Anybody remember when I posted about Stephen Miran’s appointment?
Listen to how Miran describes the growing “stablecoins” market.
Trump is purposely pushing “stablecoins” as a permanent safeguard, against central banks and a corrupt banking system.
“Federal Reserve Governor Stephen Miran argued that stablecoins’ potential multi-trillion-dollar growth over the next five years will help push down interest rates.”
“The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.
If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.
The total current market cap of all stablecoins sits at $310.7 million accordingto CoinGecko data, and Miran suggested that Fed research found the market could grow to up to $3 trillion in value in the next five years.”
Stablecoins were ALWAYS part of the plan and so was the Genius Act.
Can you imagine the stablecoin market growing from $300 million to $3 trillion in just five years?
Most of the stablecoin market is outside of the U.S., as people around the world, try to protect their wealth from their country’s low value fiat currency.
Just wait till we ditch the fiat dollar and move to a gold backed dollar stablecoin.
The stablecoin market might go much higher than $3 trillion.
The cabal banking system is panicked. They can see what Trump is doing, but cannot stop it.
“My thesis is that stablecoins are already increasing demand for US Treasury bills and other dollar-denominated liquid assets by purchasers outside the United States and that this demand will continue growing,” Miran said.
“Stablecoins may become a multitrillion-dollar elephant in the room for central bankers.”
“Organizations, including the International Monetary Fund, have warned that stablecoins pose a threat to traditional financial assets and services, as they could potentially compete for customers. US banking groups have also urged Congress to tighten oversight of stablecoins with yield, arguing they could attract would-be bank users.”
Did you catch that key word?
“COMPETE.”
The banking cabal has ALWAYS controlled the money, and financing along with credit scores.
Those days are coming to an end.
The International Monetary Fund and the banking lobby are trying to instill fear in the people, that competition in the banking system is a “bad thing.”
Competition isn’t bad for consumers, it’s bad for corrupt banks that have had a monopoly for many generations.
When these DeFi stablecoin companies are allowed to pay yield to customers, the banks will not only be forced to compete for bank depositors, they’ll have to compete for loan applications that will now favor the consumer rather than the banks.
Unlike the crooked fractional banking system, these stablecoin companies are required to hold a one for one, stablecoin to dollar ratio.
“During his speech, Miran praised the GENIUS Act for setting out clear guidelines and consumer protections, as he indicated that the regulatory framework will play a key role in spurring broader adoption of stablecoins.
“While I tend to view new regulations skeptically, I’m greatly encouraged by the GENIUS Act. This regulatory apparatus for stablecoins establishes a level of legitimacy and accountability congruent with holding traditional dollar assets,” he said, adding:
“For the purposes of monetary policy, the most important aspect of the GENIUS Act is that it requires U.S.-domiciled issuers to maintain reserves backed on at least a one-to-one basis in safe and liquid US dollar–denominated assets.”
Federal Reserve Governor Stephen Miran says stablecoins may become a multi-trillion-dollar sector, impacting monetary policy and US debt demand.
cointelegraph.com
A one to one basis to the dollar?
We are moving towards a sovereign money system, where only the Treasury has the authority to create new money, and commercial banks would act solely as intermediaries without the power to create money through lending.
