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21 sats \ 0 replies \ @Solomonsatoshi OP 17 Oct \ parent \ on: If China/BRICS Win the Trade War - Gold price would Skyrocket - BTC not so much? bitcoin
You are right about China and its tragic silver episode.
But I would argue China has learned a bit since the Opium Wars forced it to recognise the strength, power and force of the European/Western imperialists.
In fact today China with its politburo composed mostly of trained engineers has harnessed the power of fiat far more correctly and astutely than the decadent west.
In China they use most fiat debt issuance to invest in infrastructure and productive assets- can you say the same for the west? Sadly, NO! The west today is a joke- its governments mostly owned by bankers/capital and most fiat debt capital issuance in the west today is directed into non productive asset price spruiking- particularly real estate but also stock and other speculative assets like, dare I say it, Bitcoin!
China is producing the goods the world wants at the best price- and China buys the worlds commodities at the best price. China is the market maker and it is logical and reasonable for China to increasingly have influence upon financial markets and global trade settlement protocols.
The USA is dependent upon its legacy hegemony over international institutions and protocols- like the World Bank, IMF, BIS and SWIFT.
But it is China that dominates supply chains and global trade in goods and commodities.
I absolutely see a definite future for Bitcoin as many nations and people will be reluctant to embrace a Chinese dominated global trade payments protocol/network but looking at the current trends it seems likely China will dominate payments just as it already dominates trade and productivity- because this is the long and consistent trend shown throughout history- the dominant trading nation sets the trade payments protocol/s.
Bitcoin is certainly not going to die, but Gold may still have a major role as it would appear to fit the mindset of the CCP better than Bitcoin as a foundation for their soon to be dominant global monetary hegemony.
All I am suggesting really is that a lot of US Exceptionalist Bitcoiners may be blind to some of the potential outcomes to this current stuggle between the US and China- it is certainly something that is as yet impossible to be sure of the outcome except to say that there is a lot riding on it and that Bitcoin could be substantially part of the process and also influenced by the result.