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I think tech firms for the most part are just saying what they need to in order to not get too much scrutiny from US leadership. In their eyes, medium or even l
by ineedasername 2y ago
I think tech firms for the most part are just saying what they need to in order to not get too much scrutiny from US leadership. In their eyes, medium or even long term damage to foreign market interests is secondary to a more existential risk faced at home.
As for the US dollar, floats against the euro and yen are still roughly in historic high territory, though not at peak, and recently edge up. If the US actually tries to default maybe there’d be significant flight to other currencies. Otherwise any large institution is probably going to wait out 4 years, possibly find the next bubble to pump up during likely deregulation of markets, and probably have it pop in time for the political right to blame it on progressives if/when the public pendulum swings the other way and they hold office again. The other way the dollar fails is if there is general wide spread world chaos in & out of financial markets, but in that case I’d expect little in the way of an alternative world reserve and more in the way of regional reserves, more insular and isolated.