TRUNEWS with Rick Wiles - Triple-Digit Inflation Coming to USA if Saudi Arabia Dumps Petrodollar

Episode Date: October 21, 2022

In recent weeks, a number of indicators have appeared that warn of impending financial trouble. Last week the International Monetary Fund released a new Global Financial Stability Report that warns th...at a series of cascading shocks endanger global financial stability. The IMF said the health of the global financial system had materially worsened since last year’s report. Nearly every central bank in the world is raising interest rates after years of negative rates.Billionaire Ray Dalio said the US economy faced a perfect storm. JP MorganChase CEO Jamie Dimon has also issued dire warnings about an impending financial storm.Rick Wiles, Doc Burkhart. Airdate 10/21/22.It’s the Final Day! The day when Jesus Christ bursts into our dimension of time, space, and matter. You can order the second edition of Rick’s book, Final Day!https://rickwiles.com/final-day

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Starting point is 00:00:00 The following program is made possible by the faithful prayers and financial support of listeners just like you. To find out how you can help, visit www.truenews.com. This is True News. The truth, the whole truth, nothing but the truth. So help us God. In summer 2004, I alerted the True News audience that a financial storm was brewing. And then throughout 2005, I advised our supporters to get out of the real estate market because a massive real estate crash was coming. In 2007, I warned that a bank liquidity crisis was coming to the world, and I acted on my own advice.
Starting point is 00:00:58 I sold our home and office building in 2005 at the peak of the market prices, and then I rented until the real estate market hit bottom. I then purchased a house and a new office building for pennies on the dollar. Now, I must sound the alarm again. An even bigger storm is coming. It will be hyperinflation the next time, perhaps triple-digit inflation. In recent weeks, a number of indicators have appeared that warn of impending financial trouble. Last week, the International Monetary Fund released a new Global Financial Stability Report that warns that a series of cascading shocks endanger global financial stability. The IMF said the health of the global financial system had materially worsened since last year's report. And nearly every central bank in the world is raising interest rates after years
Starting point is 00:02:00 of negative rates. And then billionaire Ray Dalio said the U.S. economy is facing a perfect storm. And JPMorgan Chase's CEO, Jamie Dimon, has also issued dire warnings about an impending financial storm. Today, Doc Burkhart and I will help you understand the event that could trigger a financial Armageddon in America
Starting point is 00:02:27 and also give you an idea of how close we are to that event. And it will probably surprise you what that event is as we go along here. You're probably going to think, well, it's war or it's one other thing. But what we're going to show you today is going to probably surprise many of you. I think so. And I hope they realize how close we are to that event. It is a trigger event that will change America. It will change the world.
Starting point is 00:02:57 But it will turn America upside down. Let's start with Politico. The global economy is in chaos. Nobody's coming to the rescue. And this is Politico's report on the meeting that took place last week. We have a quote from this particular article. America is driving the West's response to the war in Ukraine, but U.S. officials are struggling to project a global response to a worldwide economic slowdown.
Starting point is 00:03:26 A sense of dread surrounded meetings of finance ministers and central bankers in Washington this week, we talked about last week, amid one of the most foreboding moments for the world economy in years. The list of worries was alarmingly long. Stubbornly persistent inflation, crippling interest rates, panic around the worsening energy supply crisis, manic markets, and the spiraling of the UK government. So at this meeting of finance ministers
Starting point is 00:03:57 from around the world meeting in Washington last week, I guess we missed this article last week. I didn't know they had a sense of dread. That's the way Politico described it. Yes, a sense of dread, an economic chaos. And the article says, nobody's coming to the rescue. Nobody has a plan. When you read the entire article,
Starting point is 00:04:16 the basic message of the article is, none of these world leaders, these financial leaders, have a plan to deal with the financial crisis that's already underway. I disagree, Doc. I disagree because the plan is in the beginning of the political article. America is driving the West's response
Starting point is 00:04:41 to the war in Ukraine. That is the response to the financial crisis. The reason we're having a war is because the Western financial system is collapsing and the leader of the attack against the New World Order of the West is Russia. That is the response to the financial crisis. They have to destroy Russia because Russia is
Starting point is 00:05:07 challenging the system. And so that's why we're having a war. The reporters at Politico don't get it. They don't watch True News, so they don't understand these things. But we want to help them out. So if they watch us today, we will help them understand why we're having a world war right now. It's because the Western financial system is in disarray and is on the verge of collapse. The next story is from Izvestia in Russia. A Russian expert says to look for an apocalypse in the world economy. Doc, the last time I saw something like this, and I actually, the moment I saw the headline, I scanned it real fast to see if the Russian expert was Dr. Tatyana Karagnya.
Starting point is 00:06:00 Oh, yes. Because in 2001, July 2001, she was an economist to Putin. Putin was not even the president yet. Right. I guess he was prime minister at that time. And Dr. Kouragnia told members of the Russian Duma, she testified before a committee, and she said, there's going to be a financial hit, a strike on America, and the U.S. dollar is going to be in serious trouble, and Russian businessmen should get their money out of America soon. She actually said before September. No, she said August. She thought the attack would happen in August.
Starting point is 00:06:46 This article was in July 2001. I later, after 9-11, I interviewed her and asked her about the attack. And she said the attack on the World Trade Centers and the Pentagon had nothing to do with Arabs, had nothing to do with Islam, that it was organized and paid for by a cabal of men that controlled trillions
Starting point is 00:07:05 of dollars. And back then in 2001, I couldn't even, my mind couldn't even comprehend trillions of dollars. We were still talking in billions in 2001. Right. But she said they control trillions of dollars. And the purpose of the attack was to crash the American economy and to introduce a new global currency. So what happened?
Starting point is 00:07:32 She said the American economy was stronger than they anticipated. They were surprised that it didn't fall. And I said, what are they going to do? And she said, they're going to keep attacking America until your system falls. And I said, are they going to do it to Russia also? And she said, yes, they're enemies of both of our countries. She saw it right. She knew it was not the American people as enemies of Russia and the Russian people were not the enemies of the American people, but there was a shadow government that was seeking to bring down both countries. Have they not brought down the United States? It's a completely different world today than it
Starting point is 00:08:14 was in 2001. We're in shambles as a country, and now they want to bring down Russia. So she says here, an apocalypse is coming to the world economy. Right. So this is from the article from Asvestia here. The apocalypse in the world economy, that is the absence of a weakening of inflation, a recession, and then a financial crisis is one of the options for a negative development of events. Olga Bilinkaya, head of the macroeconomic analysis department of FG Fennum, told Investia this earlier today. Now, according to Bilinkaya, against the background of record world inflation for several decades, the world's largest central banks fear the loss of the last pillar of price stability, anchored long-term inflation expectations,
Starting point is 00:09:06 one in the decades after the 1970-1980 stagflation. Now, to prevent this, they are announcing the priority of lowering inflation and the readiness to do this to raise interest rates to levels that depress economic growth and maintain them at these levels probably until the end of 2023, even if this leads to a recession, she explained. So Rick, in getting an understanding on this, she is saying that this is a controlled demolition, if you will, of the world economy using, you know, basically jump-starting a recession, global recession, to do it. Yes. Is that a good analysis of that?
Starting point is 00:09:48 Yes, even though the politicians and the economists in America and the Federal Reserve talking heads will say, we want a soft landing. Right. Whenever you hear them talking about a soft landing... Expect a hard landing. Yeah, that means we are bringing down the economy Whenever you hear them talking about a soft landing... Expect a hard landing.
