WEBVTT - The Dollar's Reserve Status: What You Need to Know 0:00:00.080 --> 0:00:02.600 Hello, and welcome to another episode of The Mark Moss Show, 0:00:02.600 --> 0:00:07.760 where we talk about the decentralized revolution whatever that whatever 0:00:07.800 --> 0:00:10.160 that means, talking about the way the world is changing, 0:00:10.320 --> 0:00:12.200 and we look at it through the links of politics, finance, 0:00:12.240 --> 0:00:15.080 and technology to understand what's going on in the world 0:00:16.040 --> 0:00:18.000 because it's changing. As I say, the world we're going 0:00:18.000 --> 0:00:20.280 into is not the one that we're leaving behind. And man, 0:00:20.400 --> 0:00:23.560 is it moving fast. It is moving fast. We're gonna 0:00:23.600 --> 0:00:25.279 talk about a lot today. We have a lot to cover. 0:00:25.600 --> 0:00:28.720 There is lots of news going on about the dollar 0:00:28.880 --> 0:00:31.400 losing its reserve status in the world, lots of talk 0:00:31.480 --> 0:00:35.120 about Saudi Arabia joining the bricks nations, the dollars losing 0:00:35.120 --> 0:00:39.040 the reserve currency status. Oil is being traded in yuan 0:00:39.200 --> 0:00:42.840 not in the US dollar, all these things. Last night 0:00:43.080 --> 0:00:47.160 I got two emergency phone calls, one from my friend's wife, 0:00:48.280 --> 0:00:51.400 another one from my friend. I'm worried about my money 0:00:51.400 --> 0:00:53.640 in the bank. What's going to happen? So we're gonna 0:00:53.640 --> 0:00:56.280 break all this down. We're gonna break down what is 0:00:56.360 --> 0:01:00.120 going on with the dollar with the reserve currency status, 0:00:59.720 --> 0:01:03.200 Whats going on with China and Russia getting together and 0:01:03.280 --> 0:01:06.240 conspiring yes, that's a real thing, Zee and putin getting 0:01:06.280 --> 0:01:09.440 together what's going on with the bricks nations? What about 0:01:09.440 --> 0:01:11.880 Saudi Arabia? What if the dollars a reserve currens task? 0:01:11.959 --> 0:01:13.720 What does that mean for your money? You're purchasing power 0:01:13.720 --> 0:01:17.080 and all these other things. So we got a big 0:01:17.280 --> 0:01:20.400 hour to go through, lots of talk about and discuss. 0:01:20.760 --> 0:01:22.960 So I want to break this down. Like I said, 0:01:22.959 --> 0:01:24.800 I had to get on two emergency phone calls just 0:01:25.000 --> 0:01:28.679 last night to diffuse the situation, to walk people off 0:01:28.680 --> 0:01:30.479 of a cliff. And so I want to break it 0:01:30.520 --> 0:01:34.280 down for you. Now. This has, I want to say, 0:01:34.280 --> 0:01:39.280 it's reached a feverish pitch because we saw Fox News 0:01:39.959 --> 0:01:44.720 talking about this, talking about the dollar losing its reserve status, 0:01:45.280 --> 0:01:49.080 and you might you might understand or believe that, you know, 0:01:49.320 --> 0:01:51.520 Fox would talk about that because Fox talks about things 0:01:51.560 --> 0:01:56.720 like that, but it would it was on CNN. CNN 0:01:56.800 --> 0:01:59.640 was talking about it. When CNN talks about it, you 0:01:59.720 --> 0:02:04.600 have you have to imagine what are the conversations like 0:02:04.840 --> 0:02:09.000 that's led to it getting to that point. Imagine the 0:02:09.040 --> 0:02:13.480 conversations that are happening in Washington, you know, and other 0:02:13.560 --> 0:02:17.160 newsrooms before CNN actively comes out and talks about the 0:02:17.240 --> 0:02:19.760 dollar losing its reserve status in the world. So what 0:02:19.880 --> 0:02:23.280 does that mean? Reserve status? What does it mean if 0:02:23.320 --> 0:02:28.720 it's losing the reserve status, and more importantly, what do 0:02:28.880 --> 0:02:32.480 you care? What do you care? Well, let's talk about 0:02:32.480 --> 0:02:34.959 that again. If you're tuning in, you're listening to the 0:02:35.000 --> 0:02:38.440 Markmas Show. We talk about, of course, the decentralized Revolution, 0:02:38.480 --> 0:02:40.720 and part of this is how the world is breaking apart, 0:02:40.760 --> 0:02:44.679 in from a singular, a unipolar world into a multipolar world. 