US senator says Ukraine is 'gold mine' with $12 trillion of minerals West 'can't afford to lose'
Summary
TLDRThe video script discusses US Senator Lindsey Graham's comments on Ukraine's vast mineral resources, worth 10 to 12 trillion dollars, and the West's interest in preventing these assets from falling into Russian and Chinese hands. It highlights the geopolitical and economic motivations behind Western support for Ukraine, including weakening Russia and securing access to critical minerals for technological advancement, beyond the narrative of democracy and human rights. The script also touches on the potential ramifications of seizing Russian assets to fund Ukraine's war efforts, suggesting it could lead to a global financial realignment.
Takeaways
- 💰 US Senator Lindsey Graham suggests that Ukraine has 10 to 12 trillion dollars' worth of critical minerals and could become a very wealthy country, emphasizing the West's interest in these resources.
- 🔒 Graham implies that the West should continue supporting Ukraine to prevent these mineral assets from falling into the hands of Russia and China.
- 🤝 He suggests that by helping Ukraine, it could become the best business partner for the West, hinting at a potential trade-off using Ukraine's mineral resources.
- 🗣️ The script mentions that the US has previously claimed support for Ukraine to protect democracy, but also highlights the Ukrainian government's undemocratic actions.
- 🏛️ The Ukrainian leader, Zelensky, is reported to have consolidated media control, imposed martial law, and banned opposition parties, contradicting the narrative of promoting democracy.
- 💡 The US and NATO's support for Ukraine is suggested to be driven not only by democracy but also by geopolitics and economic interests, including weakening Russia and securing access to strategic minerals.
- 💼 The script discusses the profits made by US investors and corporations from the war in Ukraine, indicating economic motivations behind the conflict.
- 💼🏦 Wall Street firms like BlackRock are investing billions in Ukraine, profiting from the war and the country's assets being sold off cheaply.
- 💻 The US is concerned about China's dominance in the critical mineral supply chain and is working to secure its own supply, with Ukraine being a potential source.
- 🛑 The US Congress has approved billions in aid for Ukraine, much of which goes to the US military-industrial complex, highlighting the profits made from defense spending.
- 🌍 The script concludes by suggesting that the US and its allies are pushing for economic decoupling and the creation of new financial institutions, potentially impacting global currency and trade dynamics.
Q & A
What is the estimated value of critical minerals in Ukraine according to the US senator Lindsey Graham?
-The estimated value of critical minerals in Ukraine is between 10 to 12 trillion dollars.
Why does the West, particularly the US, want to prevent these minerals from falling into the hands of Russia and China?
-The West wants to prevent these minerals from falling into the hands of Russia and China to weaken their economies and to secure strategic resources for themselves, especially for high-tech industries and clean energy technologies.
What does the US senator Lindsey Graham suggest as a way for Ukraine to pay back the West for the weapons provided?
-Lindsey Graham suggests that Ukraine could use its critical mineral assets to pay back the West for the billions of dollars of weapons provided.
What was the context of Lindsey Graham's comments about Ukraine's mineral resources?
-The context of Lindsey Graham's comments was that Ukraine should pay the West using its minerals for the weapons they have received, and that the West must continue sending weapons to Ukraine to protect these resources.
How has the Ukrainian government been described in terms of democracy by the media and US officials?
-The Ukrainian government has been described as undemocratic, with actions such as consolidating TV outlets, imposing martial law, controlling all media, dissolving rival political parties, and banning opposition parties.
What was the US Defense Secretary Lloyd Austin's explicit statement regarding the US support for Ukraine?
-Lloyd Austin stated that the United States wants to weaken Russia in Ukraine.
What economic motivations does the US have for supporting Ukraine beyond the political and strategic reasons?
-The US has economic motivations such as gaining access to Ukraine's vast mineral resources, profiting from the war through military contracts, and supporting Wall Street investments in Ukraine.
