All right, welcome back to another narrative watch with Misari.

What's up, guys?

How's it going?

As every Monday, we are back to talk about the kind of the narrative that I think is most shaping what's going on in the world today.

And that is undoubtedly the game of coins. So what is the game of coins? The game of coins is

the idea that we are in the midst of a massive seismic reevaluation of how the global money

system is going to work. What our global reserve currency is, what currency

people use day to day, and there's a battle. Will it be some stable coin backed by a corporation?

Will it be a new digital version of a government currency? That is the question. And last week

was a major, major week and moment in the history of that conversation.

So that's what we're going to talk about today. So let's go back a little bit to the beginning of

this summer. You know, the undeniable context for everything going on right now is Libra, right? Libra was this

incredibly powerful, catalytic force when it comes to this question of what the

future of money looks like in terms of kind of a global reserve currency. So by way of example,

after Libra was announced, a Chinese official, an ex-Pieples Bank of China governor said at an

event that based because of Libra, China should

accelerate their efforts to prepare a digital UN, right, to counter Facebook Libra.

This is not obviously just restrained or constrained to China. We've seen obviously huge interest

in the US or from the US around figuring out just what the Libra is going to mean in terms of the dollar status. The difference in the U.S. or from the U.S. around figuring out just what the Libra is going to mean

in terms of the dollar status. The difference in the U.S. of course, is that the U.S. dollar is

the global reserve currency and that it kind of, it's the incumbent, right? China is not. TRIA is one of

the insurgents. This was followed by news that China Central Bank actually had accelerated efforts and that after five years of research and development from a project that started in 2014, they were close to launching an official digital currency. This was just a couple of weeks ago. We saw this at a at a closed room kind of meeting of Chinese officials.

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