0:02:44.680 --> 0:02:48.680 So the US since nineteen forty four has been the 0:02:49.080 --> 0:02:53.720 global superpower, and the US dollar has been the global 0:02:53.840 --> 0:02:57.240 reserve currency of the world in nineteen forty four, the 0:02:57.400 --> 0:02:59.919 entire world. Let's go back a little bit further, all right, 0:03:00.160 --> 0:03:03.000 So there's been lots of superpowers in the world, and 0:03:03.040 --> 0:03:05.240 there's been lots of reserve currencies in the world. I'm 0:03:05.240 --> 0:03:07.000 not going to go back all the way through history, 0:03:07.240 --> 0:03:12.680 but just know that England and the pounds sterling was 0:03:12.720 --> 0:03:15.960 the superpower and the pounds sterling was the reserve currency 0:03:16.040 --> 0:03:19.760 of the world before the dollar now, so we don't 0:03:19.760 --> 0:03:21.160 need to go back too much further than that. But 0:03:21.360 --> 0:03:24.280 what happened is is England and France went to war 0:03:24.520 --> 0:03:26.880 against Germany. England and France got together to go to 0:03:26.880 --> 0:03:29.399 war with against Germany. That's known as World War One. 0:03:29.960 --> 0:03:32.960 And in that war, they didn't have enough money to 0:03:33.000 --> 0:03:34.720 go to war. They should have never gone to war, 0:03:35.200 --> 0:03:38.760 but the United States bankers JP Morgan said, Oh, don't worry, 0:03:38.760 --> 0:03:40.880 we'll loan you a bunch of money. So they loaned 0:03:40.920 --> 0:03:42.480 them a bunch of money to go to war, which 0:03:42.480 --> 0:03:46.600 basically bankrupt them. And these nations spent all the money 0:03:46.600 --> 0:03:49.880 they had to go to war, and they had to 0:03:49.920 --> 0:03:55.120 give up all of their gold. And the US when 0:03:55.120 --> 0:03:56.640 they spent all that money to go to war, where 0:03:56.640 --> 0:03:58.640 do they spend it? When they spent it for supplies, 0:03:58.800 --> 0:04:00.520 So most of that money actually came back to the 0:04:00.600 --> 0:04:03.480 United States, and the United States was able to stockpile 0:04:03.520 --> 0:04:06.720 the gold. United States didn't want their debt because if 0:04:06.720 --> 0:04:09.560 they lose the war, who's going to pay it? So 0:04:09.840 --> 0:04:11.680 we took their gold and as a matter of fact, 0:04:11.720 --> 0:04:14.160 after the war, the United States became I believe the 0:04:14.240 --> 0:04:16.720 United States owned two thirds of all the gold in 0:04:16.760 --> 0:04:20.920 the world. The US had all had the balance sheet 0:04:21.040 --> 0:04:23.640 fortress balance sheet as it might be called, and so 0:04:23.680 --> 0:04:26.599 they had had all the gold and so basically the 0:04:26.680 --> 0:04:29.400 pounds sterling kind of lost its place. They printed too much, 0:04:29.440 --> 0:04:31.160 it was inflated in a way. Nobody wanted to hold 0:04:31.160 --> 0:04:33.880 it anymore. The dollar now was kind of this strong 0:04:33.960 --> 0:04:35.839 currency because it had all the gold in the world 0:04:35.880 --> 0:04:38.080 backing it, and they went to nineteen forty four to 0:04:38.120 --> 0:04:40.720 Breton Woods Agreement. Now this went after World War two, 0:04:40.800 --> 0:04:42.479 world War one, and the World War two. After World 0:04:42.480 --> 0:04:46.000 War two, ninety forty four, the world got together and 0:04:46.040 --> 0:04:49.120 created what's known as the IMF International Monetary Fund, and 0:04:49.160 --> 0:04:53.919 they declared from on high, this is the new reserve 0:04:53.960 --> 0:04:55.400 currency of the world. And the way it worked is 0:04:55.400 --> 0:04:57.359 that the dollar would be pegged a gold so you 0:04:57.360 --> 0:05:00.359 would be able to exchange thirty five US dollars for 0:05:00.560 --> 0:05:03.280 one ounce of gold. It was always convertible, and so 0:05:03.320 --> 0:05:06.679 the dollar was a proxy. It was an IOU claim 0:05:06.800 --> 0:05:10.080 it was backed by gold, and then all the currencies 0:05:10.080 --> 0:05:13.480 of the world would peg to the dollar. Well most 0:05:13.520 --> 