Starting point is 00:10:09 Yeah, that means we are bringing down the economy and we hope that when it hits the ground, it doesn't crack and break. That's what a soft landing really means. She mentions the stagflation of the 1970, 1980 period. That's what we've been talking about here. Right. And we've been telling our audience we're going into a repeat of the 70s, 80s. We're looking at 10 to maybe 15 years of inflation, waves of inflation. So she is saying, you're right, Doc, that the central banks
Starting point is 00:10:46 are deliberately bringing a halt to economic activity. It's the central banks that cause the inflation by increasing the money supply. Globally. Every country. Quantitative easing.
Starting point is 00:11:03 What a nice, pleasant term for the printing of money, money that doesn't exist, the creation of money out of the thin air with nothing backing it. No gold, nothing backing it, just digits. So they flooded the world
Starting point is 00:11:21 starting in 2008 to save the banking system from crashing when Lehman Brothers went down. And then there was quantitative easing throughout 2008 and up until last year because of COVID. The COVID relief money was quantitative easing. They paid people to sit home. That's quantitative easing. They introduced universal basic income, free government money for not working. But the central banks, they had to print money. They had to create invisible money. Now all that inflation, going back to 2008, that inflation is now appearing. We didn't see inflation for over 20 years.
Starting point is 00:12:15 Actually, since 92. I think it ended in 92. So we haven't seen inflation. They kept it very, very small. But now we see rapid rise of prices and this is going to continue for at least a decade. It is the result of the policies of the central banks. Yet they will tell you that they're taking actions to halt inflation. I mean, the Congress a couple months ago passed the Stop Inflation Act, whatever they called that stupid bill.
Starting point is 00:12:51 They're going to pass a bill and stop inflation. And how did they plan to do it? By putting more money into it. By putting more money out there. Okay? So it's just like pretending you're going to change the climate with some kind of law. So the central banks are tinkering with the economy again, and they know that their monetary policies cause the inflation, and they know that they have to slow down an overheated economy. Yes. Seriously?
Starting point is 00:13:25 An overheated economy? An economy is too efficient. We've got to slow it down? Yes. That has never made sense to me. Of course not. You want the economy to be charging.
Starting point is 00:13:37 I thought that was our goal. We want the economy to be red hot, to be charging, to always be growing and expanding. But they'll use that term when they want to fool the public into thinking that, oh, the economy is too strong. That's the problem.
Starting point is 00:13:55 Biden has the economy revved up. We've got to slow it down. Joe Biden has got a booming economy. And now there's inflation. No, that's not the reason. The inflation is here because of the policies of the central bank, where they increased the money supply. And this stuff about cooling down an overheated economy,
Starting point is 00:14:18 that's just propaganda. Just hokum. What they're going to do is pull the emergency brake on the train, bring the train to a screeching halt, and throw a lot of people out of work. That's what they're going to do. And it's in motion right now. We've got Elon Musk saying he's going to eliminate 75% of Twitter's workforce. I have never heard of a company slashing three-fourths of its workforce
Starting point is 00:14:50 and staying open. Microsoft announced layoffs of thousands of people. Intel, thousands of employees. I mean, it's happening all over the United States right now. So we're just getting started in the elimination of jobs. You want to know how to keep your job? I'll tell you two things. First of all, be a giver. Be a giver to the work of God. Get involved with God's kingdom, be a giver. There's never been a better time to be a giver than now because the economy's getting bad. You need to
Starting point is 00:15:25 get good. Become a giver. Number two, be the best employee your company has on the payroll. You do those two things, you're not going to be out of work. It's just that simple. I'm just going to do the
Starting point is 00:15:41 minimum to get by. That attitude? No, you're going to get laid off. You're not going to get hired because nobody's looking for mediocrity. Nobody's out there saying, I've got to find a really mediocre employee. Nobody. So if that's your attitude and you've been doing that for years, I'll just do the minimum. Well, you better hope the government sends you welfare money because nobody's going to hire you. This is going to last for 10, 15 years. The great attitude adjustment is here. I've been
Starting point is 00:16:15 waiting for this, Doc. The big attitude adjustment. We're just getting started in it. Oh, yeah. A lot of little snowflakes who haven't even gone back to work since COVID. And they're still getting paychecks. They're getting paychecks from companies because the companies are afraid to tell the little snowflakes, if you don't come to work, we're going to fire you. They've been afraid of them. Well, guess what? Now the companies are going to fire them.
Starting point is 00:16:42 Corporations are not going to put up with this snowflake mentality that you have to provide me with some kind of comfort room and teddy bears if my feelings get hurt. They're not going to put up with it. They're going to slash thousands of jobs. They're going to keep the productive employees and they're going to prune the non-productive employees so let's get back to this uh investing well i'll tell you what um i'd rather go down to uh number eight this is oilprice.com oil could surge well above 100 after the midterm elections in america next month the story came out today. Right. And part of the story, too,
Starting point is 00:17:26 is a lot of the embargo on Russian oil hasn't even started yet. It doesn't start until the 1st of December. They've delayed it. You know, we're still importing Russian oil to the U.S. today, to this very day. I thought the Russians were bad. Well, we're still importing oil.
Starting point is 00:17:44 So is Europe, when they can get it. But we weren't. But the embargo takes place the 1st of December. So, yes, you're going to see energy prices. You're going to see oil go to maybe $150 a barrel, Rick. I mean, this is the reality that's going to be clocking in here. They've delayed this as long as they possibly could, but the chickens are going to be coming home to roost. Doc, a week or two ago, President Joe Biden did an interview on CNN, Jake Tapper, and he said there's going to be consequences for Saudi Arabia.
Starting point is 00:18:23 Yes. Basically, what he was saying was, they defied me. They bucked me. They did the opposite thing that I told them to do. I mean, that's not the words he used, but that's the message. Why would there be consequences?
Starting point is 00:18:36 Because he begged Saudi Arabia to not cut oil production until after the U.S. elections in November. Even though the White House and the Biden administration has denied this ever happening, multiple Saudi sources are saying that's exactly what happened.
Starting point is 00:18:55 He begged Saudi Arabia to hold off the cuts until November. So he asked a foreign government to interfere in the U.S. election. That sounds awful familiar, doesn't it? It sure does. But the Saudis exposed him. They said, no, we are going to cut production, 2 million barrels a day.
Starting point is 00:19:16 And we're going to do it a month before the election. A month before the election. And we're going to tell everybody that you begged us to hold it off for a month. Because, you know, he knew the two million barrel cut was—privately, I think he knew it. And I think what he said was, please, don't do it until after the election. You're going to crush my Democratic Party. Please, don't cut two million barrels a day. Wait until November. He didn't ask them, don't cut 2 million barrels a day. Wait until November.
Starting point is 00:19:46 He didn't ask them, don't implement a cut. Just delay it. Delay the cut. He knew the cut was going to happen. And the Saudis seem to have confirmed that too. President Joe Biden warned, and this was last week, that Saudi Arabia would face consequences after OPEC Plus announced the biggest cut in oil production since the start of the pandemic. Senior Democrats on Capitol Hill
Starting point is 00:20:10 have condemned the decision by Saudi Arabia, the de facto leader of the oil producing alliance, to reduce the global supply of petroleum. There's going to be some consequences for what they've done with Russia, President Biden said of Saudi Arabia in an interview with CNN's Jake Tapper. I'm not going to get into what I'd consider and what I have in mind, but there will be, there will be consequences. And so the Saudis said, yeah, there's going to be consequences for you, Joe, because we're going to switch allegiance. We're going to go with Russia and China. And that's what we're going to talk about here today. So, Doc, this next story,
Starting point is 00:20:52 this is Al Jazeera. Here's another one today. Yes. Turkey accuses the United States of bullying Saudi Arabia over OPEC plus oil cuts. Once again, isn't Turkey a U.S. ally, a member of NATO? But Turkey is taking the side of Saudi Arabia. That's right.
