IMHO

The BIS is a western construct and will likely be hamstrung if not completely supplanted by the BRICS+

Nations with the “New Development Bank” which will likely end up just as corrupt… it would be a severe financial blow to the economies of the developed western nations and their large trade deficits and massive debts

Historically changes in economic dominance/world reserve currencies have ended in kinetic wars… as the dominant world power(s) is/are weakened from within by corruption and domestic polarization which reduces cohesion and national productivity as well as economic strength, the door is opened for rising powers to assume dominance.

Time will tell…but in the mean time ima short fiat currencies and paper assets (IOU’s) with hard self custodied assets🤔🤷🏽‍♂️

Full disclosure: I’m an idgit and wrong almost all the time🤷🏽‍♂️🫡

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The BIS is largely a clearing bank for assets as opposed to a fractionally reserved one. They legally "Own" the assets till they are sold or contracts settled, that includes ALL derivatives contracts.

👆💯

I agree paper assets (3rd party risk/iou’s) can and at some point prolly will be utterly rekt…and the lil guy will be the one left standing when the music stops💥