Parallel Mike: Resetting the Global Reserve Currency
Palisades Gold Radio: 7-22-2022
Tom welcomes an interesting new guest, Parallel Mike. Mike is the host of the Parallel Systems Broadcast on YouTube where he shares finance, geopolitics and personal liberty content.
We’re coming to the end of a long-term currency cycle which dates back to the 1500s. These cycles last around a hundred years, and we’re witnessing the problems in the current monetary system. When new cycles begin to end, we typically see periods of unrest internally and external. Often there are global wars, and we see the potential of that now.
The current system is one with enormous debt, as a result, there is a desire to tie the system to commodities. In order for a new system to replace the old it must be appealing.
The old system will do whatever it can to maintain its power. The coming system will be good for precious metals and other commodities. The U.S. has a big advantage due to it’s reserve currency status. They can leverage that power to levy sanctions, block countries from transacting, or as we seen recently, freeze reserves.
Venezuela is an example of such a country. Whenever a country proposes an alternative approach to currency or utilizing gold, we often see a military intervention shortly afterwards.
The debt bubble is a time bomb waiting to happen. He discusses the key participants in the BRICS and their approach to working cooperatively. Combined, they do represent a significant power base of global trade.
Rising superpowers like China have no interest in maintaining the existing dollar system.
Mike discusses economic Sergay Glazyev and his role in Russia’s financial policies. He is a key architect of a new economic system and, interestingly, one of the first Russian Citizens sanctioned by the United States.
Some of Sergay’s writings are quite eye-opening. The BRICS will be creating new rating systems built into the system. One key aspect is a default on the old system won’t impact their ratings in the new system. This is a potential way out for many nations around the world.
Eventually, Europe is going to need commodities to trade with the other nations in the new system. They will need something of value, especially if the systems becomes fully bifurcated.
Lastly, he discusses the risks of relying on any western systems. Examples include the medical system and energy availability in Europe.
Start worrying and act around your energy, food, and water supply needs. Consider what will be important in the coming financial system.
Talking Points From This Week’s Episode – The hundred-year currency cycle coming to an end. – Why the next system will have to be tied to commodities. – The role of the BRICS and why you need to be prepared for what’s coming.
Time Stamp References:
0:00 – Introduction
0:33 – Fiat Systems & Cycles
2:48 – Commodities & Currencies
4:37 – Dollar Weaponization
8:16 – A New Standard BRICS+
12:19 – Sergay Glazyev
14:42 – Transitioning Systems
18:38 – Central Banks & Gold
22:14 – Standards & Valuing Gold
28:07 – Dominate or Cooperate?
30:26 – Global Conflict Trigger?
33:32 – The Great Upheaval
37:17 – Dystopian Politics
39:46 – Protecting Yourself
46:05 – Timelines & Opportunity
51:16 – Wrap Up
