I suppose it would’ve be the realm of this newsletter to speculate on the KYC/BSA implications of a dollar denominated stablecoin payment for a toll slash bribe of this nature
There’s something almost poetic about this. Even in a world trying to route around the system, the system still shows up underneath it .
You can change the rails, RMB, stablecoins, intermediaries, but the unit of account lingers. The deal still gets measured in dollars, even when the dollars themselves are disguised. It’s like the language of trade hasn’t changed, just the dialect.
Markets tend to reveal power in moments like this. Not in headlines about dominance or decline, but in what people actually use when it matters. When ships need to pass, when risk is real, when time is short.
And right now, even in the shadows of geopolitics, the dollar still seems to be the thing everyone quietly agrees on, whether they admit it or not.
I suppose it would’ve be the realm of this newsletter to speculate on the KYC/BSA implications of a dollar denominated stablecoin payment for a toll slash bribe of this nature
There’s something almost poetic about this. Even in a world trying to route around the system, the system still shows up underneath it .
You can change the rails, RMB, stablecoins, intermediaries, but the unit of account lingers. The deal still gets measured in dollars, even when the dollars themselves are disguised. It’s like the language of trade hasn’t changed, just the dialect.
Markets tend to reveal power in moments like this. Not in headlines about dominance or decline, but in what people actually use when it matters. When ships need to pass, when risk is real, when time is short.
And right now, even in the shadows of geopolitics, the dollar still seems to be the thing everyone quietly agrees on, whether they admit it or not.
LFG