Putting it on the list. Thanks. In nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z ‘s recent pod, Paolo says Tether only buys short term treasuries (3 months) due to duration risk and needing to liquidate Tether quickly. Wouldn’t the US need a buyer of longer term bonds to replace China and Japan?
I would strongly recommend this book
It hasn't gotten a lot of attention but is definitely worth it
The thesis is simple
Just as the dollar moved from being based on gold to being based on oil (the petrodollar), it is today in the process of moving to a new base of Bitcoin, with the help of stablecoins
But thankfully the book doesn't end there with that dark outcome
It heavily implies that through proper engineering and layering and technologies like ecash, we can defeat the fiat system
https://store.bitcoinmagazine.com/products/the-bitcoin-dollar-book
Discussion
Yes - who’s gonna buy long dated debt?
Exactly, this is my question with the bitcoin-dollar thesis. The petro-dollar created real demand for long dated debt. But how do the stablecoins provide any meaningful demand for US debt if all they do is roll profits from 3 month bond yields into bitcoin?
I mean. If anything I think the bitcoin dollar is temporary