Transcript
Stephen K. Bannon (0:00)
Here's your host, Stephen K. Band. By the way if you like our capital markets, national security and we got John Solomon up. Coming up next right at the Phillip Rickards war room, Jim Rickards I'm gonna try to get Rickards on tomorrow or Wednesday. One of our contributors. It's great. Go to rickardswarroom.com it's a, it's a landing page. You can get a strategic intelligence which is the C suite read throughout the world. What I mean by that, chairman's of the board, CEOs people that have to make the big decisions. You can get access to it that with the worm kind of keep you covered. Go right there. Go there right now. Rickardsworm.com for Jim Rickards strategic intelligence and he even throws in a free book on money and AI called Money GPT know by currency and artificial intelligence scare the bejesus out of you as it should. A. Philip Patrick Just to summarize, the brics nations are very sophisticated when it comes to thinking through finance capital markets. Everybody thinks that this is just oh bunch of dumb third world as you could not be more incorrect. They understand the threat to them that they perceive being on just one system, a dollar based system means to them for their own sovereignty and their economics. They're coming to this conclusion. We have to make a counter argument. I think and I think we need to start it with the Secretary of Treasury. The Federal Reserve is a disaster here about why the system makes sense. Right? But they're being very sophisticated about a de dollarization program that looks at first in bilateral trade deals and they're the things of free trade. But they're going to do it in their own currencies and take their own currency risks and try to hedge it. And how are they going to try to hedge it? Baby they're going to try to hedge it with good old gold because that's why the central banks are going to keep buying. That's their hedge. That's how they make, that's how they wean their self. They're like drug addicts. They're on opioids or fentanyl, whatever it is and they're going to, they're going to go to detox but they're not going to take a crash program. Right? They're not going to slit their own throats in this thing. They're going to be very sophisticated and very methodical. Is that essentially a summary of their thinking down at the BRICS conference? Sir? That is exactly it. And honestly it was even as we've been Looking at this for a long time, but it was even a surprise to me. I thought I'd come here and hear anti US sentiment.
John Solomon (2:17)
Right.
Stephen K. Bannon (2:17)
I think I thought I'd hear more anger because anger is something we can deal with. But that wasn't the situation here at all.
John Solomon (2:24)
Right.
Stephen K. Bannon (2:24)
