AMERICA HAS PROBLEMS AMERICANS ARE NOT WINNING THEIR BATTLE AGAINST OBESITY GUN VIOLENCE IS
SURGING ACROSS THE U.S SO FAR THIS YEAR THERE HAVE ALREADY BEEN 154 MASS SHOOTINGS ONE IN
FIVE AMERICANS ARE IN COLLECTIONS FOR MEDICAL DEBT TWO-THIRDS OF ALL BANKRUPTCIES IN THE U.S
ARE TIED TO MEDICAL DEBT AMERICA IS THE MOST OBESE COUNTRY THE MOST MEDICATED COUNTRY THE
COUNTRY WITH BY FAR THE HIGHEST ANXIETY RATES AND IN THE U.S TENS OF THOUSANDS ARE KILLED BY
GUN VIOLENCE EVERY YEAR THIS IS A PROBLEM THAT IS GETTING WORSE WITH LITTLE SOLUTIONS IN SIGHT MANY
OF US ARE WONDERING IF AMERICA IS ON THE DECLINE FOR THE FIRST TIME THE U.S EVEN WAS ON THE LIST
OF BACKSLIDING DEMOCRACIES POINTING TO A QUOTE VISIBLE DETERIORATION THAT BEGAN BACK IN 2019.
THERE IS A LOT OF TALK ABOUT AMERICAN DECLINE IT'S THIS WHOLE IDEA THAT THE U.S IS LOSING
ITS POWER ECONOMICALLY FINANCIALLY POLITICALLY AND EVEN MILITARILY I MEAN THE US JUST LAUNCHED
A PROGRAM TO SLIM DOWN ITS TROOPS BECAUSE THERE WEREN'T ENOUGH WHO WERE PHYSICALLY FIT FOR DUTY
SO IS THE U.S ACTUALLY IN DECLINE OR IS THIS JUST BEING SUPER CRITICAL OF THE WORLD'S SUPERPOWER
BECAUSE IN A WAY THAT'S BEEN DONE SINCE THE US WAS FOUNDED 30 YEARS AGO IN 1992 HARVARD
BUSINESS REVIEW PUBLISHED THIS ARTICLE TITLED IS AMERICA IN DECLINE AND THE ARTICLE STATED A NATION
ONCE CELEBRATED FOR ITS IRRESPONSIBLE OPTIMISM NOW APPEARS TO BE OBSESSED BY DECLINE AMERICA'S LIST
OF COMPLAINTS SEEM ENDLESS REAL WAGES ARE FALLING PRODUCTIVITY GROWTH IS DOWN COMPANIES AREN'T
COMPETITIVE IN GLOBAL MARKETS WHITE-COLLAR JOBS ARE NO LONGER SECURE THE NATION'S INFRASTRUCTURE
IS COLLAPSING THE FEDERAL DEFICIT IS SOARING THE HEALTH SYSTEM IS DETERIORATING THE CITIES
ARE UNSAFE THE SCHOOLS ARE FALLING THE GAP BETWEEN THE RICH AND POOR IS WIDENING IMAGINE THE REPORTER
WROTE THAT THE CITIES ARE UNSAFE IF ONLY HE COULD SEE DOWNTOWN LOS ANGELES OR SAN FRANCISCO IN 2023
BUT MAYBE OUR PROBLEMS ARE NOT WORSENING PER SE MAYBE THEY'RE JUST CHANGING AND EVOLVING
BUT DESPITE ALL THE SAD AND COMPLETELY LEGITIMATE PROBLEMS THAT AMERICA DOES FACE THERE IS ONE MAIN
REASON THAT THE US IS WINNING ESPECIALLY RIGHT NOW AND I ONLY REALIZE THIS AFTER MY TRAVELS LAST YEAR
I VISITED 23 COUNTRIES AND I REALIZED THAT PEOPLE STILL REALLY LIKE AMERICA MANY WANT TO MOVE TO
THE U.S SO I ASKED MYSELF WHY DESPITE ALL THESE PROBLEMS DO SO MANY PEOPLE STILL SAY THEY WANT TO
MOVE TO THE U.S IS IT THE INFLUENCE OF HOLLYWOOD NO I REALIZED IT'S THIS THE US DOLLAR WHEN TWO
