u. s. dot u. s. dollar had gemini, can, can easily collapse from here. we're, we're seeing. and if we look to history and we look at japan is the model they've had 3 last decades of floundering economic policy. and what you're seeing now is you're seeing an unraveling of what too much quantitative easily easing looks like . you've seen the japanese yen drop, 23 percent sin in the past year. you've seen the british sterling drop 12 percent since the end of last year. so what you're seeing is a precipitous decline in currency values while you're seeing 20 percent inflation across the board, which is a vis rate in the consumers. so we are recession and it will probably more into depression. and what's happened with the sanctions that have never worked is you have the u. s. dollar is going to right now, it's strengthening, but, but a conjunction a bunch of a countries that has gotten together because it's not just united states versus russia as the propaganda has it. it's russia, china, india, iran, saudi arabia, u e, and a bunch of other countries that are going to d dollar eyes and go on on a quad like gold standard, which is moving in the direction that we're headed with. and it probably wouldn't be a bad idea yet if so let me ask you more or less the same question here. but, you know, mitch did a really good job in answering that. how is it structurally changing the global economy because we deem it dollarization has been mentioned here. i'm outside asset prices, which we've been watching, quantitative easing. how is that changing? and because i don't want to focus his program on sanctions, exclusively, what i want to talk about how the global economy is changing and to who is advantage actually go ahead get us off. well, 1st of all, i would agre

u. s. dot u. s. dollar had gemini, can, can easily collapse from here. we're, we're seeing. and if we look to history and we look at japan is the model they've had 3 last decades of floundering economic policy. and what you're seeing now is you're seeing an unraveling of what too much quantitative easily easing looks like . you've seen the japanese yen drop 23 percent 2nd in the past year. you've seen the british sterling drop 12 percent since the end of last year. so what you're seeing is a precipitous decline in currency values while you're seeing 20 percent inflation across the board, which is a vis rate in the consumers. so we are recession and it will probably more into a depression. and what's happened with the sanctions that have never worked is you have the u. s. dollar is going to right now, it's strengthening, but, but a conjunction a bunch of countries that have gotten together because it's not just the united states versus russia as the propaganda has it. it's russia, china, india, iran, saudi arabia, a and a bunch of other countries that are going to d dollar rise and go on on a quad like gold standard, which is moving in the direction that we're headed. it probably wouldn't be a bad idea yet. so let me ask you more or less the same question here, but you mentioned a really good job in answering and how is it structurally changing the global economy because we deem it dollarization has been mentioned here outside asset prices, which we've been watching, quantitative easing and how is that changing, and because, you know, i don't want to focus this program on sanctions, exclusively. what i want to talk about how the global economy is changing and to who is advantage actually go ahead get us off. well, 1st of all, i would agree that so

