ECONOMICS: On the positive side, though, the U.S. government won’t be able to waste … …

Monday, August 19, 2024

https://armageddonprose.substack.com/p/brics-alternative-currency-near-realization

BRICS Alternative Currency Near Realization, American Empire Death Imminent?
Ben Bartee  —  Aug 11, 2024

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The U.S. government cannot print its way out of this mess because the only value that it derives from the dollar, it being based on nothing, is based on global demand.

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On the positive side, though, the U.S. government won’t be able to waste nearly a trillion dollars on “defense budgets” any longer to start global wars, nor will it be in a position to export child trannyism or any of its other degenerate machinations throughout the world by leveraging its financial dominance. As long as finances matter, it also won’t be able to exert the same degree of domestic political oppression and surveillance as it once did — although it will certainly try to continue doing all of those things, possibly via World War III to try to maintain its global position.

Ben Bartee is an independent Bangkok-based American journalist with opposable thumbs.
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Recognition that the US$ is essentially worthless (i.e., can’t be redeemed for gold or silver) will doom the USA to hard times.

Remember the meme: “hard time make great men”.  So we can hope that the politicians and bureaucrats, that are replaced, are replaced with good productive visionaries that will get the Gooferment out of the way.

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MONEY: USA “sanctions” spur tech solution to SWIFT

Thursday, July 11, 2024

FROM TLDR Crypto 2024-07-05

https://cryptoslate.com/russia-contemplating-permanently-legalizing-stablecoins-for-cross-border-payments/

Russian government considering legalizing stablecoins for cross-border payments (2 minute read)

  • Russia is considering regulating the entire transaction chain, from transferring these assets into the country to accumulating and utilizing them for cross-border payments.

Assad Jafri
Jul. 3, 2024 at 8:48 pm UTC
Updated: Jul. 3, 2024 at 8:48 pm UTC

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Russia is considering legalizing stablecoins for international transactions to improve cross-border payments and mitigate the effects of ongoing sanctions. The Russian Central Bank is looking to regulate the transaction chain from entry to utilization. Its initiative would primarily target facilitating transactions with BRICS countries effectively integrating stablecoins into the national framework for international settlements. 

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This is another nail in the coffin of the USA dollar and the SWIFT funds transfer system.

Our politicians and bureaucrats have really screwed the pooch this time.

Now assets will move bypassing and being transparent to the USA.

Good job, Guys.  Incentivize the rapid adoption of a competitive technology.

Argh!

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