Starting point is 00:21:13 So Turkey accused the United States of bullying its ally Saudi Arabia after OPEC Plus producers announced major oil production cuts despite American objections. OPEC Plus announced recently it would produce 2 million barrels of oil less a day starting in November, curbing supply in an already tight market despite pressure from the U.S. and other nations to increase output. Now, U.S. President Joe Biden last week said that there will be consequences for American relations with Saudi Arabia after the OPEC Plus move. We see that a country has threatened Saudi Arabia Especially recently this bullying is not correct foreign minister of mevlit Kavasoglu set at a news conference in southern Turkey on Friday We don't think it's right for the u.s. To use it as an element of pressure on Saudi Arabia or any other country in this way
Starting point is 00:22:04 so of pressure on Saudi Arabia or any other country in this way. So, Rick, what we're seeing, as you mentioned earlier, is we're seeing some shifting sands of alliances taking place here globally. Turkey also this week test-fired some new ballistic missiles that they had recently developed. So they're flexing their muscles militarily as well. Now they're entering into this, in between this tit-for-tat between the U.S. and Saudi Arabia. And it seems like they're landing on the side of Saudi Arabia in this issue. Yes, and something else that happened this week, Vladimir Putin said, Russia's open to selling gas, LNG gas, to Turkey and setting up a gas hub in Turkey and letting Turkey then distribute the Russian gas to Europe. President Erdogan, a day or two later, said, yeah, we're interested in that.
Starting point is 00:23:05 We like this idea. Well, they more than like it. They've signed on. It's going to happen. This is the Greek reporter. And the United States has attacked the Turkey-Russia deal to form a natural gas hub. What do you think are the odds that there's going to be an explosion at a gas hub in Turkey?
Starting point is 00:23:31 Well, there was an attack on a pipeline earlier this week in Turkey. And so they arrested a couple people for it. But you might see some more. Now, in this particular article here, it says that the U.S. has expressed on Wednesday its opposition to the agreement announced by Turkey for the creation of a natural gas hub
Starting point is 00:23:50 in cooperation with Russia. We have worked closely with our allies and partners to impose severe and unprecedented costs on Russia, including through sanctions, export controls, visa restrictions. We have urged Turkey and all of our allies and partners that no one should have become a safe haven for illicit Russian assets or transactions.
Starting point is 00:24:11 And we will continue to make that case. That was... Illicit Russian assets. He's talking like Russia is selling cocaine. Right. They're selling LNG, liquefied natural gas. And the United States says, that's a criminal transaction. Doc, anything the United States ruling class declares to be illegal,
Starting point is 00:24:41 the rest of the world has to fall down and say, yes, master, we'll do it. And the rest of the world is getting tired of it. Getting very tired of it. And that's where this is going today. Why we want to show you that there is a mega event coming very soon that is going to rock the United States economic system. And it is a lot closer than I thought six months ago, Doc. I'm not sure if we're going to get through this year without it happening. It may be before the end of 22. It may be in early 23. But Joe Biden is making a horrific mess of U.S. foreign policy. Everything he's touched has been a disaster. All right, let's start with Afghanistan, the withdrawal.
Starting point is 00:25:36 That was a disaster. Every place they have gone has been a disaster. We're now on the verge of a nuclear war with Russia, and we're about to lose Saudi Arabia as an ally, and we're gonna lose the petrodollar. And that's where we're headed. And this is the fruit of the Biden administration in foreign policy.
Starting point is 00:26:00 And they think they're so cocky and arrogant. Yes. They actually believe that they're right. Did you see the comment by President Biden the other day? I guess he was in Pennsylvania and stopped at an ice cream shop. And a reporter asked him, what about the economy, sir? Economy is hot as hell right now. Yeah.
Starting point is 00:26:20 And so he's doing great. You don't have to worry about it. That was his. Oh, yeah. That's why they're trying to slow down that Biden economy. It's red hot. You've got to eat more ice cream. Cool it down.
Starting point is 00:26:32 That's right. Now, Vindic Patel, the spokesperson for the State Department, continued to say, as it relates to the energy conversation, we have continued to urge our allies to take steps to diversify their energy sources and to reduce reliance on Russia. And in the case of Turkey, we are working with them closely to assist in their own efforts to enhance energy security in the long term. In other words, they don't have an answer right now, do they? No, they don't. Next one. This is the Saudi Gazette. Also today, Saudi Arabia and China to work together to maintain oil market stability.
Starting point is 00:27:09 Yes, so now we begin to see the major shift that's taking place here. Saudi and Chinese officials have confirmed their willingness to work together to support stability in the international oil market. Prince Abdulaziz bin Salman, Saudi Arabia's Minister of Energy, held an online meeting with Zhang Zhenhua, National Energy Administrator of the People's Republic of China. Now, during their video call, both sides confirmed that they would strengthen bilateral relations between the two countries in the field of energy. They highlighted the significance of China and Saudi Arabia as important global energy producers and consumers, regularly exchanging views.
Starting point is 00:27:49 The two sides confirmed their willingness to work together to support the stability of the international oil market, continue close communication, and strengthen cooperation to address emerging risk and challenges. Well, Rick, what I'm hearing from this conversation here is you've got the world's number one oil supplier talking to the world's number one oil consumer, and they are working on a deal for the future. Well, in business, that's actually very normal. Right. You're the biggest supplier. You want to talk to the biggest customer, right? So we shouldn't fault Saudi Arabia for courting the Chinese. It's the biggest customer. Why it affects us is Joe Biden
Starting point is 00:28:38 has driven the Saudis into the arms of the Chinese. And he's destroying the petrodollar. It's going to be great for China. But then you think, who does Joe Biden work for? Think about this, Doc. Right. The Bidens are owned by China.
Starting point is 00:29:01 Is his foreign policy incompetent or deliberate? If it's incompetent, it's crazily incompetent. But if there's a plan, it fits the plan very well, doesn't it? It fits the plan, doesn't it? So Xi Jinping tells Hunter Biden, till you're dead, insult the Saudis. Bring down the petrodollar.
Starting point is 00:29:27 I'm not kidding about this. Joe Biden is thoroughly corrupt. He is the most corrupt man ever to be in the White House, ever in the history of the country. He's morally corrupt. He's politically corrupt. He's sexually corrupt. He is a very corrupt man. He's morally corrupt. He's politically corrupt. He's sexually corrupt.
Starting point is 00:29:47 He is a very corrupt man. And there's no accountability of this man's corruption. He's owned by the Chinese. It's so obvious. It's out in the open. And the FBI will not even acknowledge the evidence. No. That's because the FBI will not even acknowledge the evidence. No. That's because the FBI is corrupt.
Starting point is 00:30:10 They've been infiltrated by the Chinese. And so they're not going to investigate anybody who is sounding the alarm about China taking control of the world economy. And so I personally believe Biden is doing this on purpose. That is not his incompetence. He is doing this on command. His assignment is bring down the U.S. dollar because everything that he's done in the two years he's been in the White House has been to hurt the country. He's opened the border more than it's ever been opened. Yes, and won't acknowledge it. Well, of course not. Of course not, because it's a deliberate plan.
