Stablecoins

[TrumanCash]

US Senate Votes To Move Ahead With GENIUS Act; 'Legitimizing' Stablecoins For Global Institutional Adoption -- from Zerohedge

Will Stablecoins actually be stable?

"The GENIUS Act moved through a procedural vote on Monday (66-32), and has just passed its latest hurdle (69-31) allowing Senate Republican leaders to bring the legislation to the floor for debate and a final vote, as soon as this week.

"A challenging amendment pricess awaits as the Senate bill, if passed, would need to be reconciled with a version approved by the House Financial Services Committee, and then both chambers of Congress must agree on a single bill before sending a final version to President Donald Trump for his signature.

"There are still a lot of moving pieces," said Jennifer Schulp, director of financial regulation studies at the Cato Institute, a libertarian think tank.

"Republican Senator Cynthia Lummis, one of the bill’s key backers, said on May 15 that she thinks it’s a “fair target” to have the GENIUS Act passed by May 26 - Memorial Day in the US.

"As CoinTelegraph's Zoltan Vardai detailed ahead of the vote, stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector.

"After failing to gain support from key Democrats on May 8, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US Senate in a 66–32 procedural vote on May 20 and is now heading to a debate on the Senate floor.

"The bill seeks to set clear rules for stablecoin collateralization and mandate compliance with Anti-Money Laundering laws."

https://www.zerohedge.com/crypto/us-...ional-adoption

As a truth seeker I question just about everything. Investopedia defines Stablecoins as:

"Stablecoins are cryptocurrencies whose value is pegged, or tied, to that of another currency, commodity, or financial instrument. Stablecoins aim to provide an alternative to the high volatility of the most popular cryptocurrencies, including Bitcoin (BTC), which has made crypto investments less suitable for everyday transactions."

From my understanding currencies, commodities and financial instruments themselves are not stable and are manipulated. So how can Stablecoins be stable if they are pegged to these things?

I started this thread because I know there are people on this forum who understand the financial world much more than I do. I almost entitled this thread "Stablecoins for Dummies", I being one of them. So please enlighten me.

[Craig]

Quick check on what Nancy Pelosi is doing and follow her.....

[TrumanCash]

Stablecoins vs CBDC – US and EU Are on Different Paths to the Same Destination: Programmable Money

What Catherine Austin Fitts says about Stablecoin:

"If you know who controls all the stablecoins, it's basically the guys who own the New York Fed."

Source: https://youtube.com/watch?v=2vVe4x2DP1A

Catherine Austin Fitts compilation on stablecoins:

"Meet the new boss, same as the old boss"

https://rumble.com/v6scub5-worse-tha...rency.-fe.html

[Rawhide68]

For some reason always thought of "stablecoins" as to be used by horses for horses among horses.

Stable = a building set apart and adapted for keeping horses.
(Put or keep (a horse) in a stable.
they must be stabled and fed)

or maybe rather like this?

(Put or keep (a HUMAN) in a stable.
they must be stabled and fed)

A coin is a coin.

Maybe I have read too many Garry Larson comics
https://www.thefarside.com/

Cheers!

[TrumanCash]

Stablecoins Since 1789

1789 US Constitution:

"The Congress shall have power to coin Money." [Articel I, Section 8]

"No State shall make any Thing but gold and silver Coin a Tender in Payment of Debts." [Article I, Section 10]

1792 US Coinage Act: The Coinage Act of 1792 established a national mint located in Philadelphia. Congress chose decimal coinage in parts of 100, and set the U.S. dollar to the already familiar Spanish milled dollar and its fractional parts (half, quarter, eighth, sixteenth). This resulted in coins of the following metals and denominations:

Copper: half cent and cent
Silver: half dime, dime, quarter, half dollar, and dollar
Gold: quarter eagle ($2.50), half eagle ($5), and eagle ($10)

In 1792, during construction of the new Mint, 1,500 silver half dimes were made in the cellar of a nearby building. These half dimes were probably given out to dignitaries and friends and not released into circulation.

The Mint delivered the nation’s first circulating coins on March 1, 1793: 11,178 copper cents.