0:05:15.320 of the really, all the currencies of the world are 0:05:15.320 --> 0:05:18.080 still pegged to the dollar, except for the dollars, not 0:05:18.080 --> 0:05:20.800 pegged to gold anymore. So when you hear things you 0:05:20.839 --> 0:05:23.359 know you'll hear about like with bitcoin, for example, what's 0:05:23.360 --> 0:05:27.080 it backed by? Well, only debt has to be backed 0:05:27.120 --> 0:05:31.279 by something. The dollar was debt, it was redeemable that debt. 0:05:31.279 --> 0:05:35.160 It was a debt certificate, an IOU, a promissory note 0:05:35.279 --> 0:05:37.880 that I could go redeem it for the specie the 0:05:38.000 --> 0:05:40.680 gold that's back there. And so the dollar was debt, 0:05:40.680 --> 0:05:43.400 it was backed by gold. Today the dollars backed by nothing. 0:05:43.480 --> 0:05:45.440 So when they say what's bitcoin backed by it's not 0:05:45.440 --> 0:05:49.080 backed by anything. Only debt is backed by something. What 0:05:49.279 --> 0:05:53.200 is gold backed by? What is oil backed by nothing? 0:05:53.360 --> 0:05:56.120 The oil is what oil is, right, Okay, So anyway, 0:05:56.320 --> 0:06:00.200 that kind of sums it up. Now, the dollar took 0:06:00.200 --> 0:06:02.440 over the reserve currency of the status of the world, 0:06:02.440 --> 0:06:06.200 that it was backed by gold. Then what happened is 0:06:06.279 --> 0:06:09.359 they started the United States started printing way too many dollars, 0:06:10.120 --> 0:06:13.040 and the dollars weren't actually backed by all the gold, 0:06:13.120 --> 0:06:16.760 and people knew this. Everybody knew this. Americans were not 0:06:16.880 --> 0:06:19.600 allowed to go buy gold. In nineteen thirty three it 0:06:19.680 --> 0:06:22.560 was made illegal as all the gold of Americans owned 0:06:22.600 --> 0:06:24.480 was seized, was stolen, and then it was made illegal. 0:06:24.640 --> 0:06:27.800 Americans couldn't own gold not until nineteen seventy five. In 0:06:27.920 --> 0:06:31.239 nineteen seventy one, all these nations around the world were like, hey, America, 0:06:31.279 --> 0:06:33.120 we know what you're doing. This is the jig is 0:06:33.200 --> 0:06:34.640 up here, Like, we know what you're doing. You printedway 0:06:34.640 --> 0:06:37.520 two many dollars. We don't want these fake paper goal certificates. 0:06:37.760 --> 0:06:40.280 We want the gold. So the US was trying to 0:06:40.320 --> 0:06:43.240 defend it, trying to pretend like that wasn't the case. 0:06:43.360 --> 0:06:45.159 So they're giving up all the gold, giving up all 0:06:45.200 --> 0:06:47.479 the gold, given up all the gold. Finally the gold's 0:06:47.520 --> 0:06:49.560 running out, which we still don't know how much gold 0:06:49.640 --> 0:06:51.599 is left today because of course they won't do an audit. 0:06:52.320 --> 0:06:54.000 And as I say all the time, the best way 0:06:54.040 --> 0:06:57.400 you stop rampant speculation, or as they like to call it, 0:06:57.880 --> 0:07:01.400 conspiracy theory, is just with transparence. They could just do 0:07:01.440 --> 0:07:03.559 an audit of the gold, but of course they won't, 0:07:03.800 --> 0:07:06.000 which then makes you think that they don't have the gold. 0:07:06.760 --> 0:07:09.160 They would just say they had it. They tell us 0:07:09.160 --> 0:07:12.960 how much they have, so then prove it. It's not 0:07:12.960 --> 0:07:14.400 like they're trying to keep it a secret. They tell 0:07:14.480 --> 0:07:16.320 us how much they have, then prove it, But of 0:07:16.320 --> 0:07:19.920 course they won't, so the rumors obviously a wild speculation. 