COMPANIES WANT TO DO BUSINESS IT'S USUALLY DONE WITH THIS EVEN IF THEY'RE NOT IN THE U.S IN
FACT 11 COUNTRIES BESIDES THE US HAVE OFFICIALLY ADOPTED THE US DOLLAR AS THEIR OFFICIAL CURRENCY
ECUADOR EL SALVADOR AND PANAMA I MEAN THIS IS WHAT COMES OUT OF THEIR ATMS MEANWHILE OTHER COUNTRIES
UNOFFICIALLY USE THIS CONSTANTLY LIKE CAMBODIA AND RECENTLY LEBANON THIS PIECE OF PAPER IS ULTIMATELY
WHAT HOLDS POWER OVER EVERY OTHER COUNTRY PEOPLE WANT TO GET PAID IN THIS I MEAN LOOK AT WHAT'S
HAPPENED TO THE CURRENCY OF RUSSIA TURKEY OR LEBANON JUST IN THE PAST FEW YEARS AND THE US
DOLLAR ISN'T JUST STABLE BUT COMPARED TO LIKE THE EURO IT'S ON FIRE IS THE US DOLLAR REPLACEABLE
WITH DECADES THE U.S GREENBACK HAS ESSENTIALLY BEEN THE DE FACTO GLOBAL CURRENCY I DON'T WANT
TO BE OVERLY DRAMATIC BUT I THINK IT'S I WILL USE THE WORD DOOM WHEN THERE IS INSTABILITY IN
OTHER COUNTRIES PEOPLE NEED A SAFE PLACE TO PUT THEIR MONEY OR TO MAKE MONEY IN SO WHEN THERE'S
A CRISIS IN VENEZUELA OR RUSSIA OR LEBANON IT ONLY MAKES THIS MORE DESIRABLE TO PEOPLE
BECAUSE IT'S SOMETHING YOU ACTUALLY TRUST TAKE ARGENTINA FOR EXAMPLE IT USUALLY HAS 50 ANNUAL
INFLATION BUT LAST YEAR IT REACHED 100 INFLATION SO NO ONE WANTS TO HOLD THAT CURRENCY SO LITERALLY
WHAT THEY DO IS THE MOMENT THEY GET PAID THEY GO AND BUY ALL THEIR GROCERIES THEY NEED BECAUSE IF
THEY WAIT EVEN A DAY OR TWO THOSE PRICES WILL GET HIGHER AND THEN WITH WHATEVER MONEY THEY HAVE LEFT
THEY CONVERT IT INTO US DOLLARS AND STASH IT ON UNDER THEIR MATTRESS YES THAT'S NOT AN EXPRESSION
MILLIONS OF ARGENTINIANS ACTUALLY HAVE USD UNDER THEIR MATTRESSES AND PILLOWS IN FACT
IT'S ESTIMATED THAT 75 OF 100 BILLS ARE NOT USED IN THE US THEY'RE USED ABROAD EVEN WHEN COMPANIES
IN ASIA ARE BUYING OR SELLING GOODS AND SERVICES THEY AREN'T USING CHINESE YUAN OR THE JAPANESE YEN
THEY'RE USING THIS THREE AND FOUR TRANSACTIONS IN THE ASIA-PACIFIC REGION WERE IN US DOLLAR SO WHAT
IS WITH THE WORLD'S OBSESSION OVER THE US DOLLAR THERE ARE THREE MAIN REASONS HERE NUMBER ONE THE
US DOLLAR IS STRONG BECAUSE IT IS WIDELY ACCEPTED THAT MEANS A LOT OF BUSINESSES AND COUNTRIES ARE
WILLING TO ACCEPT US DOLLARS AS PAYMENTS THIS MAKES IT EASY FOR PEOPLE TO USE US DOLLARS WHEN
THEY TRAVEL OR BUY THINGS FROM OTHER COUNTRIES IT'S A BASIC CONCEPT OF DEMAND IF EVERYONE AGREES
THAT WE VALUE THIS THEN IT BECOMES VALUABLE YOU CAN ALSO APPLY THIS TO PRADA AND WHY IT SELLS
TWO THOUSAND DOLLAR HANDBAG AND YOU CAN EVEN APPLY IT TO BITCOIN WHEN WE COLLECTIVELY SEE BITCOIN AS
