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126 sats \ 2 replies \ @SimpleStacker 21h \ on: Stablecoin Adoption Could Stifle Central Bank Control, IMF Warns econ
It's interesting that stablecoins are achieving (at least in part, if not in full) one of bitcoin's objectives. But it seems to me to mainly undermine the monetary sovereignty of non-US currencies, thus concentrating even more power in the hands of the Federal Reserve and the US dollar to dictate monetary policy for the rest of the world. Bitcoin is the only option to decouple from dollar sovereignty.
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17 sats \ 1 reply \ @Undisciplined 10h
That's the hyperdollarization-before-hyperbitcoinization thesis.
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69 sats \ 0 replies \ @justin_shocknet 7h
Bingo. Need to wipe out every non-dollar fiat first.
undermine the monetary sovereignty of non-US currencies
Thats the point, dollar supremacy... all other fiats are propped up at the dollars expense (American's blood and treasure). Tariffs are the other part of this.
hands of the Federal Reserve
Fed is already cooked, it's not so slowly being merged back in to the US Treasury.
It becomes much easier for foreigners to adopt Bitcoin once their local currency collapses, and they have a stablecoin wallet installed. Dollar wrecking ball facilitates that.
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