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0 sats \ 3 replies \ @CliffBadger 19 Sep \ parent \ on: The West trapped in cult of financialisation- losing its engineering advantage. econ
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Good luck with that.
Britain acquired Hong Kong via military force and there established the banks which enabled the slavery of China via the Opium Trade.
Military power and monetary hegemony have always been parallel imperatives of empire at least since Jesus recommended you pay your taxes to Rome....
Bitcoin is a nice asymmetric alternative and hedge against the decline of the US petrodollar, but is more or less obstructed as a MoE by all the legacy fiat powers.
China has won the trade war and is in the process of reverse engineering the monetary system hegemony of the west via Hong Kong.
We do not know exactly how this will play out but we can learn from history.
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Good luck with that...
Pride comes before a fall.
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