pull down to refresh
14 sats \ 6 replies \ @denlillaapan 10 Apr \ on: The WSJ (kinda) covers the Mar-a-Lago Accords plus Miran's Incredible Speech econ
this I think about a lot. Like ... duh. Quite obviously the fix for this
Well I mean if countries using the Dollar and Treasuries is such a burden for the United States... then they could just use something else problem solved
reply
Trump has already explicitly threatened BRICS nations with 100% tariffs if they use anything else!
'Trump threatens 100% tariff on BRICS countries if they pursue creating new currency
President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump posted on Truth Social on Saturday afternoon. '
reply
i saw that, which is what makes mr trump even more incoherent.
if he wanted to expand the use of the dollar, it would be olive branches everywhere and diplomacy... but nope lol
reply
Trumps threat to BRICS is not incoherent or inconsistent with the reality that China now dominates global trade in manufactured goods and commodities and that China can sustain not just N.Korea, but Iran and more recently Russia with bilateral trade and trade settlement outside of USD/SWIFT but is building the protocol/s and alliances to greatly expand that tribute state empire much more broadly.
Those protocols are nearing fruition.
This makes it logical for Trump to makes seemingly incoherent threats and do whatever he can to protect and preserve the global monetary hegemony which US still nominally holds because to not do so would allow an existential threat to US empire viability.
The US without the seigniorage and rent on money that USD reserve currency status delivers, would be insolvent...very swiftly.
There are now enough nations who have switched to China's side or imminent to, that the situation is as urgent as Trumps desperate threats and blustering measures admit.
He is using bluff and bluster while he can.
Has it ended the war in Ukraine? No.
Has Putin bowed to Trumps threat of further sanctions. No.
Has China bowed to the tariff threats and impositions? No.
This is a standoff at or near the end of empire, about who controls global trade, trade payments, resources and territory.
reply
Because while Bitcoin is fantastic from the perspective of the sovereign individual it is not so helpful let alone desirable to the nation state and its power projection.
It might be useful as a neutral refuge and safe haven SoV and MoE in an increasingly fractured and multi-polar world, but for China at least Bitcoin is the complete anti-thesis of the CCPs dreams for the future of empire.
The EU is not keen either, nor really is Trump beyond gaining a vote bloc and crypto sponsorship opportunity and the potential for capital discretion.
Stand up the brave nations who might allow Bitcoin domestically for citizens and for trade payments - the IMF and/or CCP will come after you!
reply
On April 2, the Trump administration announced tariffs of up to 104% on Chinese imports. In response, China imposed retaliatory tariffs of up to 84% on U.S. goods, starting on April 10. The trade war has triggered instability in traditional markets, pushing investors to consider alternatives like Bitcoin and gold. Analysts say Bitcoin is attractive in this climate because it’s not tied to any government and can’t be manipulated like national currencies.
Bitwise CEO Hunter Horsley explained that in times of uncertainty, investors want to avoid both U.S. and other nations’ assets due to fears of currency devaluation. He said Bitcoin offers a unique solution—it can’t be debased and is easy to access and control. VanEck’s Matthew Sigel added that Bitcoin is becoming more than just a speculative asset, with real-world use cases like international trade settlements starting to emerge.
necessity is the mother of invention... and people will use bitcoin, in my opinion, when they need to at the right time. yes even the eu weasels
also for a government (china) that doesnt like bitcoin... they sure make a lot of it
reply