00:00dollar dominance is essential and everything president trump is doing here is you know if you
00:04look uh the the new venezuela is going to is invoicing in dollars they're coming back
00:11on to the dollar system they've been sanctioned they were not allowed to translate or to transact
00:17in dollars and now uh dollar the dollar is going to be the centerpiece of their trade
00:24uh they were selling discounted oil to china and not getting dollars you know we're seeing in the
00:30iranian negotiations the iranians will be uh invoicing in dollars so everything we are doing
00:38is pushing the dollar the back it's never left as the centerpiece for the global currency system but
00:46we're reinforcing it you know i would anticipate uh when the russia ukraine conflict ends that
00:54russia will want to come back in the dollar system because again you know the the dollar it's our
01:00liquidity it's our capital markets it's the depth and breadth everyone wants to be here and i think
01:06many times the great great thing about the united states is we we course correct when we go too far
01:12one way or the other and i think we should not be the shy about flexing where we have advantages
01:20and
01:21where we have advantages share with our allies and push back the uh on those who the are not aligned
01:29with
01:29us
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