A law to abolish the FED, imagine that...
I just read on Twitter that some congressmen have come up with the brilliant idea to push a potential law that would end the FED. Well, I don't see that happening anytime soon. Frankly, I wouldn't mind if it did, although I'm perfectly aware that if such a law were to come into place, there would be a bit of chaos here and there.
America would sort things out in the end; it always does brilliantly, no matter the mess it steps into, with or without intention. The big question regarding the matter is if the FED wants to be abolished and who's behind the FED? Really though, has anyone asked the question: who owns the FED?
I still haven't found any answer to that question. The next one that comes to mind is: what replaces the FED? Well, I have a candidate for that: TETHER USDT. What do you think of that? Hard to fully replace the USD, but for the sake of just being a means of exchange, I'd say it will do a good job.
USDT is a banking coin if you ask me because it is totally opposed to the principles that HBD stands for. USDT is minted by Tether, pretty much out of thin air, as they don't really hold a 1:1 backing in dollars for all the USDT they have minted. USDT is freezable and trackable and does not function on decentralized blockchains. Is Ethereum decentralized?...
The forms and functions of money as we know it will drastically change over the years, there's no doubt about it. Even if the US would like to stay on the old course, BRICS will push it towards change. China and Russia are making it clear that both are in a currency war with the US, as both have suffered from the weaponization of the dollar, thus having all the reasons in the world to ditch it for international trade.
BRICS is working on a new currency... Why wouldn't they? If degenerates can create free money out of thin air with Solana meme coins, why wouldn't they do that? Jokes aside, the USD is going to have a hard battle over the next few years. The whole banking cartel is going to be in the same situation.
Visa is working hard to change from card numbers to passkeys. HBD does that better 😉 and since I mentioned HBD, I will once again reiterate the fact that it will be my main hedge against the tumultuous times following the blow-off top in equities and crypto. Decentralized stablecoin offering 20% APR? Show me a better option...
Digitization is here, and everyone has to adjust, not just the banks or the FED. We have to be prepared as well... But don't hold all your eggs in one basket; there's no ultimate safe haven in life.
Thanks for your attention,
Adrian