Given conflict in the Ukraine, is the world readying itself for a new monetary system in which bitcoin is an important piece? Maybe we are on the eve of Bretton Woods III. gckaloudis writes for this week’s Crypto Long & Short newsletter.
. Thus, China is in a fortuitous position to strengthen its currency in the face of a commodity crisis.and, because of the sanctions, Russian commodities are less desirable than commodities from other countries. The People’s Bank of China, which has massive amounts of now seizable, U.S.-based inside money, could defensively sell Treasurys to fund the purchase of “subprime” Russian commodities.
– a messaging system that supports international bank transactions – to the new confiscation risk associated with U.S. inside money and we could be looking at the beginning of a new monetary regime, a “Bretton Woods III.” Now, we are facing a world where there may be a sharper focus on outside money, like gold and other commodities as countries boost their reserves.This point is exactly the impetus for writing about this topic for the newsletter.
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