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News Link • Economy - Economics USA

GENIUS Act Becomes Law. Stablecoins Are a Tool for Financial Warfare and Land Grabs

• https://needtoknow.news, Redacted and Solari Repor

Trump signed the the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law. Stablecoins are a type of cryptocurrency that are backed by assets considered to be reliable such as a national currency.

US-dollar backed stable coins make US dollars easier to use globally, settle transactions faster, and record transactions on a blockchain ledger. Clayton Moore said that this is how Trump plans to keep the US as the world's reserve currency, not by printing more money, but by making the dollar more useful than anything else. There is much skepticism and Catherine Austin Fitts criticized stable coins early on, saying that they are a backdoor to central bank digital currency (CBDC). 

Fitts said that stablecoin is a way to turn on helicopter money like you have never seen it turned on before. She added, "the guys who control how that money flows can literally buy up the world." Mark Goodwin warned against the tokenization of real world assets, including land and nature. 

China has been dumping US treasuries, while Trump has been gunning for Jerome Powell at the Fed, and central bank digital currency (CBDC) was banned by Congress. Trump signed the the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law.

Catherine Austin Fitts criticized stable coins as a backdoor to CBDC. Here are a few short videos from Catherine Austin Fitts and Mark Goodwin:


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