Part 3/13:
- The loss of confidence in the dollar, evidenced by nations de-dollarizing and moving reserves into gold.
He emphasizes that the issuer of the world's reserve currency, i.e., the United States, operates on a foundation of debt—specifically, paper treasuries issued by a bankrupt entity. This foundation is unstable, and the global shift away from the dollar is accelerating, especially as countries like China and Russia challenge U.S. dominance.