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> They aren’t as stable as they claim to be, and the stability they do have arises from free-riding on the US banking system and monetary policy – and as we’ll
by dotcoma 1y ago
> They aren’t as stable as they claim to be, and the stability they do have arises from free-riding on the US banking system and monetary policy – and as we’ll come back to, if stablecoins are able to keep gaining market share, these parasites might eventually endanger their hosts.
- joshtbradley 1y agoStrong statement, where is the evidence? The GENIUS Act is quite brilliant in my opinion. It strengthens the dollar by simultaneously creating demand for USD and US Treasuries.
- dotcoma 1y agoI was merely quoting the author, in Chapter 3, in the paragraph just before > Stablecoins around the world https://fintechdystopia.com/chapters/chapter3.html https://fintechdystopia.com/chapters/chapter3.html
- joshtbradley 1y agoAnd I was merely refuting the premise of that quote.