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RE: HBD: Argentina Is Showing The Path For Stablecoins

in LeoFinance9 months ago

Agree with you. It's actually already the case that the nature of the world economic system has created stability in the USD, I still recall two years ago when the dollar was in high demand as a way of curbing inflation outside of the USA, for a short time it was stronger than the Euro. Despite all of the poor Governance and Policy in the USA, the petro-dollar has remained a staple of the entire world economic system, with the international markets even able to overcome the decisions of the US Government to maintain Stability. I think the case of Argentina and other countries experiencing hyper inflation (Venezuela comes to mind) are interesting to watch how they will continue to navigate the storm in the Web3 economy.

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the petro-dollar has remained a staple of the entire world economic system

This is mythology too, an idea promoted by gold bugs as to why the USD have value.

The reality is the USD is strong because it has the most economic activity tied to it in the history of any currency in the world. It is also the core of the international banking and financial system.

There is roughly $8 billion in oil traded each day; there is $4.5T-$5T in funding through repo daily.

Math says the petrodollar is a total myth.