<b>The first lesson in economics is there</b> <b>are always trade-offs.</b> <b>A Big Mac tastes good,</b> <b>it'll wreck your diet.</b> <b>On the other hand,</b> <b>sweet green is healthy,</b> <b>but it'll probably</b> <b>drain your bank account.</b> <b>Pick your trade-off.</b> <b>Here's another trade-off.</b> <b>If your country announces</b> <b>it's banning gas by 2035,</b> <b>like in states like</b> <b>California, New York, and Massachusetts,</b> <b>it will force</b> <b>oil-producing countries to scramble</b> <b>to find new alternate revenue streams.</b> <b>Enter Saudi Arabia.</b> <b>They are breaking ties to the US dollar</b> <b>and jumping onto</b> <b>China's Enbridge project,</b> <b>which is a state-backed</b> <b>centralized digital currency,</b> <b>or CBDC for short.</b> <b>This is the biggest story of the year,</b> <b>and the mainstream media</b> <b>is totally ignoring it.</b> <b>The Bank for</b> <b>International Settlements announced</b> <b>on Wednesday that Saudi</b> <b>Arabia is now officially</b> <b>a full participant in Project Enbridge.</b> <b>Now this project, which started in 2021,</b> <b>is a collaboration</b>
<b>between the central banks</b> <b>of China, Hong Kong, Thailand,</b> <b>and the United Arab</b> <b>Emirates to test CBDCs</b> <b>for cross-border trade and payments.</b> <b>And they just reached</b> <b>what's called the MVP,</b> <b>or the Minimum Viable Products Stage,</b> <b>which means this project is</b> <b>not just some conceptual idea</b> <b>or a prototype.</b> <b>It's happening for real this time.</b> <b>Recently, the American think tank</b> <b>for international affairs</b> <b>called the Atlantic Council</b> <b>had this to say with</b> <b>the Chinese-Saudi deal.</b> <b>Quote, "Since</b> <b>Russia's invasion of Ukraine</b> <b>"and the resulting financial sanctions,</b> <b>"we have seen</b> <b>cross-border wholesale CBDCs</b> <b>"such as China's Project Enbridge</b> <b>multiply and evolve."</b> <b>Here's another quote from</b> <b>Saudi Arabia's Crown Prince,</b> <b>Mohammed bin Salman, who</b> <b>total associates last year,</b> <b>quote, "We are no longer interested</b> <b>"in pleasing the United States.</b> <b>"This changes everything."</b> <b>It means a lot for the US dollar,</b> <b>but also for Bitcoin and</b> <b>other cryptocurrencies.</b>
<b>Let's break it all down.</b> <b>This is Isaiah McCall from 99Bitcoins,</b> <b>and this is Saudi Arabia</b> <b>Just Broke the US Dollar.</b> <b>Was losing US hegemony part of his plan?</b> <b>(upbeat music)</b> <b>- My name is Joe Biden, I love ice cream.</b> <b>- We consider</b> <b>ourselves politically agnostic</b> <b>at 99Bitcoins.</b> <b>And besides, not to</b> <b>put all the blame on Joe,</b> <b>the US has been</b> <b>heading towards this disaster</b> <b>for several years.</b> <b>The painful truth is the</b> <b>free ride of the dollar is over.</b> <b>The world cannot sustain it.</b> <b>- We're in the money, we're in the money.</b> <b>- Since 1933, the US dollar has lost 92%</b> <b>of its domestic purchasing power.</b> <b>It doesn't help that</b> <b>almost half of global trade</b> <b>is based on this volatile system.</b> <b>But like we said, it wasn't just Biden.</b> <b>Both parties ignore the</b> <b>debasement of currency,</b> <b>which led to the crashes</b> <b>of 2008, 2020, and 2023.</b> <b>It also led to the creation of Bitcoin.</b> <b>Americans sink in quarter-long windows</b> <b>and take military and</b> <b>economic supremacy for granted.</b> <b>Countries like Saudi</b>
<b>Arabia, India, China, Russia,</b> <b>are looking at the long-term picture,</b> <b>bringing out waste to reduce their</b> <b>reliance on US dollars.</b> <b>That leads us to China's</b> <b>new CBDC project, Enbridge.</b> <b>Right now, won settlements</b> <b>and China's</b> <b>cross-border payments rose from 18%</b> <b>nearing 30% by early 2024.</b> <b>And international trade using the one</b> <b>hit a peak of 4.7% in March, 2024,</b> <b>up from 1.9% in 2023.</b> <b>Swift reports.</b> <b>It also might be the</b> <b>reason China is defiant</b> <b>in adopting Bitcoin.</b> <b>Why buy Bitcoin when</b> <b>you have a CBDC instead?</b> <b>The point is, with US sanctions</b> <b>tightening their grip,</b> <b>China's CBDC is</b> <b>emerging as the preferred route</b> <b>for global money transfers.</b> <b>So was it self-sabotage or hubris</b> <b>that got America to this current state?</b> <b>We don't know, mate.</b> <b>Mate.</b> <b>What am I, British now?</b> <b>But we've squandered our advantage.</b> <b>And now we have this,</b> <b>NATO G7 versus BRICS.</b> <b>BRICS is a geo-economic alliance</b> <b>whose members are</b>
