I’ll probably be doing another episode on it sometime soon, but I covered a recent piece of theirs on the show and have abridged versions of my thoughts in there commentary afterward.

I think the theory is generally sound, and definitely a move for the dollar that some are trying to exploit, but I don’t think it’s as clear cut as to what the outcome will be. I question just how good for the US debt market it will be, especially accounting for the fact that tether (our stablecoin example) has zero interest in buying any *long term* bonds, but buys the shortest time they possible can. I think that has huge implications for the market for govt debt, even with an expansion in the dollar network.

More to unpack, probably a coming Guy’s Take

Part 1: https://fountain.fm/episode/g5C0zTVvroRbCP34NaNo

Part 2: https://fountain.fm/episode/r9wR7NMqAe3eomHtaZbx