so it ended up being a big symphony of clanging kitchenware, punctuated by the stick out with tear gas blasts. but the actions, a french law enforcement and the justice system are now going much further than just tear gas. french authorities have now reported the, opened an investigation into an incident earlier this week in the eastern french city of glen novela, where a mom was accused of beating and setting fire to an effigy of michael in the public square. and this all happened on the 1st anniversary of his re election against the backdrop of pension reform protests that drew about 300 people. so the penalty for those responsible for the hygiene mac hole, doll burning could amount to thousands of zeroes and 2 years in prison. kimberly, this is a serious issue and debate, but it really is because that's where we're at this point. the french penal code explicitly protects public servants from words and gestures. what's gestures or threats, writings, or images of any kind, not made public or the sending of any objects whatsoever addressed to

a bus and charged with the public service mission is punished by one years imprisonment and a find, a 15000 euros. all right, so maybe some out there wondering what about flipping that cold bird giving him the middle finger seems like at least a few french folks are hang in that direction these days. maybe getting a mail, saying your muscles warmed up, as the president gets cozy with his compatriots. we don't want your pension reform . what does he understand about it? we don't want it. you have a corrupt government. we have never seen the president have a government as corrupt as yours. you will full soon. you'll see. well, and it turns out michael already inspired a few people to let the bird fly free right in his face on april 19th during his visit to as us and 3 of them. 2 men and women are now set to be judged, is a timber after being criminally charged with contempt for a person of public authority. and they now risk up to

a year in prison and 15000 euros and finds another frenchwoman was arrested in march for calling mac hold trash on social media. and even in the u. k, a police are reportedly using anti terror detention provisions to hold an arrest branch, tourists slake, a fellow who was all route to a book fair in london, who took part in an anti mack home protest. and that's according to britons telegraph newspaper from earlier this month. now, back in 2021, michael su differentiable board owner who had created and posted huge satirical images of the president, including one dictating mac hall as adolph hitler, as a protest against the president's coven vaccine mandates. my holes lawyer said at the time that the lawsuit was being brought against the billboards owner, quote, because of the offensive nature of the comparison of the president of the republic with adolf hitler. so it looks like the crusade against insults of all kinds is continuing from michael. and well, maybe he can enlist

a brigade of french school. you are bullies, to help him out. archie contribution rachel marston taken us to the end of this news our but not with more and more countries seeking to do cross border deals in their own currencies. what lies ahead for the dollar this decade cross talk debates the greenbacks held. mm ah. hello and welcome to cross hock, 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. with cross talking the u. s. dollar, i'm joined by my guess rick sterling in walnut creek. he is a journalist at anti war dot com in winnipeg. we have radical decide 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. all right, cross sac rosen. if that means you can jump any time you want, and i always appreciate radco. if 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 of what, what is the prospects for the u. s. dollar as more and more countries are trading in their own currencies? go ahead in winnipeg. i think that the my then ever,

the dollar has always been very problematic. people, even, it's most ardent advocates have already said 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 at exploding all over, and its presence in world trade is diminishing where all these upward 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 overwhelming majority of the world, the world majority, as i think russians are increasingly calling it the one of the problems of the donor system or the major problem has always been a massive under valuation of vacancies visa, either dora, 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 deposition of the donor system is so blatant, they are seeking and finding alternatives. well, rick, that's really the point. i mean, it's trust in this currency. our currency, if it's used as a political weapon against real or imagined adversaries. it diminishes its whole purpose as being a fee of 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 in this is what we're seeing. go ahead. recon 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 deb exploding where they could just print money at will and haven't accepted around

the world. and countries are seeing this as well. the, the national debt of the us as accelerating 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 forcing us to use the dollar? so the u. s. itself is given countries around the world, the, the motive to move away from the us dollar route essentially the same thing applies to the euro. because as the u. s. managers, it's economy and it's interests around the world. it doesn't hesitate to punish europe and damage the euro. i mean, it's really extraordinary. argue we talk about real and imagined adversaries. i thought europe was america spread, but know that the, the treasury department will stab the year on the back and a drop of a hat. go head 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 they've been printing? a quantitative easing. all of that, it's good. it's good, it's good, like a vacuum. 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, the 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, the dollars will flow back into the united states, creating a surf he took dollars, but there is one small qualification that one ought to me, which is the united states federal reserve of has been essentially printing dollars

involved one of these for a long time certainly since the 2008 financial crisis, but until the last year or 2 of this did not result in inflation. why? for a very simple reason. the overall heading majority of the trillions of dollars that have been created since 2008 have actually gone directly into financial institutions where they have gone into the black holes that are the balance sheet of these financial institutions. hardly any of this money has actually figured out into the pockets of the ordinary join jane in the united states. which means that this money printing is hardly really a cause of inflation. inflation has been caused because all those conditions, which for the last 3 or 4 decades has kept inflation low, specifically the weakness of labor and the weakness of the world. majority the rest of the world in terms of demanding higher prices for that commodities and for their

