reality ones were, as they are a square, that has to be a calm is not the way to do it, not only not military warfare, which would be crazy now, but even economic or fear. the fact of the matter is over the last 10 years, the dollar has gotten weaker literally every month. any percent of the reserve is in every central bank in this, in this planet. we're in the form of dollars. today it's less than 45 percent. it's a catalyst importance of the dollar and in the power of the united states, the use of that dollar. it's one of those examples we're using that power was a big, big mistake. as on the cuts that power retrospect, to have managed and kept your dominant position as a reliable, trustworthy manager, then to become a part is in flight or when the rest of the world. and let's remember the united

states is very wealthy, world's population, not the rest of it, and the rest of it, that's remember the 2 biggest companies in the world are india and china. their point to the house. this is the united states welling around because it doesn't want to face that it's shrinking in its footprint around the world. it's all one's, it's fire is the crucial question. and denial is not a solution. you know, i've been talking to some economists and a lot of america and they pointed out to me, they say, you know, rick, you're, you're, you're, i understand your point about the, the dollar is ation. but it's not so much about the dollar is ation. it's just the world has changed and while the united states was the matter daddy, as we like to say, economy and not or about to be not because of what's going on with china. and that's really what is driving this. as you just mentioned, the con india and others are just yeah, the world is changing, the world is changing and you know,

i get frightened to be honest with you rick. i get from a range to manage that live and let live you try that has to have its way to develop its economy. we have to have our way that can be worked out. i want to remind people a little bit broke away in a violent revolution from another empire, the british empire, the british empire, tried to stop and militarily right at the war of dependence. and then we had another warrant, 1812. and then the british realized, i'm not gonna stop this by military means, and they came to terms with the united states and we had a century of no war between think we need to learn. so we're not going to a punish trying to back its drum, couldn't do it by you did do it. i will give you one statistic because i'm an economist. we now have the results of economic growth. the 1st 3 months of this year, january, february, march, 1st quarter of 2023. be the economics of britain,

a girl 0, no growth at all. in the united states, one present the peoples republic of china, 4 and a half percent. i mean, you can make, believe these realities aren't they? are, they've been there for 20 years. they're not going away. it's time to sit down and work live together on this planet because there really is no viable alternative. and the d dollarization is a screaming message to us, so i hope we have the brains and the capability to absorb. i wonder if we do though, because what i've seen lately from about the trump administration. and frankly, patients including the one that we have now who happens to be a man with, you know, with all due respect to him and god bless his soul. is a guy from the cold war mentality times of the 19 fifties and sixties,

of which makes him act like in tool. you just gotta have up the old american acts and we can do away with all of our competitors. well, no, we can't. but it seems like that's the only way. busy they're going to use see any way forward where we would be a little more compromising as well. i'm hoping and i know this may sound a bit odd. i'm hoping that you know, way the feed teaches us, at least sometimes. we thought we had the power to win in vietnam. we didn't. we thought we had the power to vin, the wind and afghanistan. we didn't, we thought we had it in the rock. we didn't. the reason we're talking in ukraine is we call of, of all the previous escalations did not work. that's why we keep giving them bigger and bigger. bearing for the war rush, it hasn't been dropped to its knees. russia found other people to buy its oil and

gas, found other people to work their trade deals with. i'm not in favor of the regime or against the regime, but i want to look honestly, we're not able to do what we tried to do in the past, we had the power ones, but we sooner we understand that the sooner i think the capabilities there to work out, let's remember, nixon and kissinger went to china to close, open it up and we had several black prospered and trying to prospered. i don't believe that is forever gone. i think that logic and come back to war, which is lunacy. so let's try to work out some arrangement that does not involve these efforts to destroy effects. the, the irony is the inflation in the, in europe is worse than it. is it, russia, inflation in europe is worse than it is here. they're paying and then norm is price