0:07:20.120 --> 0:07:22.200 I think they don't have the gold because of the 0:07:22.200 --> 0:07:23.720 way the story goes, and so they were given up 0:07:23.720 --> 0:07:26.120 the gold, given the gold trying to defend that peg. Finally, 0:07:26.560 --> 0:07:30.000 France sends over the warships to collect the gold, and 0:07:30.320 --> 0:07:33.760 Ard Richard Nixon President Richard Nix nineteen seventy one says, no, 0:07:33.760 --> 0:07:38.040 no more gold, all right. So the US defaulted, went bankrupt, 0:07:38.120 --> 0:07:41.560 wooden pits debts. Then how does the US keep its 0:07:41.600 --> 0:07:45.520 reserve currency status in the world. Well, it went into 0:07:45.640 --> 0:07:48.360 something else backing it, and that was known as oil 0:07:48.520 --> 0:07:50.880 or energy, and so we have the birth of the 0:07:50.920 --> 0:07:53.480 petro dollars started in nineteen seventy four. Is the very 0:07:53.560 --> 0:07:55.600 key piece of the story because the United States went 0:07:55.600 --> 0:07:58.920 to Saudi Arabia, which was the oil kingpin of the world, 0:07:58.920 --> 0:08:02.360 and said, hey, if you price all the oil in 0:08:02.640 --> 0:08:06.560 dollars that means dollars now backed by oil, then we 0:08:06.600 --> 0:08:10.800 will always protect you. So now we've entered the security Agreement, 0:08:10.840 --> 0:08:12.880 we got their back, which of course is why when 0:08:12.880 --> 0:08:15.480 the whole World Trade Center bombings happened, Saudi Arabia got 0:08:15.520 --> 0:08:17.920 all this special treatment by President George bullsh at the time. 0:08:18.520 --> 0:08:21.840 But that's a whole other story. But basically it was 0:08:21.840 --> 0:08:23.560 backed by the petrol dollar. Now, the reason why I'm 0:08:23.600 --> 0:08:27.280 telling you that is because the dollars status as the 0:08:27.320 --> 0:08:31.760 reserve currency of the world is now threatened by everybody, 0:08:32.240 --> 0:08:37.000 and specifically Saudi Arabia, which entered this agreement in nineteen 0:08:37.000 --> 0:08:39.480 seventy four to price all the oil to sell all 0:08:39.480 --> 0:08:42.840 the oil in dollars, is now agreed to sell oil 0:08:43.679 --> 0:08:48.120 in Chinese yu won. So the era that we've known 0:08:48.360 --> 0:08:50.559 is over. So what does that mean. What's going to 0:08:50.600 --> 0:08:52.640 happen to your purchasing power, What's gonna happen in nice days, 0:08:52.640 --> 0:08:54.640 What's gonna happen in the world. All these questions about 0:08:54.720 --> 0:08:56.440 I'm going to answer all of those as we continue 0:08:56.440 --> 0:08:58.280 to break this down. If you just tune in, you're 0:08:58.320 --> 0:09:00.240 listening to the Mark Mos Show. Of course, we talk 0:09:00.280 --> 0:09:02.960 about the way the world is breaking apart, the decentralized revolution, 0:09:03.720 --> 0:09:06.559 and we look at it through politics, finance, and technology, 0:09:08.440 --> 0:09:10.240 and it's always technology that changes the world. But right 0:09:10.240 --> 0:09:12.320 now we're talking about the financial piece. Like I said, 0:09:12.480 --> 0:09:15.160 so much to cover here, I want to put your 0:09:15.240 --> 0:09:16.960 mind at ease, and I'm going to give you some 0:09:17.000 --> 0:09:19.880 practical tips that you can do to protect yourself as 0:09:19.920 --> 0:09:22.240 this continues to unfold, because it's not going away. So 0:09:22.280 --> 0:09:24.079 I got a whole lot to cover this hour when 0:09:24.080 --> 0:09:25.360 I come back. You don't want to miss this, don't 0:09:25.360 --> 0:09:27.240 go away. I'm gonna take a quick break and I'll 0:09:27.280 --> 0:09:32.720 be right back. All right, Welcome back. If you just 0:09:32.720 --> 0:09:35.040 tune in, you're listening to the Markmas Show. We're talking 0:09:35.120 --> 0:09:38.880 about the dollar losing its reserve status in the world. 0:09:39.200 --> 0:09:42.120 What does that mean? Losing its reserve status in the world. 0:09:42.600 --> 0:09:44.160 Like I said, I got phone calls from a few 0:09:44.200 --> 0:09:46.800 people last night asking me what the heck is going on? 0:09:47.840 --> 0:09:50.079 What are we doing? So as I kind of framed 0:09:50.120 --> 0:09:52.600 it up before, kind of walked you through the history here, 0:09:52.840 --> 0:09:55.439 and the United States has maintained its reserve currency status 0:09:55.440 --> 0:09:59.480 of the world because the petro dollar, Saudi Arabia, etc. Now, 0:09:59.600 --> 0:10:03.520 we I've been talking about this quite extensively, and I 0:10:03.559 --> 0:10:06.520 actually just tweeted this a little while ago. If you're 