Good Morning Nostralgians. Today I'm going to answer Casey Muratori's next question, and then work on more-speech for awhile.
Meanwhile I'd like you all to consider that China emits double the CO2 of the US, is building two new coal plants every week, and just made a deal with Russia to buy Oil and NG for YUAN; and in exchange Russia will pressure their customers to also accept the Yuan.
What do you think will happen to the West if the Yuan becomes the world's reserve currency?
It would mean we are failing. #Bitcoin
We need to create something so inherently valuable and compelling that people are naturally motivated to use it. Our goal is to develop a solution that captures people's attention and inspires them to adopt it, based on its inherent qualities alone.
the less demand for USD overseas the less of a sink for exporting inflation. as inflation increases, USD will come home from foreign vaults and whipsaw us.
War
When the US$ is no longer the reserve currency, that $33T of debt becomes untenable. The rest of the world doesn't have much choice but to let US accumulate it now, but not in this case.
美元仍然是世界储备货币，预计未来很长一段时间，人民币都无法取代它。但可以预见的是，世界正在走向阵营对抗，美国和它的朋友在一个阵营，它的敌人在另一个阵营。由于种种原因，不信任在加剧，当它达到顶点的时候，或许就是战争的爆发。
The good news is the Fed Gov is most at risk, so at least we know the size of modern Rome will be much smaller
