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The Bitcoin Standard and the Fiat Standard on Time and Space
After the Russian invasion of Ukraine, the US confiscated the Russian central bank's significant monetary reserves and banned some Russian banks from the Swift network. Serious questions are being asked about the survival of the post-war dollar based world monetary order. Will Russia, China and other countries actually build an alternative international settlement system after years of threatening to do so? Will we witness the birth of a new commodity, gold based monetary order? In this seminar, we use the insights from the Bitcoin Standard and the fiat standard on temporal and spatial sellability to explain why reports of the death of the dollar may be exaggerated.