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Jeff Booth On How Inflation Is Theft #904

The Pomp Podcast

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China Isn't the Reserve Currency of the World

The U.S. Dollar has been pegged to the Chinese yuan for more than a century. The peg was put in place after china bought us Bonds, but when they stopped buying them and realized we couldn't pay back our debts, they kept the peg. China is now putting their money into safe haven assets like rare earth minerals or real estate all over the world with that same trade balance instead of US Dollars. It's driving massive chaos, supply chains, chaos thati is bound to get a lot worse," he says.

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