$40 Trillion Later: Is the U.S. Dollar Empire Finally Breaking? | Silk and Steel

**Rasheed** (0:00)
Your brother and your friend, Rasheed, and I'd like to thank you for joining me on another episode of this platform with my co-host and friend, Carl Zha. How's it going today, Carl?

**Carl Zha** (0:10)
Hey, how are you, Rasheed?

**Rasheed** (0:12)
I'm doing pretty good, Carl. I'm working on a lot of things, trying to get some stuff done in the background. We're experiencing, right now, we're experiencing some really bad weather over, that's a bad thunder and lightning storm front that's coming through the area. So, I want to just inform you of that right now. And if the power glitches out, if I go out, it may not be the powers that be at this time, it may just be the grand power that takes us off the air. So Carl, I want to bring your attention to something real quick. Lately, the United States has just passed $40 trillion. I do research, I put it in the Google search engine, I've done it all.
$40 trillion is a catamount to land money from Earth all the way to Pluto, which is 3 billion miles away from Earth.
How in the world can the US sustain this and at the same time sustain her chaos, disorder and war?

**Carl Zha** (1:12)
Well, traditionally, this was done because US dollar is a world reserve currency. So what happened is when US government prints money, it's not just Americans who will take that money to make purchase. It's also everybody around the world because there was a great demand for the dollar in the world market. Because back in the 70s, Kissinger and Nixon, they went to Saudi Arabia, they work out the deal called the Petrodollar, which makes the oil get pricing the US dollars. Now, everybody needs oil. So everybody needs US dollar to make purchase of oil. And he also made it very convenient just for everyone to have their saving in US dollars because everybody accept US dollars. Now, that made sure, ensure the US dollar hegemony. What happened is the US government realized, hey, we have a weapon. We have a very powerful weapon when everybody needs our dollars. So not only we can continue to print money to pay off our debt, that everybody will just take our money, but now we can decide to kick off people off the dollar system, the people that we don't like. You know, this is, they first perfected their financial weapon on North Korea, actually this back in early 2000
United States decided to put financial sanction on Korea, specifically, they targeted a Chinese bank in Macau that was doing business with North Korea. Now with that, they expanded that to other countries that State Department doesn't like, which is Iran. And now with the Ukraine war, Russia, that was real big one, the kick of Russia off the Swift system. What happened when US start to weaponizing its dollar hegemony is whereas before, everybody except dollar because ease of use because everyone else except dollars. And there was an existing system for settling or pay trade payment settlement. Now people realize, oh, wait a minute. Using dollar is actually not an asset. It's a liability. The liability is a part where Treasury Department says, we're going to freeze your bank account. We'll make sure you cannot no longer access the dollar system. And of course, that's engineered to cause economic collapse. But that didn't happen because North Korea is still standing, Iran is still standing, Russia is still standing. What happened is these countries start to find alternatives. China have offered their SIP system to settle trade settlement in RMB. It became an alternative to the SWIFT system. That's what Russia has switched to. So it turns out the weaponization of dollar didn't play out the way that US intended. What they actually did is accelerate the trend of de-dollarization all around the world. People realize they have to make up, make Plan B.
You can't always count on using US dollars. So that caused a problem because if your money is no longer the world reserve currency, then you're going to face the same problem with every other country who print money. You're going to run into inflation. You will devalue your currency.
Now, Scott Besson, our Treasury Secretary, he knows all about this because he made his career as a currency manipulator.
When he was working for George Soros, they attacked the British Pound because they saw opportunity to make money. And then later during the 1997, 1998, Asian currency financial, during the Asian currency crisis, Scott Besson saw opportunity again to short the Hong Kong dollar. But what he didn't count on was in 1997, Hong Kong had a new landlord, the People's Republic of China. And the Chinese government told the Bank of Hong Kong, defend the Hong Kong dollar at all costs, and we got your back. And because of that, Scott Besson lost his shirt on that bet. So he always have a private grudge against China because of that.