TRUMP vs. BRICS. Will the U.S. Dollar Retain World Reserve Currency Status? | Hn 81

On this "crossover" episode, Adam Haman and Bob Murphy talk about Trump's threatened tariffs on BRICS nations if they try to topple the US dollar's status as the reserve currency of the world. What is it all about? What will happen next?

00:00 -- Intro. Adam makes a great joke that he totally stands by.
01:30 -- Trump's inflammatory tariff/BRICS Tweet is read -- with capitalization choices deciphered. Bob weighs in on what's going on and introduces us to a new term: purchasing power parity.
09:47 -- Adam briefly describes the composition of BRICS and their relative sizes. Bob comments on the geopolitical strategy decisions involved with these matters.
13:58 -- Adam asks: Don't US officials realize they threaten the US dollar reserve currency status when they "use" it to punish countries that they are displeased with?
18:46 -- Adam asks: What type of currency is BRICS likely to attempt to create or switch to?
23:14 -- Trump's defenders say he's just bluffing (as a master negotiator will). Does Bob buy this argument? What is Trump thinking? What is likely to happen next?
31:35 -- Adam asks: How should we analyze these matters given national security considerations? Also: Fiat money is trash anyway. Why try to save it?
38:01 -- You know things are weird when you can't decide whether it's good or bad that our enemies have hypersonic missiles that we can't defend ourselves against.
40:48 -- What does Bob think is the most likely "end game"? Will fintech eventually set us all free? Also, what other corporate/government shenanigans are happening in the world that we should be worried about? Related: Is Elon Musk setting himself up to be Dr. Evil?
49:30 -- Adam talks about a theory (article linked below) about why smart people are so dumb about politics. Then Bob explains the mechanics of trade deficits and what the true effects of tariffs are.
58:05 -- Outro.

Haman Nature article referenced: https://hamannature.substack.com/p/why-are-smart-people-so-stupid-about

Adam on X: https://x.com/Rerazer
Bob on X: https://x.com/BobMurphyEcon

The Bob Murphy Show: https://www.bobmurphyshow.com/

The Human Action podcast: https://mises.org/podcasts/human-action-podcast

Join us at: https://hamannature.substack.com/

Adam's other podcast: https://naturalorderpodcast.com/