• The Greenland episode is better interpreted as a coercive negotiating tactic to push Europe toward higher military spending and war footing rather than a literal invasion plan.
• In a fiat monetary system the Federal Reserve has substantially more power than in the 1940s when gold constraints limited its actions.
• In a multipolar fiat-currency world, the US dollar’s reserve-currency privilege is the country’s most powerful asset, and recent actions have caused permanent but gradual damage to trust in that privilege.

• Bringing FX on-chain is described as requiring coordination with many institutions across many countries, and many institutions will not adopt public blockchains.
• SWIFT and correspondent banking are characterized as not designed to reliably serve emerging-market payment corridors, and some countries have zero banks with direct U.S. correspondent access.
• In capital-markets stablecoin plumbing, the 'last mile' is described as scalable 24/7 creation and redemption rather than consumer access.