Hey, gang. Here’s the short version:
China is about to launch an international payments system called mBridge.
mBridge is a direct challenge to the dollar’s position as the global reserve currency.
In the aftermath of the Iran war, China is pushing ahead with a system that could help replace the petrodollar. WHICH WOULD BE BAD.
Oh, and Donald Trump is fucking this up, too.
If you don’t want to read the long version, I understand. But my mission is to make you smarter and help you see around corners. Sometimes that means eating your vegetables. To make it go down easier, I’ll share some pictures of my cat, K-Pop, as we go.
But before you click away, do me a solid and hit the “like” button? Thanks. ❤️
And if, God help you, you get to the end and think, “I want more of this spinach,” then come and join Bulwark+. We do this every day. The only way through is together.
1. Plumbing
Have you ever wondered how money moves? You run a refinery in the Philippines and you want to buy crude oil from a company in the UAE. How does your money get from Manila to Abu Dhabi?
Once upon a time, the buyer’s bank would send a Telex to the seller’s bank saying,