0:10:06.520 --> 0:10:09.319 not following me on Twitter, you should, so you can 0:10:09.360 --> 0:10:12.280 find me on Twitter at one Mark Moss. That's just 0:10:12.320 --> 0:10:15.360 the number one at number one Mark Moss. And I 0:10:15.400 --> 0:10:19.160 tweeted this out earlier and I said, if you have 0:10:19.200 --> 0:10:22.480 a party and then you start kicking people out of 0:10:22.480 --> 0:10:27.240 the party. Eventually they go start their own party, and 0:10:27.280 --> 0:10:30.760 then you have no control over what they're doing because 0:10:30.760 --> 0:10:34.720 they're at their own party and you're not invited. And 0:10:34.760 --> 0:10:36.680 so that's basically what's happened. The dollar has been the 0:10:36.679 --> 0:10:39.400 reserve currency of the world, and we control that money 0:10:39.440 --> 0:10:42.320 through the swift system, etc. And how the way the 0:10:42.320 --> 0:10:44.720 money has moved around the financial system, and what the 0:10:44.800 --> 0:10:48.000 US has done as is continue to weaponize the dollar. 0:10:48.080 --> 0:10:49.560 If you don't do something we don't if you do 0:10:49.600 --> 0:10:53.880 something we don't like, then we penalize you financially, financial 0:10:53.920 --> 0:10:57.800 sanctions that could be in the form of penalties and 0:10:57.920 --> 0:11:00.480 fines and things like that all the way to you're 0:11:00.520 --> 0:11:02.440 just completely kicked out of the financial system and you 0:11:02.440 --> 0:11:05.640 don't even get it used anymore. And that's exactly what's happening. 0:11:05.800 --> 0:11:10.480 What we can see sanctions being used as a US 0:11:10.480 --> 0:11:13.400 policy tool has been growing. As a matter of fact, 0:11:13.400 --> 0:11:15.000 if we go back, I'm looking at a chart here 0:11:15.240 --> 0:11:17.680 from two thousand and two, we can see under the 0:11:17.679 --> 0:11:22.559 Bush administration we had a very few sanctions. It started 0:11:22.600 --> 0:11:24.400 to be, like I said, the go to policy tool, 0:11:24.920 --> 0:11:30.400 but it's only started escalating through Obama, it got higher. 0:11:30.559 --> 0:11:34.600 Through Trump, it got even higher, and under Biden it 0:11:34.679 --> 0:11:37.360 has gone through the roof like a hockey stick we 0:11:37.480 --> 0:11:39.880 call that, or like a parabolic run. And so what 0:11:39.920 --> 0:11:42.360 we can see is that the US is accelerating this 0:11:42.600 --> 0:11:45.720 d dollarization. So the dollars the reserve currency of the world, 0:11:45.960 --> 0:11:49.200 and they're de dollarizing and or forcing people to not 0:11:49.679 --> 0:11:53.240 use this reserve currency of the world by issuing these 0:11:53.559 --> 0:11:57.839 more than ten thousand unilateral sanctions on foreign entities. And 0:11:57.880 --> 0:12:02.400 that's just over the last two decades, ten thousand unilateral sanctions. 0:12:02.400 --> 0:12:04.280 And so again back to what I tweeted, if you 0:12:04.360 --> 0:12:06.120 kick enough people out of the party, then they just 0:12:06.160 --> 0:12:09.880 go start their own party. When you take away people's ability, 0:12:10.040 --> 0:12:14.640 nation's ability to transact in the dollar denominated global financial system, 0:12:14.840 --> 0:12:16.920 what happens? Do they die? Do they just go away 0:12:16.920 --> 0:12:18.880 and just crawl in a hole and die. No, they 0:12:18.920 --> 0:12:22.800 just find another way to do trade. Obviously, it seems 0:12:22.840 --> 0:12:25.400 so obvious that even a caveman could get it, so 0:12:25.440 --> 0:12:27.160 they so to speak. So a couple of things I 0:12:27.200 --> 0:12:30.839 want to break down here, all right, So, first of all, 0:12:31.840 --> 0:12:38.400 there's a difference between global reserve currency and global reserve 0:12:38.640 --> 0:12:41.599 asset well, this is a very big distinction that a 0:12:41.640 --> 0:12:44.000 lot of people don't seem to understand. So what am 0:12:44.000 --> 0:12:47.160 I talking about? So the dollar is what we use 0:12:47.200 --> 0:12:49.560 as a currency. It's a medium exchange. We use that 0:12:49.600 --> 