How much aid has the US Congress approved for Ukraine as of May 2024, and what does it include?
-As of May 2024, the US Congress has approved $175 billion in aid for Ukraine, which includes $17 billion in defense spending for military support and weapons, and $57 billion in non-defense support.
What does the US aim to achieve by restricting China's influence in the global critical mineral supply chain?
-The US aims to prevent China from dominating strategic industries such as electric vehicles, batteries, and semiconductors, and to secure a 'Made in America' supply chain for critical minerals.
What is the significance of Ukraine's critical mineral reserves for the global economy and the US strategy?
-Ukraine's critical mineral reserves are significant for the global economy as they include essential minerals for high-tech components and clean energy technologies. For the US, securing these reserves is part of a strategy to counter China's dominance in these fields.
Outlines
💰 Ukraine's Mineral Wealth and Geopolitical Interests
The paragraph discusses the vast mineral resources in Ukraine, estimated at 10 to 12 trillion dollars, and the geopolitical interests of the West, particularly the United States, in these assets. It highlights a statement by US Senator Lindsey Graham, who emphasizes the importance of supporting Ukraine to prevent these resources from falling into Russian and Chinese control. The narrative suggests that the West's support for Ukraine is not solely based on democratic values but also on economic interests, including the potential for Ukraine to use its mineral wealth to repay the West for military aid.
🏛️ Democracy or Economics? The Real Motives Behind Western Support for Ukraine
This paragraph delves into the question of whether the West's support for Ukraine is genuinely about promoting democracy or driven by economic interests. It points out that despite claims of supporting Ukraine for democratic reasons, the Ukrainian government has exhibited undemocratic behaviors, such as consolidating media control, dissolving opposition parties, and extending the president's term without a democratic mandate. The paragraph also mentions that US and NATO support for Ukraine is partly due to geopolitical strategies to weaken Russia and the economic benefits for Wall Street and the military-industrial complex.
🛑 The Economic Ramifications of the Ukraine Conflict
The focus shifts to the economic implications of the ongoing conflict in Ukraine. It discusses how the US and its allies are profiting from the war, with big corporations and investors gaining from the investment opportunities and the military-industrial complex benefiting from increased defense spending. The paragraph also reveals that the US Congress has approved billions in aid for Ukraine, much of which is channeled through US military contractors, highlighting the economic stimulus the conflict provides to the US economy.
🌏 Strategic Minerals and the Global Supply Chain
This paragraph examines the strategic importance of Ukraine's mineral resources, particularly in the context of global supply chains. It details the vast reserves of minerals such as titanium, iron ore, lithium, and rare earth elements, which are crucial for high-tech industries. The narrative underscores US efforts to secure these resources to counter China's dominance in the supply chain and to limit China's access to critical minerals that are vital for its industrial and technological ambitions.
🕊️ The Complexities of the Ukraine Conflict: Beyond Mineral Resources
While acknowledging the significance of Ukraine's mineral resources, this paragraph argues that there are multiple reasons for the conflict, including geopolitical strategies to weaken Russia, the desire for Ukraine to join NATO and the EU, and the exploitation of Ukraine's educated but low-wage workforce. It also references historical instances where US officials have openly discussed overthrowing foreign governments for access to natural resources, suggesting a pattern of behavior where economic interests intertwine with political actions.
📊 The Broader Impact of Economic Sanctions and Asset Seizure
The final paragraph discusses the broader implications of economic sanctions and the proposal by US Senator Lindsey Graham to seize Russian assets to fund Ukraine's war efforts. It warns of the potential backlash against such actions, including the loss of trust in holding US dollar and Euro assets by central banks worldwide. The narrative concludes by connecting these events to a larger trend of economic decoupling and the creation of alternative financial institutions, reflecting a shift in global economic dynamics.
