“The de-dollarization is going to happen and it’s going to be a very painful process,” says Alfonso Peccatiello, founder and CEO of The Macro Compass. He says moving away from the dollar-centric transaction system will result in “geopolitical tension, wars, tectonic shifts, and nothing we hope for as humanity.” On top of that, “We have created $12 trillion of debt, denominating in dollars but issued by entities that are not in the U.S… when they became debt in a currency that is not controlled, they basically become independent of dollar inflows from their trade to service their debt, so they need to sell more commodities in dollars to pay their dollar debt and dollar coupons.” Ahead of the Fed’s upcoming meeting, Alfonso says the central bank is expected to approve a 25-basis-point boost.
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Chapters:
0:00 De-dollarization
7:01 Gold
9:38 China’s gold purchasing strategy
11:12 CBDCs
14:50 Recession
17:14 Stagflation
19:05 Alf’s advice
