Kevin O’Leary: 'Get Over It', There Is No De-dollarization and No Country That Matters Dumping USD

"I have moved into the camp that the Fed needs to pause for three months," says Kevin O'Leary, business mogul and star of ABC's hit TV series Shark Tank. "I think we are more near four and a half inflation. I think the way [the] CPI is calculated is a mistake and needs to be fixed," he tells Daniela Cambone. "Liquidity for loans has completely dried up in the past few weeks, you cannot get any capital," O'Leary argues. "There is a big problem brewing here and the Fed needs seriously to look at this," he exclaims. "I think we have some real soul-searching to do in America about how many of these regional banks are going to survive and how many people want to support them in perpetuity," O'Leary continues. "What is the possible reason that the value of a regional bank is going up when there is crushing regulation coming?" he asks. "To be completely out of equities is probably risky as well. If it's true that we are stalled out here on rate hikes, this is as good as it's going to get on treasuries," O'Leary argues. "The only thing that really matters for the U.S. is what is the default currency of the world and who brokers the power. Those are the two issues at stake," he says. "Nobody trusts the Chinese government. Nobody is going to take the Chinese yuan instead because of this," O'Leary concludes.

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00:00 Kevin’s thoughts on the Fed, CPI, and inflation
3:47 Problems facing companies
4:41 Bank management issue
6:48 Are banks improving their management?
7:11 Kevin won’t buy regional bank stocks
7:47 Macro economics prediction
9:20 Sectors worth investing in
10:50 Assets outside the banking system
12:06 Accounts freeze in Canada
13:02 COVID tax credit for employers
16:13 U.S. dollar default currency
18:56 De-dollarization situation
21:24 Should parents help their adult children financially?
22:44 Canada bans TikTok on government devices