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> Heh. The above assumes that world governments will not collude to inflate their currency. ... or default. It will be interesting after the midterms next yea
by alfiedotwtf 5y ago
> Heh. The above assumes that world governments will not collude to inflate their currency.
... or default.
It will be interesting after the midterms next year if Biden ends up a lame duck President, and Mitch manages to block any further raising of the US debt ceiling. Everyone says it's practically impossible for America to default given its debt denominated in U.S. dollars, but blocking its ability to borrow more so it's unable to pay bond coupons will trigger a default.
I wouldn't discount cryptocurrencies as a store of value just yet.
- hypertele-Xii 5y agoCryptocurrencies can default as well, when a glaring vulnerability is discovered and the blockchain forked. It's happened before and it'll happen again.
- tata71 5y agoFork of which chain?
- hypertele-Xii 5y agoEthereum, at least?
- landemva 5y agoMitch is part of the club. He may grandstand and then he will ease the spending through.