[IMPORTANT NOTE: Since only Congress has the power to coin money, President Trump has blantantly violated the US Constitution by ending the coinage of one cent coins. He has no authority do that. However, modern pennies have been devalued as they are made primarily of zinc, with only a copper coating comprising around 2.5% of the coin’s weight, i.e., not a stablecoin.]

In 1900, one ounce of gold could purchase a high-quality suit for $20-$30. Today, that same ounce still buys a high-quality suit, with a one ounce Gold Eagle coin now priced at over $4,000 from the US mint. While the suit itself hasn't changed in value, the purchasing power of the dollar has been drastically reduced through currency devaluation.

The last 100% copper pennies were minted in 1857.

BOTTOM LINE: The only real, tangible STABLECOINS:

[TrumanCash]

WE TOLD YOU SO: FRENCH JUSTICE MINISTER ON CASHLESSNESS by Joseph Farrell

Well, chalk this one down to another "we told you so". In this case, the "we" is Catherine Austin Fitts, myself, and a few other people, who have been trying to warn about the dangers of crypto-currency, "sovereign wealth funds", and so called cashless societies. In such a society, your "digital 'currency'" will be nothing more than a corporate coupon, and not a currency at all, in any traditional sense of the word. But the "why" of that may not be clear unless one dives into this significant story shared by V.T. (with our deep gratitude):

French Justice Minister Calls For Abolishment Of Cash And Public Facial Recognition To Stop Crime

Note what the article clearly states, and what the goal is:

France’s Justice Minister Gerald Darmanin earlier this week said during a hearing that he believes the abolishment of paper money replaced with digital currencies would cut down on crime and drug trafficking because it is much easier to trace the transactions, along with implementing public-wide facial recognition.

Darmanin said during a Senate hearing on Thursday that "a large part of the daily crime fraud, even criminal networks, are cash frauds." “I have told many times to those who interrogate me to know how we stop drugs in our neighborhoods. A fairly simple measure: the end of cash will prevent deal points," he said.

"Once money is traceable as cryptoassets […], it is more complicated for both the consumer and the reseller to be able to escape a financing circuit.” (Emphasis added)

Meanwhile, notice the implicit and never-stated flaw in the argument: crime will not be ended, it will now simply occur in that "cashless" world manipulated by the technocrat-criminal. They will be operating with complete immunity, and little to no oversight, behind the digital one-way mirror that they themselves have created. (This one-way mirror analogy has been a consistent and persistent illustration used by Catherine Austin Fitts in her explanations of the system they're trying to build. It's as accurate as it gets, along with her observation that what they're trying to build is a "beast system.") The point here is that the idea that such a system eliminates crime is merely their marketing gimmick to make the system seem palatable. The reality is that the system will not cut down on crime it all, it will merely make it even more endemic and systemic, because the system they are trying to build is itself the crime, for it is designed to rob and plunder you at the push of a button, and not just rob you of your assets, but of your most precious asset: your freedom and individuality.

So, again, say no to cashlessness, and use cash as much as possible. And above all, say no to those sovereign wealth funds that have "assets" in electronic blips on a screen: those can be taken out, too, at the push of a button, or an electromagnetic pulse, a solar flare, grid failure... You get the picture.

https://gizadeathstar.com/2025/05/we...-cashlessness/

[TrumanCash]

Tether USDT stablecoin seen on Bolivian store price tags

Tether CEO Paolo Ardoino shared images of Bolivian duty-free goods priced in USDt, suggesting the stablecoin's growing role as a reference currency in a struggling economy.

Tether CEO Paolo Ardoino has shared photos of goods in a Bolivian airport shop priced in the company’s stablecoin, USDt, suggesting growing unofficial use of the cryptocurrency amid the country’s ailing economy.

In a Saturday X post, Ardoino shared images of items being priced in USDt
USDT
$1.00
in Bolivia, including sunglasses and sweets. One photo showed a notice to customers that prices were set in USDT:

“Our products are priced in USDT (Tether), a stable cryptocurrency with a reference price informed daily by the Central Bank of Bolivia, based on the rate from Binance (a cryptocurrency trading platform),” the notice read.

