Transcription
Hi everybody. I am Holly Seleno and today is Friday, April 10th.
So I did not do a Friday update last week. I was traveling for work so couldn't pull it off. So I apologize for those of you that look forward to it.
So where are we at? Well, you know, there was a lot of expectation for Easter, the start of things, and then Trump made the ultimatum on Tuesday, that he was going to bomb Iran if they didn't open the straight, and they came to an agreement, though Iran still has been bombing. So, I don't know what's happened with the ceasefire. We'll see what happens with that.
Um so we are in a global currency reset and I'm going to read you something because um a lot of people don't know what this is. So a global currency reset refers to a large-scale coordinated adjustment of the world's monetary system often involving the revaluation of currencies and a shift in the primary reserve currency such as moving away from the US dollar. It is viewed as a systematic overhaul intended to address long-term financial imbalances such as high debt levels, inflationary pressures, and geopolitical tensions.
Reevaluating currency values, adjusting the exchange rates of currencies to reflect their real economic strength rather than their current market value. Replacing the reserve currency, shifting away from the US dollar as the dominant global reserve currency, potentially toward a basket of currency currencies such as SDRs or a new gold-backed or digital currency. We've been hearing about that. Monetary system overhaul. Moving from a debt-based fiat system to one potentially backed by tangible assets like gold, silver, or commodity-backed currencies. Digital integration, the introduction and adoption of central bank digital currencies, CBDCs, I know that's a big trigger word, um to increase transaction transparency and efficiency.
So the rising global debt, sovereign debt levels exceeding 300% of GDP in major economies, US, Japan, China make the current system unsustainable. Well, we all know that we've been following this dedollarization. Nations particularly BRICS members which is Brazil, Russia, India, China and South Africa are actively reducing their reliance on the US dollar for in international trade to mitigate the impact of US sanctions and loss of confidence. Concerns regarding inflation, sustained deficits, and the devaluation of major currencies have decreased trust in the existing monetary order.
So that's what we're working towards. It's a long-term overhaul of all these monetary systems behind the scenes and moving to a digitalized system. So, we have Iran right now as a hot spot and all 209 countries have to be on board for this to move forward. They're not going to leave any country behind. There's a couple of little hot spots elsewhere. So, until this is resolved, we're not going to see anything happen. So unfortunately until these global issues are resolved, we have to sit patiently and wait.
And I want to play a video. Uh let me do screen share that is um really good on where we're at. Let me move this down and play this. That behind the scenes, the technical backbone of the financial system is decades out of date, many, many years out of date. You know that Paul and others are straightening it out. But payments and money transfers are costly and take days or even weeks to clear. Under this bill, the entire ancient system will be eligible for a 21st century upgrade using the state-of-the-art crypto technology. Who would have thought we would have been saying that two years after. And that is true. Who would have thought we would be saying that two years after, you know, with what's gone on?
So, we are definitely seeing changes. It's happening. It's slower than we all want. But we have to just be patient with the process. But we can see movement. When you see this situation with Iran being corrected, then you'll know we are that much closer.
All right, everybody. Have a great week, weekend, and I'll see you next week. Take care. Bye.