Dylan, talking my own book here (so aware of my biases): doesn’t this prove gold’s worth as the only true reserve asset?
never seen weaponization of money on this scale before…you only get to play the card once. china will make it a priority to need no USD before going for Taiwan. it’s a turning point in monetary history: the end of USD hegemony & the acceleration towards a bipolar monetary order
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If they export products outside of China, they have no choice but to take euros and usd
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There has been constant progress towards dedollarization in Asia for years now. What China announced yesterday is a huge step in that direction: they stopped emitting ceedit notes in USD towards Russia in accordance with sanctions, but instead provide credit in Renminbi.
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Another nail in the coffin of usd hegemony.
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I’ve been hearing for years about the downfall of the USD it will never happen.
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Never? The French, British, Spanish, Roman, Greek, Egyptian Empires will NEVER fall. Wait, what???
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Its actually a bipolar TRADE order because a lot of these sanctions require western countries participation NOT a US arbitrary decision.
Thanks. Twitter will use this info to make your timeline better. UndoUndo
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Looks like you are sharing Putin’s pain… I am sure he appreciates your concern. And if crypto helps authoritarian leaders to escape accountability, and you think it’s a good thing.. Then we have different views on morality.
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I don't think his tweet is any sort of normative position. He's just pointing out something that has looked to be inevitable for a long time now.
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