Matthew Pines, Executive Director at the Bitcoin Policy Institute, has addressed concerns about the fracturing global financial system and the reliability of U.S. Federal Reserve dollar swap lines. He notes that European banks are heavily reliant on dollar funding, with 17% of their financing in dollars, and highlights a shift in the U.S. Treasury market, where foreign central banks are becoming less reliable buyers, increasing domestic dependence on the Fed during financial stress. Pines suggests that reduced access to swap lines may drive greater demand for U.S. Treasuries as a liquidity source. He warns that as the U.S. reconfigures its global security commitments, it may also reshape economic and monetary systems, creating a strategic trilemma for countries balancing dollar access, policy flexibility, and the U.S.-China rivalry. Pines emphasizes that the assumption of the Fed as the global lender of last resort must now account for geopolitical conditions, as both the U.S. and China develop alternative financial infrastructures. He concludes by speculating on the implications of these changes, including the establishment of a Strategic Bitcoin Reserve and increased gold reserves.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。