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68 sats \ 9 replies \ @galt 3 Sep \ on: Inflation: are we following the path of the 70s? econ
To get this huge red pop it is not a question of monetary supply anymore, it is a loss of confidence in the currency. Huge interest rate saved the USD in the 1980s, not sure what can save it now with such a high level a debt. Still probably better than all other paper money but it will keep devaluing against real stuff
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47 sats \ 0 replies \ @Solomonsatoshi 3 Sep
USD is highly dependent upon the imposed need for all central banks to hold USD in order to participate in the SWIFT payments network. With China now increasingly provisioning trade payments independent of SWIFT and USD there is a real possibility that the USD collapses and the Chinese CBDC Yuan becomes the dominant fiat currency. After all how many nations can afford not to trade with China?
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0 sats \ 7 replies \ @TomK OP 3 Sep
correct. but from my life experience, for example, I can tell you that I have never heard anyone here in Europe doubt the stability of the euro, a currency that is not clearly going down the drain. here, for example, there is no significant Bitcoin adaptation at all
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47 sats \ 6 replies \ @Solomonsatoshi 3 Sep
Europeans can kid themselves about their Euro but in reality is Europe not both monetarily and militarily a subservient tribute state to the US?
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46 sats \ 5 replies \ @TomK OP 3 Sep
To UK/US
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47 sats \ 4 replies \ @Solomonsatoshi 3 Sep
Yes. But now the mercantile power that Britain and US once held is held by China and its modern day silk road, Belt and Road is the new trade infrastructure empire Europe may end up reliant upon. The US/UK still control the legacy fiat banking institutional hegemony, but without trade dominance that is increasingly fragile. As for the US/UKs legacy military dominance - that is increasingly frayed as Chinas proxies Iran and Russia attack Ukraine and Israel.
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46 sats \ 3 replies \ @TomK OP 3 Sep
We need a territory on 'geopolitics' here on SN
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47 sats \ 2 replies \ @Solomonsatoshi 3 Sep
The alignment of monetary and military power structures is significant.
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21 sats \ 1 reply \ @TomK OP 3 Sep
You're right. It's the center part to understand what's going on, even btc.
And imagine the fights we would have here
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0 sats \ 0 replies \ @Solomonsatoshi 3 Sep
Robust contest of ideas is nothing to be afraid of but rather something we can still celebrate! The potential for Bitcoin to enable less war and more prosperity is worthy of consideration even if it may seem a long shot. There is need for some radical innovation to bridge the tensions now building globally.
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