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0 sats \ 3 replies \ @028559d218 OP 8h \ parent \ on: Bitcoiners have Somehow, Unfortunately, Lost the Plot bitcoin
The US cannot just 'print up dollars' without some revenue source. Income taxes are a huge % of federal revenues and if you abolish them... Well OK. But either government has to shrink massively (which includes the DoD, Medicare and Social Security which people don't want) OR the deficit has to increase massively ballooning interest rates probably sending the economy into recession. Just 'print the dollars up' and the US turns into Argentina
Just 'print the dollars up' and the US turns into Argentina
Again, we have already been doing this for 60+ years. All exponential curves eventually steer towards infinite increases....and this is just where we currently are in that curve.
I'm suggesting a continuation of the same just at a slightly enhanced rate. In fact, this is the "mainstream solution".
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China is already conducting a growing proportion of its international trade via channels outside of the USD and US institutional oversight.
These transactions are not recorded in the data the IMF and SWIFT report because they are not being transacted upon the IMF/SWIFT/World Bank channels.
China is building its new tertiary economic protocols and infrastructure independent of US hegemony while the US is distracted and divided within and blind to what China is building.
China is reverse engineering the global trade payments banking network via Hong Kong.
China has won the trade war and is now gradually introducing monetary hegemony over international trade that logically follows global trade domination.
Without the liquidity, interest payments and seigniorage the US derives from USD hegemony the US government is very swiftly insolvent.
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I agree completely. While the US argues over 'abortion' and 'bathrooms' and 'the culture wars'....
China's rapidly catching up, both technologically and in terms of innovation.
DeepSeek is an incredible example of this.
But they are also producing their own phones, chips, electronics, EVs, and also solar panels that are almost as good as those in the US for way, way less cost.
And you know who doesn't even know about it? Americans. Their news sources never even report it. It's all "the culture wars" or "the border" or "movies TV and entertainment..."
The BRICS? Vast majority of Americans never heard of it. And their politicians? Never mention it. Despite how much it's growing and catching up to the G7.
I still believe that, eventually, Bitcoin will be a major tradable global asset that nations use for trade or collateral... despite whatever (or in addition to) whatever the Chinese are cooking up.
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