in non market acceptable manner.
Or, perhaps countries can do exchange using pre-modern method such as barter or using gold as an instrument of exchange?. yes, certainly they could. To some extent they could and some has done it that way. However, to value those exchange is still using US Dollar, and even gold is valued in US Dollar for fair measurement.
After all, it is not about US Dollar, Yuan, gold, or any other medium. It is about trust that the exchange is done in fair manner, and those medium is a representation to that trust.
This is why there is and won’t be for the near future, an alternative to the dollar. The yuan and ruple are too unstable and over manipulated by their government. Xi and Putin can’t match the dollar.
Note they didn’t offer gold, the only other alternative.
Nobody trusts America / Wall Street anymore for good reason and that's the entire point. The rest of the world is already bailing on the USD and it accelerated after the 2008 Wall St financial heist and land grab. Trump's failed trade war against China exacerbated the problem and introduced supply chain interruptions and Wall Street couldn't wait to cash in on the pain felt by average people. THAT will boost global confidence in the USD. 🙄 The world changes and it is slowly but surely leaving unbridled capitalism behind. Maybe you missed the part about 💸〽5% per decade.
The United States began to use the dollar as a weapon. instead of making a profit. this is the beginning of the end
China no longer buy US debt. It used to own 1 trillions plus, now it now downs to about 800 billions. As years go by, it will will go further down.
I guess you dont know that China Japan and many other countries have been dumping US bonds since 2022, and France is the champion under this category, Germany ranked No.1 in Jan 2023
Most people are blind to what’s truly going on in this world.
Teach us !
Could we borrow your flash light?
And a watchman calls out an approaching danger.
spot on!
The yuan and rubble and rupi are so sought after.... That's why all the billionaires in the world buy US and Western property and companies. That's why Chinese billionaire's and Russian oligarchs are buying US and Western property and stock in Western multinational companies. Because they have so much confidence in their own countries and their own currencies.
Remember what happened to Jack Ma ?
Anyone who knows his story isn't rushing to trade in a dictators currency !
Exactly lol 😂
Because US is corrupt country
Both the Rubble and Yuan-H are barely traded on international markets. Recent gains by China were bought about but currency swaps, especially with Russia, not trade.
@@petersinclair3997 rubble?
Even Chinese have dollars as currency reserves and own debt in dollars. It's not simply about transactions but the entire financial system.
China and so many other countries are reducing dollar reserves for some years.
Fox already told us about this
Fareed, sometimes I wonder who you work for. I mean that seriously as I detect subtle rhetoric in your words. My propaganda alarm goes off every time I try to watch your reporting.
During iraq war when he went out of line he was given a reprimand ie the Palgarism issue. He issued an apology to be in the good books.
US has turned into an analog of USSR one can't believe one word which comes out of the mouth of media and it's public figures. If they say the sun is out and it's day time one will have to go out to confirm if it's true.
The dollar won't go anywhere very soon. The key point is that these other "rival" options are currencies that can be, or I should say are, manipulated by the central governments. They will never become global trading currencies unless that aspect changes (but it won't)
Yuan, Kai!
As opposed to the Reserve Central banks in US and Western countries? Lol
Our government doesn't manipulate it's currency? They constantly manipulate the currency.
Manipulated like usa froze and confiscated all Russian and afghan moneys? Manipulated like USA unilaterally sanctioning countries and stopping them from accessing their funds?
Very clever as usual. 🇨🇦
I never expected to hear this from CNN. Everything is awakening now.
Finally someone that talks about this! This is really where the buck stops, the party ends, it is over. And nobody seems to care or listen.
As a Canadian citizen, I call upon my country to make a effort to create and use an alternate international payment transaction system that is independent from the U.S.A. system (SWIFT) that is being used for weaponized use in an economic war.
Well I'm sorry K. C. but it not going to happen because Canada is get all the benefits from the Swift system without having to pay for it. Oh that right if you create a new monetary system you have to pay for it, which you CHEAP HIPPIE A** isn't going do! You like free, not I need to tax myself. You Canadians didn't have pay jack shit for setting up Swift we American paid for it. So quit your whiny.
Swift is European by the way.
But stupid EU gave their governance to the USA leadership because they are all corrupted within the EU.
BRICS
Zeihan says China overprinted the yuan.
ZE!HAN IT'S AN0THER ID!0T F4KES THE0RY PERS0N 0N EARTH!!!
🤭🤭🤭
Any ideas about solutions?
If countries feel they can trust China.....However is the yuan stable? And is it better to be under the Chinese dominion? And don´t they need to be able to balance their import and export in a very narrow group of countries if they just want to use yuan? It seems some failing Belt and Road investments might end up affecting the position of China among a lot of developing nations.
You may not like the US-dominated institutions but at least you know what to expect.
Yes majority of countries and population trust China more than evil empire usa
🤣🤣🤣 Anything is better than the dollar, bunch of US terrorists imposing illegal sanctions and the world having to fund their 1 Trillion military budget for the fascist with their 1000 terrorists bases all over the world invade and do coups.
