Next topic.

Fall of the Petrodollar.
Leads to>
Redemption period. (70% of cash overseas)
Leads to>
Rise of the US Dollar. (Deflation)

What doesn't kill you makes you stronger.

more stimmy to come? people with wheelbarrows of cash, except this time, it’s actually worth something?

i know in the past you said change of system forces disclosure of hidden $.

death of petrodollar means are currency is no longer dependent on oil trade. means we can begin introduction of new forms of energy without disrupting trade / $ strength.

redemption decreases money supply (an effective burn), bringing on deflation. puts people in control. further, encourages and gives need for backing with PM’s or some other tangible asset.

all successful societies have a deflationary currency. not just in terms of decreasing price, but money is a true store of energy and value. work done years ago should still be valued today. and in fact, with technology, it should only be MORE valuable today.

this encourages savers, discourages the need to wildly speculate since interest rates rise and lending / saving generated a low risk high yield return.

Just research Venezuela's hyperinflation as one example. They reset their currency, make changes, lop off zeros - and it never leads to deflation. It's accounting bs. So, I still don't see why or how if we go (arguably there now) into hyperinflation then how does a new currency combat that?

Venezuela was all alone with a crashed economy. They weren't the reserve currency.
70% of USD CASH is not in the USA. If they have to change that for a new $ thru the current banking system they will have to prove where it came from. They wont be able to. Trillions will be left behind causing instant deflation. Of course it will inflate after that but it will have the American economy behind it.

America is the best customer. We buy the most. Other countries don't want us to become poor.

The customer is always right comes to mind.

So are you pro central bank digital currency? If they use that in the name of combatting all these dollars internationally in criminal hands then it must be known it will also be used to control all of us. In order for any currency change to do what you say, as I think of it, it would have to be digital. No more actual currency at all, no?

Use logic. The banks are 100% in control of our lives currently. They can shut us down for donating to Trucker. Example Canada.

I am against that. XRP gives the bridge to whatever currency I like.

If some CBDC becomes too restrictive I just wont use it. The free market will decide.

In Canada the laws call that Laundering.

Can not be traded, or you are a business and subjected to incredible tax rates.

Must be bought with Canadian currency, traceable history by Gov, and then converted back to Canadian currency only.

Otherwise the Gov takes it and you lose all.

New rules called "FinTrac"

Canadian here. Buy then put in cold storage, Voila!!!

Doesn't change a thing with Fintrac.

Can not be converted back into your bank account without going through FinTrac. The banks have to follow it with any large amount of money put in any bank account in Canada.

I have a Nano but after reading those rules, scared to use it.
I am only a Newbie to Crypto.

These Rules took effect Jan 31st. Thank you JT.

Ontario exchanges are not even allowed to sell or buy XRP/XLM or US Dollar Tokens, period.