There Is Something Worse Than the Eurodollar: Stablecoins
The threat that so-called “stablecoins” represent for bank credit, which we have long warned of, is becoming more and more concrete, leading both the “banking lobby” and central banks to sound the alarm. The latest to do so is the European Central Bank, via its chairwoman Christine Lagarde. Speaking at a Spanish central bank event on May 8, Mme Lagarde […]
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