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The world is on the brink of a financial reset, with the global elite planning to come out on top, according to Carol Roth, New York Times bestselling author of 'You Will Own Nothing,' who says this threatens to leave the average person losing private property rights, other liberties and being subject to centralized control and draconian oversight.
"There is this change coming," Roth told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. "In many ways, it's not so much that [the elite] intentionally try to keep you down. They are trying to preserve their power and their wealth. And if yours has to go away for that to happen, then that's just okay by them."
Roth warns that a financial world war or major shift in the financial order is coming and adds that it is not as conspiratorial as it sounds.
"If you go to the White House's website and look at remarks that President Biden gave to the business roundtable back in 2021, he talks on a regular basis about things changing in the financial order and says there is going to be a new world order out there," Roth noted
The U.S. is about 80 years into the cycle of being at the center of the global financial system, with the U.S. dollar being the world's reserve currency.
Roth highlights how every “empire” in history has collapsed, losing its financial supremacy, from the Romans to the Portuguese to the British.
"Before us, it was the British; before the British, it was the Dutch. And so I would imagine when you're in that position, you feel very invincible about it," Roth pointed out. "But if we look at the reality of debt loads in the United States and the debt service and all of the printing that's gone around the world, and the fact that the Fed has not done a good job of holding the reserve currency stable, you're seeing some of these shifts happen."
Roth points out that the BRICS Plus countries are actively de-dollarizing and trading in their own currencies, while central banks are selling off U.S. Treasuries and stocking up on gold.
For Roth's take on the decline of the U.S. as a global superpower and the kind of shift that's coming, watch the video above.
"Over the last decade, the amount of U.S. government debt has more than doubled from $16 trillion to over $35 trillion," Roth said. "At the same time, central banks worldwide were net sellers of Treasuries. And the interesting dynamic is that they're not going into another currency per se, but they're going into gold."
World Economic Forum's 2030 agenda
Roth also pointed out that as we see the bifurcation of the global monetary system and the U.S. hegemony wane, there are non-governmental players pushing an agenda that leads to less economic and individual freedoms.
Roth explains why private property ownership is integral to all other rights and how the push to diminish individual ownership is being led by the World Economic Forum (WEF), big technology companies and the United Nations.
“Private property is the guardian of every other right. Property rights are fundamental to wealth creation. Studying wealth creation at the individual level, you can see that the way that individuals create wealth is through ownership,” Roth wrote in ‘You Will Own Nothing.’ “Once you as an individual own nothing, it is easy for the government or similar center of power to gain figurative ownership and control over you. I will say this many times to hit at home, if you own nothing, they own you.”
She highlighted the World Economic Forum's (WEF) 2030 agenda, which lists eight predictions, the top being, 'You will own nothing and be happy.' The post was originally published in 2018 on WEF's Twitter account, now X.
Roth explains that the WEF has made a concerted effort to influence leaders in the public and private sectors to promote its agenda and ideals.
"I encourage everybody to look up the video with Klaus Schwab at the Harvard Kennedy School of Government when he talks about the Young Global Leaders program. And you have people like Canada's Justin Trudeau and Chrystia Freeland, who have been part of these programs, and he cites them — 'I look around, and I know all these people, and they've been part of the WEF's Young Global Leader program.' And so when somebody like Klaus Schwab says, 'We penetrate the cabinets,' I'm not sure what else that might mean other than 'We penetrate the cabinets,'" Roth explained. "So, while this is supposed to be a non-governmental organization, it seems like they're very entrenched in government."
For more background on the WEF and the role Klaus Schwab, the 86-year-old founder of the World Economic Forum, played during the decades he was at the helm, watch the video above.
Since recording this video, the WEF has announced that Schwab will step down as executive chairman and transition to a non-executive role by January 2025.
Central bank digital currencies (CBDCs)
Central bank digital currencies, or CBDCs, are the primary tool in implementing various agendas that threaten freedom, according to Roth.
Roth raises the alarm over the recent progress made around Central Bank Digital Currencies or CBDCs. "A [CBDC] is the number one concern. If you want to do something that's just going to completely destroy the foundation of the United States of America, you bring in a central bank digital currency, and it's just completely over," Roth cautioned. "It is just the absolute most frightening thing for freedom and wealth creation."
What are CBDCs?
Central bank digital currencies are programmable, digital currencies that operate as fiat currency. They are controlled and issued by central banks.
Proponents claim CBDCs can prevent money laundering, deter criminal activities, improve the speed and security of transactions, help fine-tune monetary policy, and allow for financial inclusion.
Critics claim CBDCs are the ultimate tool of control, censorship, and surveillance that can be used to monitor every single payment made and received, obliterating financial privacy and anonymity.
CBDCs continue to see accelerated adoption this year, with 134 countries exploring these options. According to the Atlantic Council, this represents 98% of global GDP.
One of the latest significant developments has been SWIFT - the global bank messaging network - planning a new platform to connect all the CBDCs in development to the existing financial system. The platform is said to launch within the next two years.
Crypto vs. CBDCs
Roth warned that some within the government are manipulating interest in digital currencies and digital assets to mainstream CBDCs and intentionally trying to conflate CBDCs with cryptocurrencies. For more information, watch the video above.
Roth stresses that truly decentralized digital currencies like Bitcoin are the antithesis of CBDCs. "A central bank currency is the exact opposite in terms of purpose and focus and what it stands for than a cryptocurrency where you have something like Bitcoin, which is entirely decentralized," she said.
Roth added that one of the drivers behind the surge in cryptocurrencies, especially Bitcoin, is the growing interest in the decentralized nature of these types of digital currencies.
"That's really what that's about. It's about preserving wealth. It's about having control and freedom," she said. "Every government is exploring a CBDC in some way. [Even] the Fed is running pilot programs and doing research," she noted.
Roth points to gold, silver, Bitcoin, and any other physical metals as hedges against the risks posed by a potential CBDC.
For Roth's take on how to protect your wealth and freedom amid this coming financial shift, watch the video above.
"The idea of ownership has to be viewed through an important lens. If you want to create wealth and have personal sovereignty and freedom, that comes to you through owning things. Through that ownership, assets can retain their value and increase in value. They may want you to own nothing, but I want you to own as much as possible," Roth said.
Kitco Media
Michelle Makori
