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142 sats \ 5 replies \ @freetx 15h \ on: How to Stop the BRICS Nations from Abandoning the Dollar Politics_And_Law
Honestly, a much better way to combat BRICS is for the US to encourage Tether and other stablecoins issuers. They should remove all laws preventing this, and encourage them to repatriate to US soil.
If they entire world can get USD on their phone, it would kill BRICS fairly quickly.
The problem there is that the Tether coins vary in value with he depreciating dollar. Everyone is looking for something that is either gaining value or, at least, holding purchasing power. Tethered to the dollar may not be the proper choice. Going with BTC may be the right thing to do. It has all the properties of Tether but not linked directly to the dollar. But, then again, that would be getting off the dollar standard, too, wouldn’t it?
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Yes, but it is not dollars, therefore not holding up the dollar reserve system. I think the best way might just to be giving up on trying to control everyone else through sanctions in the marketplace. But politicians are not economists and do not understand their actions because they can see no further out then the next election and do not have any accountability. Just think how many industries they have f’d up because of state interference: tobacco, cotton and soybeans for agricultural items I can remember off-hand. There is a plethora of others in other industries they managed to f*ck up, too.
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bitcoin is too volatile for ppl in developing countries. they don't understand it, the educational resources aren't there, and in any case they just want a short-medium term store of value to use day to day. the $$$ way better for them then their current currency... which is all they want
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If BTC is too much for them to use due to education and volatility they should stick to cash. If they don't stick to cash, they will go India's way: CBDC, and become total slaves.
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