I agree with him that the USD-based system is going away (and probably soon), but he mentioned the US might even return to some sort of gold standard. This I disagree with. They will NEVER do that willingly because they are so used to playing around with things and hiding things that they could not return to any type of honest system. The only way that happens is if the world moves on and the US is forced to play along or be left out. They will not do this unless everything else fails.
So with his comments about CBDC I am reminded of what Jim Willlie has been talking about for at least 8 or 10 years....that they will try another fiat-based system which will not work or be accepted and that they will be forced (at least internationally) to use gold-backed notes for trade. He has been saying for years the second version of the USD will be what he coins the "scheisse" dollar. I believe he means "shit" dollar by this (forgive any incorrect translation as I do not speak German).
Rob Kirby had mentioned previously that China way paying Iran in part or in whole via bitcoin. So there is some real use there, but I just don't know if central banks will ever willingly cede their power over to something like bitcoin. In fact, I would expect some governments to play games and manipulate it to make money for themselves or their cronies (i.e. - Blackrock, Vanguard, etc.). If it got going, it would be a great way to suck capital in and then destroy it by claiming the blockchain is corrupt, finding out a way to manipulate the blockchain to alllow them to generate unlimited bitcoin, etc. Not sure if I agree wtih the guy on this video that bitcoin can kill central banks. That to me sems like a bit of a stretch.
Debt jubilee - totally agree with the guy on the video that US debt will be dealt with through inflation. I think that is the only option they have at this point. Or they could create a war and blame the war. I got a laugh when I heard that in response to China Joe's debt forgiveness announcement, some schools raised their tuition. Forgiving student loan debt is not going to solve the problem. It will just buy a few votes. So it will not slow down the growth in student loan debt unless we have a big drop in college attendance.
