Pick your fighter! You may not know it yet, but the fight of the future of the global reserve asset is already underway.
America is taking the path of stablecoins that will be backed by short-duration US treasuries. The thinking is that material demand across the globe for USD as the reserve currency can be repurposed into support for American debt.
China is taking a gold centric and sovereign/institutional path. Trading partners can convert any RMB surpluses via the gold window at the Shanghai International Gold Exchange. It is a physical gold option and trading partners can take full delivery.
Very different approaches and targeting very different constituencies.
prc30 / Peter Alexander
npub1yy…4kawc
2026-10-28 02:28:43 UTC
Author Public Key
npub1yy3uc7y85faxy5cwq8f574yda3j9457p7r9h2ymlkwlx6lp8f4vsy4kawcPublished at
2026-10-28 02:28:43 UTCEvent JSON
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"content": "Pick your fighter! You may not know it yet, but the fight of the future of the global reserve asset is already underway. \n\nAmerica is taking the path of stablecoins that will be backed by short-duration US treasuries. The thinking is that material demand across the globe for USD as the reserve currency can be repurposed into support for American debt. \n\nChina is taking a gold centric and sovereign/institutional path. Trading partners can convert any RMB surpluses via the gold window at the Shanghai International Gold Exchange. It is a physical gold option and trading partners can take full delivery. \n\nVery different approaches and targeting very different constituencies.",
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