<b>Brazil, Russia, India, China,</b> <b>and South Africa, and</b> <b>soon to be Saudi Arabia.</b> <b>The five companies</b> <b>represent nearly 3 billion people</b> <b>and are some of the</b> <b>fastest-growing economies</b> <b>on the planet.</b> <b>You can literally think of these</b> <b>as the team's if, and we said if,</b> <b>a World War III broke out.</b> <b>When you have Putin meeting</b> <b>with North Korean dictator</b> <b>Kim Jong Un, or Putin and</b> <b>Chinese leader Xi Jinping,</b> <b>laughing like old</b> <b>college buddies over beer,</b> <b>you should be very worried.</b> <b>Nearly every country in</b> <b>BRICS plays a huge part too.</b> <b>China is the factor of the world.</b> <b>India is the world's</b> <b>most populous country.</b> <b>Brazil is a large</b> <b>economy in South America,</b> <b>and nice babes too.</b> <b>(upbeat music)</b> <b>And South Africa is rich</b> <b>in a variety of minerals</b> <b>like iron ore and platinum.</b> <b>It's why the rapid</b> <b>development of Enbridge</b> <b>is happening right now.</b> <b>And even big name banks</b>
<b>like HSBC and Ceder Chartered</b> <b>are in Enbridge too, and</b> <b>the list is only growing.</b> <b>And it's not like China</b> <b>is the only one doing this.</b> <b>According to the</b> <b>Atlantic Council tracker,</b> <b>about a dozen CBDCs have launched,</b> <b>and 72 are in research and development.</b> <b>As more central banks adopt CBDCs,</b> <b>the one will eat into dollar supremacy</b> <b>like a vampire for blood.</b> <b>- You must be the head waiter.</b> <b>- Count blood count at your service.</b> <b>- Right now, outside our</b> <b>studio in New York City,</b> <b>people are protesting Trump versus Biden.</b> <b>We swear this right versus left BS</b> <b>is the perfect WWE plot line</b> <b>to distract us from the</b> <b>actual fight going on.</b> <b>US patriotism was supported</b> <b>by 70% of Americans in 1998,</b> <b>and has now dropped to 38%.</b> <b>Having children was at 59%, now 30%.</b> <b>Community involvement,</b> <b>once at 68%, is now at 27%.</b> <b>It makes sense.</b> <b>What happened after 1998?</b> <b>Iraq, the Bushes, the</b> <b>internet, the 2008 housing crisis,</b> <b>trillions of dollars of debt, TBQH.</b> <b>Yeah, look that one up.</b> <b>The Western decline is so plainly obvious</b>
<b>and personally felt by</b> <b>everyone living in America and Europe</b> <b>that we wonder how</b> <b>young you would have to be</b> <b>not to notice it.</b> <b>I mean, look at our</b> <b>channel here at 99Bitcoins.</b> <b>We have guys shilling</b> <b>meme coins every day.</b> <b>And quite honestly, those currencies</b> <b>still make more sense</b> <b>than the US dollar.</b> <b>That's where we're at.</b> <b>So here's what you should do.</b> <b>Macroeconomic stories like</b> <b>what's happening to China</b> <b>and Saudi Arabia are out of your control.</b> <b>Accept that.</b> <b>That means it starts with ignoring</b> <b>the red versus blue outrage</b> <b>and focusing on what you</b> <b>can change in your own life.</b> <b>Bitcoin will have a</b> <b>field day in a global economy</b> <b>with multiple competing currencies.</b> <b>It will likely be a great</b> <b>investment in the coming years.</b> <b>While CBDCs are subject</b> <b>to the rules of the country</b> <b>they come from, Bitcoin</b> <b>has no country it came from.</b> <b>It's the world's</b> <b>currency or the world's asset</b> <b>for wealth storage.</b>
<b>This is a powerful thing.</b> <b>There are also many</b> <b>other cryptocurrencies</b> <b>that thrive in an</b> <b>environment like this, like Ethereum,</b> <b>which will be used to</b> <b>sell global payments.</b> <b>Solana, which is</b> <b>becoming the Apple of crypto.</b> <b>Tongcoin, VeChain and Render.</b> <b>Heck, even meme coins,</b> <b>because who doesn't like to have fun</b> <b>while the world burns?</b> <b>Listen, it will take a Herculean effort</b> <b>to turn the US around.</b> <b>American will pay a harsh penalty</b> <b>for tolerating fools in Washington DC.</b> <b>Within our lifetimes,</b> <b>we will see the dollar</b> <b>increasingly devalued.</b> <b>But all we can do is make</b> <b>the changes in our own lives.</b> <b>As a great Russian</b> <b>author, Fyodor Dasyevsky said,</b> <b>every man is not only</b> <b>responsible for what he does</b> <b>but what everyone else does.</b> <b>In other words, who knows what impact</b> <b>getting your own life</b> <b>together can have on others.</b> <b>And that's all we got.</b> <b>Thanks for watching.</b> <b>You're a 99Bitcoins,</b> <b>we're the number one hub</b>
<b>for crypto education on the internet.</b> <b>So if you liked that video,</b> <b>check out some other ones over here.</b> <b>And know we're meme coins, we promise.</b>