pull down to refresh

0 sats \ 1 reply \ @SimpleStacker 22 Oct \ parent \ on: What Will the Next Gold Bust Look Like? econ

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

write
preview
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.

reply