Gold and Bitcoin surge. Bonds detonate. Multi-polar world order begins in earnest.
Discussion
I mean, I agree. But who would be the stakeholders at a hypothetical BW2.0? What would they agree to?
The main stakeholders are the US/NATO and BRICS. Could imagine them agreeing to mutually cut tariffs, use each other’s national fiat currencies as a medium of exchange in trade with one another, but use neutral stores of value that are not subject to the whims of adversaries, namely gold and Bitcoin.
That’s interesting. I wonder if an official deal can be brokered in this environment. It wouldn’t surprise me if instead we got a bunch of unilateral/bilateral decisions to just quietly use their own mutually agreeable monetary media for settlement.
This failed horribly for Sadam when he tried to trade oil for euros, but I think the geopolitical landscape is significantly more multipolar now.
Agree. BW2 may very well arise naturally as a result of market forces, rather than via top-down, explicit agreements between nations.