Wall Street Unplugged
Episode: 1027April 12, 2023

The global revolt against the U.S. dollar

First quarter (Q1) earnings officially kick off this Friday as big banks begin reporting. I start today’s show with a scary stat on consumers… and how it could impact earnings results going forward.

I used to make fun of people who said the U.S. dollar would lose its status as world reserve currency… And I can’t believe I’m saying this—but I’m joining their ranks…

I break down how China is leading the push for a new digital world reserve currency… some shocking statements from French President Emmanuel Macron… why I’m worried about the long-term power of the U.S. dollar… and how to prepare your portfolio for the fallout.

On tomorrow’s WSU Premium, Daniel and I will dive into the details of this game-changing trend… and share two alternatives to the U.S. dollar that are set to soar amid the global financial revolution.

Inside this episode:
  • An alarming stat about consumers [0:30]
  • I’m worried about the U.S. dollar [02:00]
  • China’s leading the charge for a global digital currency [05:30]
  • Macron and Biden’s fighting words [07:40]
  • These 2 assets will soar as global finance evolves [19:40]
Frank Curzio
Frank Curzio, founder and CEO of Curzio Research, is one of America’s most respected stock experts. His research is regularly featured on media outlets like CNBC’s Kudlow Report, The Call, CNN Radio, ABC News, and Fox Business News. His Wall Street Unplugged podcast—ranked the No. 1 “most listened-to” financial podcast on iTunes—has been downloaded over 12 million times.
Transcript

Wall Street Unplugged | 1027

The global revolt against the U.S. dollar

What’s going out there? It’s April 12.

nothing Chris Justice right the headlines and  Say what’s really moving these markets.

So we have earnings season which is about to start sweet.

Thanks and   Reporting should be fun.

Tell everyone that we’re getting bigger and bigger and bigger   and we love this.

We’re really really too big to fail.

They’re   all gonna report starting this week.

Don’t inflation report out later today.

Everyone on TV talk about if earnings gonna be weak since estimates   have come down dramatically.

So what you’re gonna see is companies   beating estimates have been revised probably about 10 15%   lower.

Screen should see wow learning season was great, even though   in videos earnings fell 20% year over year,   but it was great it beat the estimates.

Until you’re gonna hear about the macro backdrop the   strong.

Is it okay yet?  We have six ton of families are living paycheck to paycheck according   to latest CNBC poll.

Mark with the IMF just cut.

It’s Global GDP forecasters   weakest level in 30 years.

An environment where stocks are crazy   expensive especially relatively interest rates.

And we’re demand is falling off a cliff.

If you own stocks you have a 401k.

All the s***.

I just mentioned.

Means absolutely nothing and meaningless next   to what I’m about to tell you.

now if you’ve been paying attention to China  Who’s getting this Coalition a country’s?  To reduce its Reliance on the US dollar.

I used   to think this is a big joke.

I used to make fun of Doug Casey’s a   friend of mine is hey Doug.

I just saw your presentation last week.

I mean it was the same one from 1979 if you telling us that  the US Dollars gonna lose his reserve currency status and Doug   will be like, you know, what Frank F you and I’ll   play Texas Hold’em with him, which is a very good Texas Hold’em player,   but even with  The bill bonders of the world which a   lot of you follow from Gora.

To the Rick rules.

I never believed in that.

I was   like no way it’s never gonna happen.

But as you know me being independent, I don’t   really care about anything under the other data, right so data   that drives you.

It can’t be personal.

You can’t have this agenda.

That’s   why I always hated these people had this agenda no matter what the   marketing conditions were.

Markets gonna crash inflation is gonna happen from   2010 to 2019.

We’ve heard   that same story.

Yet if you have interest rates at zero   and you’re flooding the market with cash constantly buying bonds to   the FED that has unlimited printing press just keep it on 24 hours   a day every day of the year.

You have no choice if you look at the data you had   to own assets anything any kind of asset.

Whether it was Art Collectibles the   stock market housing.

Look at those patterns of all those people told you to buy gold   and gold was one of the ones that didn’t do well because it’s not really an   asset tied to  The government spending.

It’s an asset.

That’s kind of conservative that   you’re like, oh, you know, let me buy it’s a store of value   where there’s no reason to even look at gold   when everything else in the shittiest idea is going up 300%  In a matter of a year or two.

Okay, so make fun of these people.