Well said couldn't agree more if you want to put your trust in china and Russia then your doomed already
you miss the point,it is not about china. US just printed so much dollars,and everybody just try to find a way to escape,if shit happen.
Like you always know what to expect from a bully. That's why countries are looking for alternatives. If having fair competition is good for the consumers, wouldn't it also be good if we had a fair world financial system?
America is a debt based economy and should have not left the gold standard because as we have seen just recently with SVB confidence is down fear is up along with interest rates so the dollar will continue to fall until confidence can be reinstated into the market
I agree but SVB was managed by woke imbeciles so its a special case.
Neanderthals agree!!! unite with your ancestors. cohorts are tough to find on this one. I recommend a tin foil hat....
The Chinese yuan is already being bought up in the world, this currency is already better than cryptocurrencies, and the yuan has been growing for several years!! You need to withdraw dollars from the bank and buy yuan, as George Soros did!! This is necessary to save your income! The whole world is switching to the Chinese yuan!__
The only year the US has been in surplus was 1835. The US has consistently had debt economy. The global economy is too big for a gold standard. A return would require governments compulsorily acquiring gold from private hands at a below market price and floating the gold currency exchange at higher price.
The US just keep printing more paper money is a problem for the long haul.
That's alot of toilet paper
This is how the new BRICS+ global currency will work. They call it Gold Gram (GG), a digital currency to be issued by the main BRICS council on ONE day, assume Aug 1, 2023. The quantity of GG to be issued is based on the actual gold reserves at each central bank or certified gold holdings, in grams. Assume Brent oil price on Aug 1, is US$ 80/barrel, the spot gold is US $70.5/gram. So the oil price of that day is 80/70.5 = 1.13 GG/barrel. Saudi produced 5 million barrels that day, then there will be a credit of 5,000,000 x 1.13 = 5.65 million GG to Saudi govt ARAMCO account. That same day Japan produced 10,000 vehicles valued at US $30,000/car, so BOJ has 10,000 x 30,000 /70.5 = 4.26 million GG to its credit. On Aug 2, 2023, Japan bought 1 million barrels of Saudi oil, at 1.18 GG/barrel spot price, with BOJ's credit of 1.18 million GG. The same day Saudi bought 5000 Japanese cars with 5000 x 30000/70.5 = 2.12 million GG from ARAMCO's credits. From there on, every body use GG as the global digital currency, based on COMMODITIES and products.
All the central banks and big finance banks are NOT allowed to loan out any GG more than what they have in their GG credit EARNED from commodities and products. No more house-of-cards with phony Fiat money. 🤔🤨😉🙃🙂😎
Peter Zeihan has some interesting thoughts on China and their attempts to kill the Dollar as the global reserve currency. It would be interesting to hear him and Fareed have a discussion.
China does not want to "kill" it. China just wants to trade with their own currency for stability. Currency exchange fluctuates all the time, and it affects trade stability. The US does not care how its financial policy affects others. That is why you see more and more countries start using other currencies.
Then Mr. Zeihan could tell how ridicoulous idea it is..
IMHO, it is inevitable that China economy over-takes the U.S.A. economy as global financial super-power. This is simply because of the population difference between the east and the west.
Attempts to kill the Dollar have been made by the US neocon uniparty leadership by turning to monetary piracy.
Dude, China has no interest in US dollar. They just lost 1 trillion dollar loaning money to African and South American nations that have told them they will not pay them back. So now you think Steve they going lay more money for bunch ingrates that just f**ked them over! LOL hahahahahaha 🤣
TAX THE RICH
I agree with Xi and Putin on this issue. Americans have unfairly benefitted from the US dollar's reserve currency status. It's time for a major change.
You don't understand Xi and Putin want to use their currency to turn your country into a colon of theirs. That what they are trying too do. That why captured regions of Ukraine can only use the Russian ruble.
You would be surprised how many countries went into a panic when the banks failed last week! They were all in a panic about it’s solvency & dependence! They are also concerned about the IS dept!
Kitconews did a great piece explaining how exactly Yuan can replace USD in part of international trading. That’s not to say USD will be replaced completely but it’s enough for the US economic hegemony power to fall!
Lmao. Don't be surprised when you're saying the same thing in 2033.
"So, "Big Guy", you want 10% in dollar or yuan?" - Xi
"...Gimme the yuan, jack...I tanked the shit outta the US dollar." - Joe Biden
"Haha...yes...you did...And good choice." - Xi
The government needs to reduce it’s deficit spending. This means cutting defense and cutting other programs.
Kill the dollar, kill the endless war.
Could you give your take about the fairness towards global world with "usd" as the global currency. US proclaims itself as benevolence. Should a benevolence country take advantage of the entire world? Is it benevolence or hypocrisy? Who gives USA the rights to sanction every country with the system never being voted as accepted by any country democratically. Is might equal power foreign policy coming into play?
Great questions!!