America gained so much from being able to print the global reserve currency.

It has complete freedom in terms of its monetary policy essentially.

It's able to do anything it wants in terms of interest rates, in terms of money creation.

It has the top hand in terms of everything to do with the international financial system

in terms of regulating it, overseeing it, whatever.

That gives it a huge amount of power.

And it means it's effectively able to finance unlimited amounts of spending nearly.

So America's not going to give that up without a fight.

And it's not clear who would take it on to try and take that power away from it.

Well, in a world where China continues to grow and ultimately does become the world's reserve currency,

doesn't there suddenly become an incentive for America to pivot to an alternative?

I mean, as there are world we're in anticipation of that,

America would be on board with crypto, crypto being a better alternative than having a deal with China.

Well, I mean, there's so much that would have to happen to even get to the point

where we're thinking about that because I mean, so even before you start thinking about China becoming

the dominant international reserve currency, it has to stop basically intervening to

peg its currency against the dollar.

It would have to let its currency float freely on international markets.

And that's not something that it looks like the Chinese state is going to be able to do

in the medium term, at least.

It's the ambition over the long term, but certainly not in the medium term.

What is the long term?

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