“The train’s on the track” for a U.S. strategy to counter China-led de-dollarization, reveals Professor Steve Hanke. In this exclusive interview with Daniela Cambone, Hanke, who is actively in the room with the White House and Treasury, details the “serious strategy that’s being thought through and developed.” He cautions that it’s a ‘pretty heavy-duty lift’ focused on a ‘pro-dollarization movement,’ but identifies one pivotal nation where success would trigger a geopolitical domino effect, making it essentially ‘game over. The U.S. won.'”
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42 Comments
So Argentina bail out by U.S was to dollarize them. Rest of South America will join, and support US dollar with their resources, I assume? So it will be like Euro for North and South America.
Please tell Steve Hanke to continue his Zimbabwe real time inflation juxtaposed to US real time inflation 😂
In history, all fiat currencies have failed….you can muck with the usd all you want by digitizing it but it's just turd polishing.
27:00 with stable coins you don’t need a bank and you can still pay someone directly without having cash or check and it’s instantaneous.
Why cant the USA get rid of the Fed and institute its own currency board based on tokenized gold? No need for central banks and stable coins.
so funny, Daniela, you are such a product of the "times"…stop the shutdown, cause it's a huge inconvenience for ME!!! Maybe there's a vaccine Pharma could offer against things like government shutdowns, haha
Professor Hanke ❤❤❤❤
My main take aways from this conversation? The U.S. financial system/capitalism is in soooo much trouble, that the administration . .
A) Has to actually pay Argentina to 'please' accept more of our currency (for trade & etc)–since BRIC's dumped it, and
B) The U.S. is actively seeking other nations that are willing to do the same, in order to try and keep the dollar afloat. 😢
Daniela, the advantage of the Genius act is to help the masses outside of the United States to save in dollars, and basically bank and transact in dollars. It does little to nothing for citizens of the United States. At least that’s how I’m understanding the effects of the Genius act upon people. Of course, it does help the U.S. government fund their debt at lower interest rates.
Don't bring Hanke and his golden growth rate back Daniela. His arrogance is befuddled by stupidity.
Did you ever notice these grifters never retire? Schemers until the end.
Fantasy. No country in the world sees America as a reliable partner anymore, even Canada. America can not be trusted when if you sign a deal America five minutes later decides to change the deal. The American empire is over.
"trump's genius " is this a comedy podcast or what?
It is not China that is eroding the US dollar. It is the US's policies that's causing the erosion.
Here's a crazy thought… maybe don't provide your expertise to the US's main adversary to make things harder on your own country. I know.,. crazy right? Why are academics such morons.
Point of the "Genius Act"?
Can you imagine if the private companies that distribute the "Stable Coins" made a 🌍🌎 APP? Citizens of all third 🌎 🌍 countries would exchange their own currencies for "Stable Coins". Most Central 🏦 may not exist in it's current form.
People in 🇺🇲 would probably use "Stable Coins", because their would be no "interchange fees" like the banks. So the fees to merchants would be low to none, saving customers 4-5% mark-up due to 💳.
🏧 Maybe none existent, due to most people just using their 📱.
Many 🏦 could consolidate.
Hopefully no more FED to regulate interest rates (floating). The FED may just turn into a regular 🏦.
*Stable Coins = 🇺🇲 private digital tokenized💲
Would the existence of BTC put a cap on gold’s price increases (to $6k?) this time around?
Gold 29:00
Would the Genius Act push crypto prices higher?
How can anti-Dollarization attempts be compatible w/ the pursuit of a weaker USD (by the administration)?
Genius Act starts at 22:35
Millei is 🇮🇱 🤡
24 books on Dollarization?! 😱
Why no Timestamps?
If it walks like a duck, quacks like a duck, whatever color, it’s still a duck. If the duck of any color debases, what’s the difference? So Genius Act and Stable Coin is all smoke and mirrors or smoked duck!
This is just a dark view to that past, history of his failures in economics.
Any country wants to back its own currency with the currency of another that has a 38 trillion dollar debt and an off balance sheet debt of four times that much?😂
They need to hand out more nobel peace prizes to janitors in south america and put them in power first.
Trump will go down in history as "Bullshit Trump on Lying Social".
Daniela , the implication of stable coins is to devalue our 35 T debt .. simple as that . Remember , stable coin 🪙 must be linked to us treasury bonds .. once the demand for stable coin 🪙 ( digital dollars ) becomes rampant then the need for treasury us bond goes up then the 10 years yield comes down …
Around 35:00, professor Hanke means well, but suggesting legislation to constrain government and central banks. However, he is naive and fails to understand such legislation already exists. Repealing gold and silver coin as the only legal tender (at the very least that states can use) already exists and has never been amended in the constitution. FDR executive order, Nixon 1971 closing the gold window, bank credit, these all are crimes under that article. Legislation without enforcement, particularly against the higher ups is meaningless.
How do you expect dolarazation target countries to accept a dollar with more than 37 T debt weighing on its back, while exposing themeselves to sanctions , freezing of assets, and military invasion. Secondly, the production of real goods and services that countries needs at a cost effective price are not in The US, but in countries that are dedolarising, thus, making the dollar a thin air for all those who hold it.or have commited themselves to use it voluntarely or otherwise.
Bitcoin gors to 170.000 dollar?
Yes because the dollar will be inflated.
THINK !
Who wants to have Dollars or Euro's.
They are doomed for trade 😂😂😂
Ha-ha, Trump, and genius in the same sentence, or like Trump and his administration with the truth, it is like Super Power to Super JOKE.
Just watch him stammering all the time. Body and speech (behavioral) aspects clearly indicates lying.
Genius act was to prevent USDT and USDC holders were receiving returns better than government bonds . So the genius act prevents them from doing that . The USDT and CBDC are requesting to be banks and follow the rule of giving priority based on the interest rate and can never exceed government bonds !
Diana let me explain the logic behind Stable coins and genius act.
Assume a scenario where private corporations and business groups (aka deep state) would like an exit from USA. How do they do it without US Dollars? Deep state wants out but they have only 2 options. Find another host currency or basket of currencies where they can re-industrialise and invest and then exit USA. Why would they like to exit USA? Well because the family structure is broken and not enough workers are going to be born in future. Resources are a plenty but they can be traded and manipulated like it was happening since forever. So US may seek resources and religion, Deep State wants exit from USD and free trade.
US Gov to do so will go back to gold standard. On the other hand Deep State wants a private currency they can use as medium of exchange not linked to Gold like US Dollars will be.
So they came up with Bitcoin first to engage public. Then they come with Stablecoin that is a regulated version of Bitcoin backed by US treasury atleast partially which means its eventually linked to Gold (partially) but regulation and co trol remains private.
Now the issue is dollarising countries that are US allies are going to be forced to adopt stablecoins and bitcoins.
While Brics will come up with Brics Unit (Backed by Gold and Silver and other resources)
Eventually all countries and entities including the deep state and US gov have to accept defeat
So the world bails out the US, by being forced to buy Trump stable coin. They are investing in US treasuries, but getting no interest on those. So just another economic scam forced on the rest of the world by the US. So the US can live beyond it's means, and keep that war machine running.
Youd have to be an absulute idiot to agree to change your current to USD.
Wow this guy can speak absolute crap.
I smell bullshit. How doe going to US dollars get you out of debt and prevent you from going into debt.
Mark carney in Canada has started talking about stable coin. So I'm wondering how bad he is planning to fuc* Canada. Its bad enough with this tarrif bullsh *t , so NO I don't trust the Americans.