The notice said customers could pay in either local fiat currency, Bolivianos, or US dollars. USDT was used to establish the dollar-Bolivianos exchange rate.

https://cointelegraph.com/news/tethe...-goods-bolivia

[Baby Steps]

I don't think stablecoins are stable or pegged to, for example the Dollar

What they do currently is they provide a liquid source of trustworthy crypto to allow entry into the space, purchase of other 'currencies' etc. When big buyers are getting into a coin, it seems that they start by buying stable coins, and companies like tether respond by minting billions more (a good lead indicator of pumps)

That's the mechanics - kind of.

What they ARE or are supposed to be is a tokenised fiat currency unit. Therefore for every tether coin, there should be a dollar held by tether as a kind of reserve. This assurance gives a tether coin its fixed value relative to the dollar. Therefore it functions like a Central bank digital currency.

Now if you ae a pro crypto Government like we see in the USA, and you are averse to minting CBDC's but you desire to develop your own nation as the pre-eminent crypto space, the issue with tokenised dollars is:

a) Regulate the proliferating stable coins to buttress the assurance that for every Stable coin there is a dollar
b) this plus other measures will act to drive global demand for dollars, which, shoring up the dollar, is a key policy priority.

Its making sense- as we still have to a large degree, if Greenland buys kerosine from China, it first acquires dollars to pay. That's the reserve currency and near universal trading medium. Of course this is being actively taken down by BRICs currently. With the proliferation of Stable coins, the dollar comes back from the dead as a kind of reserve master unit for crypto transactions.

If this is all correct one can infer that one would not invest in Stable coins as a strategy to make money, unless one thought that the dollar was a safe haven due to a turmoil of whatever type. One would instead see it as a slowly depreciating currency, that's useful for transactions, but not for savings. Any tradable commodity that 'only goes up' over time ends up being hoarded and not used to transact.

It could however drive dollar demand if various basket case economies end up using them simply to do business, enabled by the blockchain infrastructure, that is more trust worthy than basket case central banks.

[TrumanCash]

While the World Was Distracted by Epstein [Martin Armstrong exposes stablecoins in the Genius Act]

[The Genius Act was signed into law by Trump on July 18, 2025]

While the world was distracted by the Epstein debacle, legislators introduced the GENUIS Act that would permit the US government to regulate stablecoins. The GENUIS (Guiding and Establishing National Innovation for U.S. Stablecoins Act), primarily sponsored by Senator Bill Hagerty (R-Tennessee), permits the government to oversee, regulate, and define the $250 billion stablecoin market.

Now, stablecoins differ from cryptocurrencies as they are pegged to a stable asset such as a fiat currency or commodity. Cryptocurrencies are allegedly allowed to freely operate on the market based on supply and demand. The GENIUS Act will peg stablecoins to the US dollar and require issuers to maintain a 1:1 reserve ratio in short-term treasuries or cash.

Issuers holding over $10 billion in outstanding stablecoins will be subject to federal regulation under a newly created oversight agency. These issuers will now be deemed financial institutions and required to meet the traditional banking regulations as well. Stablecoins can no longer pay interest or act as an alternative to bonds. Perhaps most notably, issuers must not meet anti-money-laundering (AML) regulations, which are set to provide the government with unlimited access to payments.

[Margorie Taylor Greene: "I just voted NO on the Rule for the GENIUS Act because it does not include a ban on Central Bank Digital Currency and because Speaker Johnson did not allow us to submit amendments to the GENIUS Act. Americans do not want a government-controlled Central Bank Digital Currency. Republicans have a duty to ban CBDC. President Trump included a ban on CBDC in his January 23rd executive order and Congress must also include the ban on CBDC in the GENIUS Act." https://x.com/RepMTG/status/1945195703292092555]

So essentially, the government is turning the stablecoin into a digital dollar of sorts. The concern here is that this could delve into digitizing all currency and creating a CBDC. The act specifically provides the government with the authority to “block, freeze, and reject specific or impermissible transactions.”

“A permitted payment stablecoin issuer shall be treated as a financial institution [and]…shall be subject to all Federal laws applicable to a financial institution located in the United States including…policies and procedures to block, freeze, and reject specific or impermissible transactions that violate Federal or State
laws, rules, or regulations…”

This provision is not intended to protect the world against drug smugglers and thieves. This provision is intended to grant government unlimited control over how people spend stablecoins. The government could have easily frozen the accounts of those who refused the COVID-19 vaccination, for example, and the Biden Administration admittedly weaponized existing financial institutions to spy on Conservative Americans through their payment histories.