Starting point is 00:30:55 Flood the country with illegals. Everything that they've done, riots in the cities, promote crime, release criminals from prison, everything that they've done has been to break down society. It is a deliberate strategy. Republicans are too afraid to say it. The commie news media will go after them. If you actually tell the truth, you have to deal with the communist news media will go after them. If you actually tell the truth, you have to deal with the communist news media.
Starting point is 00:31:29 Republicans are afraid of the communist news media. Instead, they should just be calling them out and challenging them for what they are, communist traitors. We're so far gone as a country. We have been rotted out from inside for decades. And now the foundation is crumbling and the building's going to come in. It's just going to fall down on us right now because we've allowed the termites to chew away at the foundation of this nation for decades. And we have traitors in the country. We have people in high places who have sold their souls to the enemies of this
Starting point is 00:32:14 country. And there was a day that such people got called out. They got investigated. They got arrested. But that hasn't happened for decades. When's the last time you've heard of somebody being arrested for being a communist infiltrator in a U.S. government agency? I can't recall the last time. Now patriots get arrested. Yes, by the communists. Well, the events over the past several weeks, Patriots get arrested. Yes. By the communists. By the communists.
Starting point is 00:32:47 Well, the events over the past several weeks, the insult by the Biden administration towards Saudi Arabia has pushed Saudi Arabia closer to other partners such as Russia and especially China. In this conversation between the Saudis and the Chinese, they also highlight the importance of long-term and reliable oil supply to stabilize the global
Starting point is 00:33:05 market that endures various uncertainties due to complex and changeable international situations, noting that the kingdom continues to be China's most reliable partner and supplier of oil. And discussions between the two sides covered cooperation and joint investments along the Belt and Road countries, as well as investments in integrated refining and petrochemical complexes in both countries, and strengthening cooperation in the energy sector supply chain through establishing a regional hub for Chinese manufacturers to utilize the kingdom's strategic location linking three continents. Now, Rick, what I just heard there is they have invited the Chinese to come and build and maybe even military bases in Saudi Arabia.
Starting point is 00:33:49 That's right. Because of its key location. Now, one more quote from this, and this is an important one. And so the two sides agreed to cooperate within the framework of the bilateral cooperation agreement in peaceful uses of nuclear energy between the Chinese and Saudi governments. In addition, both ministers stressed the importance of cooperation in the field of electricity and renewables and to collaborate in the field of clean hydrogen through research and development. They've agreed, Rick, basically for the Chinese to share nuclear technology with the Saudis. So there's going to be nuclear power plants built in Saudi Arabia,
Starting point is 00:34:28 built and operated by the Chinese. What this story says today, and we go back to this headline, number 17, Saudi Arabia, China to work together to maintain market stability. What this story is saying in this Saudi newspaper is today, October 21st, 2022, Saudi Arabia and China signed legal documents to
Starting point is 00:34:53 become allies. That's what this says. They're not just flirting with each other anymore. They exchanged rings. They're getting married. But there's got to be a divorce. Right.
Starting point is 00:35:14 Saudi Arabia is married. Saudi Arabia's got to get a divorce. And they gave the first hints of that last week, or actually earlier this week, when Saudi Arabia said that they might consider or were actually pursuing becoming part of the BRICS monetary system. Actually, Doc, this story we got here, the first one, Middle East Monitor, this is July.
Starting point is 00:35:38 Yes. I forgot about this. Egypt and Turkey also indicated that they would join Saudi Arabia in joining BRICS. I know we talked about it in July, but there's been so much news since July. So much has happened. It's hard to keep track of this in our minds. But three major countries in the Middle East, Egypt, Saudi Arabia.
Starting point is 00:36:06 And one of them is NATO. One of them is a NATO member. Right. And BRICS, Brazil, Russia, India, China, South Africa. Right. All right, so you're looking at Egypt, Saudi Arabia, and Turkey joining the BRICS alliance. And that's just the beginning.
Starting point is 00:36:24 Yes, and the other one BRICS alliance. And that's just the beginning. Yes. And the other one was also Middle East monitor. And that's this week. Yes. And so the South African president had met with the Saudis this week, and it was expressed to the South African president that Saudi Arabia was ready now to start moving forward to that relationship with BRICS. So the divorce is underway.
Starting point is 00:36:48 Right. And there have been rumors of other countries too. In fact, the story today, Indonesia today, this is number 24 for control, this is from TAS, says Indonesia may fully join BRICS as envoy to Moscow. And so you're going to see a number of countries join, maybe Venezuela joining BRICS here. Several African nations have expressed some interest.
Starting point is 00:37:15 Rick, there are cracks just happening all over, aren't there? Yes. The geopolitical map of the world is going to change. Right. And speaking of maps, here's what a map of BR world is going to change. Right. And speaking of maps, here's what a map of BRICS would look like if just Saudi Arabia joined, not counting the other nations.
Starting point is 00:37:34 Egypt to the left, Turkey. Turkey up above Venezuela and South America. But even right now, Rick, just those nations together encompass about 40% of the world's population right there. The new world order is dead. Yes. It's dead.
Starting point is 00:37:55 And globalization is dead. Now, there are now two competing new New World Orders that are in motion. The old Western New World Order that has been in existence since the end of World War II, this thing is dead. It's coming to an end right now. We're in the death gurgle stage.
Starting point is 00:38:24 That's why we're having a war. It's fighting for its life. There's a new New World Order coming from the BRICS nations. The Western nations will have to launch a new version of the New World Order. And that's the Klaus Schwab gang with the World Economic Forum. A much more radical New World Order. And that's the Klaus Schwab gang with the World Economic Forum. A much more radical New World Order. Because they know that this old New World Order is finished.
Starting point is 00:38:54 And so Klaus Schwab and Bill Gates and that gang, this is going to be a more corporate-led New World Order. A modern Nazi version of the Third Reich using technology and corporations. That's what's underway right now. But there will be a time, and I don't know,
Starting point is 00:39:20 one decade, two, three, four, five decades. Look how long the last New World Order lasted. Some 80 years. 1945 to 2022. So we don't know how long this gap is going to be there before a while. The world will be divided into two camps. The Western New World Order
Starting point is 00:39:40 and the Eastern BRICS New World Order. And they will compete. Two economies, two financial systems, two technologies, two internets, two everything. Right. And it may become impossible to even travel between the two.
Starting point is 00:39:58 Yeah, think about that. You may have a new iron curtain. And it may be the United States and the West that puts up the iron curtain that says nobody can cross this wall. Instead of a physical wall, it'll be a digital wall.
Starting point is 00:40:13 You can't travel, you can't get a passport, you can't get a visa. I think that's a real possibility. Let's see. Wall Street Journal. This is from March. March 15 of this year. Saudi Arabia considers accepting the Chinese yuan instead of dollars for Chinese oil sales.
Starting point is 00:40:33 So now the Biden administration had plenty of warning that Saudi Arabia was looking. They had plenty of warning. The Biden administration was encouraging it. Yes. Biden works for Xi Jinping. You have to come to that place where you just realize Biden is an agent of Xi Jinping, he can say whatever he wants to say publicly, but privately. What world leader has he had multiple three-hour phone calls with?
Starting point is 00:41:14 Xi Jinping. Not Vladimir Putin, not previously Boris Johnson or any of the rest of them, but Xi Jinping. Self-admitted, lengthy phone calls. He gets his marching orders. He's told what to do.
Starting point is 00:41:30 And his orders right now is tick off the Saudis. End the relationship with the Saudis. So that Saudi Arabia will have the motivation to sign the contracts with China.
