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The Secondary Economy

April 9, 2023  |  Steven Place
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Map of the world with secondary economy countries

Map of the world with secondary economy countries

The U.S. has been such a dick about foreign policy over the past decade…

I’m not surprised other countries are finally getting around the dollar hegemony. 

On March 29th, Florida Senator Marco Rubio went on Fox News to sound the alarm about the parallel economy developing among the BRIC countries.

What The Status Quo Looks Like

  • Brazil’s deal with China to trade commodities in their currencies.
  • Russia’s increased use of the Chinese Yuan in international trade.
  • India’s 18-nation alliance to trading commodities in Indian Rupees
  • China’s deal with France to trade crude in the Chinese Yuan.
  • The China-Venezuela deal to trade crude in the Chinese Yuan.
  • And more… including Saudi Arabia’s declaration to accept the Petroyuan (not Petrodollar) in crude oil deals and Iran’s trade alliance with Russia and China.

“They’re creating a secondary economy independent of the U.S.,” Rubio warns.

“We won’t have to talk about sanctions in five years because there will be so many countries transacting in currencies other than the dollar… that we won’t have the ability to sanction them,” the 51-year-old Florida Senator explains.

I don’t agree with most of Rubio’s views.

And I couldn’t care less if he loses his seat next year.

Still, I can’t deny he has a point here.

Pre-2020, none of this would’ve happened.

But a bunch of chumps runs the State Department, and worse…

The Federal Reserve’s emergency rate hikes are like…

Putting A Band-Aid Over A Severe Bullet Wound

It may stem the bleeding for a while, except the damage’s already been done… And quantitative tightening won’t erase the consequences of reckless policies in years past.

Hence, a secondary economy is unfolding before our eyes.

And unless there’s a miracle, we’re in for one helluva ride.

With more countries moving away from the petrodollar, I expect America to be stuck with hundreds of billions of dollars nobody wants, leading to massive inflation.

As I mentioned in last week’s editorial, there are implications for anyone with money in stocks, bonds, gold, crypto, 401k, pension, private investments, etc.

Still, if you’re anything like my clients, none of this surprises or scares you.


Because it’s another layer of the “financial black hole” I warned of last year.

As with all significant financial resets, fortunes will be made and lost.

A New Rich & Poor Class Will Emerge

But to maximize the opportunity, you must first get out of the way with your cash.

Then diversify accordingly into any of the three assets poised to shoot up as we brace for a massive realignment of international trade.

Ultimately, what you do today determines what side you end up on.

Need help navigating these volatile market conditions?

I share more in my video presentation about this crisis.

Detailing critical steps I’ve taken to protect and grow my cash in difficult times ahead…

And how to ensure you don’t get caught up in this month’s “bear market trap.”

Click here to watch the video here while it’s available.

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Steven Place
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