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5 sats \ 1 reply \ @SimpleStacker 3 May \ on: Don’t Count the Dollar Out Just Yet econ
No paywall: https://archive.ph/Uf8p5
More fundamentally, where are global investors to go? The euro isn’t widely enough used and the European bond market isn’t deep enough to replace Treasuries or the dollar, at least not yet. That’s also true for the Japanese yen. Chinese markets aren’t open enough to make the renminbi a true global currency, either.
Hmm, yes, wherever can global investors go...
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0 sats \ 0 replies \ @Solomonsatoshi 3 May
Yuan does not need to be a capital storage vessel. Yuan is needed to trade with China and every nation on earth must trade with China or suffer considerable loss of economic advantage. mBridge enables trade payments in the currency of choice between respondents and it is a Chinese protocol and will potentially be the basis of trade payments in the near future.
That is after all precisely what it has been designed for.
It is vastly faster and cheaper than the antiquated USD/SWIFT protocol upon which petrodollar hegemony is based. The Jewish bankers who have lurked in the shadows behind every western empire for centuries will not be in control of mBridge...nor will the USA. China is building the tertiary layers of the Belt and Road model of empire. USA is declining into insolvency and crony capitalist decadence.
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