Last year, America declinists: "Look! The dollar is finished! India is buying Russian oil in rubles and has signed a currency swap agreement!"
Today, Russian capital controls: "Hold my beer!"
Discussion
Yeah it was overblown the real problem is our debt. Adding $1 trillion every 45 days
I'm just enjoying the fact that the reasons why I said these currency swap agreements with India and Brazil and others, that people, especially in the bitcoin community saw as the death-knell for the dollar, would fail, are coming true in hilarious rake-to-the-face ways.
Currency swap agreements are cool and all. But closed capital accounts kind of abrogate the possibility of deep liquidity and deep markets.
But people are who emotionally-invested in the collapse of the dollar don't want to hear this. They want to hear doom narratives that make them feel like they have an exclusive lens on the future.
first question to ask in all cases:
is there a government involved in the money?
the answer is yes, then there is a problem.
separation of money and state.
better still, separation of humans from the subhumans who hide behind the fraud called government. put them in the depths of a volcanic caldera, asap, every last one of them and all the do-nothings who work for their instituted bureaucracies that do nothing except hide the real hands behind what's going on.
Article seems to show why they'd want to further separate from US and create their own system.
This part especially:
"Most of the Russian banks have been cut off from the international payment system SWIFT. Payments for oil purchased from Russia are exempt from sanctions, but payments linked to assets, such the oil and gas projects in Russia, are not exempt, the official said. This permits Indian refiners to pay for the heavy volume of crude they purchase from Russia every month but doesnβt allow ONGC and others to repatriate their dividends."
I've never come across anyone with more hot takes that are utterly misguided, misconstrued or just plain intellectually dishonest. It's so prevalent that the majority of us just roll our eyes in silence. One can only assume it's your personal form of engagement farming. You go girl.
I read the article and it sounds like SWIFT is to blame for the issue they're having , which would go against Mike Brock's thesis, since:
"SWIFT is overseen by the Group of Ten countries' G-10 central banks. These countries are Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the United States."
Unless I'm reading it wrong.
what are your thoughts on bitcoin being an intermediary to all ? might sound ideal, maybe even several wars to get there, but possible?