5 Minutes Ago: Alasdair Macleod Shared a Horrible News

本站添加: 2026-05-13

[00:00:00]The dollar is toast. This is very bad news. It really is and the consequences are that we've got a a declining economy, which I think will go into a real slump, major slump with interest rates rising at the same time, inflation, you know, which is the misnomer actually. Really what is is collapse in the purchasing power of the dollar um soaring. Um you know, this is I mean it's not just a question of stackflation. I mean this is the nastiest um combination really of an economic and fiat currency collapse.

[00:00:34]It's the end of the fiat currency era.

[00:00:36]That's really what we're staring at. But if you look at the US, I mean the the expansion of credits has been very much into puffing up financial assets. You know, this is a bubble. Bubbles inevitably burst and you the fallout from that this time instead of having uh a currency actually tied to gold on a gold standard, this time it'll take the currency down with it cuz what is currency? Currency is credit. I mean you can see the mechanics of it. Bond yields will rise. Call it a buyer's strike.

[00:01:06]That's what we called it in the '70s when we had these conditions. When you get rising bond yields, that drives down all financial assets. You get a real crisis developing. Uh the Fed is now in a position where it's effectively set itself up not just to be the lender of the last resort, but the rescuer of the whole shooting match. So you can see that contraction in the value, if you like, of credits in the private sector is going to be more than made up by the dilution of the dollar, you know, by government authorities, including the Fed. So this is you know, it look it's the end of the fiat currency era. That's actually what we're approaching. And um I don't say that lightly and it shouldn't be taken lightly either. One of the things that's really going to kill the dollar, I think, in 2026 >> [music] >> is um you know, the developments we've seen recently with BRICS.

[00:01:57]I mean it's fascinating. Apparently um Modi in India turned down. I mean he refused to answer the telephone four times to President Trump when President Trump realized that he'd made a huge great mistake trying to sanction India for um uh taking in and processing uh Russian oil.

[00:02:19]Uh you know, I mean this is the offer of the deal. But I mean the offer of the deal really depends on your interlocutor [music] actually talking to you. And yeah, Modi said, "No, forget it." And next week he was in Beijing or not but Tianjin or whatever it was um you know, the SCO conference.

[00:02:37]You know, hugging and kissing with um Putin and uh Xi. Ha, you know, that said it all. I mean these are the two most populous nations, India and China, 2.8 billion people out of a total population of the on the planet of about 7 and 1/2 billion.

[00:02:54]I mean what we're looking at. I mean you you know, you were saying that um you know, sort of BRICS and SCO we're looking at something like uh 40%. If you look at um if you look at GDP in in purchasing power currency terms, China is already a good 30% larger than the United States.

[00:03:12]Taking the whole thing, I mean what we're seeing is China [music] is tying up the majority of the world economy as its own market.

[00:03:24]It no longer cares about America. It no longer [music] cares about Europe. I mean we can you know, we can ban them from here to hell and gone. It's not going to change anything.

[00:03:36]And the one piece in the jigsaw which is yet to really be put in place is the one which we can now see developing and that is a yuan which doesn't share the fate of the dollar, the euro, sterling, and the yen.

[00:03:53]The yuan will go on a back I I mean the way it's going, you can see quite clearly that they're modeling a new gold back uh currency based on uh the way in which Bretton Woods worked. In other words, it won't be um for individuals, if you like, to exchange yuan for gold. It'll be at the government level.

[00:04:15]And it'll be international trade related. Exactly what we had under the the Bretton Woods system. This is Bretton Woods mark two. You can see it.

[00:04:24]It's there. Now what does that do the dollar? It kills it.

[00:04:28]Because you've got the majority of the world, both in terms of population and GDP, no longer no longer needing the dollar.

[00:04:37]And so you know, you've got 40 trillion dollars of financial assets. You have got, according to the Bank of International Settlements, a further 80 trillion tied up, if you like, as part of the foreign exchange markets.

[00:04:50]On top of that, you've got the euro dollar market. In other words, offshore dollars, which are a further 10 trillion. So you've got what? About 130 trillion dollars seeking a home.

[00:05:02]Where's it go? Goes back to America, doesn't it? It you know, it gets sold.

[00:05:06]It's redundant.

[00:05:07]That's going to collapse the dollar. You collapse the dollar, what do you do to us? You collapse us as well.

[00:05:14]And the Eurozone, God bless them.

[00:05:17]And also the the the yen. I mean this is this is the challenge. Dealing with this is the challenge in 2026. And markets are blissfully unaware of it. I you know, momentum chasing the video and Bitcoin and all the rest of it. I mean you know, this crazy. People are asleep. Wake up.

[00:05:37]Well, I I think things happen in phases.

[00:05:40]I mean the first thing we're seeing is the decline of the dollar um and that will have the knock-on effect on all the fiat currencies because it Well, really what we're looking at is the end of the fiat currency system.

[00:05:53]Um I [clears throat] think Sorry, excuse me.

[00:05:56]I think that um Europe is in great risk of um falling apart. Um uh the Brussels administration [music] is is a joke um and it hasn't really got control over everything anything. I mean you know, not democratic control. So so long as Brussels exists, it is divisive, I think, between nations rather than cohesive, which it's meant [music] to be.

[00:06:21]You can already see that um there are some factions which look more likely to survive than others and I would say that Italy um under uh Meloni's really I mean that is a recovering well and she she's also got the common sense to realize that you've got to have you know, you've got to have people with wealth around you rather than um chasing them away. I mean you know, you get the head of Goldman Sachs Europe moving to Milan for goodness sake. I mean you know, that was a huge signal, I I think.

[00:06:55]Uh and um also Hungary um >> [music] >> and some Balkans, etc. Uh so I think there's you know, there there is a sort of, if you like, a a left-right you know, a sort of welfare state uh is is is history uh part and welfare [music] state we're going to continue on down that road because we're communists after all, you know, like France.

[00:07:18]Spain now.

[00:07:19]Germany is difficult. Germany is a mess, a huge great mess. Um you've got the politics of uh you know, anti-Russian politics and all the rest of it. I think that's probably going to go to an extent, but um it's so I think I think it's I think Europe's sort of dividing into those sort of two camps and I think it'll just break apart the whole thing. The euro itself is I it's like a camel, you know, put together by a committee. It won't survive. Of that I'm absolutely sure.

[00:07:52]Well, yeah, but I mean on its own, what would happen is that they would restructure it um if you like to try and keep the thing going together.

[00:08:01]But I think the thing that'll kill it is currency.

[00:08:04]The currency is a I mean it's a fiat currency. Okay, we know that the central banks I mean the Fran- France, Germany, [music] Italy are three of the biggest holders of gold um in you know, central banks. Uh but they haven't got they haven't got the situation where they could go back onto a gold standard. Um because uh you know, that their um deficits their budget deficits are absolutely enormous. They're out of control and there is no political will to control them.