Alasdair Macleod: The Financial Equivalent of Nuclear War
Palisades Gold Radio: 8-2-2023
Alasdair Macleod believes that the US dollar is heading towards a major financial crisis due to its unsustainable debt trap, contraction of bank credit and rising interest rates.
He believes that Russia and China are behind the destabilization of the US dollar as a global currency and are attempting to introduce a new single, gold-backed trade settlement currency, which the enlarged BRICS membership could potentially use.
This currency does not include any retailers yet, but those involved in international trade transactions would need to use it.
McLeod believes that the US government has been sending Henry Kissinger and Janet Yellen to convince China to not abandon the US dollar, as the consequences would be immense.
However, he still believes that the majority of BRICS members will ultimately support this new currency in order to improve monetary stability and create a stabilising effect on global markets.
Alasdair believes that the Russia-Ukraine crisis and the US sanctions against Russia have been the catalysts for the introduction of a gold-backed currency.
He believes that a financial war similar to a nuclear war is brewing due to the shift from fiat currency to gold, and the contraction in bank credit will result in a decrease in the nominal GDP of countries.
To counteract this, and protect itself, Russia and China have been attempting to support poor countries in order to keep them away from Western control.
Lastly, he discussed the historic situation of the Weimar Republic’s financial collapse, which saw those with gold profit handsomely, and concluded that the only solution for the Russian economy was to move forward with the “financial war” which he predicts will happen at the Johannesburg BRICS summit.
Time Stamp References:
0:00 – Introduction
0:34 – BRICS Meeting & The Dollar
13:47 – China-Yellen Meeting
15:00 – Gold & Global Trade
19:03 – BRICS & SCO (Asia)
26:55 – Russia & Commodities
33:10 – Western Fiat & History
36:47 – Western Ignorance
40:54 – Foreign Held Debt
43:37 – Bank Credit & Money Supply
50:34 – Gold & Financial Wars
55:15 – Golden Consequences
1:02:32 – Gold in a Crisis
1:05:22 – Wrap Up
Talking Points From This Episode
– BRICS is proposing a gold-backed currency as a trade settlement system to reduce interest rates and increase monetary stability.
– The US has sent Henry Kissinger to try to convince the Chinese to abandon the proposed currency.
– Moving away from the dollar and backing it up with gold could create a financial war.