0:12:54.800 to pay for things. We don't store our money, our 0:12:54.880 --> 0:12:57.720 life savings in dollars. Most people don't, and if you do, 0:12:57.760 --> 0:13:01.720 you probably shouldn't, especially when you're a sovereign wealth fund 0:13:01.840 --> 0:13:04.280 or a sovereign nation where you have hundreds of billions 0:13:04.400 --> 0:13:07.200 or even trillions of dollars, you can't. You don't hold 0:13:07.240 --> 0:13:10.640 that in currency. You hold it in a reserve asset, 0:13:10.760 --> 0:13:13.880 in an asset. So even for me and hopefully for you, 0:13:14.440 --> 0:13:18.000 I don't store all my wealth in dollars. I hold 0:13:18.000 --> 0:13:20.280 them in assets. I hold them in real estate, I 0:13:20.360 --> 0:13:22.040 hold them in gold, I hold them in bitcoin, I 0:13:22.080 --> 0:13:24.920 hold them in some stocks. Right, those are assets. So 0:13:24.960 --> 0:13:27.480 what are you reserving your wealth in? What assets? And 0:13:27.559 --> 0:13:29.280 so to think about nations, So they're not holding it 0:13:29.320 --> 0:13:33.319 in dollars, holding in assets. Now, those assets have typically been, 0:13:33.679 --> 0:13:36.760 for the last fifty years or so, have been US treasuries. 0:13:38.080 --> 0:13:41.800 The US treasuries those that's debt, that's bonds, okay, and 0:13:41.880 --> 0:13:45.440 that has been the reserve asset. Now what we're seeing 0:13:45.800 --> 0:13:49.320 is all this talk happening about now, Oh my gosh, 0:13:49.360 --> 0:13:50.800 Like I said, I got these phone calls last night 0:13:50.880 --> 0:13:53.320 from one of my buddies saying, I see all this talk. 0:13:53.640 --> 0:13:56.800 Now oil is going to be sold in Yuan okay. 0:13:56.840 --> 0:13:59.559 So now we see the bricks nations Brazil, Russia, into 0:13:59.600 --> 0:14:05.520 the China, South America, now Saudi Arabia, potentially all of 0:14:05.559 --> 0:14:09.960 these countries, these bricks nations, this block now trading back 0:14:09.960 --> 0:14:14.360 and forth outside of the dollar. They're trading in yuan okay. 0:14:14.679 --> 0:14:18.280 So that's the currency side. But what are they using 0:14:18.360 --> 0:14:21.000 as their reserve asset? That is the key piece here. 0:14:21.120 --> 0:14:23.640 Now you know that I like to talk about bitcoin. 0:14:23.720 --> 0:14:26.800 I spent a long time writing about cryptocurrencies, and in 0:14:26.880 --> 0:14:29.760 cryptocurrencies you have something called token omics, and that is 0:14:29.760 --> 0:14:32.760 all these cryptocurrencies created their own tokens. They're basically like currencies. 0:14:33.520 --> 0:14:35.400 Now they have to they have to come up with 0:14:35.480 --> 0:14:38.080 some sort of a plan to figure out to kind 0:14:38.080 --> 0:14:40.520 of game the system to get that token to be 0:14:40.560 --> 0:14:44.880 worth something. The most used token in the history of 0:14:44.880 --> 0:14:47.480 the world doesn't mean it has any value, So that 0:14:47.480 --> 0:14:48.640 have to figure out a way to do that. So 0:14:48.720 --> 0:14:50.680 like chuck E cheese, for example, a lot of people 0:14:50.760 --> 0:14:54.320 use chuck e cheese tokens. Doesn't have any value though. 0:14:54.440 --> 0:14:57.680 Nobody stores their wealth in chuck e cheese tokens. And 0:14:57.720 --> 0:15:00.360 so these tokens, they would practice what's called token They 0:15:00.360 --> 0:15:02.080 have to figure out a way to get someone to 0:15:02.160 --> 0:15:05.200 actually save them, to pull them out of the system. 