I’m not saying the SBR does get up, I’m exploring what happens if it does and that specifically from a non-yank lens.
Discussion
Yeah, I mean, they will want some fiat backed version of bitcoin, like a stable coin. But I can't imagine in any constellation how that would work. Why would you have money backed money? LOL
Whitney does skizopost about Bitcoin because she doesn’t understand it, her writing partner Mark Goodwin does understand it though - read him.
It’s not about a fiat-backed Bitcoin. It’s about a release valve for US Treasuries to cover the US debt.
Stablecoins can be that debt absorber. The US won’t go CBDC which was the path Pocahontas was trying to take them down; it will go stablecoins.
Print debt and have Tether and Circle absorb it, don’t be surprised if Trump creates his own USD stablecoin. Inflate Bitcoin and hold it on the US balance sheet to counter the debt burden and dollarise the world through stablecoins taking the debt on to their books.
Makes sense I guess if people like Rug Pal want to hold stable coins. I certainly have never found a usecase for them.
Rug Pull remains an idiot.
But there’s 8 Billion+ people on this planet. They all want the best money. They don’t understand what that means across all dimensions but they understand the USD is most widely accepted so in their simplified version it suffice.
They’ll take the digital equivalent if it beats their local fiat which is inevitable given where all fiats are headed.