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>Chinese proxies

JumpCrisscross 4y ago
How does one separate attacks on dollar hegemony from broad American interests? I'm struggling to think of what any country would do that couldn't be characterized as defending its currency.
- ragnot 4y ago
  TikTok is a more conventional ban on a foreign security apparatus, it really has nothing to do with dollar hegemony. Attacks on crypto institutions is the US Govt defending dollar hegemony. I have no proof (obviously), but if you just look at the pieces together it's hard not to justify that this is a trend.
  - JumpCrisscross 4y ago
    > if you just look at the pieces together it's hard not to justify that this is a trend You don't see anything else in the last 6 months that could have turned crypto into an enforcement priority?
    - ragnot 4y ago
      I want to say 1) I (admittedly) look at the world through a paranoid lens, 2) could be completely wrong. This is just my opinion. That being said, I think you are referring to FTX right? It is the natural way to look at it. You see FTX and a reasonable person could conclude that this is simply the US Govt making sure that it doesn't happen again. In fact, it could be the only reason. But when I see things like the TikTok CEO being dragged in front of Congress and multiple crypto exchanges (which allow for a potential way to side-step dollar hegemony) being attacked (legally) I like to stop and think about if this is the US Govt retaliating. Maybe the USG wants to shore up support after rising interest rates highlighted that many banks are not as strong as many thought (due to HTM treasury accounting tricks). Maybe the visits of Putin and Xi to each other countries is signaling an increasingly unified "new eastern blok" which is something that the US wants to weaken. I don't have the answers again. I'm just thinking. If you are wondering what it means for me personally, I am going to get out of crypto holdings entirely. I see this as a shift that the USG views crypto as a threat that can be exploited by enemies. Perhaps Bitcoin is safe, but that would be the only one.
  - deleted 4y ago
    [deleted]

>Chinese proxies

How does one separate attacks on dollar hegemony from broad American interests? I'm struggling to think of what any country would do that couldn't be characterized as defending its currency.

ragnot 4y ago
TikTok is a more conventional ban on a foreign security apparatus, it really has nothing to do with dollar hegemony. Attacks on crypto institutions is the US Govt defending dollar hegemony. I have no proof (obviously), but if you just look at the pieces together it's hard not to justify that this is a trend.
- JumpCrisscross 4y ago
  > if you just look at the pieces together it's hard not to justify that this is a trend You don't see anything else in the last 6 months that could have turned crypto into an enforcement priority?
  - ragnot 4y ago
    I want to say 1) I (admittedly) look at the world through a paranoid lens, 2) could be completely wrong. This is just my opinion. That being said, I think you are referring to FTX right? It is the natural way to look at it. You see FTX and a reasonable person could conclude that this is simply the US Govt making sure that it doesn't happen again. In fact, it could be the only reason. But when I see things like the TikTok CEO being dragged in front of Congress and multiple crypto exchanges (which allow for a potential way to side-step dollar hegemony) being attacked (legally) I like to stop and think about if this is the US Govt retaliating. Maybe the USG wants to shore up support after rising interest rates highlighted that many banks are not as strong as many thought (due to HTM treasury accounting tricks). Maybe the visits of Putin and Xi to each other countries is signaling an increasingly unified "new eastern blok" which is something that the US wants to weaken. I don't have the answers again. I'm just thinking. If you are wondering what it means for me personally, I am going to get out of crypto holdings entirely. I see this as a shift that the USG views crypto as a threat that can be exploited by enemies. Perhaps Bitcoin is safe, but that would be the only one.
- deleted 4y ago
  [deleted]