tl;dr: the day is coming. May as well think about it now.

I’ve been thinking about the question of: “what does the world look like after the dollar is no longer the global reserve currency?”

Now, that may not happen this year or even this decade, but, at least to my mind, it’s inevitable.

There are all types of implications for the US in terms of foreign policy and quality of life, but also in terms of how the rest of the global economy functions.

There’s a powerful quote at the beginning of this video where Ross Stevens says:

“Central bankers can make money, but they can’t make people value money.”

Ross Stevens

I haven’t finished watching it yet, but the beginning shows a lot of promise. Here’s what I saw in a Telegram channel in which I am a member, which got my attention to it in the first place.

“This is a fascinating conversation on the topics of the history of Central Bank action vis-a-vis global stock markets, the aftershock of our current recession on income inequality, how energy creation will have a radical shift on current and future cities, how public and private company CEOs and CFOs will be judged on how they allocate capital over the next decade, and how American institutions, such as insurance companies and pension funds, are flooding into Bitcoin.

Ross’ company has a no media policy, and this is a rare glimpse at his portfolio and balance sheet, something he has rarely before ever revealed. Ross is a clear blue flame thinker who has studied under Nobel Laureates, and perhaps the most understated thought leader in the corporate finance world. This is an hour well spent.”