Starting point is 00:41:47 I hope somebody takes these comments that I'm making and runs with them. I hope my critics do it. I want to get this information out there. But we're so right about this, Doc. They won't talk about it. No. They won't talk about it
Starting point is 00:42:03 because we're too right. If they hit me on it, they'll only help other people see it. So they want us, they want what we're saying to be suppressed because it's too real. It's too truthful. It's more truthful than COVID and Wuhan. So we have a short clip. This is from March of this year where Bloomberg Financial was talking about the Saudis looking at adding the yuan to their basket of currencies for trading oil. Is in discussions with China to price some of its oil sales in yuan. Let's continue with our emerging action conversation here with Bloomberg Sher Sherry Yang, co-anchor of Bloomberg Daybreak Asia.
Starting point is 00:42:46 And Sherry Yang, this is primarily oil that they're going to buy from Saudi Arabia. It's going to China. This is not necessarily something new. We know that they've been trying to sort of push this, but they haven't necessarily been successful in striking a deal. For about six years, we've had these conversations. It looks like the debate is now being ramped up. We know that China buys about 25 percent of oil exports from Saudi Arabia. So that would be a big chunk of the sales. But the report also not indicating whether this would actually happen. And you have now currency
Starting point is 00:43:18 analysts coming out and saying, you know what, this seems to be a little bit of a bluff. We know that Saudi Arabia does not have the best relationship with the Biden administration at the moment. And we know that the Saudi real is pegged to the U.S. dollar. So what happens if the U.S. dollar currency actually weakens? That will have repercussions for their kingdom as well. We have seen, of course, given the news, the bump in the yuan, which had already weakened, given the broader sell-off in Chinese assets that we saw. But I guess it's the idea right now that if you look at history, could this happen? Well,
Starting point is 00:43:52 yeah, we have seen other dominant currencies in the past, right? What the Dutch currency in the 17th, 18th century, the Spanish dollar, then you had sterling, then you have the US dollar. It could happen. It seems that the conversations are there, but perhaps not yet. Yeah. It took like world wars for that. Right. World War I, then we had Bretton Woods in 1944. Oh, we have to have world war. Right. These currency changes during war. Well, that's why we're in World War III right now.
Starting point is 00:44:26 The control of the financial system is at stake. And so, they're kind of brushing this off as, well, they've been talking about it, but it's only Saudi Arabia is only doing this with sales directly to China. They're staying
Starting point is 00:44:44 petrodollar with the rest of the world. But this was March. That was March of this year. The entire petrodollar is coming to an end very, very soon. It will devastate the U.S. economy. And not just the U.S. economy, but a lot of the world, too. Anything that is pegged to the dollar, that's why there's going to be,
Starting point is 00:45:11 there will be a stampede to BRICS. Doc, it'll be a stampede. There'll be countries you won't even, you won't, today, you couldn't imagine would join BRICS tomorrow. There'll be a stampede. Those rats will run. You'll be surprised the countries that will desert the United States and join this new alliance because the U.S. dollar will be weak. And if a country has pegged its currency to the dollar,
Starting point is 00:45:48 for example, Panama. Right, that's a great example. Panama's money is pegged to the US dollar. You have Caribbean nations, you have countries around the world that are dollarized. Right, and they've done that in the past because generally the US dollar has been stable over a long period of time.
Starting point is 00:46:04 Yes, there's fluctuations, but those fluctuations aren't as great as other currencies. And so they can bet on it. Right. So one of the good things about the U.S. dollar, Doc and I have done a lot of international travel in the last four or five years, is that just about anywhere in the world, you can buy things in another country with U.S. dollars. They gladly take it. Yes. I personally know you can do that in South Korea.
Starting point is 00:46:31 You can do that in the Philippines. You can do it in Jordan. You can do it in South America, a lot of countries. That will come to an end immediately when the petrodollar dies. Nobody will want the dollar. You'll go to another country and try to hand them dollars, and they'll go, no, give us Chinese yuan.
Starting point is 00:46:54 There'll be signs saying, no dollars, yuan only, because that's the new reserve currency, the yuan. That's the plan. That's where they're taking this the yuan. That's the plan. That's where they're taking this. I've got a video. This is about seven minutes. And it's an information program that explains the US petrodollar.
Starting point is 00:47:19 I've tried to explain it various times over the years. It's a deal that Richard Nixon and Henry Kissinger made in the 70s when Nixon took the U.S. dollar off the gold standard. Kissinger came up with this brilliant plan, we'll back it with oil. I mean, I don't think it should have been done. But it did and it worked. And it worked up until now. Right.
Starting point is 00:47:47 And now Kissinger's about ready to go and the Petrodollar's ready to go. But before they even got to the 70s and everything, you have to go all the way back to Bretton Woods. And a lot of people don't understand what Bretton Woods is all about. So it might be a good idea to kind of walk people through this and to help them understand, you know, where this all began, how we ended up to where we were with the petrodollar and what it looks like today. Okay, let's watch the video. The simple definition of a petrodollar is the revenue from oil in mainly Middle Eastern countries, a revenue that is denominated in U.S. dollars, not the currency of the countries where
Starting point is 00:48:22 the oil comes from. All those nations that export their oil must sell it in dollars, so if the dollar loses value so does their oil. But countries also peg their real currency to the dollar. That means fixing their currency with the dollar, so if the dollar fluctuates so does their currency. If the dollar value lowers so do the goods and services of that country. This ensures those countries don't experience wild swings in inflation or deflation. So what exactly is the relation between petrodollars and real dollars?
Starting point is 00:48:52 Welcome to this episode of The Infographics Show- How Petrodollars Affect the US Dollar. We are told that the beginnings of this petrodollar system was in 1944 at the Bretton Woods Conference. This conference was one of the big events of the 20th century, because it's when it was agreed that the new global currency would be the US dollar. America would be the only country that could print this currency. This is when we saw the formation of both the World Bank and the International Monetary Fund. As always, the website The Balance gives a very detailed account of what this would mean.
