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Dollar Strength and Market Instability
- The US dollar's strength is pushing treasury yields up, creating market instability.
- This situation may lead to a bumpy period in the short term, followed by dollar-weakening policies to boost growth.
Bitcoin's Role in the Monetary System
- Governments and central banks likely won't let Bitcoin fully replace the dollar as the global reserve currency.
- Bitcoin might join gold in replacing treasuries as the primary reserve asset.
A Stronger Dollar System vs. A Weaker Dollar
- A stronger dollar system and a weaker dollar are not mutually exclusive.
- Shifting to a neutral reserve asset system could weaken the dollar over time.