men's work actively draining natural resources and using the local population as a cheap labor source. this was causing major protests and led to a rebellion. in 19 o 4, the hero and nama tribes rebelled against german colonial rule. kaiser wilhelm, the 2nd was fully determined and ordered to suppress the rebellion with the utmost severity, against the inhabitants of namibia, germany through its 15000 well equipped army. all around the country concentration camps were built. in humane medical experiments over citizens were conducted within the period of 4 years. the germans killed up to 60000 people, among which there were 80 percent of the hero tribe, and 50 percent of the nama tribe. the events in south west africa are called the 1st genocide of the 20th century, and not without reason are compared to the holocaust just 2 decades later after the

massacre in nam may be a hitler's assault unit foot on the same brown colonial uniform which voiced the world into the chasm of the 2nd world war when i was so seemed wrong when i was just a shape out, the steam becomes the african and engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground. ah ah.

hello and welcome to cross hawk where all things are considered. i'm peter lavelle . sometimes the law of unintended consequences kicks in with a vengeance take, for example, washington's addiction of sanctioning countries around the world for short term political gain. the unintended consequence is the weakening of the american greenback and american power cross shocking the u. s. dollar. i'm joined by my guess rick sterling and walnut creek. he is a journalist at anti war dot com in winnipeg. we have rebecca decides she is a professor at the university of manitoba and here in moscow we have ralph niemeyer . he is chairman of the council for a constitution and sovereignty or at cross sack rose in effect. that means you can jump any time you want. and i always appreciate, rebecca, i go to you 1st in winnipeg, we hear a lot of stories. i talked about this

a number of years ago, the end of dollar dominance. now it's becoming a very common theme in financial media, political media even. what is the danger or what, what is the prospects for the west dollar as more and more countries are trading in their own currencies? go ahead in winnipeg. i think that deeper than ever the dollar has always been very problematic. people, even it's most ardent advocates have already said it's not perfect, but it's the best is to leave got it cetera. so it's always had problems in serving the was reliably stable ian neutrally. but today the u. s. economy is weakening. it's financial systems, contradictions that exploding all over and its presence in world trade is finishing all these up, put together, then what you're getting is essentially the rest of the world seeking and now finding alternatives to the dollar. this is the big change now, is that the rest of the world that has never been satisfied. and remember,

for the over pending majority of the world, the, the word majority as i think russians that increasingly calling it the, one of the problems that donna system or the major problem has always been a massive under valuation of de currencies, visa, visa donors. so the world has been selling the united states and the rich countries in general, things at a far lower price than they should be getting. so for all these reasons, now that alternatives are available now that the representation of the donor system is so blake, they are seeking and finding alternatives well rate that's really the point to mean it's trust in this currency currency, if it's used as a political weapon against real or imagined adversaries, it diminishes its whole purpose as being a f eoc currency here and more and more of the world is waking up to that and, and as the professor pointed out here, it's inherently unfair. it's a rig system and people have alternatives now,

and this is what we're seeing. go head break in walnut creek. yeah. well they, they created the alternative speakers and countries have increasingly been been punished for relying on the dollar so that the u. s. has given countries the strong motivation to move away from them. at the same time, we've seen the u. s. national debt exploding, where they could just print money as will inhabit, accepted around the world. and countries are seeing this as well the, the national debt of the us as accelerating to over one trillion dollars a year. and many countries are looking at that and saying, well, why can you do that? why can you punish us by effectively for, to use the dollar? so the us itself has given countries around the world, the mode of to move away from the us dollar route. essentially, the same thing applies to the euro,

because as the us manages its economy in its interests around the world, it doesn't hesitate to punish europe and damage to the euro. i mean, it's really extraordinary. we talk about real and imagined adversaries. i thought europe was americans, friends, but no, that'll be the treasury department will stab the year on the back and a drop of a hat. go ahead, ralph. yeah, it's absolutely true. and of course, you also have to, to see that parts of it is owed to the financial crisis that was never solved in 2000 a, 2009. it was only fresh depths that were created trillions hanging over us all. and this is of course collapsing now. so now people are questioning whether the dollar is that all the reserve currency and the longer and probably it won't be because now the virtual reality hits us all back. i mean, we see now that virtual currencies on the rise, and this will be the new world order and it will be different new world order that

