Loooooooooooooooolhttps://twitter.com/lokinhei/status/1293484248398102528 …
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eigenrobot Retweeted LO Kin-hei 羅健熙
Loooooooooooooooolhttps://twitter.com/lokinhei/status/1293484248398102528 …
eigenrobot added,
I mean, yeah. In at least one major way we're coming out of this on top: Covid Supercharges Federal Reserve as Backup Lender to the World https://www.wsj.com/articles/fed-federal-reserve-jerome-powell-covid-coronavirus-dollar-lending-economy-foreign-currency-11596228151 …
Our internal politics can be a mess and even our military deterrence can take a significant hit, but at the end of the day we still wield incredible and growing financial power. I'm too dumb to know or understand all the implications, but my smarter friends seem encouraged.
Yeah, it's a giant stick and few talk about it but it's extremely real . . . until one day maybe it isn't but I try not to think about how that would go down
What replaces it? Dollar Euro - Cyprus "bail-in", German issues Chinese Yen - Trillion-dollar capital flight in <2 weeks when they tried GB Pound - 1/5th the size, Everyone remembers what happened when they ruled the world... Japanese Yen - 1/10th the size, they don't want it
I think after that, you're down to Canada, Switzerland, Denmark... I forget the exact order, but if 330 Million Americans can't grease the global monetary order, they just aren't big enough.
It was only that in name. Was frankly one big forever war outside the UK.
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