The US and the international order. Two approaches in recent years. First, Trump consistently dismantling or ignoring it in belief American power is greater outside its limits
Problem was without the guidance of the existing order, policy became lost and erratic. What was the goal in confronting China? Either a random one like the trade deficit or no goal at all
Now Biden: recover the international order as created by the US. American power greater in that framework and it also provides stable guidance, north star and compass. But...
Sense that international order is not working and may make the US vulnerable has not disappeared. Biden administration seems decided to pursue an activist, political approach to supply chains for example, rather than leaving them to the rules of trade and investment
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My latest piece on how financial markets are breaking apart into the same alternative realities that already rule US politics city-journal.org/gamestop-and-t…
Question I would like to ask is whether Bitcoin is the historical answer to this problem. How can you prevent any of these alternative realities from becoming dominant? The only way is to remove the power centers from which it can rule. Decentralization follows from “truth wars”
But doesn’t Bitcoin rely on truth? Yes, but it’s a manufactured truth (inviolability and acceptance have been manufactured through proof of stake) and thus appropriate for an age where truth does not naturally exist
But the whole story of course, going back decades, is that there is something like a conspiracy to artificially suppress silver prices. And now the Redditors promise to uncover it