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90 sats \ 7 replies \ @halalmoney 7 Sep \ on: BRICS currency bloc: the fog is clearing econ
Prediction: If BRICS monetise/weaponise gold, America will do the same with Bitcoin.
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That was then - however since The Opium Wars China has observed and ultimately adopted a mercantile strategy responding to The Wests imperialism. . . today is there a single nation on earth that can afford not to trade with China without suffering considerable economic damage?
No.
China has won the trade war and is naturally seeking to gain monetary hegemony as history shows monetary hegemony is generally assumed by the dominant trading nation.
USD vs DCEP vs BTC
How precisely does America monetise/weaponise Bitcoin?
It can't.
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Step up Trump's strategic reserve plan from not just selling seized Bitcoin but also provide the Federal Reserve with a broadened mandate to acquire and hold Bitcoin akin to gold reserves.
Tax breaks for American data farms which meet a % threshold of power allocated for Bitcoin mining.
Tax breaks for Americans who hold Bitcoin e.g. no capital gains tax up to $100,000.
Favourable relations with other countries which remain pro-dollar and pro-Bitcoin.
Change incentives for finance institutions so buying spot bitcoin and selling on the futures market to pocket the difference becomes less attractive.