Richard Werner
speaker
4,694 appearances
9 recordings
3 series
first heard Jul 2025
last heard 22 May
Richard Werner’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 8 in all, peaking in Apr 2026 with 6.
Appearances
On the one hand, logistics to ensure stable, effective supply routes between China and the rest of the world.
To a large extent on the continent, but not entirely.
There's also shipping belt and road across the seas.
And it's also a way for China to switch out of the dollar.
So it is linked to the Nixon shock, what happened there, the dollar becoming the petrol dollar in the years afterwards under Henry Kissinger's interventions, the petrol dollar, Saudi Arabia being essentially made part of the United States, only selling oil against the dollar, but also reinvesting 80% of its foreign exchange reserves in US treasuries.
That petrodollar system is increasingly being challenged by other countries, and of course by China, the BRICS countries, and the Belt and Road Initiative is a counterparty to that.
And likewise, counterparty to this IMF World Bank system, which is really the continuation of the Bretton Woods system, which is the dollar-dominant system.
china had this problem beforehand that you know as a successful exporter it's earning foreign exchange but mostly it's earning dollars what to do with the dollars and of course it was investing like at the time most countries in u.s treasuries which suited america fine but china decided um sort of 15 years ago well we need an alternative to this we can't keep investing us treasuries because and very few people know this when other countries buy us treasuries
All they're actually getting is a promise on a promise.
Because, you know, treasury is an IOU, it's a promise, right?
But do you know that China doesn't even get those promises?
The US treasury issues government bonds, treasury bonds, but China doesn't get those.
Why?
Well, there's a rule that they're held by the Federal Reserve Bank of New York in custody for foreign governments.
So it's a promise on a promise.
So that, you know, China can't go with these papers and sell them somewhere.
without permission of U.S.
entities, the Federal Reserve.
Now, some may say, well, that's just a technicality.
That's not an issue.
Showing 401–420 of 4,694 · page 21 of 235
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