u. s. dot u. s. dollar had gemini, can, can easily collapse from here. we're, we're seeing. and if we look at history and we look at japan, is the model they've had 3 last decades of floundering economic policy. and what you're seeing now is you're seeing an unraveling of what too much quantitative easily easing looks like. you've seen the japanese yen drop, 23 percent sin in the past year. you've seen the british sterling drop 12 percent since the end of last year. so what you're seeing is a precipitous decline in currency values while you're seeing 20 percent inflation across the board, which is a vis rating the consumers. so we are a recession and it will probably more into a depression. and what's happened with the sanctions that have never worked is you have the us dollar is going to right now. it's strengthening, but, but conjunction a bunch of countries that have gotten together because it's not just united states versus russia, as the propaganda has it. it's russia, china, india, iran, saudi arabia, a and a bunch of other countries that are going to d dollar rise and go on on a quad like gold standard, which is moving in the direction that we're headed. probably wouldn't be a bad idea yet. so let me ask you more or less the same question here, but you mentioned a really good job and answering that. how is it structurally changing the global economy? because we deem it dollarization has been mentioned here outside asset prices, which we've been watching, quantitative easing. how is that changing, and because, you know, i don't want to focus this program on sanctions, exclusively. what i want to talk about how the global economy is changing and to who is advantage actually go ahead get us off. well, 1st of all, i would agree that so the detonator to a significant degree of the recession, re fears and recessionary risks that we're saying now has to do with the excess of monetary stimulus undertaken primarily by advanced economies. and then there's, of course, the legacy of and balances that we've had in the preceding decades against a significant degree concentrated and the advanced world. and then on top of this, you have the triggers that have to do with a significant rise and geopolitical risks. and the energy problems and energy and balances. a lot of the countries are facing today. but in terms of the transition to a new system, i think we are advancing to a different economic system that has to do with a different pattern of trade flows. investment flows have different geography if you will. i think we're, we will see a growing role of asia, 1st of all, and i think asia will be probably one of the, the beneficiaries of the changes that we're likely to see in this economic system. and i think we're more generally, we're likely to see a greater role for the global south for the developing world. especially as further developing countries under take measures to open their markets to each other and build platforms for integration, which to significant degree. they're already starting to do, and i think of course, other aspects of this new world that we're likely to see is alternatives. more alternate service in terms of payment systems, in terms of national currency being more intensively used at the expense of the very high degree of dollarization that is still out there. but i think it is set to decline. and we're already seeing the shirts associated with a greater use of national currency. so all these trans, i think will be fundamental, will be long term. and it's a significant degree. they're already starting to be observed. you know, andy, the interesting thing everybody looks at near china is the engine the, the global economy as far as manufacturing and exports. but, you know, i mean, it must be very curious from the perspective of beijing looking at the europeans, essentially isolate themselves from the global economy by cutting off all their trade ties with russia. i mean, this is self induced. i mean, you know, there's a lot, you know, coming out of cove id supply chains, you know, everybody gets that, but we see a and he cannot make block intentionally limiting. it's a prospects. i mean, it's really quite peculiar. go ahead handy. well, let me start with this idea that this economic crisis, whether it's a recession, a depression, or something else entirely like success has many fathers, as we've heard from the 2 previous speakers. what i do want to elaborate on a bit with this 1st peter, is that the structural changes that are underway or largely driven as we're moving from a unit whole world to at least a bipolar, if not a multiple or one. and a lot of the roots of what we're seeing now, i think can be attributed to this of, if we look at it and you know this fragmentation, i'm a little bit less sure. this is happening to professor was a bully. this point that we're witnessing the rise of the global staff look at the regional comprehensive economic partnership that includes the countries of asi and china, japan and north korea that covers a 3rd of the global population. currently a 3rd of global gdp, which is expected to rise to 50 percent of gold, g d p. by 2050 i'm. we're seeing a regional blocks, i believe the term that i've heard vessels. abolla. hughes is platforms, and europe i think, is undergoing, ah, this attempted a separation decoupling from russia. but i think the practical realities of it, it's going to be very, very difficult in frankly, ah, the europeans, a, have a much greater affinity for russia than they do the united states. and i think this foster in bargain if we will, of the post world war to order of keeping the u. s. in russia, a, keeping the u. s. in germany down and russia out really is crumbling. and we may be, or on the, or at the beginning of a new reordering, you know, whether that's a new security architecture in europe or to a re, a reconfiguration of the entire book or system. there's a lot to be pessimistic about, but i think also we're major changes on the way that many ross him out, major change him, major changes him, mich, let me go back to you here. but i mean, the thing that i look i, i agree with everything we've heard here, but then the, the where seems to think it's still in the driver's seat. and i think that that's something that they, if it's not particularly relevant any more, i mean it cutting off trade ties are reordering, energy ties and things like that. it's not very easy to do. and, and it particularly if you do it and in a way that it impacts you negatively where you know that this is the, you know, to answer andes for issue. this is ideologically driven, this is

dots jack rasmus, you think the u. s. on bog, on russian nuclear fuel would heavily impact the u as well. there are some nuclear plants, the u. s. that do import russian nuclear fuel. if that is, is embargoed no importance russia than the u. s. and those plans are gonna have to scurry around elsewhere in a world to try to get it. and that's gonna create excess demands elsewhere and drive up the price of that particular product and therefore drive up a electricity generation from nuclear. and because all these, these fuels are substitute products, what we call them when one goes up, the other girls that drags it up in oil, natural gas. the same thing. if you find a nuclear cost going up in the u. s. will that will have an effect as well, on the other of fossil fuels to some extent? so did the question know, in my mind is not where the u. s. embargoes it, it can scurry around and get some supplies elsewhere. but what about europe? a country like france, for example, 70 percent of its electricity generation comes from nuclear plants that will have a big impact on france. and i don't think france would go ahead with the no banding