When so many find themselves will depart. We choose to look for common ground. The i a mass guys are, this is be kaiser re port. Well, you know, we also coming off different places. I think, right, well you and i have been covering here on the Kaiser Report for the last decade at least, but especially with the last 6 months of as we lead up to the 50th year of fi at when the u. S. Went off the Gold Standard and august, 15th 1971. Weve been looking at all the problems with the Trip And Dilemma with you know, all the consequences of the exorbitant privilege. And one of the things you see is, as weve covered in nigeria, where theyve turned to bitcoin, weve seen hyper quantization there because they had no access to dollars during this crisis. During cove it as World Trade shut down, were seeing a similar situation emerge and Sri Lanka. And i believe bitcoin facts as this Sri Lanka declares food emergency. As for ex, crisis Orphans Sherlock has declared a state of emergency over food short
I know, he said i was whole heartedly behind the cup of Tea Party of change though, im off to express my support with a cup of coffee party, almost called a floating voter. Ill be back with more in half an hour the the hi a mash guys or this is be kaiser re port. Well here now, we also coming off different places. I think. Right, well you and i have been covering here on the Kaiser Report for the last decade at least, but especially with the last 6 months of as we lead up to the 50th year of fi out when the us went off the Gold Standard in August 15th 1971, weve been looking at all the problems of the Trip And Dilemma with, you know, all the consequences of the exorbitant privilege. And one of the things you see is, as weve covered in nigeria, where theyve turned to bitcoin, weve seen hyper quantization there because they had no access to dollars during this crisis. During cove it as World Trade shut down, were seeing a similar situation emerge and st mancha. And i believe bitcoin fixe
The Trip And Dilemma is that theres always going to be that dilemma where a currency a national currency is the worlds reserve currency. Is during a time of crisis, whether its the 22009. 00 financial crisis, or the Coven Pandemic locked down. What happens is, you know, obviously the elected leader is going to allocate all their time and resources to the domestic population. An international population therefore has no currencies with which to trade. We saw that with nigeria, thats why they went to hyper quantization because there was still there economy by the way, didnt shut down that much because as much younger and they cant afford to shut down. So they had demand still for it used cars and nigeria, but there was no you, there were no us dollars with which to trade with Japan Or Trade with china for used cars to be imported into nigeria. So either they could just say it, ok, well, because we cant get dollars, were just going to starve to death. Instead they turned to bitcoin and he
The commit three come to order. F without objection, the chair is authorized to declare recess of the committee at any time. As a reminder to all member, we have a hardo stop at 1 30 p. M. Members who are iounable to ask their questions at Todays Hearing will be given priority at the next hearing with the secretary. Pursuant to house rules, the committee will continue to provide accommodations for members who request to participate in hearings be virtually, but i am very happy to have the vast majority of the members and our witness participating in personn here today. As a reminder, those who are not fully vaccinated must continue to wear Ara Mask in the Hearing Roomer and practice social distancing, but i would also like to encourage our members to continue wearing o masks if the Feel Morera comfortable doing s so members, we have a little bit of the problem with the timing apparatus here this morning. We canan see the timing here wh your five minutes are up. The witness can see her
Have some weekend plans, good morning. Rey. Yes, its early risers that are always showing us here at 04 00am and. Were here with you as youre barely getting those eyes open. Were looking outside at some conditions this morning that are really nice overall. We dont have a whole lot of fog to be talking about, which is certainly a nice way to start your commute. Knowing that visibility is going to be aok. A look outside at our quick Tower Cam this morning does show you that shine and pretty brightly on Coit Tower right there. Definitely no low fog. At least to obscure it. We do have Air Quality. Thats a bit more moderate than yesterday. We saw some of that poor Air Swinging back from the north into the region late yesterday. It wasnt. How did have a huge impact on us. But just enough to return much of the Bay Area. Back to that moderate level of Air Quality not enough to be much of an issue. But something i did one note for you this morning. Not quite as crystal clear as a special Yester