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They will not pivot. They will pause. Otherwise US treasuries will collapse. Dollars leaking out of US treasuries is already too inflationary to maintain. So they might hike a bit, but a long pause is very probable.

I think the goal is to bankrupt commercial banks. The commercial banks are a threat to a smooth introduction of a CBDC.

T 2y ago

They won’t succeed in implementing a CBDC, and are naive to think they will.

Actually quite like bitcoin, the true power of the US government is rooted in the decentralization and inefficiency (Bitcoin is obviously much more efficient now than it was a few years ago)

People complain that the US government sucks - a feature, not a bug.

Ideas are fought in 50 theaters, all with unique laws, demographics, and values

If we see even 3 or 5 states, especially larger economies like Florida/Ohio/Texas, outlaw CBDC’s - the whole scam falls apart. It will get wrapped up in 50 lawsuits and get snuffed out.

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Discussion

Lau 2y ago

I agree, but they will try. And how and why they will try is interesting.

T 2y ago

Corruption and the power hungry authoritarians exists everywhere

They struggle to succeed in the US because there’s no true way to take total power over the country.

China tortured their citizens for 3 years with Covid tyranny.

California and New York were terrible too

Wisconsin supreme court declared covid restrictions unconstitutional within a month.

The US endures because it’s fundamentally resistant to top down rule