“Stablecoins are the bait and switch for direct-issued government CBDCs,” Bitcoin Magazine editor Mark Goodwin said, “Stablecoins can be programmed. Exactly like how we fear CBDCs will be programmed. They’re exactly the same tokenized mechanism… They can be taken out of your wallet. Your wallet can be blacklisted. A lot of the things that we fear about CBDCs are totally available within the tool set of Stablecoins.”

The GENIUS Act has received bipartisan support. Although Republican Hagerty championed the bill, he had bipartisan co-sponsors, including Senators Kirsten Gillibrand (D-NY), Angela Alsobrooks (D-MD), Tim Scott (R-SC), and Cynthia Lummis (R-WY).

I warned that governments would NEVER allow any cryptocurrency or stablecoin to compete with their own currency. I long warned that government was merely tolerating these alternative currencies in the past as they posed no real threat. But now the government needs the ability to tax everything to support its perpetual spending. Every digital transaction is traceable. Every digital currency is controllable—the ultimate power grab.

One of Donald Trump’s main campaign promises was the prevention of CBDC. The headlines are enraged over his failure to release the Epstein files, but the GENUIS Act is a far deeper betrayal of the American people that has the ability to usher in a new monetary system.

https://www.armstrongeconomics.com/a...ed-by-epstein/

[bojancan]

"First we overlook evil.. then we permit evil... then we legalize evil... then we promote evil... then we celebrate evil... then we persecute those who still call it evil." /Fr. Dwight Longenecke/


The Solari Report | Catherine Austin Fitts
62.2K subscribers

People View the USD As “Great Satan” and Stablecoins As Cool & Fashionable, They Are the Same Thing!

Source: https://youtube.com/watch?v=W9gkhhPUUUE

[ExomatrixTV]

• "Stablecoins" Are WORSE Than CBDCs! with Mark Goodwin:

Source: https://youtube.com/watch?v=HVofc4j9flE

CONVERSATION RECORDED JULY 17, 2025. House Republicans just celebrated their "Crypto Week" with the passage of an Anti-CBDC Surveillance State Act and the passage of a stablecoin-promoting GENIUS Act. And, whether you know it or not, this new stablecoin regulatory regime is going to transform your life and the entire global monetary order. Here today to fill us in on all the details is Mark Goodwin, co-author with Whitney Webb on a series of articles about this new blockchain regime and the powers-that-shouldn't-be who are behind it.

• corbettreport.com/interview-1964-stablecoins-are-worse-than-cbdcs-with-mark-goodwin

[TrumanCash]

Martin Armstrong Explains Stablecoins

Martin's stablecoin explanation starts about 3:10 into the video.

https://rumble.com/v6wem4o-100-chanc...armstrong.html

[onawah]

Trump’s New Digital Money Will Track, Seize, and Silence You
Kim Iversen
287K followers
Aug 13, 2025

"Mark Goodwin is the former editor in chief of Bitcoin Magazine and the author of The Bitcoin-Dollar: An Economic Monomyth (https://store.bitcoinmagazine.com/co...in-dollar-book). Find him at https://twitter.com/markgoodw_in. He is now a contributor to Whitney Webb's http://unlimitedhangout.com/. He joins the show today to discuss Cryptocurrency, Stable coins, the Paypal Mafia and Central Bank Digital Currencies."
https://rumble.com/v6xjk6g-trumps-ne...=Kim%20Iversen


Source: https://www.rumble.com/video/v6vcnxm/?pub=4

[Rawhide68]

I recomend this interview at the corbettreport channel, posted a few weeks ago that explained a lot.

Stablecoins Are WORSE Than CBDCs! with Mark Goodwin

Source: https://youtube.com/watch?v=HVofc4j9flE

DISCLAIMER
Sorry for posting this url. I just realised Exomatrix had posted it before.

My fault!
Since I'm unable to delete it, and I got some likes, I guess it's OK anyway