pull down to refresh

15 sats \ 4 replies \ @OgFOMK 1 Dec \ on: Bloomberg: Trump Demands ‘Commitment’ From BRICS Nations on Using Dollar bitcoin
When the US cut Russia off from SWIFT and confiscated their USD they screwed up. Why would any country want to participate in a system that they can have they wealth confiscated?
write
preview
10 sats \ 0 replies \ @028559d218 OP 1 Dec
I know, it's outrageous
reply
0 sats \ 2 replies \ @Solomonsatoshi 1 Dec
It is one of the USAs last significant strategic advantages over China. And China is openly breaching US sanctions in its ongoing and growing trade with Iran and Russia...enabling serious ongoing and expensive proxy warfare attacks on US allies...in Ukraine and the Middle East. This is WW3 and China is not likely to back down. Trumps threats are aimed at preventing further erosion of the USD hegemony but its already too late. All nations need to trade with China or suffer economic loss- the same is no longer true of the USA.
reply
0 sats \ 1 reply \ @OgFOMK 1 Dec
Think about this, if you make a product that is a financial tool and you can easily rug pull users is it a good financial tool? No, it is not and thus it is a tool only for ignorant users.
reply
0 sats \ 0 replies \ @Solomonsatoshi 1 Dec
Monetary hegemony has always derived from trade dominance. The British Empire once enjoyed global trade dominance. In turn USA had such dominance after WW2. Today China has it. Other countries need to trade with the dominant trading nation. Like trade, it comes down to mutual self interest and the imperatives of empire.
reply