I agree, with one caveat. There's always a chance that the organizations issuing these "stablecoins" pull off something analogous to what Nixon did when he ende

I agree, with one caveat. There's always a chance that the organizations issuing these "stablecoins" pull off something analogous to what Nixon did when he ended the convertibility of the US Dollar into gold, making it impossible, in fact illegal, for anyone to call up the US Treasury and request that they exchange a bunch of dollars with gold from Fort Knox.[a] Many so-called "gold bugs" and "Austrian School economists" predicted the transition to a non-convertible dollar would surely lead to monetary and economic disaster... but so far, they've been wrong: Things have actually worked remarkably well for half a century. Could Bitfinex pull off something like that? I'm not sure, but I wouldn't rule it out 100%. [a] https://www.federalreservehistory.org/essays/gold-convertibility-ends https://www.federalreservehistory.org/essays/gold-convertibi...