Elite US economist warns: dollar system is weakening as gold BRICS rise

The US dollar is gradually losing its dominance, and foreign central banks are buying fewer Treasury securities, instead holding more gold in their reserves, warns Mohamed El-Erian, a mainstream American economist. Ben Norton discusses how countries are seeking financial alternatives, especially Global South nations around BRICS.

Topics
0:00 Western media cope on de-dollarization
2:53 Renowned US economist warns de-dollarization is happening
4:55 Gold price rises despite inflation falling
7:18 BRICS seeks alternatives to US dollar dominance
9:04 Sanctions, reserves freezes, weaponization of US dollar system
11:23 Holding gold in reserves is not bringing back gold standard
13:08 Central banks buy lots of gold
14:40 West's economic war on Russia failed
15:34 US-Israel wars in Middle East (West Asia)
17:18 "Erosion" of US dollar hegemony
18:56 US government debt and Treasury market
24:39 USA now spends more on debt interest than military
25:09 China dumps US Treasury securities
25:59 Europe, Canada, Taiwan buy US Treasury bonds
27:57 Outro

|| Geopolitical Economy Report ||

[HK]

Since when did US media ever tell the truth?

[JefferyDuns]

The dollar is literally being destroyed / debased / devalued. The best performing asset in the history of the world is BITCOIN. It is by far the best store of value. 10 years from now you’ll be thankful for every dollar you put into it.. My two cents.

[AlexXxsID]

BRICS is a fresh product in the world economy. Without blackmail, without wars and without colonial dependence.

[subatomicparticle]

The US has done more to destroy itself than any external enemy could in the video "The logarithmic decay of the dollar"!

[NazCompetition]

What a great professional reporter ❤
May God bless you 🙏❤️

[GillerHeston]

The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

[watanglipuhadjar]

I remember when the Russia vs Ukraine war first broke out. How the Russia's currency was pushed to its lowest point. but the reality is hard to destroy, now the ruble is doing well and keeps getting better. for me, that is an indication that the russian economy is too strong even when facing the USD. so, no wonder that BRICS is very confident and able to shift the influence of the USD as the strongest currency in the world.

[PerceivedREALITY]

BRICS+ is a golden opportunity to unite. Mutually beneficial cooperation leads to prosperity. 🇧🇷🤝🇷🇺🤝🇮🇳🤝🇨🇳🤝🇿🇦+

[waldenharvey]

The dollar is literally being destroyed / debased / devalued. I just want my money to keep outgrowing the inflation rate. How do i invest about 250k i have parked in the bank and what strategies do i employ to make significant gains and stable cashflow?

[lilyBeans-czrm]

The average westerner is CLUELESS…TOTALLY CLUELESS 🤦🏻‍♀

[Kioki-xp]

If you keep behaving like a bully, you will eventually end up with no friends & you will be hated by everyone.

[ailinchong]

AWESOME & BRILLIANTLY ARTICULATED, INFORMATIVE & EDUCATIONAL THANKS BEN ALWAYS A GREAT PLEASURE TO LISTEN TO YOUR INSIGHTFUL ARTICLE 👌👍👏🙏🙏🙏

[mcmaltaeurope]

Thanks for your comment and we'll explanation of the facts Congratulations BRAVO ❤❤

[nizammatnor]

the most important thing is to unite and leave the bullies, welcome BRICS..!!!

[pecan]

EXCELLENT presentation Ben! Well done and should be watched by all

[Almir_SLOVENIJA]

Western media can't even acknowledge the existence of BRICS. They call the Kazan 2024 summit, "the Russian conference" 😅

[ailinchong]

Thanks Ben for your comprehensive & most enlightening research 👌👍very informative & educational article, alway brilliantly articulated 👌👍awesome

[monacattan]

ThanksBen, you really make economics easier to understand!

[sword]

This is such a great episode! So well covered and so clearly explained.

[yaoliang]

Many countries once look forward with hope n admiration towards the US as the world leader but due to excessive greed n arrogance brought on by the USD hegemony, the US has over abused the exorbitant privilege placed upon them by the trust of others n has killed the goose that lay the golden eggs