Now I’m not making fun of them anymore because the data has changed.

When China executes its first LNG trade using the   one inside of the dollar you have to take notice.

That is in China currently discussions about accepting the   want instead of the dollar for oil trade first time since   the early 70s when Nixon took us off the gold standard you   have to pay attention.

So now what we have we have the Brick Nations bricks says   for Brazil, Russia, India China and  throw in South Africa  many people think it’s bricks what an apostrophe experts actually breaks the   S stands for something interesting South Africa.

They’re working   together to create a universal digital currency to reduce their   Reliance on the dollar.

It sounds like   fantasy s***.

Right? No wait, it’s never gonna happen again.

I’ve been   saying this many many years, but listen up,  Just listen to the facts.

So you have state Duma Deputy chairman?  That’s basically with speaker the house from Russia.

This is   what he said.

I’m quoting here just the other day.

The transition to settlements in a national currency to the   first step.

The next one is to provide the circulation of digital any other   form of fundamentally new currency in the nearest Future and   at the coming bricks Summit which being   held in August, by the way.

Is the Readiness to realize this project will be announced such   works are underway.

He then said this new digital currency could be secured not just   by gold but also by other groups of   products like Rare Earth animals or soil.

This is really happening right now.

We never had.

Presence of Nations come out on public stages   and say this.

Yeah, you could say whatever you want behind scenes and   stuff like that not when you have the Summits at meetings with   the flags from each country and you’re saying this on a national   stage.

And by the way, you’re not gonna fund a lot of this s*** on Google they suppressed   it.

Go tiktok.

Go to Twitter.

You might find a   few things on Google not all this stuff, you know, and on YouTube, you’re not   gonna find a lot of it.

You should see here.

See what they’re saying.

at these conferences  But now which surprise we have friends joining   the party France.

President macron just visit China two days   ago announce that Europe needs to rely Less on the US dollar we’re   talking about France.

Who’s like the LA Clippers?  They want to be a big player in town.

But no matter how much noise they make they’ll never   be the Lakers.

Hello, Francie, and he just want to be major player in   Europe.

But nobody really pays attention to France.

You know, you don’t say   oh friends and you know, UK, Germany.

Well pay attention to friends.

Because president macron said on stage with President tree.

This   is a couple of days ago.

Cody Europe must resist pressure to become America’s followers.

You’ll say you want to build a third superpower in Europe,   which will be led by himself, of course,   and that Europe should reduce.

It’s dependence on   the US dollar France Europe.

This is where I wish Donald Trump was still president.

Because Trump would call macron the second he heard that and   said hey buddy, just a reminder.

We are the largest foreign investor.

We have a 4500   businesses in France supporting 500,000 jobs, which help support   your economy.

Unless you want us to shut off the LNG Supply and make your economy crash.

Keep   your fm out shut about the US dollar and this fantasy third   superpowered nonsense.

So we have Biden probably thinks Francis type of butterfly right   now.

But no seriousness.

Under Biden France.

I’ll say   it.

I’m sorry gonna curse f****** hates us.

So in 2021 Biden announced a newly   formed Alliance is what Australia in the UK that   gives these nations access to US nuclear subs.

Okay.

Sounds pretty cool.

Well right after that deal   was struck Australia turn around and gave the figure to France   and cancel the 66 billion dollar contract to   purchase 12 diesel powered submarines.

They went out there France before they  made it very very clear how pissed off they were to the public   Biden like apologize and said we could handle a little bit better, but then   by then turns around.

Everybody’s the inflation reduction act which authorizes 370 billion.

That’s a package of green subsidies to be allocated to construction   with turbines solar panels microprocesses electric vehicles in   the US but more specifically within this plan includes a   7500 tax credit for buys of EVS   manufactured in the US that also have   US manufactured batteries.

So you cut out all of Europe.

In the EV for this for this trip because they can’t compete with price.

Kind of like what China does when they dump Steel on   the market or would they do it where else birth elements?  When you cut a lot of that stuff off is there’s a big reason why steel   companies are doing much much better when you’re not dumping cheap free   steel to the market.

So this hurts France Germany almost all European   companies that are trying to compete an EV race.

Which why?  Macron is doing what he’s parting going to strip clubs of   President XI playing nights with China and also playing nice with   Russia.

I mean, they’re not even providing a budget or anything.