products. these have been suppressed as and now these can no longer be suppressed. which means that this, it's the fact that the very development of the rest of the world is now causing a challenge to the united states dollar. and that challenge takes the form of inflation. also, if i go to rick in walnut creek, but another issue parallel to all of this is that we all know that the, with the advent of the conflict in ukraine, russia's central bank reserves were frozen. we had a few years before that been his whale is gold was confiscated, i mean the western supposed to be an impartial banker protecting all assets around the world. well, that is patently not true any longer. we've never seen these kind of acid seizures before. i don't know why any other country would want to put their money in the bank of london, for example. go ahead, rick. yeah, your exec right peter the, the u. k. and the u. s. are the main culprits in this where they have sees the

assets of countries such as a lot of the go network of gas stations was saved by the united states. a national resource of the bins royal and people was, was just seized. more recently we saw the, the afghan national reserves 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 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 individuals, russian investors and russian billionaires. their money was safe in the u. k. they, they found out otherwise. well, absolutely. in ralph,

we have the european union and least members of the european union, speculating how they can seize, illegally cease because there is no law for this right now. individuals assets and to pay them off on to others. presumably the elite and care 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 feared currencies are trouble and risk now because of course they've financed wars with that and did type in hyper speculation like higher trading pro wasn't all that we've done. now we have at the same time that the real purchasing power, the purchasing power as increased for the 1st time ever. and cert 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 what, you know, we were 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 us dollar and western financial. i mean it's a vicious circle, goes around and around, finish up or it's before we go to the break ralph? yeah, it is true and that's what ruining and is our country germany. our industry is suffering

heavily and the population as well under sanctions. the 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's how you, how much washington respects the sovereignty of other countries. so i'm going to go to, we're going to go to a short break and wrapped about short break. we'll continue our discussion on the us dollar. stay with our team. a water westerly. i'm a bit, i don't. i mean our how to mitchell was how your ship was through the mid, obviously a hair dresser, a bus driver, a sales person. anyone could become a victim that sail private negotiators 1st appeared with steel wooden wood, coffee with

a level of a september that he's more on your board yet. but i am on that on the vocal. those are, let me know a soon warranty theses for mission and on from the yet yet, studies bush took over this every me with the little that they say quiz just in the would go with with welcome back to cross top where all things are considered. i'm peter labelle, to remind you we're discussing the us dollar. ah

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 whimsical. we have a small group of people telling us what it's worth, what it might not be worth with the relative of this to that. but if it dead by we to him is to back them with a resource, but then use economy and the value of the you are the stable, the chinese economy is large, etc, etc. so i think while it's a good measure, you can dig if there is 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. i don't agree with those policies here. 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 have 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 walnut creek. yeah, well exactly. the bricks, country, countries are looking at creating a basket of currency so that they can conduct all the trade among those major countries in. and if we look at the, even the holdings of us national security is 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 things 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 these, their companies have agreed that they will trade in their own currencies. and probably one of the biggest 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 crime. they gave the west so much prosperity since the 19 seventy's. and 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 though it's don't want to trade. but it's actually, if they get a 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 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 supper. and nations like in africa, a lot of nations are waking up. and of course you mentioned bricks earlier of the job are already of super power all together. so we will see a change that is as radical as in one, 989990. 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 france should not, and europe in 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 having, they're getting less and less of both as time goes on. reco explained to me, i mean, what could if you wanted to reverse this trend, is there anything it could do? no, i think that's. that's what i was expecting. go ahead. yeah, that's a really interesting question because, you know, look at it this way as you yourself pointed out, the weapon edition of the us dollar is boomerang being back on the united states, it's making that it's not making the dollars stronger. it's making the dollar

weaker. so since it exists, 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 bodily mother tree is a saw. and all the help you to do is got the limb on which you are sitting, right? that's the situation. the daughter is in the united states. however, at the same time, will 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 b of saying, you know, want me, should settle down to a mighty currency would the should not try to impose a dollar on the one, etc, 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 truly 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 drying. 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 that we are production costs you, 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 huge 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 brick 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 happening and and, and the u. s. population is largely unaware of it and unaware of what of the, the status of the us dollar. they 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, in these political lead from the west, all they want to do is take the can down the road, the it's somebody else's problem. i mean, not too many years ago. i can remember when the us national debt was like 9 trillion dollars in and that was

a lot of money. and now what we'd like $32.00 trillion dollars and that's probably underestimated that. okay. 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 up 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 depth 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 of these wars, how do we continue? and i think this question is more about the economy done about any military alliances? i think as well as up, 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 i wanna think our viewers for watching us here are t c. next time. remember

the the i look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings, except where such order is a conflict with the 1st law show your identification. we should be very careful about artificial intelligence. at that point, obviously is too great trust rather than fear a very job with artificial intelligence. real summoning with a real bob less protective phone existence with

a breaking news list. our 7 people are killed in ukraine shilling in the regional capital of the nice guy shows rain down on the city center. a child is fit to have been among the victim with the united states and its allies have seriously eroded the global security architecture. russian defense minister criticizes the west limiting stability in the world. in his speech at the shanghai corporation, organization meeting could hook the official hundreds of people crowd until coastal city attempted to escape the country. a fortnight long classes between the war insides continues. despite attempts to stop the blood.