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USD comeback or just a flash in the pan?
872 sats \ 10 comments \ @TomK 28 Aug news
Dollar-denominated stable coins, led by battleship tether with a volume of 118 billion dollars, are penetrating the digital economy and overshadowing other currencies. Stable euros or other currencies play no role at all here. Countries such as Argentina are dollarizing, African states are issuing dollar-denominated government bonds.
Today Bulgaria announced its intention to issue a USD denominated government bond in order to finance its deficit - and this in the inheritance court of the eurozone Europeans. Anyone who is longing for the death of the dollar or has predicted it in the near future has been proven wrong. King dollar is having a strong few days!
https://www.bloomberg.com/news/articles/2024-08-28/bulgaria-selling-first-dollar-bonds-in-two-decades-amid-upheaval
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105 sats \ 3 replies \ @Enemy_of_the_state 28 Aug
Every Fiat dies, then the dollar. JPY, GBP, EUR...we have a ways to go, but the dollar won't hyperinflate untill all those others are collapsed into the dollar
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147 sats \ 2 replies \ @Undisciplined 28 Aug
I'm surprised how many of us have a similar view on this. I don't feel like this is a perspective you hear very often.
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21 sats \ 1 reply \ @TomK OP 28 Aug
Maybe we are a hord of economistas??
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47 sats \ 0 replies \ @Undisciplined 28 Aug
I certainly hope so!
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79 sats \ 1 reply \ @TheMorningStar 29 Aug
Countries such as Argentina are dollarizing,
It's true. Also people exaggerate about Bitcoin adoption in El Salvador. But, people generally aren't willing to accept Bitcoin as a superior method of transaction over Bitcoin. El Salvador is more dollarized than Bitcoinised.
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0 sats \ 0 replies \ @TomK OP 29 Aug
i think that in the euphoria of 2020 2021, many of us have slightly overstated the rate of adaptation. more realistically, it is a generational project
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68 sats \ 0 replies \ @riberet19 28 Aug
Interesting, the dollar may still have a lot to fight for, I don't think its death is really close, but I don't think it has more than 100 years left either, but anything can happen, Argentina has taken the step of becoming dollarized and it seems that it It is going well, who knows if other nations will follow its example and make the dollar stronger.
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47 sats \ 1 reply \ @Undisciplined 28 Aug
I'm expecting another wave of dollarization, before the dollar crashes. Argentina is showing how to escape run away inflation by dollarizing their economy and others will likely follow.
America will continue exporting inflation for at least another decade, probably another generation.
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39 sats \ 0 replies \ @TomK OP 28 Aug
That's my time frame, too. We'll see a dramatic euro crisis before
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0 sats \ 0 replies \ @Satoshi__Nakamoto 28 Aug
Yeah it will soon
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