garyj on Nostr: Trump talking about a bitcoin reserve, Putin mentioning the virtues of bitcoin. There ...

Trump talking about a bitcoin reserve, Putin mentioning the virtues of bitcoin. There is a drought of investment grade assets. Even treasuries are no good anymore. The powers that be in govt and corporate may hate the concept of bitcoin, but they like money and their balance sheets are collapsing and so they have no choice.. This will turn into a race to get bitcoin. Even the central banks will move to bitcoins using their collapsing fiat to cash out to bitcoins. The problem with (un)stablecoins is that they are a peg to the fiat world. Tether is tethered to the dollar. The fiat world is collapsing so what is the use of such stablecoins? They're going to zero. CBDCs will also go to zero, they're just trackable fiat.

The debt in a pure fiat world is irredeemable. There is no way to clear it, you cannot pay it down. You just swap one duration of debt for another duration. Even cash is debt, it was created as a loan. Gold traditionally served as the ultimate way to pay down and extinguish debt, but in an electronic interconnected world that now has bitcoin , gold will be displaced by bitcoin. The new goldrush has begun.