Hugh Naylor
@hughnaylor
Word dump on Bitcoin & empire: 1/4 Seems we are at an unusual confluence of events in world history in which the empire doesn’t oppose (and in fact encourages) challengers to its globally dominant financial assets — namely, gold and Bitcoin. At any other time in the empire’s history, such challengers would have been opposed/suppressed. In fact, for decades America outright suppressed gold. And if Bitcoin had been created earlier in the empire’s lifecycle, the goverment likely would have tried much harder to quash it. But Trump and team (notably Bessent) have outright encouraged both gold and Bitcoin. Neither asset, for example, was subject to tariffs (and they certainly could have been). But with the empire exhausted, the emphasis now is to weaken the dollar (that is, make it one of a number of reserve currencies, but no longer the reserve currency) and outright deprioritize US debt/treasuries as a global-reserve asset — all to bring the trade deficit down and somehow stimulate domestic industry.
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highplains.base.eth 🎩✨🔴
@highplains66
We are definitely living in interesting times. Also, politically, the actions of the USA are probably pushing BRIC nations closer together, faster. 55 $degen
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Hugh Naylor
@hughnaylor
Oh for sure. A multi-currency world is fast upon us, imo, and yeah it’s wild (but maybe logical) that it’s being greenlit by the powers in Washington. Which makes it all the more intriguing .
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