Balaji Srinivasan

They hit a button digitally.

But if they roll off a bunch of new hundreds, a bunch of new counterfeit 100s, the first guys who get those hundreds, like the banks, can use them to buy assets and so on.

And then eventually, eventually it filters down so that some cashier in Kansas gets that counterfeited new $100 bill, but its purchasing powers crash by the time it gets to them.

Yep.

OK, so the red American is correct in a sense.

They feel that something bad is happening to them and their intuition is correct.

But the mechanism is important.

It's not that the person in Thailand or Uruguay is oppressing the red American.

They're also getting taxed by the dollar empire.

Yep.

That's right.

Here's my story in 1991, right at the end of the cold war.

Okay.

The U S was the hyper power, the most dominant power ever in history and Democrats and Republicans were dominant and the internet was tiny and China, China was tiny.

Okay.

Basically commerce on the internet.

There's something called the NSF acceptable use policy.

It was only actually legalized in 1991 and China was only 10 years into going capitalist.

Okay.

By 2010, uh,