they had been planning for in davos or in washington or california. so this is the new world order that i see happening here now with the brakes. and i wish that germany would be part of that because we are talking about a real economy with production and sources. and i want, i want to get to that. i want to get to that in a moment here, radically. i've asked a number of economists to me. it seems to me and explain to me if i understand this correctly as more and more people countries reject to us dollar for as a means of trade. where do all these dollars go, or isn't there a tendency for them to start flowing back to the united states? isn't that create the possibility of hyper inflation will be overwhelmed with all these dollars that have been printing a quantitative easing? all of that, it's good. it's good, it's good, like a back to me, it's going to go back to the u. s. because there's no one else that wants them. is that a fair description?

yes, absolutely. so essentially, all the dollars that, you know, so feet of dollars that are around the, was the rest of the was the be selling dollars in buying of the currency. so yes, has been essentially printing the. we've never seen these kind of ass operates in this where they've seen the countries such as the way a lot of the go network gas stations was seized by the united states. a national resource of the bins royal in people was, was just seized. more recently, we saw the, the afghan national reserves that were in the u. k. dolan. and apparently some of the money is being given to american victims of 911. so how does that figure people around the world are looking at that? so you know that theft of a national currency, the national reserve is supposedly the holdings were said in the u. k. it turned out to be they were totally not safe as well as individual russian

investors and russian billionaires. but their money was safe in the u. k, they found out otherwise quite absolutely. in ralph, we have the european union, at least members of the european union, speculating how they can seize illegally seized because there's no law for this right now in the visuals assets and to pass them off on the others. presumably the elite and in care of here. i mean, this is just a, a wide array of illegal activity. and all it does is undermine the competence people have an international financial institutions. ralph? yeah, and it is, as you said before, and the fear currencies are trouble and risk now because of course, dave finance wars with that and did type in hyper speculation like trading pro

wasn't all that we've done. now we have at the same time that the real purchasing power, the purchasing power parity that has called has increased for the 1st time ever and served passed the one off the g 7 by the bricks, countries. so it's 30 point one percent 30.5 percent towards 29 percent or so after breaks that they have more share off the global g d p. now this is for the 1st time that the brakes are overtaking the g 7, and that is the new reality. people have to wake up too. so why go for a fear at currencies any longer, if they are not, not providing the security that they used to. and of course, if you mentioned a war as, yeah, well, they are financed by these, by des, feared currencies. so if we take that away, i think a lot of the funding goes away for ralph. well, you know, we're talking about sanctions and seizures of assets here. what the g 7 countries will do in turn,

is sanctioning these countries that are going around the u. s. dollar and western financial, i mean it's a vicious circle, goes around and around, finish up for us before we go to the break ralph? yeah, it is true and that's what ruining is our country germany, our industry is suffering heavily and to population as well under sanctions to us make us impose and to tell us not to have gas and oil from russia. i mean, that is the most aggressive act towards germany in the postwar history. yeah. well that shows you how much our washington respects the sovereignty of other countries . i'm going to go to, we're going to go to a short break or after that short break. we'll continue our discussion on the us dollar. stay with our team.

ah ah ah ah ah ah

ah, the welcome back to cross talk where all things are considered. i'm peter beltran and you were discussing the us dollar. me, me okay, let's go back to winnipeg, professor ralph mentioned just briefly in the 1st part of the program about how other currencies are basing the value of their currencies on products on assets. and i think that's another reason why people are looking for alternatives because the u. s. dollars is kind of wind circle. we have a small group of people telling us what it's worth, what it might not be worth relative to this to that. but if it's backed by assets

by we to in grain and oil and all these other things here and has a real tangible meaning. and it's going back to some of the things you said earlier in the program about real price value of, of products around the world that are undermined by the us dollars. so this is another reason why people are looking for alternatives to get true value out of their products. go ahead. yes, i mean, definitely guidance is required. constant isn't historically backing a currency with a resource. usually gold has been one way of inspiring confidence. however, let me say that guarantees them says, all of these fit money, you know, you may choose to back them with a resource, but they are always money. and the confidence can also come from other sources. including, for example, knowing that the currency is well managed, is not over or under valued, etc. in relation to go to key commodities, including gold. but also you mentioned the oil copper. what have you? so if the value of the country is kept reading,