0:15:05.240 --> 0:15:08.720 So with bitcoin, they say bitcoin's a reserve asset, it's 0:15:08.760 --> 0:15:11.960 a store of value. So bitcoin isn't being used as 0:15:12.000 --> 0:15:15.280 a currency. People are saving it, they're hoarding it, they're 0:15:15.320 --> 0:15:20.480 storing it, and so what all these I think there's 0:15:20.560 --> 0:15:25.920 somewhere between twelve to fifteen percent of bitcoin. So just 0:15:25.960 --> 0:15:27.680 so you don't know, there's about twenty There will never 0:15:27.720 --> 0:15:30.200 be more than twenty one million bitcoin, never more than 0:15:30.240 --> 0:15:34.360 twenty one million. There's about roughly about nineteen million in 0:15:34.720 --> 0:15:37.080 circulation today. The rest will be coming over the next 0:15:37.160 --> 0:15:41.520 hundred years. Of those nineteen million, only between twelve to 0:15:41.600 --> 0:15:46.040 fifteen percent are actively being traded like for sale. The 0:15:46.160 --> 0:15:49.560 rest are put away in long term storage. Because that's 0:15:49.560 --> 0:15:53.240 been put away in long term storage, there's demand there 0:15:53.880 --> 0:15:57.040 and it makes the circulating supply worth more. The scarcity. 0:15:57.120 --> 0:15:59.880 So all these other cryptocurrencies have tried to game the system. 0:16:00.080 --> 0:16:03.400 Nobody wants to save them or store those cryptocurrencies, so 0:16:03.440 --> 0:16:05.960 they game it. They'll do something called staking. Hey, if 0:16:06.000 --> 0:16:08.360 you if you lock these up and put them away, 0:16:08.360 --> 0:16:10.280 we're gonna inflate it and we'll give you a piece 0:16:10.320 --> 0:16:12.480 of it. So think of it like that. So we 0:16:12.480 --> 0:16:15.560 have the dollar being used as this currency, but it's 0:16:15.600 --> 0:16:18.440 the treasuries that people are holding their money and that's 0:16:18.520 --> 0:16:21.120 giving it this value. So when you hear about Saudi 0:16:21.160 --> 0:16:24.800 Arabia and all these people trading in another currency you want, 0:16:25.200 --> 0:16:28.960 it doesn't really matter what are they saving in. Well, 0:16:29.000 --> 0:16:32.240 they're still buying US treasuries. No one's saving their money 0:16:32.320 --> 0:16:36.040 in Chinese debt or bonds, or Russian debt or bonds. 0:16:36.280 --> 0:16:37.840 They don't have the financial market to back it up. 0:16:37.840 --> 0:16:40.360 They don't have the open, open liquidity markets. They don't 0:16:40.360 --> 0:16:43.360 want them. They don't want them, they don't have them, 0:16:43.440 --> 0:16:46.080 and they're not they're not built up that way. Now. 0:16:46.120 --> 0:16:49.200 What we're seeing, though, is something to be concerned with. 0:16:49.240 --> 0:16:52.000 I tweeted this out again today as well. And what 0:16:52.040 --> 0:16:55.760 we do have is if you think about we have 0:16:58.080 --> 0:17:01.240 periods where the dollar, the dollar has been this reserve asset, 0:17:02.240 --> 0:17:04.879 reserve currency, and gold was the reserve asset. In nineteen 0:17:04.880 --> 0:17:07.119 seventy one, the gold got swiped out and it was 0:17:07.280 --> 0:17:10.439 US treasuries being the reserve asset. But what we can 0:17:10.520 --> 0:17:14.560 see since two thousand and twenty one, really since twenty fourteen. 0:17:15.320 --> 0:17:18.919 In twenty fourteen, China came out and made actually it 0:17:18.920 --> 0:17:20.679 was twenty thirteen, China came out and made a statement. 0:17:20.720 --> 0:17:24.840 The PBOC People's Bank of China said quote, no longer 0:17:25.000 --> 0:17:28.639 in China's interest to grow our foreign currency reserves. So 0:17:28.680 --> 0:17:31.320 they said that in twenty thirteen, so they announced they 0:17:31.359 --> 0:17:34.200 were going to start de dollarizing. Russia and China both did. 0:17:34.760 --> 0:17:38.080 And so what we see since twenty thirteen, the amount 0:17:38.080 --> 0:17:41.920 of US treasuries being purchased by foreign governments has been 0:17:41.920 --> 0:17:46.320 going down, while the amount of gold being purchased has 0:17:46.359 --> 0:17:50.480 been going up. So the dollars still a reserve currency currency. 