They don’t   provide any data of any weapons that they’re helping   or providing Ukraine because they’re not anymore.

And the US has taken notice.

They’re like,   you know, what F this  I mean at France you have to partner with someone and you’re   getting screwed every which way you just like gonna partner with the one that’s   gonna work out the best for you.

And right now the terms are   so much better.

With China and Russia, then they are with the US.

But what do you have you have China pulling all the   strings?  Yes, we’re talking that China when nobody in the US   allowed to say anything bad about China in public anymore.

despite  creating covid which killed close to seven million   people worldwide including 1.

1 million Americans can’t say   anything bad about them.

Nope wasn’t in Wuhan suppressed that   absolutely not didn’t start in wuan.

They didn’t lie what you   know, who cares the Common Sense part of it where who and   all these scientists and doctors wanted to go into who want   to see what was going on and trying to say, nope.

You can’t you can’t   come in.

With the Hope magically said without even going into   China that wow, China handled this so great.

And   so fantastic Trump decides cut the funding to   who when everybody got pissed off.

And why the who said that?  Here’s a child responsibility massive amounts of people hundreds   of thousands of Americans.

It’s 2021 due to Fentanyl.

Even after we tipped off China’s government.

to Chinese Fentanyl traffickers  What do they do? Nothing? They never took action read it   is according to Brookings report from last year.

Hey, we’re   letting you know where these people are go get   them.

Okay, and they do nothing.

That fentanyl comes here.

And yes that China which are wonderful politicians.

Love   so much.

Because they’re all in bed with them.

and man  go down that rabbit hole.

Don’t use Google and go down that rabbit hole.

Holy s***.

I’ll talk a Republicans.

Democrats, why do you think that every single problem is   blamed on Russia?  collusion  Biden’s laptop, no matter what it is.

It’s always gonna be blame on Russia because we don’t really deal with Russia.

We   have no ties to Russia.

They’re not a big trading part China.

Forget   it.

No way.

You want to talk about demise of trump? Who’s when he really started?  raising tariffs  On China, that’s when it was like holy s***.

We got   a good I mean the amount of money that’s what’s wrong with the   democratic system.

If you want to find everything wrong, it’s the greatest system on Earth.

It’s easily corruptible.

There’s so many parties.

It’s like this that the college admissions Scandal, right?  So hard to get into these colleges but yet   when you’re paying like 35 Grand to the to the   guy who coaches tennis and some guy wants to write him a   check for 150 Grand to have his write a   scholarship for their daughter.

It’s a car easily corruptible program.

That blow up in a lot of famous people’s and hedge funds   faces.

But it’s easy very easily corruptible because you   have so many people so many moving Parts.

It’s all about   money.

It’s all about power.

But this is the China.

Who’s doing all of this?  Because now what do we have?  We have this growing hatred of the US and man.

Is   it growing?  Where Brazil Russia India China South Africa, that’s a bricks, but also   also Saudi Arabia Argentina Iran,   Indonesia.

Turkey Egypt  All expressing interest in joining Alliance to have their own digital currency   to compete.

Against the US dollar and not only individual.

Like they’re Alliance to have it.

Which is pretty smart.

And don’t forget Malaysia.

That’s interesting.

You see that   news that came out last week discussing with China to create an Asian   fund between nations to help reduce Reliance on the US dollar.

This is all new stories from the past couple of   months.

When are we ever seen this we’ve seen here and   there and someone talking s*** or whatever.

We don’t   see them on public forums at Summits like this.

Yelling wanting us to hear this.

Even Singapore discuss a topic last month reducing its   need for the US Dollars.

It gets stronger.

It’s hard to compete Singapore where   everyone speaks English.

This was love is the most.

I’ve been to Singapore.

I don’t think anyone speaks out of the language other than  American English, whatever  it’s crazy.

What a beautiful place by the way.

Now why am I bringing this up? What does this mean? Why is it such a big deal to you?  It means earnings inflation the Fed.

These are big problems temporary nature or cyclical.

I’ve argued with this cycle.

It’s probably going   to last a few years instead of a month which were used to when we have   a downturn over the past 11 years because you had the FED there to back us   up.

You have covid trillions comes into the market.

We have one bad month.

Everything goes back to normal and then we search  everything’s fine.

What was it nine months 10 months, maybe during the   credit crisis.

We will find we’re okay.

