Will Stable Coins And The GENIUS Act Cause The Fed To Change The US Monetary Framework And Crater Fed Liquidity?

Born In The USA, But Dancing in the Dark

The GENIUS Act is close. It will empower stable coins and re-establish America’s dynamism in fin-tech. Ironically, this move towards more ‘private sector’ monies could underpin a larger State. In a further twist, it could also mean lower Fed Liquidity. Consider, the GENIUS Act as an modern-day equivalent of the 1694 Charter for the Bank of England. This provided the means to finance the emerging eighteen century British State, not (yet) to establish a national central bank.