📺 Conclusion and Call to Action
The concluding paragraph serves as a call to action for viewers, encouraging them to like, subscribe, and share the content. It also introduces the speaker, Ben Norton, as the editor-in-chief of the Geopolitical Economy Report, emphasizing the importance of understanding the economic roots of geopolitical conflicts.
Mindmap
Keywords
💡Critical Minerals
💡Lindsey Graham
💡Geopolitics
💡Martial Law
💡State Assets
💡Military-Industrial Complex
💡Economic Decoupling
💡Democratic Mandate
💡Investment Opportunities
💡Seizure of Assets
💡Diversification of Reserves
Highlights
US Senator Lindsey Graham emphasizes the strategic importance of Ukraine's critical minerals, stating they could make Ukraine the richest country in Europe.
Graham warns against letting these mineral assets fall into Russian and Chinese hands, advocating for continued Western support to Ukraine.
The West's support for Ukraine is framed as a means to secure access to critical minerals, rather than solely for democratic reasons.
Ukraine's potential as a business partner is highlighted, with its vast mineral reserves being a significant draw for Western investment.
The narrative of supporting Ukraine for democratic values is questioned, with evidence of the Ukrainian government's undemocratic actions presented.
Reports of Ukraine's leader, Zelensky, consolidating media control and dissolving opposition parties suggest a departure from democratic principles.
The US and NATO's geopolitical motivations for supporting Ukraine are discussed, including weakening Russia and securing resources.
US investors and corporations are profiting from the war in Ukraine, with big asset managers like BlackRock investing billions.
Zelensky's symbolic ringing of the New York Stock Exchange bell signifies Ukraine's openness for business and investment.
Ukraine is offering $400 billion in investments, a sum exceeding its GDP, indicating a sell-off of state assets at low prices.
The US Congress has approved $175 billion in aid for Ukraine, much of which benefits the US military-industrial complex.
The war in Ukraine is portrayed as a stimulus for the US government, exemplifying military Keynesianism.
Graham's comments reveal a desire to prevent China and Russia from accessing Ukraine's critical minerals, crucial for high-tech industries.
The US is concerned about China's dominance in the critical mineral supply chain, aiming to secure a 'Made in America' supply chain.
Legislation introduced in the US aims to counter Chinese dominance in critical mineral supply chains, with Ukraine positioned as a key ally.
The US government's history of overthrowing foreign governments for resource access is highlighted, with examples from Venezuela.
The potential seizure of Russian assets to fund Ukraine is discussed, with implications for global trust in Western financial institutions.
The call for seizing Russian assets could lead to a decoupling of the global economy from the US dollar and Euro, prompting diversification.
The geopolitical and economic implications of the war in Ukraine are analyzed, revealing the complex motivations behind international relations.
Transcripts
they're sitting on 10 to 12 trillion
dollars of critical minerals in in
Ukraine they could be the richest
country in all of Europe I don't want to
give that money and those assets to
Putin to share with China if we help
Ukraine now they can become the best
business partner we ever dreamed of a US
senator has said the quiet part loud and
warned that the West cannot afford to
lose the war in Ukraine because he said
Ukraine is a gold mine that has 10 to 12
trillion worth of critical minerals that
the West needs and this US senator
Lindsey Graham from the Republican Party
he insisted that the West must continue
sending more and more weapons to Ukraine
in order to protect these minerals and
prevent them from falling into the hands
of Russia and by extension China Lindsey
Graham made these comments in an
interview on CBS on June 10th by the way
quick note for context he began this
clip talking about how Donald Trump
provided weapons to Ukraine as loans
that is that Ukraine had to pay the us
back for those weapons so the context of
this clip is that Lindsey Graham is
strongly implying that Ukraine should
pay the West using its minerals to pay
for the billions of dollars of weapons
that they have given to Ukraine what did
Trump do to get the weapons flowing he
created a loan system they're sitting on
10 to 12 trillion dollar of critical
minerals in in Ukraine they could be the
richest country in all of Europe I don't
want to give that money and those assets
to Putin to share with China if we help
Ukraine now they can become the best