0:17:51.320 --> 0:17:56.560 The yuwan can be also a major currency. But what 0:17:56.600 --> 0:17:58.440 are they saving in and what we can see since 0:17:58.440 --> 0:18:01.800 twenty thirteen, the amount of savings in dollars US treasury 0:18:01.880 --> 0:18:03.640 is going down and gold is going up. So that's 0:18:03.640 --> 0:18:07.040 a big difference. Now back to some other concerns, well 0:18:07.280 --> 0:18:08.720 before I got to take a quick break, I'll come 0:18:08.720 --> 0:18:10.400 back and give you those concerns. I'll be right back. 0:18:12.920 --> 0:18:14.480 All right, welcome back. If you just tune in, you're 0:18:14.480 --> 0:18:17.680 listening to the Mark Moss Show. We're talking about the 0:18:17.880 --> 0:18:21.360 global reserve currency going away. Everybody's scared about it. What's 0:18:21.359 --> 0:18:24.560 going on. So I was breaking it down history lesson 0:18:24.560 --> 0:18:26.720 to kind of build that base for you. So anyway 0:18:26.720 --> 0:18:28.199 back to some of these phone calls that I've got 0:18:28.240 --> 0:18:30.280 to explained to you that it is under attack. Yes, 0:18:30.320 --> 0:18:33.119 the bricks nations have formed these alliances. Yes, Putin and 0:18:33.160 --> 0:18:37.280 g are testing the US and trying to trade for 0:18:37.359 --> 0:18:39.960 all these commodities oil outside of the dollar. But so 0:18:40.160 --> 0:18:43.919 what so I kind of broke that down, the difference 0:18:43.960 --> 0:18:48.000 of the reserve currency versus the reserve asset. Now. So 0:18:48.119 --> 0:18:50.359 one of my friends he called me last night and 0:18:50.359 --> 0:18:52.520 he said, he, Mark, I see all this talk about 0:18:52.560 --> 0:18:55.200 this and what's going to happen. I'm afraid that I'm 0:18:55.200 --> 0:18:58.240 gonna wake up one day and my dollars are gonna 0:18:58.240 --> 0:19:01.040 buy me half as much good as they buy me. Now, 0:19:02.600 --> 0:19:05.280 the value of my dollars will drop in half. That's 0:19:05.280 --> 0:19:07.440 what he's afraid of. What should I do with my dollars? 0:19:07.480 --> 0:19:09.760 What should I do with my money, my money in 0:19:09.800 --> 0:19:12.000 the bank, my savings. I'm afraid I'm gonna wake up 0:19:12.040 --> 0:19:14.160 one day and it's gonna buy me half as much. 0:19:15.640 --> 0:19:18.760 And I said something that shocked him and it probably 0:19:18.800 --> 0:19:23.240 shocked you as well. And what that was is, I said, so, 0:19:23.480 --> 0:19:25.800 let me get this straight. You're afraid that you're gonna 0:19:25.840 --> 0:19:27.359 wake up one day and your dollars are going to 0:19:27.400 --> 0:19:30.679 buy you half as much goods? Right? He said yeah. 0:19:31.280 --> 0:19:36.520 I said, well, since two nineteen, your dollars already do 0:19:36.640 --> 0:19:39.200 buy you half as much goods. And he's like, what 0:19:39.520 --> 0:19:42.920 do you mean? So I said, well, how much is 0:19:42.920 --> 0:19:46.800 your home worth today? He said four million dollars? I 0:19:46.840 --> 0:19:49.320 said how much was your house worth five years ago? 0:19:49.920 --> 0:19:54.399 He said one point seven million. So your dollars buy 0:19:54.440 --> 0:19:58.560 you about forty percent of the house that it would 0:19:58.560 --> 0:20:01.840 have bought you five years ago. Your dollars already do 0:20:02.000 --> 0:20:04.520 buy you fifty percent less. As a matter of fact, 0:20:04.520 --> 0:20:05.560 if we take a look at a couple of just 0:20:05.640 --> 0:20:08.119 metrics so we can see this, we can see since 0:20:08.359 --> 0:20:13.560 January of twenty nineteen, the dollar has lost sixty percent 0:20:14.119 --> 0:20:17.640 to the S and P five index. All right, So 0:20:18.200 --> 0:20:21.879 does that makes sense when the when the stocks go up, 0:20:21.920 --> 0:20:24.719 it's it's not stocks going up, it's the value of 0:20:24.720 --> 0:20:28.000 your dollars going down. Why are the value of dollars 0:20:28.040 --> 0:20:32.120 going down? Well, because the US government, the Fed, the Treasury, etc. 0:20:32.720 --> 0:20:37.200 Have increased the money supply buy about forty percent in 0:20:37.240 --> 0:20:41.400 that time period. When you hear about all this money printing, 0:20:41.440 --> 0:20:44.280 you know, all these new acts, the Inflation Reduction Act 0:20:44.320 --> 0:20:46.679 and all these things. Even now they're belling oft the banks. 0:20:47.520 --> 0:20:49.520 They have to create that money. It's the conjure from 0:20:49.520 --> 0:20:52.480 the air. As they create more money, it makes all 0:20:52.480 --> 0:20:57.440 the existing units of money worth less. It's theft. So 0:20:57.960 --> 0:21:00.320