The US is a fiat-paper giant economy
China-India-Russia they make stuff. How to measure economies without GDP?
China-India-Russia they make stuff. How to measure economies without GDP?
China-India-Russia they make stuff. How to measure economies without GDP?
What did I tell you this week and the past week? Now It is clear. I would expect even more shenanigans between now and January with more BULLISH manipulations and price suppressions. Keep buying when they suppress.
Can we get rid of the Fed in a Bitcoindollar system?
“Hypothetically, over time, trade finance and trade could even start to involve—or revolve around—the Treasury rather than the private sector and banking system. In the extreme, T-Bills would be akin to US export quotas of a sort.”
The key point here is that stablecoins, unlike Eurodollars (which are also outside the Fed’s control but remain liabilities of the issuing bank), feed directly into US debt. Because they are backed with T-Bills, and can be self-custodied outside the banking system and can be transacted with far less friction than fiat-banking Eurodollars, this makes it likely that USD stablecoins will increasingly displace Eurodollar deposits globally. What will this mean for the banking sector?
“Indeed, USD stablecoins could work alongside the existing Eurodollar system of offshore fiat dollars ($120trn by some estimates), which is already a source of US financial power. Yet from now on, the creation of USD stablecoins, unlike Eurodollars, would necessitate the matching issuance of a US T-Bill, funding the US government—while also allowing the US to retain even more de facto control over who handles them than it does today via SWIFT and sanctions.”
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