business partner we ever dreamed of that
10 to 12 trillion of critical mineral
assets could be used by Ukraine and the
West not given to Putin and China this
is a very big deal how Ukraine ends
Let's help them win a war we can't
afford to lose let's find a solution to
this war but they're sitting on a goal
mine to give Putin 10 or 12 trillion
dollar of critical minerals that he will
share with uh China is ridiculous now
these remarks are very revealing because
for years the United States has claimed
that it must support Ukraine in order to
protect democracy now this is despite
the fact that the Ukrainian government
has been very
undemocratic back in 2022 NPR reported
that the Ukrainian leader vlir Selinsky
had Consolidated all of Ukraine's TV
Outlets he imposed martial law and the
state took control of all media and
furthermore zalinski dissolved rival
political parties as NPR reported he
banned 11 opposition political parties
including by the way all of the major
left-wing parties all of the Socialist
and communist parties were banned in
Ukraine because they were deemed
so-called pro-russian parties meanwhile
zalinski has overstayed his term in
office which was supposed to end in May
2024 he has continued without a
democratic mandate and the major French
newspaper Lon referred to zalinski as
quote a president with no term end in
fact two former US diplomats published a
very revealing article in Newsweek in
2023 titled Ukraine sure does not look
like democracy anymore I want to read a
few highlights from this article it
notes that in May 2022 the Ukrainian
parliament passed the law formally
banning all opposition parties president
vlir seninsky signed the law among the
parties that were banned included the
opposition platform for Life party which
had 10% of the seats in Parliament
furthermore another 11 ban parties
include the Socialist Party of Ukraine
the progressive Socialist Party of
Ukraine the union of left forces and the
Communist Party of Ukraine all have been
banned under the right-wing nato-backed
regime
furthermore it notes that Ukraine has
banned elections Ukraine has put the
Democratic process itself on hold since
declaring martial law in
2022 furthermore it notes that
democracies are not supposed to censor
the media but the Ukrainian government
in February 2022 ordered the nine
largest television networks in Ukraine
to combine their news operations into a
single state controlled news program
called Tel Marathon in April 2022 the
National Security Council ordered three
independent television channels
associated with zelinsky's predecessor
taken off the air in December 2022
zalinsky signed a law which gave the
national broadcasting Council statutory
authority to regulate all print
broadcast and digital media now keep in
mind that was an article written by
former US diplomats this is not random
activists if we look at what's actually
happening on the ground in Ukraine and
if we look at these comments from us
politicians like Lindsey Graham we can
see that the war in Ukraine has nothing
to do with so-called democracy and
certainly not human rights now it goes
without saying that one significant
reason motivating the US and NATO to
support Ukraine is geopolitics the US is
trying to weaken Russia this was stated
explicitly by the US defense secretary
Lloyd Austin who also worked for us
weapons corporations before he was
appointed the head of the Pentagon in
2022 Lloyd Austin visited Ukraine and as
the Washington Post reported he said
very clearly that the United States
wants to weaken Russia in Ukraine that
point is obvious but it's not just
political it is also economic US
investors big corporations big asset
managers like Black Rock on Wall Street
have made many billions of dollars in
profits over the war in Ukraine and I
discussed this in a previous video and a
report which I will link to in the
description below looking at how Ukraine
is being sold to Wall Street and back in
2022 zalinski symbolically rang the
opening bell at the New York Stock
Exchange and he announced that Ukraine
was open for business as he said and he
also revealed that with the backing of
the US government and right-wing
economists in the US and big
corporations that Ukraine was offering
$400 billion do worth of Investments
selling off State assets for pennies on
the dollar now for context Ukraine's GDP
is under $200 billion and yet it's
offering $400 billion in invest ments
more than two times the size of the
entire country's GDP of all of Ukraine's
economy and asset managers on Wall
Street like Black Rock which have
trillions of dollars of assets under
management they invest the wealth of
rich people in order to make them richer
and richer well meanwhile Black Rock and
other Wall Street firms are investing
