Hidden Forces

You Will Own Nothing: Your War with a New Financial World Order | Carol Roth

Thu Jul 13 2023

Financial World OrderWealth InequalityDe-dollarizationPersonal FreedomGlobal Finance

Description

The episode explores the concept of a new financial world order that will fundamentally change the fortunes of many people. It discusses the role of international organizations, governments, and multinational corporations in bringing about this new order. The conversation also delves into the technological, socio-cultural, and spiritual forces driving people's awakening and explores ways for individuals to regain control over their finances, lives, and narratives. The episode covers topics such as wealth inequality, central bank policies, de-dollarization, and the erosion of personal freedom.

Insights

The New Financial World Order

The new financial world order is driven by international organizations, governments, and multinational corporations. It aims to control people's lives and prevent them from owning assets.

Wealth Inequality

Wealth inequality is increasing due to central bank policy and corporate actions. China is attempting to create a more equitable distribution of wealth through increased domestic consumption.

ESG Initiatives

ESG initiatives may have unintended consequences on wealth generation and human flourishing.

Power Dynamics and Personal Freedom

There are concerns about power dynamics, control over people's lives, and the erosion of personal freedom.

Instability of the US Dollar

The US dollar's instability and potential de-dollarization have significant implications for global finance and trade.

Preparing for Shifts in the Global Financial Order

Preparing for potential chaos and shifts in the global financial order is important for navigating the future effectively.

Censorship and Content Moderation

Censorship, content moderation, and social credit systems raise concerns about personal freedom.

Summary

Transcript

Introduction

00:00 - 07:35

Carol Roth is the author of the book 'You Will Own Nothing, Your War with a New Financial Order and How to Fight Back.'
The book argues that we are on the precipice of a new financial world order that will fundamentally change the fortunes of many people.
The conversation explores how this new order is being brought about and the role of international organizations, governments, and multinational corporations in facilitating it.
The second part of the episode delves into the technological, socio-cultural, and spiritual forces driving people's awakening.
It discusses how to differentiate between fear-mongering misdirection and credible sources of information.
The conversation also explores what individuals can do to regain control over their finances, lives, and narratives.

Carol Roth's Background

07:08 - 13:22

Carol Roth comes from a blue-collar family and was interested in finance from an early age due to her father's financial savvy.
She attended Wharton School at the University of Pennsylvania and started her career in corporate finance and investment banking.
Roth helped mid-stage growth companies raise capital for expansion through mergers, acquisitions, etc.
While working as an investment banker, she received calls from small businesses seeking financial advice but couldn't afford investment bank services. This led her to explore ways to help average people succeed through media messaging at scale.
Roth has had a diverse career including TV punditry, writing books, investing in companies, sitting on boards, and writing an economic newsletter.
Her core focus is preserving freedom and opportunities in wealth creation for everyone.
Roth paid off her college debt of $40,000 in a year and a half through austerity measures.
She started appearing on television and radio to reach a wider audience with her message.

The New Financial Order

13:02 - 20:19

The second book, titled 'The War on Small Business', chronicles the decision-making during the pandemic and the transfer of wealth from Main Street to Wall Street.
The third book explores barriers to wealth creation, such as central banks, government policies, social credit, digital currencies, ESG, and college issues in the US.
The title 'You'll Own Nothing' comes from a viral video by the World Economic Forum predicting that people will not own property in the future.
Initially skeptical of this prediction due to its implications for wealth creation, further research confirmed it was a genuine prediction by the organization.
Various entities like central banks, governments, big businesses, and big tech aim to control people's lives and prevent them from owning assets.
Data shows that millennials outearn boomers on an inflation-adjusted basis but have less overall wealth and homeownership due to increased housing costs driven by central bank and government policies.
Low interest rates and money printing have inflated asset values, benefiting asset holders but disadvantaging savers and retirees.
College education may lead to higher income, but the debt required for it hinders wealth accumulation for young people.
Government nationalization of student lending and lack of bankruptcy options contribute to the debt cycle for young people.
Rising asset prices and high levels of debt make it difficult to grow wealth.
The book explores a hypothesis that global elites are attempting to dominate the US government and shape the shifting global financial order.
The US has been at the center of the global financial order for about 80 years, but previous powers like Britain also experienced shifts in dominance.
The US has high levels of public debt and unfunded liabilities, which pose sustainability challenges.
The US dollar's instability affects both domestic economy and global trade, creating economic and national security concerns.
The instability of the US dollar is a concern for both the domestic economy and the global stage.
Financial sanctions on Russia have led to doubts about the privilege of the US dollar as the world's reserve currency.
Joe Biden's speech on a changing global financial order suggests a new world order led by China.
The shift in financial power occurs every three to four generations, and leaders want to ensure they remain in control.
There is a risk of wealth inequality and central planning leading to a decline in prosperity.

