Arthur Hayes： Bitcoin will benefit from the ebb of the US dollar reserve system and the global trend towards de dollarization

BlockBeats reported that on April 5, Arthur Hayes, a BitMEX co founder, said that "the era of US treasury bond bonds (and, to a lesser extent, US stocks) as global reserve assets is coming to an end. Since Nixon decoupled the US dollar from gold in 1971, the total amount of US treasury bond has increased 85 times. The US has had to create a credit currency that matches the global economic growth. This is good for some Americans, but bad for others. Trump's election was driven by those who believe that they have not shared the" prosperity achievements "of the past 50 years. Once the current account deficit of the United States is eliminated, foreigners will not get dollars to buy American bonds and stocks. If countries begin to shift towards a "country first" policy to boost their own economies, they will sell off their holdings of US bonds and stocks to gain liquidity in their own currencies. Even if Trump later softened his tariff stance, no Treasury Secretary or head of state dared to bet that he would not repeat it again. Therefore, the world cannot return to its previous state. Every country must fight for itself. Gold will return to the stage as a neutral reserve asset. The US dollar will still be the global reserve currency, but countries will settle global trade by holding gold. Trump has hinted at this because gold is tariff free! In the new monetary system, gold must circulate freely and at a low cost. Nowadays, those who have benefited greatly from the old system are mostly in the stage of denial, immersed in a fantasy that everything will eventually return to 'normal'. Absurd to the extreme. Those who want to adapt to the pre-1971 global trade order should buy gold, gold mining companies, and Bitcoin (BTC)