Starting point is 00:49:24 The Balance explains if a country's currency value became too weak relative to the dollar, the bank would buy up its currency in foreign exchange markets. That would lower the currency's supply and raise its price. If the currency became too high, the bank would print more. That would increase the supply and lower its price. Forty-three countries signed up in an effort to rebuild the world after a devastating world war and to cooperate better with each other in terms of trade. The Bretton Woods website tells us,
Starting point is 00:49:50 It was felt by the leaders of the allied countries, particularly the US and Britain, that a multilateral framework was needed to overcome the destabilizing effects of the previous global economic depression and trade battles. It ended anyway in 1971, when the US suffered what is called stagflation, and that means a combination of inflation and recession. This had a negative effect on nations that belonged to what is called the Organization of the Petroleum Exporting Countries. Most of the member countries are in the Middle East, with others being in Central America
Starting point is 00:50:22 and Africa. Then in 1979 we got something called the US-Saudi Arabian Joint Commission on Economic Cooperation. In that agreement Saudi Arabia agreed to use American dollars for their oil transactions. These dollars would get back into America through contractors and so they were what are called recycled petrodollars. This deal with Saudi Arabia was the start of this petrodollar. Was this good for the US? Investopedia tells us,
Starting point is 00:50:47 The petrodollar system elevated the US dollar to the world's reserve currency, and through this status, the United States enjoys persistent trade deficits and is a global economic hegemony. We all know that in the world the most in-demand resource is oil. It makes oil-rich countries very wealthy, and it's priced in dollars that makes the USA's currency the most dominant currency in the world. Some say this gives the USA something called exorbitant privilege, which means, according to Investopedia, the USA can perpetually finance its current account deficit by issuing dollar-denominated assets at very low rates of interest, as well
Starting point is 00:51:25 as becoming a global economic hegemony. The USA can just print its own money, which is nice for the USA as it can pay off its massive debt with that money. Imagine you were broke, but could just borrow and then just go to the money tree in the garden to pay off the debt. There are many critics of this system with one economist writing, The amount of debt, leverage, deceit, corruption and fraud in the economic markets, financial system, and in the energy industry are off the charts. Another bonus for the USA is that it can just buy its oil with its own products, which might
Starting point is 00:51:57 mean massive construction contracts, expensive military planes, or technologically advanced tanks. Saying that, as we write this Bloomberg is saying the dollar as reserve currency might be coming to an end and the days of exorbitant privilege are fast running out. Why is that? We'll let Bloomberg explain. With the current US administration policies of unilateralism, trade wars, and sanctions increasingly affecting both friends and foes, the question arises whether the rest of the world should diversify away from the risks of the US dollar and dollar-centric
Starting point is 00:52:29 finance. In 2017, Reuters told us that the power of the petrodollar was already waning. Back in the day, when the USA was busy spending big on oil and petrodollars were going into oil-rich nations and being recycled back out, all was good. But these days, according to that report, not as much of the money is coming back out. These countries are shoring up finances and safeguarding stability at home, said Reuters. Where all the oil money goes, said that report, is hard to say, but a good chunk of it ends
Starting point is 00:52:57 up in offshore financial centers such as the UK, the Cayman Islands, Ireland, Switzerland, Belgium and Luxembourg. Reuters isn't alone. Another journalist wrote this, The United States' ability to maintain its influence over the rest of the world has been slowly diminishing. The USA's dollar monopoly, we are told, might be coming to an end. One of the reasons is that mass consumers of oil, China as well as Russia, have been
Starting point is 00:53:21 setting up deals with oil-rich countries, and nope, they are not doing these deals in the US dollar. The article says, as the tide continues to turn against the petrodollar, eventually even our allies will start to question what best serves their own interests. Forbes writes that there will likely be something called the petroyuan, but that doesn't mean that the yuan will become the reserve global currency. Forbes tells us that everyone has it wrong, and that the USA doesn't enjoy a huge advantage because oil is sold in dollars. The US economy is the central economy in the global system because it is the most open,
Starting point is 00:53:54 innovative and productive economy in the world, and because of this the US dollar is the most convenient liquid and reliable medium of exchange, said the article. Can that be challenged? Not yet, according to the story, solely because no other currency can match that. China also has massive reserves of US dollars, which might seem like the country has its hopes on the dollar remaining strong, although some critics say China is writing off the dollar and along with Russia is buying lots of gold. These critics tell us that those countries believe the dollar is about to inflate.
Starting point is 00:54:25 There are likely more doomsday believers than there are positive views as we saw in the Forbes piece. Headlines like this are all over the media, end of petrodollar hedge money may happen soon, and badly impact indebted America. That particular article tells us America has been playing hardball with too many countries, and a growing number of countries seek to end the dollar hedge money. And the last part is the key, is that there are countries all over the world that are getting sick and tired.
Starting point is 00:54:52 And I think that video was made a year ago. Yes. And that was then, and this is now. And Saudi Arabia is leaving the USA this week. So a year ago, Saudi Arabia was an ally of the United States. We were making deals during the Trump years. We were making deals to sell them nearly a trillion dollars worth of military equipment.
Starting point is 00:55:15 Have we forgotten that just two days ago, we showed a video of the grandson of the king of Saudi Arabia threatening Joe Biden with jihad? Did you ever think you'd see such a thing? No, not a member of the Saab family saying to the president of the United States, let me remind you, this kingdom was formed in jihad. He was saying, how dare you threaten us? We go back to that story earlier. Joe Biden says there's going to be consequences for Saudi Arabia that the grandson of the king was saying to Joe Biden this week in that tweet, how dare you threaten us? we were formed in jihad.
Starting point is 00:56:08 And we'll do some jihad on your head and we'll teach you a lesson, Joe Biden. What is the jihad? See, jihad doesn't mean they're going to do head chopping. Jihad can be, we're going to chop the petrodollar. Right. We're going to teach you a lesson and we're going to bring the petrodollar. Right. We're going to teach you a lesson.
Starting point is 00:56:27 And we're going to bring you to your knees. You challenged us. You dared us. You've insulted us. We have no idea what Joe Biden says in private. We have no idea how he talks to people. We've seen the video many times of how he lectured the president,
Starting point is 00:56:44 the former president of Ukraine, Poroshenko, and said, you know, you've got six hours to fire the prosecutor. Is this the way this man operates? And we've also seen the way he talks people off the cuff when he doesn't think the camera's running and everything. Oh, we've seen the way he talks when the cameras are running. He's very rude and arrogant, but people are fed up with it.
Starting point is 00:57:09 This next story, I don't think we're going to have time to go through the entire article. This was printed by the U.S. Gold Bureau. It's a company that markets precious metals, but it's based on Biden vows consequences for Saudi Arabia. And so they, we broke it down. It started with what is the petrodollar? And they give a description that 80% of all global oil trade happens in US dollars. And they- As oil is purchased, the dollar gets recycled. That's how it becomes a petrodollar.
Starting point is 00:57:50 Then we also said what happens if the petrodollar ends? Well, a lot of people are suddenly holding dollars. And what do you do with it? If everything starts trading in another currency, even if it's reduced just a little bit, it can be a hard hit on the actual dollar. So if they quit trading in petrodollars, then it becomes an adverse effect on the real dollar.
Starting point is 00:58:17 So, Doc, the U.S. Gold Bureau said that they see three reasons to believe that OPEC is moving away from the U.S. dollar. And the first indicator is that they were negotiating selling oil to China and Yuan. China is Saudi Arabia's largest customer, purchasing about 2 million barrels a day. The U.S. only purchases about 500,000 per day. Allowing China to purchase oil in Yuan would reduce dollar oil transactions by about 20% daily. The second point, Saudi Arabia has applied to join BRICS. We've talked about that this week. Saudi's application came after Iran had already applied.
Starting point is 00:58:58 Doc, I didn't notice. If you look at the last line, they said the very things that we just said. It is Saudi Arabia handing divorce papers to the West. I didn't even see that. Didn't even connect until just now. The third point, Saudi Arabia's official website is saying that Saudi Arabia plans, now they're public about this, plans to diversify its economy by 2030. And we've had indications of this over the past several years that we've reported. 53% of the entire Saudi economy is in oil. Almost all of that's traded in dollars. The Saudi economy has a single point of failure, the dollar. Diversification aims to mitigate risk and have as many points of failure
Starting point is 00:59:37 as possible. The U.S. also has a 2030 plan that all government fleet cars will be electric. The U.S. intends to buy even less oil from Saudi Arabia, and China is willing to buy every additional drop Saudi Arabia sells. I read today Saudi Arabia announced today that they will produce 150,000 electric cars by 2026. Saudi Arabia, the oil country, is going from the combustion engine to electric cars. So the age of oil is coming to an end. They all got the memo. The use of oil is going to end.
Starting point is 01:00:22 I think they're setting 2030 as the target date. So, you know, what vehicles we have right now, enjoy them. It'll be about the last time you drive a vehicle powered by gasoline or diesel. The fix is in. All gasoline-powered engines, automobiles, are going to be phased out probably by 2030. It'll become increasingly difficult to even own a car that is powered by fuel. Right. And there are already U.S. states that have that in law.
