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0 sats \ 2 replies \ @Solomonsatoshi 22 Oct \ parent \ on: What Will the Next Gold Bust Look Like? econ
Bitcoin/lightning is the only remotely viable alternate payment rail.

Really?

Not stable coins?

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0 sats \ 1 reply \ @SimpleStacker 22 Oct

Stable coins are supposedly backed by fiat so I don't think it would help in a situation where trust in fiat erodes

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0 sats \ 0 replies \ @Solomonsatoshi 22 Oct

For trade payments SoV is not so important as acceptance. SWIFT is the vehicle of USD/petrodollar hegemony and it is via trade payments that USD/SWIFT dominates.

If you want to make trade payments currently you must hold USD or be excluded from the overwhelmingly dominant global trade payments protocol- SWIFT. This is why central banks globally must hold USD- or be excluded from the dominant trade payments protocol.

Stablecoins do provide an alternative. Nowhere are Bitcoin trade payments taken seriously. MoE is the basis of monetary power.

SILENCE.

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