this is no different from backing it with resources. i mean, the china, for example, doesn't need to back if you, on with resources. if people believe that the chinese economy and the value of the you are the stable, the chinese economy is largest cetera, et cetera. so i think while it's a good measure, you can dig if there is a but section of a lack of confidence in your currency, it's not strictly necessary. confidence can come from many sources. that's very good point here. it's about how much competence you have any, how well it's managed as a professor pointed out here, and i think there's a recklessness to the way the us dollars been managed. because if it's, if the purpose of your currency is to derive political aims. i mean, i've pretty much want to stay away from that particularly, but i don't agree with those policies here. and, and obviously we see countries like china in india and others really large emerging countries, brazil, for example. they're seeing how poorly the u. s. dollars being managed and going

back to some of the things that ralph has to say, how about a basket of currencies, you've got to spread out your risk right there. and i think that's what smart money is doing. rick and well, walnut creek. yeah, well exactly. the bricks, country, countries are looking at creating a basket of currencies so that they can conduct all the among those major countries in. and if we look at the, even the holdings of us national security, the biggest holder is japan. in the last year, it reduced its holdings in u. s. national to pressure is a by 15 percent from $1.00 trillion $1.00 to $1.00 trillion dollars. the 2nd biggest boulder is china, which similarly reduced. ready holdings by 15 percent in the, in the last year from $11.00 slightly over 1000000 dollars to point 85000000 dollars. so we can see that that's a, that's

a pretty clear indication that that countries are having a waning confidence in the us dollar. and seeking to reduce their holdings at the same time, i think it's clear that china does not want to see the u. s. dollar crash. the u. s . is still the largest trading partner with china, and they would see a lot of negative consequences of a sudden crash of the u. s. dollar. but, but we're seeing clear signs that many countries around the world. most countries around the world are, are, are seeing, seeing that need to move away from the reliance on the us dollar. well, exactly, ralph we, as i mentioned, we have china in brazil. they've agreed that companies have agreed that they will trade in their own currencies. and probably one of the big stories of the year is that saudi arabia won't exclusively sell its oil in dollars. i mean, i don't know if people in the treasury department are listening here. the petro

dollar is really the fall from the gave the west, so much prosperity since the 19 seventy's. and, you know, we see this huge direction directional change in the, in the energy market here. that is going to diminish american power. but what i worry about ralph is that when they know this is diminishing element is facing them, it will make them more aggressive against those don't want to trade. essentially, if they're going to force people to trade in dollars, that's a very dangerous environment. i think that's right, and we see the reasons for all the wars that the united states are engaged in at the moment, indirectly in ukraine, but also they're preparing for war in taiwan. if you look at that, it looks like they are trying to claim their stakes the last time as long as they still have the power before the new world is being constructed. and i think it will

be much more a road of sovereign nations, like in africa, a lot of nations are breaking up. and of course you mentioned bricks, early of a job are already of super power all together. so we will see a change that is as radical as in 19891990. about 33 years ago when the berlin wall fell. no one had expected that to happen a year before. so i think now with the conflict in ukraine being to capitalizing effect that we see the world through, we see that also it will come to a new world, probably missed a my cry. who recently went to china, who said that they should not and frowns, should not into european union, should not stand with, with america in all aspects. and the longer that is probably where most europeans would, would become various and they are breaking up at the moment. well, i mean, the whole premise of the european union with prosperity and security and they're,

they're getting less and less of both as time goes on. reco. explain to me. i mean, what could it be you? it's wanted to reverse this trend. is there anything that could do? no, i think that's. that's what i was expecting. go ahead. yeah. and that's a really interesting question because, you know, look at it this way, as you, your says, pointed out the weapon i vision of the us dollar is boomerang being back on the united states. it's making, it's not making the dollar stronger. it's making the dollar reger so incident. this what happens when the only weapons you have at hand actually have a counterproductive effect? it actually is like, you know, the only weapon you have when you're sitting on a solidly mother tree is a saw. and all of that helps you to do is got the limb on which you are sitting, right? that's the situation. the dollar is in the united states. however, at the same time, we'll continue to use these weapons counterproductive as they are because you know what, they don't have a plan beach. they don't have a plan deal saying,

