Brace Yourself For Economic Armageddon! - Andy Schectman - Primal Investor

In this video, Andy Schectman discusses the potential impact of China’s influence in South America and the shift away from the US dollar as the world reserve currency. He highlights China’s infrastructure investments in countries like Argentina and Brazil, and how countries like Ghana have seen a decrease in inflation after stopping the use of the dollar. Schectman suggests that many developing nations are aligning themselves with the Belt Road initiative, BRICS, and other economic forums, indicating a move away from the dollar. He also mentions the potential for Saudi Arabia to switch from the dollar for oil transactions, which could have significant consequences. Schectman believes that the transition away from the dollar will happen suddenly and without warning, and those unprepared will face difficulties. He cites the growing number of countries adopting non-dollar trade agreements and the escalating sanctions by the G7 and the US as signs of this shift. Schectman discusses the possibility of a future event, such as the debt ceiling issue, triggering a change in the financial landscape. He mentions Jared Bernstein’s 2014 report advocating for the US to lose its reserve currency status and how Bernstein has been nominated as the head of President Biden’s economic advisory committee. Schectman also brings up remarks by the head of the IMF, who expresses concerns about the ease of moving money online and suggests the need for increased regulation. He warns of the impending introduction of central bank digital currencies and emphasizes the importance of protecting wealth by diversifying outside the traditional financial system. Schectman concludes by urging viewers to consider the implications of these developments and to be prepared for potential drastic changes in the future. Andy Schectman has been a prominent figure in the financial services industry for more than 25 years, during which he has served as President and owner of Miles Franklin, Precious Metals. Before starting Miles Franklin, Ltd.