many billions of dollars in Ukraine and
they are profiting
from this war and their wealthy clients
oligarchs from the US and around the
world are profiting from this war and I
should add that it's not just Wall
Street it's also the military industrial
complex that is profiting from this war
as of May 2024 in just two years of this
war in Ukraine the US Congress approved
$175
billion of aid for Ukraine
that included
$17 billion in defense spending in
Military Support weapons and 57 billion
in non-defense support now I should
emphasize here that a lot of this
spending is not going necessarily
directly to Ukraine it is going to the
US military industrial complex it is
going to US military contractors big
weapons corporations that are making
billions of dollars in profits creating
missiles and tanks and guns and
ammunition and other military technology
that is going to Ukraine so when people
in the west when they say you know that
we're being so kind and we're helping
Ukraine so much well this is not just
benevolence obviously it's actually
ukrainians who are the ones losing their
lives fighting to the last Ukrainian on
behalf of the US and NATO but it's not
just that us corporations are making
profits hand over foot profiting off of
this war with big big fat juicy
government contracts to build all of
this military technology so this is a
huge stimulus for the US government this
is military keynesianism so Wall Street
benefits big corporate asset managers
and investors benefit the
military-industrial complex benefits and
average working ukrainians are the ones
losing their lives on behalf of Western
capital and this brings me back to the
comments that were made by Lindsey
Graham the US senator who said openly
that the US and the Western countries
want to get access to the 10 to 12
trillion dollar of mineral resources in
Ukraine this was revealed in an article
in the Washington Post back in August
2022 with a very blatant title quote in
the Ukraine war a battle for the
nation's mineral and energy wealth The
Washington Post reported quote Ukraine
Harbors some of the world's largest
reserves of titanium and iron ore fields
of untapped lithium and massive deposits
of coal collectively they are worth tens
of trillions of dollars the newspaper
then added that UK Ukraine has quote
Myriad other reserves including stores
of natural gas oil and rare earth
minerals essential for certain high tech
components that could hamper Western
Europe's search for alternatives to
imports from Russia and China this point
is key the major US newspaper referred
to Ukraine as a quote raw material
motherload that is home to 117 of 12
of the most widely used minerals and
metals and a major source of fossil
fuels and again they they estimated that
in the war zone going on in eastern
Ukraine that there is at least 12.4
trillion worth of Ukraine's Energy
deposits metals and minerals this is
where the figure cited by the senator
Lindsey Graham came from now one of the
key considerations that was highlighted
both in the comments from Lindsey Graham
and in the Washington Post article is
that the United States wants to prevent
China and Russia from having access to
some of these important minerals now
first of all I should point out this is
rather strange because Russia is
actually one of the world's top
producers of all of these Commodities if
you look at the list of the major raw
materials Metals minerals fossil fuels
in the world Russia is always near the
top of the top 10 Russia has so many
trillions of dollars of minerals and
natural resources and fossil fuels and
oil and gas it does not need access to
all of this in Ukraine so it's it's
rather strange and funny hearing the
Western Powers talk about this as if
Russia is desperate but what the US is
concerned about is trying to weaken
China's economy and trying to prevent
China from having access to some very
important
critical strategic minerals because
China is the world's industrial
superpower and the US is trying to
prevent China from competing in
cuttingedge technology Industries in
particular in electric vehicles in
batteries in semiconductors this is why
the US government has imposed tariffs
and Export restrictions on these major
Chinese Industries and CNBC published a
very revealing article in 2024 titled us
very concerned about China's dominance
as critical minerals supplier energy
Chief says the article noted that China
is the Undisputed leader in the critical
mineral supply chain accounting for
roughly 60% of the world's production of
rare earth minerals and materials the
White House released a fact sheet in
2022 emphasizing that the Biden
Administration is is working on securing
a made in America supply chain for
