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
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
Simple, eloquent, and the bit about extensive study of history hits hardest.
Many have a hard time wanting to do the work, I’ve recommended podcasts, interviews, your book, YouTube videos, but have only successfully gotten a few people, most just think I’ve lost it. Yet those same people will complain about their rent being too high, or COL is increasing too fast. Like I’m showing you where the door is, just open it!
My god the amount of times I’ve been told this in the middle of conversation. “Inflation is good, 2% is necessary”. Yeah? Good for who?