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0 sats \ 0 replies \ @faithandcredit 6 Oct 2022
Now they are months from disaster instead
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0 sats \ 5 replies \ @siggy47 6 Oct 2022
Truss is being blamed, but the real issue is how the US Federal Reserve action is destroying all other fiat currencies. If Powell doesn't pivot soon, the world will start blaming the US for the pending worldwide depression.
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5 sats \ 2 replies \ @nerd2ninja 6 Oct 2022
This is such a weird take. Sure, when all currencies go down together, the central banks get to pretend to us that their value has not changed, but the US is trying to stop the bleeding on the inflation in our country and that leaves the other currencies falling at the rate they normally would, though they may be trying to slow down, and those poor central banks can't pretend that the value of their currencies aren't going to trash (though this still gives the strange perception that the USD isn't trash, but the best shiniest trash ends up being sought after in this world of garbage)
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30 sats \ 1 reply \ @siggy47 6 Oct 2022
The situation is complicated by the fact that most inter country transactions (petro dollars) and debt are based in U.S. dollars, so dollar denominated debt explodes in local currencies.
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0 sats \ 0 replies \ @nerd2ninja 6 Oct 2022
I see
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0 sats \ 0 replies \ @8 OP 6 Oct 2022
The BoE pivot is the one the market was waiting for, thats why the bitcoin market shifted into bull market gear on that day. The US Fed's hands are tied if there is obvious contagion risk.
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0 sats \ 0 replies \ @lv99_slacker 6 Oct 2022
The panaroma and the war, especially, seem to have jumpstarted de-globilization and de-dollarization.
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