VALUABLE ITS PRICES GO UP WHEN WE DON'T ITS PRICES GO DOWN THE SECOND REASON IS THAT THE UNITED
STATES IS A SAFE AND STABLE COUNTRY DESPITE MASS SHOOTINGS AND THE CAPITAL BUILDING BE STORMED BY
RIOTERS YOU CAN ALMOST GUARANTEE THAT THE COUNTRY WON'T FALL INTO COMPLETE CHAOS AND LOSE LAW AND
ORDER SO THIS MEANS PEOPLE FEEL SAFE INVESTING THEIR MONEY IN THE UNITED STATES BECAUSE THEY
KNOW THAT IT IS UNLIKELY THAT ANYTHING BAD WILL HAPPEN TO IT AND WHEN PEOPLE FEEL SAFE THEY ARE
MORE LIKELY TO USE THAT COUNTRY'S MONEY FINALLY THE US DOLLAR IS STRONG BECAUSE THE U.S GOVERNMENT
WORKS HARD TO KEEP IT THAT WAY THE GOVERNMENT DOES THIS BY CONTROLLING HOW MUCH MONEY IS IN
CIRCULATION AND BY MAKING SURE THAT THE ECONOMY STAYS STRONG NOW YOU COULD SAY THAT MAYBE IT
DIDN'T DO A VERY GOOD JOB OF THIS OVER THE PAST TWO YEARS DURING THE PANDEMIC IT GAVE OUT A LOT
OF MONEY AND BENEFITS THAT ULTIMATELY LED TO RECORD INFLATION THE US DOLLAR SAW ITS HIGHEST
INFLATION IN 40 YEARS THAT MEANS THAT IT'S LOSING ITS VALUE NO DIFFERENTLY THAN HOW THE ARGENTINIAN
PESO IS LOSING ITS VALUE TOO IT'S JUST THAT THIS IS HAPPENING AT OBVIOUSLY A MUCH SMALLER RATE SO
DESPITE ALL THE PROBLEMS IN AMERICA YOU SIMPLY CANNOT DENY THAT AS LONG AS PEOPLE SEE THIS AS
VALUABLE IT WILL STILL HOLD A LOT OF POWER SO NOW THAT WE KNOW HOW VALUABLE THE US DOLLAR
IS COULD IT BE THREATENED I MEAN YES SORT OF BUT NOT REALLY THE EURO IS A POSSIBLE GOOD CONTENDER
BUT IT'S FALLEN TO A 20-YEAR LOW TO THE US DOLLARS SO PEOPLE DON'T REALLY WANT THAT THE CHINESE YUAN
WELL POSSIBLY BUT ONLY THREE PERCENT OF GLOBAL TRADE IS DONE IN CHINESE YUAN RIGHT NOW HOW ABOUT
BITCOIN WELL BITCOIN WAS DEEMED TO BE THE BIGGEST THREAT TO THE US DOLLAR BUT SEEING HOW MUCH OF
ITS VALUE HAS BEEN LOST THE PAST SIX MONTHS IS MAKING PEOPLE REALLY QUESTION ITS LEGITIMACY SOME
PEOPLE EVEN WONDERING IF THEY COULD GO TO ZERO SO THE ANSWER IS NO THE US DOLLAR SIMPLY CAN'T
BE REPLACED AT LEAST FOR NOW THERE IS NO VIABLE CONTENDER AND AS LONG AS THIS CURRENCY IS SO
HIGH IN DEMAND IT WILL CONTINUE TO WIN AROUND THE WORLD MOST COUNTRIES HOLD WHAT'S CALLED RESERVE
CURRENCIES THINK OF THIS AS A CURRENCY THAT'S USED FOR INVESTMENTS TRANSACTIONS AND PAYING DEBT
GLOBALLY THE SHARE OF FOREIGN EXCHANGE RESERVES OF THE US DOLLAR IS ABOUT 60 PERCENT BUT THAT'S
ACTUALLY FALLING AND IT'S NOW AT A 25-YEAR LOW BUT LOOK AT THIS CHART YES THE US DOLLAR DID FALL FROM
70 TO 60 PERCENT OVER THE PAST 25 YEARS BUT JUST TELL ME THIS WHERE IS THE COMP PETITION [MUSIC]