Everything’s   cool.

Wasn’t like the comment or that three years it you   know for now that you don’t have the FED there.

It’s gonna take longer Laura.

So those are cyclical in nature.

Right weak demand High rates recession low GDP cyclical   cyclical cyclical and waited out.

that you  now these problems look like little tiny Pebbles.

On the side of a massive volcano that’s about   to erupt.

That’s what’s going on right now.

And I’m   not as Fairmont where you know, you’ve listened to me for what you know,   I’m an old crazy bastard now.

I am 50 years old man.

I’m   old you shouting like this.

Stuff they have to be worried about but man.

announcement after announcement joining alliances all   these countries  Before your portfolio it means   that you should have solid allocations to certain sectors   and there’s three super important sectors.

I should account for about 12 to 15% of your   portfolio.

Damn, I gonna talk about these in detail and Wall Street and public   premium tomorrow.

But if you listen to some of these stories, you’re probably not familiar   with them.

Maybe one two here there.

Again, this this has not been   mentioned like publicly and freely by these other countries   that major events conferences State dinners.

You know what we’re   so many countries just outright hate the us right now.

It wasn’t a big deal.

When you look at all.

You   know, we have problems with Russia.

We have problems with China or parts of Europe,   you know alone they can’t do much about it.

But together along   with adding the brick Nation even all the   Brick Nations.

Hey, holy cow.

That’s a serious threat.

She pay attention to it.

Yeah, it’s just one of the main topics will be discussing.

On Wall Street and Club Premium covering lots of stories.

Which sounds insane? I mean, it does sound as anyone I say   it right the US dollar could lose its Reserve currency status.

It’s   not gonna happen right away.

The fact that these initiatives   are taking place.

And you have to stand up.

And take notice.

And just do to research yourself start looking at   it.

So you look what?  brentwoods right, New Hampshire  Only three week meeting that was in 1944.

That’s when a US dollar became the official Reserve currency   right after World War Two right 44 countries are there   gold was a basis for the US dollar other currencies were official thanks to   it.

You know, everybody remembers that 1944 people remembers became   fully functional to 1958.

Holy cow.

That’s a long time.

Let’s say this is gonna happen quickly.

But the fact that it’s starting is seriously and there’s lots of money   to be made and lost.

If you pay attention.

Can I expect to happen anytime soon?  But this should.

really scare you  and this is serious stuff right here.

Because it’s insane as it sounds the US dollar loser   Reserve currency style.

Yeah, I always thought so I thought   it sounded crazy.

Until we decided to spend trillions post   covid.

Get to every asset class return to new all-time highs.

Until you research history where every 80   to 100 years is pattern of a new Global Currency emergence get   a Great Britain Portugal Spain Netherlands.

Now the   US  The reason why she is actually saying that every 800 years   he just recently said that that’s why we have to reduce our   alliances time for change.

I mean so you see how much gold Russia and China have been buying over the past   couple years do your research look at the charts? Why would they   be doing this for?  And all the s*** sounds great.

It’s easy to skyrocketing volume of   the ruble one Trading.

Right.

It’s trading value to Russia’s invasion of Ukraine.

Look   at the volume and transactions verbal War   trading Bots insane.

Sounds crazy until you see for the first time ever dozens   of major countries developed Nations talking publicly   in a coordinated effort in a   coordinated effort.

All the same time to wean himself all the US dollar by   starting a universal digital currency.

Yes idea sounds crazy until you have the US government shutting down   things like crypto out of nowhere.

Why what was   the threat?  Thanks for embracing it why?  Why you shutting off banks that had nothing to do with fraud they   were doing the right thing?  Why you close our bank? Why why?  Are you doing everything in your power to keep the dollar strong?  Interesting.

Do you see this threat coming as well?  How do you keep it strong raising rates, which will   attract more foreign capital?  Almost every other country has stopped tightening.

Have you noticed that?  It sounds crazy.

Until you see the two biggest alternatives to   the US dollar which are Bitcoin and Gold Have you seen   where they are right now?  Gold all-time high just off of it.

Bitcoin was 15,000 recently.

It just broke 30,000.

Why do you think that’s   happening right now?  Because I could tell you something that’s a lot of freaking coincidences.

This isn’t just one or two things.

Like I know freaking way   down.

I mean those effects I’m telling you about.

And I know this diehards and people being frank you   crazy.