Starting point is 01:01:04 Well, when there's no gas station, what are you going to do? When the nearest gas station is 100 miles away, you're going to drive over there to get gas and to drive back? That's what they're going to do. It's going to become difficult to even own a gasoline power. So we're seeing Saudi Arabia saying, not only are we going to get rid of the petrodollar, we're going to get rid of the petrodollar, we're going to get rid of petroleum. They're going into a technology-driven economy.
Starting point is 01:01:37 Yes, and we've seen that at conferences that we've been at over the past several years, where they've said data is the new oil. That will be the new oil. Their number third reason. Yeah, China, as we said, China's official website said that it plans to, you know, do all this diversification till 2030. So the petrodollar storm will be one of the most rapid inflationary periods ever that will devastate everything in its path, including every retirement account, investment, and asset priced in dollars. At this moment, the current splinter in the U.S.-Saudi
Starting point is 01:02:11 relationship is another man running into the village telling people to prepare. Gold and silver are considered currency agnostic. Currency agnostic means an asset has value in every currency. Gold will still have value even if the dollar doesn't. Would a currency agnostic means an asset has value in every currency. Gold will still have value even if the dollar doesn't. Would a currency agnostic portfolio be beneficial to shelter wealth? And ask the question, what do you undo when the dollar storm arrives?
Starting point is 01:02:36 Will you prepare or will you react? And so as people prepare for the future, as you're a viewer or a listener, you have to ask yourself the question too. If the petrodollar fails, which causes cascade effect on the dollar, what happens to you personally? What happens to your retirement account, your 401k, your 403b, any stocks, long-term bonds that you've invested in, those suddenly lose tremendous value instantly. Hard
Starting point is 01:03:10 currency, still, because it's pegged in various world currencies, but you still have to buy it in dollars if you have dollars, if that's all you got. Yes. Doc, I just remembered a dream that I had
Starting point is 01:03:25 maybe about five, six years ago. You'll remember me telling you about this dream because I believe it's about the economy. I hadn't thought about this dream for a long time. I was standing outside in the front yard. I guess it was a subdivision i was living in okay it was a typical florida-like subdivision you know gated community and all that kind of stuff and i'm standing outside in the front yard near the street and i was on my phone talking to my
Starting point is 01:04:01 son jeremy and we were just normal father-son talk on like a Saturday. It seemed like a Saturday because of the things that were happening in the neighborhood. Right. And so we're just having regular father-son talk, and we're joking and laughing and sharing information and so forth. And I remember people were, neighbors were in the driveway. Some people were washing their car. Some people were polishing their boat.
Starting point is 01:04:31 Typical Saturday. Other people were mowing their lawns. Some people were gardening. Some people, kids were playing with their toys and so forth. And all of a sudden, water came in over the whole neighborhood. Yeah, I remember this story, yes. It was like up, it's like ankle deep.
Starting point is 01:04:54 And I said to my son, I go, what the? Something just happened, I said, this wave just came in, this ocean wave just came in. The whole neighborhood, a wave of water just came in. And Jeremy was saying, well, how deep is it? And I said, it's up to my ankles. And we're kind of laughing about it and everything. And we keep talking and then another one comes in
Starting point is 01:05:19 and it was up to my knees. And then a third one came in and um the third one doc actually knocked me over and i had to grab the mailbox a hold on and i'm still laughing i'm telling my son about it i said man another one just came in and almost knocked me on the ground i grabbed the mailbox to stand up and jeremy was laughing say hey dad, hey, Dad, man, you better hang on tight. We're still not taking this seriously. We're not taking it seriously.
Starting point is 01:05:52 Nobody in the neighborhood was taking it seriously. Everybody continued what they were doing, polishing their cars, everything. Three waves came in. Each wave was bigger. But it's disrupting, you know. Then in the dream, I looked up and the biggest tsunami wave imaginable was standing behind the neighborhood. Massive wall.
Starting point is 01:06:26 And I remember water, you could actually see the water breaking over the top and coming down this wall. And it was like something was holding it, Doc. The wave was there, but it was being held in place. But I'm watching the water come from the top of the wave
Starting point is 01:06:46 and run down the front of the wall of water, but the wave is not coming forward. But it's black, it's menacing, the sky has turned dark, there's lightning, it's really creepy. You know, the sky's got that eerie, purplish-pink look and everything, and I'm describing it to my son. And Jeremy is saying, Dad, you need to get out of there.
Starting point is 01:07:11 You need to run. And I said, it's too late, son. It's too late. And I dropped the phone. And in the dream, I could still hear my son's voice coming through the phone on the ground. And he's saying, Dad, run, get out. And I started walking towards the wall of water,
Starting point is 01:07:37 rebuking it in the name of Jesus. And that was the end of the dream. What did it represent? Suburban America being wiped out by three waves. What's it hitting? Automobiles, boats, real estate. The third one, not the third one, the fourth one. The fourth one is so big that there's no way to escape it.
Starting point is 01:08:11 No way. I think the fourth one is the end of the petrodollar. I think it's so devastating to the United States that the economy cannot hold on to that point. We will see triple digit inflation. You think that's impossible? Look at pictures of the Weimar Republic in the 1920s in Germany. And look at the pictures of people pushing wheelbarrows full of German marks to go to the grocery store to get a loaf of bread. Or pulling a
Starting point is 01:08:56 wagon full of money to buy something at a store. That's how bad inflation was. And what did that economy produce? Adolf Hitler. Hitler was elected because of that economy. Hitler said, Great Britain did this to Germany, referring to World War I. The Allies did this to Germany. They have destroyed us after World War I. They destroyed our economy. They put sanctions on us. Sound familiar? All right. The people of Germany voted for Adolf Hitler and the Nazi party because Hitler promised to revive Germany, to bring back the German economy, to relieve the stress that the German people were under. And when people are under that kind of stress, they will vote for Hitler. And that's a warning for the American people. When this financial storm comes,
Starting point is 01:10:06 a lot of people will vote for Hitler in the USA. There'll be a strong man who will promise to revive America and he will lead some type of fascist, communist political movement. And people will rally around it because it will be, we have to get behind this guy. But this crash is coming. And it will be devastating to the U.S. economy.
Starting point is 01:10:41 Look, Turkey has, what were the numbers that we saw this year? 80% inflation rate. At one point, yes. That's this year. See the dollar is doing this to various countries. The inflating of the U.S. dollar, the flooding the markets with U.S. dollars has hurt other economies. And so, Doc,
Starting point is 01:11:10 those nations want to get away from the dollar. They're tired of it. They know what the American ruling class has done to the rest of the world. And they also know what the American administration does to those that don't go along with it. Yeah, because the dollar is backed with lead.
Starting point is 01:11:28 I've got one more video to show you, and this is an author of a book about the death of the petrodollar. Let's watch it. The petrodollar is actually a device invented by Kissinger and Nixon. The standard of living of all Americans can be traced back to here, the vast, oil-rich deserts of Saudi Arabia. In the early 70s, after the Arab crisis happened with the oil embargoes, OPEC basically tripled the price of oil to the Western world. And at that time, America realized that they were vulnerable because they were importing
Starting point is 01:12:10 about 70% of all the oil they consumed. To secure a reliable foreign source of oil, U.S. President Richard Nixon sent his Secretary of State and National Security Advisor Henry Kissinger to Saudi Arabia for a secret meeting. The result was a pact that still stands to this day. If Saudi Arabia, which at the time was the world's largest producer of oil, would sell the oil in US dollars, America would defend Saudi Arabia and make sure the house Assad would stay in power. As a direct result of this US-Saudi agreement, all other oil producing nations also adopted the dollar as the de facto medium of exchange.
