Oddbean new post about login | logout Historians will write about the end of the dollar as the world reserve currency and they will reference the year 2022 as the year it lost the crown. https://m.primal.net/IMCi.jpg
Not yet, the restrictive monetary policy + stablecoins offer an increased lifeline for somewhat globally stable currency in the short to medium term
Stable coins are fantastically overhyped to provide this role. Every stablecoin ever issued to date (100bn+ USD) only covers a few weeks of fiscal deficit at this rate. Perhaps it could grow to months. Not years. It WONT change the trajectory or timing meaningfully. It’s simple math. But few do the calculations.
For many people, they need a way to to have less abstracted short term purchasing power I don’t like any of the current implementations, but I think there is big product market fit. Not for many people currently on nostr… but many, many others
And the good guys won again. Would you believe that
yup. We in the west are the "baddies". Finally people are waking up to that.
Fourth turning
As long as there is a currency that lets me buy a burger, i dont care what it is. lol. Realisticly speaking? Most people won't. Because why should they care? They gat their wage from a job, spend it on rent, power, gas and food. What sign is behind it hardly matters - if euro, dollar, or rubel. Is what it is. Neat, interesting, but ultimatively, "eh, moving on."
