digitalrebel on Nostr: #Bitcoin #Biden #Ukraine The world needs an APOLITICAL reserve currency. Preferably ...
#Bitcoin #Biden #Ukraine
The world needs an APOLITICAL reserve currency. Preferably one without counter party risk. I doubt it will ever be gold again. We live in a digital age and gold is to expensive to store and transport.
From EJ ANTONI AND PETER ST ONGE:
"A critical feature of a reserve currency is its apolitical nature. Which Biden is now gutting. After both parties in Washington destroyed the dollar's stability with inflation, now the Biden administration has chosen to wield the dollar as a weapon.
Together, the message to foreigners is they should get out while they still can. In response to Russia's war with Ukraine, the US froze the dollar reserves of Russia's central bank.
To be clear, these were not American assets, but were dollars owned by the Russian central bank and the Russian people.
The seizure was intended to cause bank runs and collapse. It didn't work. Instead, it exposed the Biden administration's willingness to violate the trillions of dollars foreigners rightfully own. The danger of this precedent is difficult to overstate."
The world needs an APOLITICAL reserve currency. Preferably one without counter party risk. I doubt it will ever be gold again. We live in a digital age and gold is to expensive to store and transport.
From EJ ANTONI AND PETER ST ONGE:
"A critical feature of a reserve currency is its apolitical nature. Which Biden is now gutting. After both parties in Washington destroyed the dollar's stability with inflation, now the Biden administration has chosen to wield the dollar as a weapon.
Together, the message to foreigners is they should get out while they still can. In response to Russia's war with Ukraine, the US froze the dollar reserves of Russia's central bank.
To be clear, these were not American assets, but were dollars owned by the Russian central bank and the Russian people.
The seizure was intended to cause bank runs and collapse. It didn't work. Instead, it exposed the Biden administration's willingness to violate the trillions of dollars foreigners rightfully own. The danger of this precedent is difficult to overstate."