. the whole country of finance is basically at work out the problems that come in large part from the rising price of energy, which makes europe unable to compete with the rest of the world. i mean that the, the fallout from this, and if you didn't understand what you were getting into and it is blowing back on you in a way you has to take account of. when we come back, i want to talk to you about america. parts of the middle east, the places that we haven't paid a lot of attention to in the past that are suddenly raising themselves up and saying, wait, by the way, professor richard, well if you stay webcast, where i as a journalist, tell my story and share with you what i had learned, and we also talked about some of these stories that to hear right here. it's called the rick sanchez podcast. i invite you to check it out when we come back. well, more on the potential destruction of the us dollars of many countries around the

world, including some of the smaller ones. now say they can have it, the prices so that the possibilities will continue dates and then we may expect to the escalation because i don't see any sincere demand for peace in your oversight. but

there will be more suggestions introduced, aggravates the situation at which i already see you decide to keep up. this was in the interest of the us administrator the the, the pay. welcome back. how much sanchez? i want to once again list for you some of the agreements that are already taking place to show that this p dollarization effort is more than just a thought that our country's economic and foreign policy advisors would be smart to start cnn. brazil recently moved forward on an agreement to facilitate trade between them, between the each country without having to use dollars back in march. as we reported here, a trade deal for reach between the united states. a pardon me,

the united arab emirates and china, and it was carried out in chinese cohen, c with the coordination of the french energy for think about that. and then in april reports thing with india's central bank about conducting transactions in indian world, please. among the countries involved in those talks are the mom leaves me in mar, russia, and also the united kingdom, germany, and who zailynn. so these are not literal countries, but they're going along now with other countries that wouldn't traditionally be making these are richard wolf. what do you make of that professor? that not only are we seeing suddenly african nations, america, latin american countries, like we said, with lula and argentina coming forward and asking for a change in the system. but that we're also seeing countries like new zealand. and if in great britain, i think we want to be invited to this dance before it gets away from us,

it seems to be what's going on now. absolutely, i mean, in the past and bypass, i mean the last 506070 years, any small country in asia for go latin america, eastern europe and so on. basically had the dominant place to go for a loan for his development project, for any ice them would be to go to washington and western europe, maybe to tokyo and try to work a deal. but since the japanese and the western europeans and the americans were a tightly knit group that had worked together for a long time, you basic negotiate. you just click now you can, that is an birth shaking difference lead by trying the but now with the brakes and all the people joining them. they are, for example, if you want to build a new railroad in some corner of africa that can move key resources to the coast

where they can be shipped around the world. who's going to build, you know, railroad. it used to be either the united states or west and, you know, build you a better railroad, cheaper quicker. but what are you going to do? and if the chinese gu, they will work a deal, and pretty soon you're going to see the parts of the western, the lions, like you pointed out, breaking your a british firm there, or maybe it looks like an egyptian firm. but if you study it long enough, right behind it is a belgian and a dutch firm. in other words, they don't want it is the most rapidly growing market in the world. i've taught in american business schools, we teach young longer for newer as you want to succeed, be where the market is growing or you need to focus well, then you're going to go to china. and if your government says they're not nice in china, you're going to say a lot of it may be,

but if i'm going to survive competitively, i have to go there. the wise, i'm going to be left behind. and every small country is experiencing whether we know whether or not in turns debates inside the leadership of those countries. have we been on the wrong horse by staying with the united states in western europe? are we missing opportunities that were decidedly and for the profit ability of our companies? if we stay the way we've done and they're answering the question is happening. the chinese say we're not going to deal with dollars. you have to deal and you want to will build in your currency. in other words, they are the up and come, or they are doing in the world. what the united states a 100 years ago was doing to me what it was and why others are now say, it's our turn. well, i'm not just a little bit and here's,

here's how i'll push back because i happen to be live in america. and as you know, and i know all the stories, my father and my uncles told me growing up as a kid of what the united states did in latin america is maybe not the same as what china is. do. latin america, united states seem to go in there with a clenched fist, most of the time, required back country to be indebted to the united states for ever and ever. and we only put in these to execute on whatever plan that we put in. and then we use new s marines to back up those companies if those guys decided they wanted a more of a better term. this isn't china doing it a little differently. yes, china is trying to do it a little differently. it's a little early to tell the move here is really only a few years old in most of these parts of the world. so i'm a little bit i have to hedge because we don't have quite enough information here. but a lot of your point is violet. the chinese know there's an accumulated 2 to 300

year bitterness and injustices of colonialism. yeah. both of, oh colonialism that the europeans, for example, did in africa. literally carving the country up or the control that the united states operated in latin america from there on report.