Replying to Avatar L0la L33tz

https://m.primal.net/PmjP.mov

"With the Dollar backed stablecoins, you'll help expand the dominance of the US Dollar [...] It will be at the top, and that's where we want to keep it"

What he means is:

with Dollar backed stablecoins, the Global South will pivot towards digital Dollars over local currencies, allowing private, US Gov controlled entities to replace bank accounts around the globe.

This does not just allow for the expansion of USD dominance by bypassing local governments – it gives the US unprecedented and direct control over worldwide economies as every stablecoin can be effectively frozen on behalf of the US with the click of a button.

Additionally, it will provide the US with never seen before surveillance capabilities, providing real time access to financial transactions around the globe – fueling the unparalleled public-private partnership between Silicon Valley and the US war machine.

If you are promoting stablecoins, you are promoting the end of national sovereignty in favor of total techno-fascist dystopia.

(Only adding a counterpoint to the post, not trying to cope with the main idea. CBDC bad, no matter the issuer)

I would rather use dollar backed currency than the shitcoin enforced by our local govt. It lost > 80℅ of its value since 1988 and is completely centrilized around an oligopolistic elite that will freeze your bank account just for saying mean things about their puppet on power.

Although it has many problems, the US is light years ahead of us in terms of institutional stability.

As someone in the global south: orange coin >>>>> USD >>>> BRL

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