Starting point is 01:12:56 Demand for it increased exponentially all over the world, and soon it had a new name, the petrodollar. Your currency is only as strong as the demand for just like anything else a supply and demand why the petrodollar is important it causes a demand for the US dollar a lot of Americans don't realize that over 70% of all the hundred dollar bills in the world are actually outside of the US there's more hundred dollar bills in the world are actually outside of the US. There's more hundred dollar bills in Russia than there are in America.
Starting point is 01:13:28 This stockpile of US dollars in countries around the world is because oil is bought and sold using the greenback. If oil starts trading in non-petro dollars such as gold or a basket of currencies or if China and Russia start trading in yuan and ruble rather than US dollars, that demand isn't there. And the way of life for the average American will be done. It will be worse than the Great Depression.
Starting point is 01:13:59 To date, anyone who's potentially threatened the status of the petrodollar hasn't fared well. Libyan strongman Muammar Gaddafi publicly pushed for a pan-African gold-backed currency that he would trade for Libya's oil. He was killed during a US-backed revolution in 2011. And just a few short years before, Iraqi dictator Saddam Hussein advocated selling oil for euros. At this hour, American and coalition forces are in the early stages of military operations to disarm Iraq. The U.S. invaded under the guise of looking for WMDs.
Starting point is 01:14:39 Iraq did not have any weapons of mass destruction. And interestingly enough, after the Americans invaded, took over, put in their own government, the whole concept of selling oil in euros never surfaced again. Today, many countries resent the current petrodollar system. And their leading spokesperson is none other than Russian President Vladimir Putin. Americans should be very worried about what Putin can do. There is a new Cold War going on. It is the Colder War. That is exactly what's going on. And who's in the center of this push? Vladimir Putin.
Starting point is 01:15:20 And the petrodollar is so crucial to the Cold War. The only thing holding America right now at the top is the petrodollar. And let me make it very clear. If the petrodollar dies, so does America as a superpower. The America's ruling class took out Gaddafi because he wanted a gold-backed dinar we we talked about this many times back when qaddafi was alive right talked about it many times on true news he wanted a gold-backed dinar and he also told the amer, you want to buy Libyan oil? Well, I'm selling you physical real oil, but you're paying me with imaginary money.
Starting point is 01:16:14 I want gold. What did they do to Gaddafi? They killed him. And more. And more. They bombed Libya. He was murdered in a very brutal way. Then Hussein, Saddam Hussein in Iraq. He also, he was talking about selling Iraqi oil in euros. What did we do? We went to war and we killed him. That video was 2017. Five years ago. Yes. And it ended with Vladimir Putin saying, this is the next guy who's going to challenge Putin and destroy Russia.
Starting point is 01:17:06 That's the plan. And a billion people may die in this fight. Because it's going to go nuclear if it goes all the way. America's ruling class is willing to kill a billion people to grip onto the financial system. We're really talking about the Rothschilds and the banksters. It's really who we're talking about, the Rockefellers and the international banksters. It's not the U.S. government. It's the cabal behind the government
Starting point is 01:17:46 it's the international banksters will they abandon America the Rothschilds will the Rothschilds abandon America and say okay it's a lost cause we milked America we got all that we could get out of it it's now dry
Starting point is 01:18:01 let's move over to the east let's take control of the east. I don't know. Or will they fight to the bitter end? I don't know. But Putin is the enemy right now. All the stuff about Ukraine. Look, Ukraine is the same propaganda line as weapons of mass destruction in Iraq. Yes. The very same. The same parties that tried to sell you on WMDs are the same ones trying to sell you on Ukraine right now. Yes. Just propaganda.
Starting point is 01:18:35 It's about holding on to the financial system of the world. We're living in amazing times. And all I can tell everybody is get as close to God as you can get. That's all I can tell people. I don't know what else to tell us. Just get as close to the Lord as you can get. Keep His commandments. Develop a close, personal personal intimate relationship
Starting point is 01:19:06 with your Heavenly Father and serve Him with all your heart, mind and soul love Him and serve Him all of your days and let Him take care of you His saints through time
Starting point is 01:19:23 have lived through many different countries, different governments. I mean, kingdoms come and go. But the church has always remained. Since, for 2,000 years, how many empires have risen up and then fallen? But the church is here. The true church, the body of Christ, not man-made religious systems, the true church. It is here. It's alive.
Starting point is 01:19:56 It will be alive. It will succeed. He will protect his true church. Governments fall. Governments disappear. Money disappears. And new money comes along. And new money comes in. That's the way it is. That's the history of the world. If you are a citizen of the kingdom of God, your life isn't destroyed if the country you live in changes. Because we're just pilgrims passing through on our way to New Jerusalem. Yes.
Starting point is 01:20:32 So don't get emotionally distraught over watching your home country implode. Because we are watching it right now implode. No matter how much you love it. Yeah, I love it. I love America. But the America that I love is gone. It's been gone for a long, long time. And we've just been hanging around
Starting point is 01:20:55 at the cemetery waiting on it to come back. Is that what we've been doing? Basically, yes. Singing patriotic songs at the cemetery. We're at the graveside still singing. Yeah. I hadn't thought of it that way, Rick. So let's pray. I want you to have peace. I don't want you to be fretting about money. We told you a lot that's pretty heavy. There is going to be a major storm.
Starting point is 01:21:28 There may be a nuclear war. I hope it doesn't go that far. I hope that there's a settlement. It's not a settlement about the war. It's a settlement about the financial system. Zelensky's just a little pawn.
Starting point is 01:21:48 He's just a little clown. He's a paid clown. Don't be focused on the Ukraine war. Maybe there will be a settlement and they will divide up the world. I hope that we can get that kind of settlement without a world war using nuclear weapons. But I want to end praying a blessing of peace on you. Get close to the Lord
Starting point is 01:22:16 and become a giver. Not just one time, not just twice, a lifetime. Become a lifetime giver to the work of God. His gospel shall be preached in all the world. Then the end shall come. So make a vow to God that you're going to be a giver. You're going to be part of his kingdom. And whatever happens to nations, it happens. But the great church of God will thrive and it will be alive when Jesus Christ returns to gather his church unto him. Let's pray.
Starting point is 01:22:51 Gracious Father, Father, many of us, including myself, Father, we are concerned about the world affairs and we're concerned about the finances of our nation. But Father, you told us not to be anxious and not to be afraid and not to worry about these things. We are to put our trust and our hope and our faith in you. Father, I pray that your peace
Starting point is 01:23:21 would surround and cover and dwell in and over and in and behind and around all of your saints, that they would be encompassed in your peace like a cocoon, that they would feel inner peace, that they are covered like they're in a cocoon and the cares of the world can't trouble them. Give them that kind of peace, Father.
Starting point is 01:23:58 Draw them close to you and show them what they should do. Give each one of our brethren specific individual instructions for their lives so that they will go through this coming storm and that they will be the head and not the tail and that they will prosper and not lose, that they would be a blessing to others who are without.
Starting point is 01:24:26 Let your church be triumphant, Father, and let it be a testimony to those around them that you take care of your children. We ask this in the name of Jesus Christ. Amen. Amen. Love you very much. God willing, Doc and I will be back here on Monday. God bless you.

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