you know what, we should settle down to a mighty currency would the should not try to impose a dollar on the was et cetera for the last century and more they have tried to impose the dollar on the rest of the world, and the result is, is that this has never fully succeeded, and now it is receding more rapidly than ever. the united states does not have any good weapons, but it is not going to stop trying. well, i mean reca, if we had a multi currency world, it would be far more competitive, isn't that better for everyone? it looks like the west, particularly those the worship, the u. s. dollar. they'd a poor competition because if you're competitive it, you get a better view, but we are production costs. you, you are lower them, you have lower prices for your consumers here, but that's not what the dollar is for. the dollar is for foreign policy dreams of the people inside the beltway. yeah, yeah, that's exactly right. and the majority of the population in the united states is not benefiting from that policy. but i think there's

a lack of awareness or ignorance in the us about about these international going on and the the increasing move away from the us dollar. just, you know, in the last days or the last week or so, we've seen that. we've seen the briggs countries confirming that they're going to move away for to a different due to a different tra, trade in a different currency. saudi arabia is joining the shanghai cooperation organization . all of these trends are, are happening and, and, and the u. s. population is largely unaware of it and unaware of what of the, the status of the u. s. dollars. they just just keep raising the ceiling on the national debt without, you know, they don't like rhetoric. i was saying there does not seem to be a plan b there,

there needs to be and that should be part of the discussion in the upcoming election in the, in 2024. but so far we've heard nothing of that. yeah. ralph and they did these political leads in the west. all they want to do is take the can down the road. maybe it's somebody else's problem. i mean, not too many years ago. i couldn't remember when the us national debt was like 9 trillion dollars in and that was a lot of money. and now what, it's like $32.00 trillion dollars and that's probably underestimated that. ok. i mean, there seems to be no political will to try to reverse this trend here, but then again, it wouldn't generate any political dividends for the people in power. go ahead, ralph. well, i think it only shows that and raises the question which economic system do we want to live under? we have seen socialism in this country fail and, and the eastern european countries fail 33 years ago because the lies can't became

too big socialism, imploded capitalism. explodes, that's why sees the wars and all these steps that are being created. they are now raining down onto the goods markets. this will cause a lot of tragedies for everyone, also in the united states, but around the globe. so i think the question is, is there a way possible and is that the new economic system we will see evolved from, from these crisis. and maybe this is for the next discussion that we should have. how would we see when we get out of the crisis is after all these wars, how do we continue? and i think discretion is more about the economy than about any military alliances, i think says, well, i'm kind of an old fashioned guy. i think the economy should be about the well being of every one of people it should be caught. and that's, we've lost that we have lost that because of politics because of ideology and the

people are being left behind and radical is really pointed out. the most important thing here. let people in the global south get true value for their work and their products at something the west because we'll have to, we'll deal with and it's going to be a harsh reality for all. it's all the time we have. i want to thank my guests in walnut creek, winnipeg, and here in moscow, and want to think our viewers for watching us here are t c you next time. remember the news news is the aggressor today. i'm authorizing additional strong sanctions. today, russia is the country with the most sanctions imposed against it. a number that's

constantly growing up in the future list. of course, when you become a bill in your city, mostly mine or wish you were banding all in ports of russian oil and gas, new g i. g with info. let me know when you have regarding joe, by imposing these sanctions on russia has destroyed the american economy. so there's your boomerang with with both, both the models. you need to do both nelson's new. please deal with

a, with a lot of them bought a they need to leave, you knew that because nobody with us the personal number. you have a good a a new pictures emerged reporting to show

the perpetrator of new ceilings, most brutal mass shooting trade with ukraine's extremist off. but tell the i'm going to go through that and also ahead on the program with so interesting. it's still incredible to see what this looks like and so on or to correspond. i mix the words they capture will use to transfer the 1st crew to fill about movie in space. act worth part of our special coverage of rushes. cosmo, norfolk state account. that's the world march the 6th, the 2nd anniversary of mankind reaching outer space with the exploration of the.