Ed O'Shaughnessy
@eddieosh
Complexity explorer. Residing in the liminal.
Pinned
TheDebriefing17
@TheDebriefing17
6d
🤔For about 60 years, the global financial system ran on a simple trick: move dollars outside the United States where nobody was watching.
Banks figured this out in the 1950s. If you lend dollars in London instead of New York, no American regulator sees the transaction. No
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"The dollar isn't weakening. It's being digitized. And the institutions digitizing it aren't crypto startups in El Salvador. They're Goldman Sachs and Bank of America and Deutsche Bank, operating under Treasury's rules, holding Treasury's bonds, screening transactions through Treasury's sanctions office."
TheDebriefing17
@TheDebriefing17
7d
🤔BOOM BOOM BOOM Twenty-One Banks Walked Through the Door
On September 1, twenty-one of the world's largest financial institutions announced they are forming a company to issue a U.S. dollar stablecoin. Launch target: first half of 2027.
Goldman Sachs. Bank of America. Citi. https://t.co/opbwgE6kLC
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It's complicated.
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