It kind of makes sense for Russia to move into crypto in a big way. Aside from being part of a strategy of de-dollarisation, if there is one thing Russia has it's insane amounts of spare energy.
Europe prefers to buy American oil and gas at twice the price of the Russian stuff (plus they have no choice after Nordstream mysteriously blew up the day after the new US LNG pipeline opened), so Russia may make as much profit burning it into Bitcoin as selling it to India and China at discounted rates. But more importantly, with dozens of major rivers they have almost limitless potential for generating hydroelectric power. Siberia could be like a Bitcoin printing press, creating a significant economic advantage.
Funny that the Norwegian government issues the findings that a submarine rescue ship was loitering in the exact areas and was responsible for nordstream...
And Russia has only gold oil and cryptocurrency anymore. oh and 11 rounds of sanctions that are going to squeeze the last breath from the Soviet dream.
If Russia hadn't have defaulted on their debt for world war II we wouldn't be in this position. China is only been able to pay 10% of the principal loan they took out in the 40s. China is so far in debt to the United States that they will never pay it off.. that is the reason why China is forced to buy American debt.
Or do you really think that China just buys American debt for no reason.
There's an old saying. "If I owe someone £100, it's my problem. If I owe someone £1,000,000 it's their problem".
The US is massively in debt, and China holds a lot of it (although they've been de-dollarising heavily when it comes to reserve holdings). If China chose to dump all that debt onto the world markets at once, or instantly repay their debt to the US, even at a steep discount, the US economy would collapse. Yes, it would mess China up as well (and everyone else, too...) but only one of those two has an industrial base they could rebuild from. The US government appear to be so incompetent that they've forgotten this.
The USA during world war II saved the entire world. China and Russia all took loans to save themselves. Or we would be speaking German and Japanese.
The reason Russia went bankrupt in the 90s? They refused to pay the debt.
Same with China.
Taiwan paid it and is able to pay it with computer chips.
China? Is going to always be paying and that is the reason they have to buy American debt.
Guess you aren't as good at history and current events.
China can't dump American debt. Who they going to dump it to? They have to buy American debt as they can NEVER repay that loan. That's why they hate the usa.
And that's another reason the fentanyl crisis is going to destroy Chinese communism. Besides the humanitarian crisis they caused. They are going to end up owned by the world banking cartel like Russia is.
Just a matter of time until China collapses under it's mismanagement. Only Russian and china are stupid enough to try to take over the world when the world hasn't been repayed from saving them from the last world war. At this point we should have let Germany and Japan take Russia and china.
Europe is dumb