Oddbean

If all the countries on Earth switch to Bitcoin, tariffs will not work to protect the US Dollar. All the countries of the world rejected the American CDMA mobile phone standard for GSM and America capitulated. I'm afraid, due to mismanagement of previous US Administrations starting with Nixon, the US Dollar is finished. For the second time in US History. The only way out for America now, to preserve its position as the number one country for the mediation of money world wide, is to go full Bitcoin. That means immediately making Bitcoin Legal Tender in the USA and removing and forbidding all regulations that seek to control it, under the First Amendment pretext. When this happens, the genius of America will catapult Bitcoin to global reserve currency status via Silicon Valley. No other currency on Earth will have the internet as its backbone. The Ruble, the Euro and all other currencies would be exsanguinated as people all over the world sell their government issued fiats for Bitcoin. America wins again. America wins again because it will be the global hub for Bitcoin. All the expertise of how to handle it and work under its necessary limitations will rest with American know how, and no one on earth has a Silicon Valley with global penetration to rival America. China will have two choices in this global battle for reserve currency status. They will lose this battle because they are linguistically locked away from the rest of the world, that does not use it's poisoned apps. Only America has the opportunity to re-capture the "Guardian of the Reserve Currency" status, but this time, they will do it by merit, not by deception (The Federal Reserve). Essentially, America now has a second chance to preserve its power. How they are getting so many breaks is bewildering; Trump himself being the most exceptional second chance. Like all real Americans, I love Trump. There is no one like him; he embodies the American way of life, optimism, "Can Do" attitude, fearlessness and power. I hope he sails into office and keeps his promises to steer America towards peace while delivering prosperity by restraining, constraining and reducing the Federal Government. If anyone can do it, Trump can. The US Dollar however, is a real problem, and all foreign governments (the most recent one being Nigeria, which has now abandoned the Dollar for the Naira when it comes to oil purchases), are sick and tired of the vulgar, impudent, corrupt, and murderous behavior of previous US administrations. Trump can change all of this. By symbolically abandoning the US Dollar, and blaming the Federal Reserve for it, he can pivot back to "Real American Money + Bitcoin" Gold, Silver and Bitcoin. Will he do it? We're all going to find out! https://x.com/BRICSinfo/status/1846270920911986969

If the dollar is under such a threat that the US has to go the extreme (by their standards) of making bitcoin legal tender - if it’s that bad - then who the hell is buying up all of the US treasuries? Yellen has been issuing ridiculous amounts of debt and, while there have been a couple of bad auctions, it’s still getting bought. Please explain this. Because if the dollar is not wanted, then treasuries are even less valuable. Don’t get me wrong - I’m all for what you describe. But that isn’t reality from what I can tell.

He’s a counter to the narrative that orgs like BRICS will lead to the death of the dollar: The Cantillon Effect is pretty clear about the advantages of proximity to money printing. This means the US will continue to be a dominant consumer in the global economy, if not THE dominant consumer. And we have dollars. This creates a degree of demand in and of itself. This means other countries have less purchasing power, and thus the costs of their debts are therefore higher. This, alone, creates demand for the dollar and treasuries. This offsets a percentage of the dollar’s debasement - as it’s all about supply vs demand. The petrodollar agreement and the the later Eurodollar agreements (plaza and louvre accord) helped kickstart this feedback loop. As things like global recessions, global debt unwinds (like the yen carry trade or Chinese real estate investment), this exacerbates the issue. The dollar may be impacted, but it’s impacted less than other countries. Other countries have much thinner margins - room for error - before they have to seek a more stable currency like the dollar. And so demand continues to build. Again, the Cantillon Effect is clear. Those furthest away from the money printer suffer the most - driving them to struggle to get closer to the printer (and get dollars). Demand for the dollar is only going to strengthen. This enables the shitheads in the treasury department to continue to print. So long as their printing doesn’t outpace demand, this will continue until we reach the inflection point for hyperinflation. It’s OTHER countries that need to adopt bitcoin in order to preserve their purchasing power - El Salvador style. The US will be the last to adopt bitcoin.

https://media.tenor.com/MXNIOoQpIRIAAAAM/youknow-you.gif nostr:nevent1qqsqxgpkwkcrz8e67l5q9ryxrsy4chfr6nery3av69jvyka3c0hnuxcpvemhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33xdn85vp5dfjk5dmwdd68varkvuerger28yervcf4vd6xxmtpwumx26ms8ycrywr9w4urxur6xd3hx7rywfckwephxauh20mzwfhkzerrv9ehg0t5wf6k2q3qccsfkkfk46jsjtn80cup0vjn98slkheqd65t36tut822kddvdcxqxpqqqqqqzqv2fh8

That's a lot of hopium. nostr:nevent1qqsqxgpkwkcrz8e67l5q9ryxrsy4chfr6nery3av69jvyka3c0hnuxcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygxxyzd4jd4w55yjuem78qtmy5efu8a47grw4zuwjlze6j4nttrwpspsgqqqqqqslus9r0

If they focus on freedom they could become the custodian of choice and make decent money off ofrunningg networks like lightning and making slightly higher spreads as the custodian of choice. There are ways to build it. Many OGs want all the self custodial solutions but many people prefer someone else to tell them what to do. With a solid unit of account and foundation the global economy can function far better than today and accomplish many, perhaps all of Bitcoin's potential good.

The U.S. Dollar 💵 has faced demise far more than realized: 1. Continental Dollar (1775-1779) Hyper-inflated to pay for Revolutionary War; hence the term “Not Worth a Continental” by 1781 losing 99% of its value. 2. Small Treasury Notes (1815) used to pay for War of 1812 3. Demand Notes (1861) colloquially known as GREENBACKS to pay for the Civil War which immediately lost its value relative to gold and could no longer be redeemed in gold. 4. Federal Reserve Act 1913 desperately needed to create money from bonds through private banks. 5. United States Notes, Legal Tender Notes (1863-1971) Nixon abandoned the gold redeemable (i.e. bankruptcy). 6. Petrodollar replaced by CBDC (XXXX) 7. CBDC supplanted by ₿itcoin dominance (XXXX)

I get it. You’re against the American way of life, optimism, "Can Do" attitude, fearlessness and power. You’re against steering America towards peace while delivering prosperity by restraining, constraining and reducing the Federal Government. That’s you, right?

Not even close lol. You’re attributing a lot of things to Trump that have nothing to do with him. The entire point of your post is that the US dollar is a problem, yet Trump is 100% all in on US dollar hegemony even to the degree that he will impose 100% tariffs on countries ditching the dollar. I’m against narcissistic demagogues who pander to bitcoiners and libertarians as if they are one themselves. I’m against authoritarian strongmen who have openly supported the public execution of “drug dealers.” Yes, I sure trust Trump to decide who or what a “drug dealer” is. If you look at history, nothing good ever comes from guys like him. We all lose regardless of whether he wins or Kamala wins. Kamala might steer the titanic slightly faster and more directly into the ice berg, which who knows, might even be better. Israel and Ukraine, the military industrial complex win the election either way. We will never have real choice in this country until we get something like rank choice voting implemented nationally, which the uniparty will never allow.