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captjack 🏴‍☠️✨💜 · 1d
US dollar-denominated sovereign bond issued by another sovereign country #asknostr anyone understands underlying principle btw ?
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captjack 🏴‍☠️✨💜 @captjack 🏴‍☠️✨💜
maybe looking from another angle
PAXOS issues PAXG
TETHER issues XAU
both hodl underlying asset - very clear

in case 2nd country issues BOND in denominated in another country currency
do the need hodl asset in that currency or just credibility to settle in that currency ? that's puzzle
captjack 🏴‍☠️✨💜 · 1d
example - Swiss National Bank issues EURO-bonds or PBOC/HKMA issues USD-bonds or EUR-bonds - it is DENOMINATION UNIT which investors count.
captjack 🏴‍☠️✨💜 · 1d
maybe looking from another angle PAXOS issues PAXG TETHER issues XAU both hodl underlying asset - very clear in case 2nd country issues BOND in denominated in another country currency do the need hodl asset in that currency or just credibility to settle in that currency ? that's puzzle