London Paul: Part 1 – War, New Reserve Currencies & Crumbling Empires
Palisades Gold Radio: Dec 1, 2022
In this two-part presentation, Tom welcomes back Paul from The Sirius Report to begin a discussion on the rapidly evolving multipolar world.
In part two, we dive further into the BRICS Currency System and why gold and silver can protect you from all possible outcomes of an uncertain future.
Paul is concerned with the unintended consequences of the war in Ukraine and the economic sanctions. They misunderstand how the Russian economy works and their alternative systems to SWIFT.
Since 2014, Russia has been constructing new domestic markets to diversify themselves away from the West.
He explains the idea of the ‘Global South’ which includes 87 percent of the world’s population that exists outside Europe and North America. The rest of the world took notice when Russian assets we’re seized, and most countries are concerned they could be next.
Dedollarization is working because other nations are finding ways to use their own currencies to circumvent the dollar system. They are starting to avoid the expensive dollar by dealing directly with each other.
Europe and particularly Germany has been reliant on cheap energy from Russia. These nations could have signed long-term contracts last year for energy, but now the prices are much higher.
The United States has been pressing the narrative that Russia is not trustworthy, even though they have been an extremely reliable trade partner. Countries can’t simply change energy suppliers overnight, and “It’s almost like a comedy of errors with potential catastrophic consequences.”
The West can’t change course on Russia due to the amount of political capital that has been invested. Cooperation is happening between the global south and trade is already growing.
The West doesn’t understand how China and Russia’s economies actually function. Soon, the global south will not need the west. Western politics is a constant conflict and a total waste of time. It’s just an illusion of choice, and practically nothing gets achieved.
Time Stamp References:
0:00 – Introduction
1:24 – Sanctions & Consequences
6:50 – The Global South
17:48 – Japan & Treasuries
19:07 – European Energy & Germany
28:18 – Blame Russia & Politics
32:47 – SWIFT Flight & Trade
35:34 – Economic Planning
42:29 – Ukraine in Collapse
50:17 – Russian Fixation
52:58 – Complexities
54:52 – Red Lines & Escalation
Talking Point From Part One – The lack of understanding and consequences of Western nations regarding Russia and China. – Why the era of cheap energy for Europe is now over. – The lack of West to have long-term economic plans and the consequences. – Europe’s fixation on Russia and why politically they can’t change course.
