Donald Trump has threatened that, if he comes back as US president, he will impose 100% tariffs on countries that drop the dollar, trying to cut off their trade. Ben Norton discusses how this will accelerate the global dedollarization movement, incentivizing more nations to join China, Russia, and BRICS in seeking financial alternatives.
VIDEO: https://www.youtube.com/watch?v=4sYacRjSND4
Check out our related video "De-dollarization: China drops US Treasury bonds, instead buys gold, oil, metals": https://www.youtube.com/watch?v=z-bnIrbZjaM
Topics
0:00 (Clip) Trump threatens countries that drop US dollar
0:49 De-dollarization
2:06 (Clip) Trump pledges tariffs on nations that de-dollarize
2:24 Dollar system is not a "public good"
3:03 BRICS
3:49 BRICS Bank (New Development Bank)
4:33 Brazil's Lula calls to drop US dollar
5:10 China & Brazil de-dollarize trade
5:35 China & Russia de-dollarize trade
6:01 Russia & Iran de-dollarize trade
6:10 Southeast Asia (ASEAN) de-dollarizes
7:05 (Clip) Trump: "I would not allow countries to go off the dollar"
7:37 Trump's plans to punish independent countries
8:22 Dollar system and US imperial decline
10:00 China is biggest trading partner of most countries
11:11 BRICS GDP (PPP) is bigger than G7
12:27 Largest economies on Earth (Rise of Global South)
14:01 US imperialism is in crisis
16:27 China's share of global trade
16:40 China de-dollarizes its trade
20:10 China buys oil & gas in yuan/renminbi
21:56 De-dollarization of trade vs savings (investment & reserves)
22:40 China dumps US Treasury securities
25:11 China's central bank buys gold
25:56 JP Morgan report on dedollarization
27:07 Multipolar financial world
29:01 Outro