critical minerals it warned of China's
influence over the global supply chain
and in particular it named things like
Rare Earth elements lithium and Cobalt
which are key inputs in Clean Energy
Technologies like batteries electric
vehicles wind turbines and solar panels
and again these are the industries in
China the US has targeted with an
economic War and a trade war and some of
these Rare Earth elements lithium Cobalt
and other critical minerals are located
in Ukraine which has very large reserves
and almost immediately after Joe Biden
came to power in 2021 he signed an
executive order in which he revealed
that Washington is focused very heavily
on trying to restrict China's influence
in global critical mineral Supply chains
this this has become a hot issue in
Washington in fact this year
2024 US Congress members both
Republicans and Democrats introduce
legislation that they say will counter
Chinese dominance in the critical
mineral Supply chains and the US senator
Todd young a republican said quote the
Chinese Communist party is aggressively
attempting to monopolize critical
mineral resources and the United States
urgently needs to diversify our supply
chain and strengthen ties with allies
and of course one of those allies is
Ukraine that has trillions of dollars of
minerals the US would very much like to
get its hands on now I do want to stress
here that this is not the only reason
for the war for critics who are going to
say that this is a crazy conspiracy I'm
not saying that the only reason that
this war is happening is because the US
and big multinational corporations want
to get access to Ukraine's natural
resources again as I acknowledged there
are many geopolitical considerations
weakening Russia the US wants Ukraine to
join NATO the military block led by the
US Europe wants Ukraine to join the
European Union and they can get access
not only to Ukrainian natural resources
but also cheap labor Ukraine has a well
educated Workforce that are actually
paid very low wages compared to the rest
of Europe Ukraine has in fact suffered
from some of the most poverty in all of
Europe and some of the lowest wages so
European companies can benefit if
Ukraine joins the EU from exploiting
lowp Paid well-educated Ukrainian labor
there are many different motivations I'm
not saying it's only because of minerals
but you cannot ignore the fact that US
government officials like Lindsey Graham
and media Outlets like the Washington
Post are openly saying
that the West wants to get access to the
trillions of dollars of minerals in
Ukraine this is a significant factor
that we need to talk about and I should
add that this is not the first time that
US government officials have openly
boasted that they were trying to
overthrow a foreign government and take
their natural resources this has
happened many times Donald Trump said it
very openly in a Republican party rally
in 2023
Trump talked about the crew attempt
against Venezuela's democratically
elected leftist government that he
kicked off in
2019 and Trump boasted he said if only
we had overthrown the Venezuelan
government if our crew had succeeded we
would have gotten access to all of that
oil he said we would have taken over
Venezuela here's that clip Venezuela how
about we're buying oil from
Venezuela when I left Venezuela was
ready to collapse we would have taken it
over we would have gotten all that oil
it would have been right next door but
now we're buying oil from Venezuela so
we're making a dictator very rich can
you believe this nobody can believe it
and Trump's National Security adviser
John Bolton a Hardline neoconservative
Warhawk he made very similar comments as
well in 2019 during the coup attempt in
Venezuela he did an interview on Fox
News and John Bolton said that it would
make a big difference if us companies
could invest in and produce oil in
Venezuela so of course it's not just
getting access to these natural
resources it's the US government is
acting on behalf of big corporations in
the US especially fossil fuel
corporations that want to get access to
these resources so they can profit so
their shareholders can get richer and of
course many of these companies they fund
the campaigns of politicians both rep
Republicans and Democrats in the US they
buy elections essentially and their
shareholders are some of the major
constituents lobbying us politicians
funding their campaigns and their
shareholders want to get richer and
richer off of these natural resources
and I should add that the US government
doesn't really hide this at all it's
pretty blatant in fact do you remember
who Donald Trump's first Secretary of
State was before the neoconservative
Mike Pompeo it was Rex Tillerson and
what was his political experience well
