4 ms·

The US uses the dollar as a weapon and it controls the world bank. So it makes sense that they won't help to de-dollarize the world.

29athrowaway 5y ago
Not so far from the truth, in the sense that global financial institutions are being used for political purposes (e.g.: implementing sanctions, freezing assets, seizing assets, controlling money supply) https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#U.S._government_involvement https://en.wikipedia.org/wiki/Society_for_Worldwide_Interban...
NegativeLatency 5y ago
https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit... Chas. T. Main's former vice president Einar Greve, who first offered Perkins a job at the firm,[1]:10 initially affirmed the overall validity of the book:[12] > Basically his story is true.… What John's book says is, there was a conspiracy to put all these countries on the hook, and that happened. Whether or not it was some sinister plot or not is up to interpretation, but many of these countries are still over the barrel and have never been able to repay the loans.
bawolff 5y ago
One random (small) country adopting bitcoin doesn't do that. Ongoing geopolitical events on the other hand (e.g. rise of china, changing energy geopolitics) probably do a lot more to reduce usa's influence
- errantmind 5y ago
  I wouldn't discount it so fast. One country attempting this doesn't mean much but one success story? If they can make it work other countries will follow. Then game theory takes over
  - bawolff 5y ago
    Yeah, but most other countries already have their own fiat currency. In the unlikely event this actually succedes,i still don't see why it would threaten US as global reserve currency or otherwise make a difference.
    - errantmind 5y ago
      It threatens the US as a global reserve currency because everyone knows the US can inflate away the value of the dollar at will. Decentralized trust is the exact reason why some digital currency, like bitcoin, may eventually replace the dollar as a reserve currency. That is the game theory aspect, in relation to the US dollar

29athrowaway 5y ago

Not so far from the truth, in the sense that global financial institutions are being used for political purposes (e.g.: implementing sanctions, freezing assets, seizing assets, controlling money supply) https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication#U.S._government_involvement https://en.wikipedia.org/wiki/Society_for_Worldwide_Interban...

NegativeLatency 5y ago

https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit_Man https://en.wikipedia.org/wiki/Confessions_of_an_Economic_Hit... Chas. T. Main's former vice president Einar Greve, who first offered Perkins a job at the firm,[1]:10 initially affirmed the overall validity of the book:[12] > Basically his story is true.… What John's book says is, there was a conspiracy to put all these countries on the hook, and that happened. Whether or not it was some sinister plot or not is up to interpretation, but many of these countries are still over the barrel and have never been able to repay the loans.

bawolff 5y ago

One random (small) country adopting bitcoin doesn't do that. Ongoing geopolitical events on the other hand (e.g. rise of china, changing energy geopolitics) probably do a lot more to reduce usa's influence

errantmind 5y ago
I wouldn't discount it so fast. One country attempting this doesn't mean much but one success story? If they can make it work other countries will follow. Then game theory takes over
- bawolff 5y ago
  Yeah, but most other countries already have their own fiat currency. In the unlikely event this actually succedes,i still don't see why it would threaten US as global reserve currency or otherwise make a difference.
  - errantmind 5y ago
    It threatens the US as a global reserve currency because everyone knows the US can inflate away the value of the dollar at will. Decentralized trust is the exact reason why some digital currency, like bitcoin, may eventually replace the dollar as a reserve currency. That is the game theory aspect, in relation to the US dollar