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BigFish
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Economics & Risk Mgmt background. In it for the future I want to live in. --> Relay: https://nostr.hifish.org

Interesting. The US has to provide USD and even more importantly UST to the world as the global reserve issuer (due to/since the establishment of petro-dollar system). This means it has to run deficits (= UST issuance), which can than be monetized by Fed and Banks (create USD liquidity). Hence, constant deficits are a feature not a bug.

Replying to Avatar Cyph3rp9nk

They all have perverted incentives that are anti-freedom and hence anti-human.

#Bitcoin fixes this...

#plebchain

#coffeechain

Bitcoin, the ultimate computer.

And counterweight to AI.

Great video with Andreas Antonopouls about the Ledger issue. Worth watching.

Tldr: Don't rush to switch hardware wallets. It's not an immediate issue, especially for Nano S users.

#plebchain #coffeechain

https://www.youtube.com/watch?v=9scIevuymZM&t=2174

Me too. Ans since proton has apps for phones it's not only more secure & private but also easy and convenient 😊.

I'm rather worried about Google, Apple, Microsoft amd others that either own software and hardware or are deeply integrated into third party hardware.

Their encryption may prevent third parties and governments from accessing your data but they always could access data before it's encrypted. Google, Apple, MS are US companies, so the US has acess to all data too.

Key technologies are concentrated in a few companies with ties to the largest intellegence and military appartus.

Imo we need more diversification based on open source software.

I think so. Unless you use tor.

Not sure that helps. The issue is that their software can't be audited. If it was at least open source you would see any potential backdoor.

Their recent announcement of the recovery service, think what you want, does not change that issue but has only brought attention to it.

Wow.. Looks delicious. πŸ˜‹πŸ˜‹

Enjoy your meal and a good start into the day.

Yes, I think so.

USD and UST are the reserve currency and asset and prime collateral of the global fin system. The Eurodollar system (USD outside the US mainland) is particularly dependent on USD/UST to provide credit. If the USD rises it will curtail also credit/collateral in the Eurodollar system hence affecting economic activity/growth.

In essence, in global trade companies have to show up with USD to get stuff. Even if the business is running profitably the fact that it needs "exogenious" USD can mean liquidity issues if it can't USD.

Imo credit aka money printing does not equal growth. Growth is the result of innovation and efficiency gains (basend on ideas, technologies and socioecomic circumstances) in the economy. Money can not drive that; it just measures economic activity in a common standard (demoniation).

Welcome to nostr πŸ‘

Gooood morning 😊. Have a great 🌞 day and enjoy your β˜•

#plebchain

#coffeechain

Great. πŸ‘πŸ‘ Another node making the network even more secure.

Hope it has completed by now.