Carol Roth

So there are different ways that you could get around that.

You can have the banks lend to each other, even if you needed some sort of cash and settling up and setting market rates, like they can do that in a market fashion.

So the only reason you need the central bank today

is to make sure that the system that has been created globally doesn't completely collapse and implode.

So it's a system that never needed to be in place and has created all kinds of issues and hardships.

But the idea that we could just...

completely pull the plug on it one day and not have massive consequences, especially for the U.S.

right now, given our fiscal situation and what likely needs to happen.

If we let the market decide, you know, what the real cost is of financing the government, like we're pretty much done tomorrow.

You know, so the so it's one of those things.

It's horrible.

we should start to remove more and more of their powers but you know even though like the kind of you know anarchist in me is like hey let's just blow the whole thing up anyway you know it's just it's not

it would be a really bad outcome.

And so I do think that there's probably something that happens that leads to different kinds of financial global resets.

And I think we're going to see things like gold become more of a de facto reserve currency.

And as we start to

extract ourselves from this fiat system, which is going to be a painful scenario if we can, and assuming Congress can get their act together, which is highly unlikely in terms of spending, then we could have a legitimate conversation as, do we need all of this plumbing in the system?

And the reality is that once...

the dollar's already losing some of its status i mean it's still you know the top non-precious metals based reserve is still used in a ton of global trade but that is continuing to shift and change and there's active pushes to continue to shift and change that but as the dollars become less important if we start seeing things like trade wars being fought with capital wars

meaning all of the countries that are invested in our bond stock markets start to pull money out of those markets and the dollar becomes less and less important than, you know, the whole financial sector itself, which is a huge sector, you know, one of the top sectors in