Rereading @gladstein 's excellent expose on the Petrodollar recently and thinking: what would it seem like, if it seemed like (h/t @allen ) the petrodollar system was coming to an end, and the US knew it, and was embracing cryptodollars as a replacement for petrodollars, not by accident but by design.

I think it would look a lot like some of the stable coins we are seeing today, exporting our inflation out into the world through making stablecoins available in hundreds of countries where our banking system doesn't reach, and driving up a demand for US treasuries by stablecoin issuers, which pushes down US treasury yields, allows issuance of cheap debt, etc. Just like the petrodollar did.

Paul Ryan's recent comments show a clear understanding of this picture.