Geopolitical Economy Report | Famous US economist warns: dollar system is weakening as gold BRICS rise @GeopoliticalEconomyReport | Uploaded October 2024 | Updated October 2024, 2 hours ago.
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.

BRICS plans ‘multi-currency system’ to challenge US dollar dominance: Understanding Russia’s proposal - geopoliticaleconomy.com/2024/10/19/brics-russia-multi-currency-system-us-dollar

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

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