When A Fiat System Starts Imploding

https://www.forexlive.com/news/these-are-desperate-times-in-china-20230914/ central banks ordering local banks to stop settling their positions in foreign currency. a seemingly meaningless financial event for most, but a sign of desperation and of impeding potential currency collapse.

Collectivism, and authoritarianism, come with a price. Literally, the discount markets will put on the value of assets denominated in that currency , and the speculative runs that can only be halted by fiat decree. A free market China would already be market leader in many things.

Without Bitcoin, there would be little to celebrate, because the ship is sinking without lifeboats.

Not everyone will be able to get a lifeboat, but having lifeboats makes all the difference, because those who aren't desperately drowning themselves are more capable of helping those who are.

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