It is my humble opinion (not financial advice) that the next financial crash will be spurred by crypto, particularly so-called “stablecoins”

Letting banks issue paper money that was supposed to represent a physical amount of stored gold led to banks issuing more paper than they had gold. Long story short, this mess led to the eventual establishment of modern day FIAT.

Now we are going to have financial institutions issue digital tokens that are supposed to represent a real stored amount of USD. You expect me to believe they won’t issue more tokens than they have USD?

Entrusting financial institutions who know the taxpayers will bail out any fraudulent activity is not a good plan.