Wealth Inequality and De-dollarization

19:59 - 27:00

The top 1% is owning more and more of the wealth, driven by central bank policy and COVID policy.
Corporate buyers are purchasing single-family homes to rent out instead of selling them to families.
These corporate buyers try to sell the idea as convenient and amazing for individuals.
The house is the number one asset in terms of value in the United States and many other countries.
There is a conspiracy among elites operating in the international domain, but it may not be responsible for the hollowing out of the middle class.
China is trying to create a more equitable distribution of wealth by increasing domestic consumption.
ESG (Environmental, Social, Governance) is an attempt by certain organizations to push their ideas onto the world for their own benefit.
The outcomes of these efforts result in fewer wealth generation opportunities and less human flourishing.
This push towards owning nothing is explicit and has financial implications.
Various forces are pushing towards a future where individuals own nothing.
Different organizations and groups have different objectives but all contribute to the idea of owning nothing.
There is growing concern about power dynamics and control over people's lives.
The conspiracy theories surrounding power structures are difficult to differentiate from actual plans.
The US dollar has been unstable in terms of purchasing power due to Fed policies and inflation.
Asset inflation has been considered separate from general inflation, benefiting the wealthy.
The purchasing power of the dollar has eroded since the establishment of the Fed in 1913.
Exporting inflation has caused difficulties for emerging markets and countries that import in dollars.
Reduced dependency on the dollar will have significant implications for financing government debt.
The future of dollar hegemony and de-dollarization is a topic with various opinions.
De-dollarization is happening as central banks are no longer net buyers of treasury securities.
Countries like Brazil, Russia, India, China, and South Africa are exploring alternatives to the dollar.
China has been buying more gold and offering settlement opportunities in exchange for gold.
The US government's large deficits may become a problem if there is no central bank demand to buy treasury securities.
There is a desire to find alternative ways to trade and settle outside of using the dollar.
A shift away from dollar hegemony could lead to changes in access to goods and potential military issues.
Historically, a shifting global financial order has been preceded by war.
Preparing for potential chaos and shifts is important to navigate these changes effectively.
The dollar is considered stable because of the very liquid treasury market.
A new group of people would find it difficult to create a market mechanism for their currency.
The bricks countries could potentially start selling bonds to retail investors to create liquidity.
Building a European bond market has been challenging, so it's unclear how the bricks countries would do something similar.
There are concerns about censorship and content moderation on social media platforms.
The social credit system in China has similarities with what is being put into place elsewhere.
It's important to understand how we can resist these changes and protect personal freedom.

Key Insights

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The new financial world order is driven by international organizations, governments, and multinational corporations.
Technological, socio-cultural, and spiritual forces are driving people's awakening.
Different entities aim to control people's lives and prevent them from owning assets.
Wealth inequality is increasing due to central bank policy and corporate actions.
China is attempting to create a more equitable distribution of wealth through increased domestic consumption.
ESG initiatives may have unintended consequences on wealth generation and human flourishing.
There are concerns about power dynamics, control over people's lives, and the erosion of personal freedom.
The US dollar's instability and potential de-dollarization have significant implications for global finance and trade.
Preparing for potential chaos and shifts in the global financial order is important for navigating the future effectively.
Censorship, content moderation, and social credit systems raise concerns about personal freedom.