It’s nuts again.

I’m not someone that that says s***   like this lightly.

But you’re seeing this change when you see   politicians spending trillions with total disregard of anything.

They don’t care where there’s no consequences for   their action at all.

They’ll get reelected.

No   matter what no matter how many places they   destroy people are still going to   vote Democrat.

No matter how much the Republicans mess   up in certain areas this still gonna vote Republicans.

There’s no change.

There’s no change here.

And more importantly you could do whatever you want get chronological   go on under oath testimony.

Show pictures.

And get caught completely.

And there’s still no consequences for your action.

What do you think’s gonna happen? It’s gonna entice everyone who’s   not messing around f****** around.

To start doing things because they’re seeing everyone   else benefit.

See some kid rob a store for and gets a new TV and   then you’re like wow that’s messed up and then all the other friends do it and   everybody else does it doesn’t does it.

You know what you’re gonna feel like an idiot.

You know, you’re gonna do you’re gonna try to rob a store and grab a TV because everybody else has got   it for free you’re promoting this you’re promoting spending   you’re promoting just unbelievable amounts   of debt.

I mean trillions guys trillions.

Would it take 200 years to   suspend one trillion? We’re spending trillions.

Or a few months now.

The debt ceiling.

Good luck.

At the politicians were smart, they’d sign a deal right now.

They don’t   want to see a week ago, which you’re going to see if they don’t sign a   deal.

But their egos are so inflated and they’re gonna fight for all this   b*******.

For their communities for themselves or whatever that they better   start looking at the bigger picture.

Because dollar weakens, that’s not a good thing.

You want to keep the dollar strong?  But I tell you.

the coalition  the unity among so many countries  the coordinated effort  Pay attention it’s gonna influence a lot   of sectors.

And I’m not talking about sectors at all while I own this stock   or that stock.

I’m talking about sectors.

I’m talking about gold not going to   3,000 but 15,000.

Bitcoin going to 100,000 massive massive moves  at this really develops the way I think it is and it   looks that way.

And a US is just fallen asleep at the wheel.

I’m sure I’m gonna get a ton of emails about this.

Feel free   to email Frank codes of research.com.

I’m here for you.

I’ll take it yell at me.

Call me   crazy but provide research for me.

I don’t mind anyone disagreeing.

I don’t mind anyone having an opinion but   support it.

I’ve been wrong before not often.

I   try to tell my wife.

I’m never wrong.

I’ve been right more than wrong when it comes to stocks.

I wouldn’t be doing this but yes,   I’ve been wrong.

If you have a difference of opinion, let me know or maybe you have more information about this.

Let me know.

I’m here Frank crazyresearch.com and want   to email us we knows.

That answer a lot of those emails anyway.

Well sure, I’m premium.

It’s gonna be tomorrow.

That’s our new podcast just ten dollars a month also gives   you access to a dollar stock Club portfolio, which  would give you a trading idea Daniel and myself every single week which we   track provided by up to price for.

Hide the catalysts and in the podcast.

More detailed analysis in the markets stocks making   the news an hour long that podcast.

It’s   been huge since we launched.

Is to reviews have been amazing and I appreciate that.

I tell you’re   gonna provide a very very detailed really No Nonsense   podcast.

And we want to charge for it.

And we should because the details you’re getting there the fact that we’re independent   we could talk about this No Holds Barred not tied   to anyone.

We don’t get paid by Third parties.

We say basically what we find and what   we know about.

Through our research, which is 100%  Independent.

So I really appreciate all the reviews for   watching on premium.

If you’re interested go to wsuoffer.com to   subscribe.

You can cancel anytime you want   but just a monthly service for like 10 dollars a month which   includes a portfolio and again bees are just  Well, this is just one of the topics that we’re gonna discuss along   getting it deep in detail what many many topics   that people want to talk about.

However, it will   lead to more profits for you and also   to avoid the sectors.

That won’t benefit when a lot of this s*** goes down.

Guys, that’s it for me questions or comments.

I’m here   for your friend Chris research.com.

I’ll see you guys tomorrow.

Take care.

Wall Street unplugged is produced by curzio research   one of the most respected Financial media companies in the   industry.

The information presented on Wall Street unplug is   the opinion of its host and guests.

You should   not base your investment decisions solely on this broadcast.

Remember, it’s   your money and your responsibility.

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