Crypto Is Good for Tru*p but Bad for America

[usonian]

NYT, archived: https://archive.ph/uiVIq

https://www.nytimes.com/2025/05/23/opinion/trump-crypto-stablecoin.html

By Dan Davies and Henry J. Farrell

Like other "genius" moves, this appears to have the effect of isolating the US from the rest of the world, but also enriching its MAfia GAngster boss (MAGA)


Among other things in the article:

As part of the European Union’s program to build strategic autonomy — its term for weaning itself from dependence on America — the European Central Bank is working as fast as it can on building a digital euro. This would provide an entire alternative payment network. That would provide built-in privacy and security and, unlike stablecoins, would be controlled by the public sector.

In this case, stablecoins are not cementing dollar dominance by allowing the United States to catch up with the rest of the world. Instead, they may be incentivizing others’ efforts to get away. Europeans are not only building their escape route but also planning a global alternative to a U.S.-dominated system that seems ever less trustworthy.

The European Central Bank board member responsible for the digital euro has begun talking about the “possible international use” of a payment system that “respects the sovereignty of third countries, mitigates potential risks for them and offers them new opportunities.”

Stablecoins were supposed to leverage dollars to stabilize the chaotic universe of crypto. Instead, they seem set to infect the dollar-dominated financial system with the unique combined chaos of crypto and Mr. Trump.

Stablecoins? Like THESE stable coins?