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(>0_0)> 2y ago

I have a feeling things are about to get really ugly and the only thing that can save us is #Bitcoin

The banking system is on the verge of a full contagion level collapse. The Fed has the money printers in overtime trying to keep things afloat. Inflation is at all time highs.

When the USD was decoupled from gold it was tied to the sale of petroleum. Thus creating the #petrodollar and ensuring the USD as the world reserve currency.

When the Ukraine war started, the US used it’s power as the owner of the world reserve currency against Russia. Putin has now escalated the economic war with the West by firing the first shots to take down the petrodollar. Saddam Hussein and Muammar Gaddafi both made similar moves to be free of the petrodollar.

In 2000 Saddam Hussein announced his intention to take oil payments in Euros. Then the Iraq war happened in 2003.

In the mid 2000’s Muammar Gaddafi announced plans for a gold backed currency for Africa. Then in 2011 he was killed in a NATO air strike.

I think we’re looking at a real possibility of WWIII being started over which #CBDC will be the world reserve currency - the digital dollar or the digital yuan. Only Bitcoin should fill this role.

https://twitter.com/azgeopolitics/status/1638195164052168705

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Samurai 2y ago

The #petrodollar system feels like it’s one of the last pillars that will be taken out as #debasement continues. The real crime here is that a country can essentially print oil whilst doing no work. Imo the oil producing nations needs to realize that a scarce commodity should be traded for another scarce commodity. A #petrobitcoin system would potentially stabilize #volitility as well.

The failure of the petrodollar system will bring about competitors such as a PetroYuan, petroRuble, or peteoRiyal. I don’t see any way that the US will accept any of these alternatives. In which case, #barter would be another option but with barter being a pain to deal with the answer seems to be a secure, decentralized, non-debaseable, global, instantaneous money. #changemymind

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Stacking Functions 2y ago

On a local level barter still works, but Bitcoin is great if the 2 parties can’t agree on a service/commodity that they want to exchange.

For global settlements Bitcoin definitely makes the most sense