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The entire financial services industry. Even including some of the cryptocurrency parts: USDC is backed by a Blackrock account holding Treasury bills. (a defau
by pjc50 1y ago
The entire financial services industry. Even including some of the cryptocurrency parts: USDC is backed by a Blackrock account holding Treasury bills.
(a default on the debt, any of it, would be an extinction level event for the global financial services industry and then most real US industries in the following weeks)
- noman-land 1y agoWhen all the dust settles, what has actually changed?
- pjc50 1y agoWho knows? The possible outcomes range from Argentina to Zimbabwe.