his actual experience was not
necessarily directly political it was
indirectly political Rex Tillerson was
the CEO of Exxon Mobile the world's
largest private Oil Company if you look
at a list of the 10 largest oil
companies on Earth the first three of
them are State own companies there's
Saudi aramco of Saudi Arabia China's
China petroleum and chical and Petrina
and the fourth largest on Earth is Exxon
Mobile and of course again the CEO of
Exxon was the Secretary of State the
head of the US state department under
Donald Trump it's not just a revolving
door in the US the US government is run
by these top Executives from Big
corporations and US government policy is
made on their behalf half now before I
conclude I want to look at one other
comment that was made by the US senator
Lindsey Graham in this interview that he
did on CBS and in this part he called
for the US and Europe to seize the more
than 300 billion of Russian assets that
were frozen by Western Banks this is
calling for one of the biggest acts of
theft in world history in this interview
Senator Graham called a meeting that he
had in Kiev with the Ukrainian leader
zalinski and he said that zalinski asked
the US government to seize these assets
from Russia and to use them to fund
Ukraine to fund the weapons and to pay
off its debts and fund reconstruction
here is this clip here's what he wanted
most of all for us to go after the
Russian assets all over the world take
the money from The Sovereign wealth
funds of Russia and give it to Ukraine
there's $300 billion uh sitting in
Europe from Russian Sovereign wealth
assets that we should seize and give to
Ukraine we have Russian money in America
we should seize now in response to what
he said there I do want to issue a
correction Lindsey Graham said that this
is money from Russia's Sovereign wealth
fund but in reality we're talking about
$300 billion of assets that belong to
Russia's Central Bank this is US dollar
denominated assets and it's actually
mostly Euro denominated assets and the
US government has been pushing really
hard pressuring Europe to seize this
money from the Russian central bank and
to use it to fund Ukraine however Europe
is very hesitant and why is that because
this can blow up in the face of the West
because if the US and EU sees this money
from Russia Central Bank why would other
countries around the world why would
their central banks Hold Us dollar
assets and Euro assets it would be crazy
of them to do that I mean maybe if their
Western allies like Japan or South Korea
they wouldn't be afraid of course
they're militarily occupied by the US
and have been since the 40s or 50s but
if you are an independent country and
you're not just completely obedient and
subservient and don't just follow
whatever the West tells you to do you
would start second guessing whether or
not you should hold dollar or Euro
Assets in your central bank and this
explains why so many central banks
around the world are diversifying their
reserves and holding other assets
especially Gold by the way and this is
why China has been selling off hundreds
of billions of dollars of the treasury
Securities that it amassed over time
because China realizes it could be next
I talked about this in a recent video
Central bankers and economists in China
are very concerned that they could be
next and it's not just officials in
China it's even longtime us allies like
Saudi Arabia and Egypt and Indonesia
many central banks around the world are
second-guessing their Holdings of
Western assets and what we're seeing is
these us officials like Lindsey Grant R
they are calling for accelerating
economic decoupling the creation of new
financial and Economic Institutions so
countries can dollarize they can trade
in other currencies especially their own
local currencies they don't need the US
dollar they can hold other Assets in
their Central Bank foreign exchange
reserves this is all happening very
quickly and the US has continued to
sanction more and more countries and
freeze their assets it did it to Iran
and then to Venezuela and then to
Afghanistan and now to Russia and this
process is accelerating here at
geopolitical economy report this is one
of the main issues that we report on a
lot that we focus on along with
conflicts like the war in Ukraine and we
are trying to help educate people so you
can understand what actually drives
these geopolitical conflicts which of
course are always rooted in e economics
so on that note I want to conclude I'm
Ben Norton I'm the editorinchief of
geopolitical economy report I want to
thank everyone for joining me today
please like And subscribe please share
this and I'll see you all next time
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