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Worsh, will it change everything?
Yesterday, Worsh was nominated for the head of the Federal Reserve.
It's funny because it doesn't really mean anything. Because lately, everyone has been paying close attention to the Fed, its actions regarding interest rates, inflation, and so on.
I believe that expectations about this person are exaggerated many times over, or they are simply using him to attract attention, nothing more.
A year ago, the Genius Act was passed, which is about allowing the printing of digital dollars, not by the Federal Reserve, but by fintech companies and banks. That is, the issuers of dollar printing will not be the Fed, but private banks and structures, in a way shifting responsibility. That’s why they distract with this circus around Worsh’s appointment, as well as earlier, when Trump accused Powell of sluggishness.
Through some simple manipulations, many people have left the crypto market over the past year, and they are unlikely to return. So, there is little attention paid to this market and to those bills regarding stablecoins. The main focus is on the Federal Reserve. Meanwhile, stablecoin issuers like Tether and Circle are overlooked. Therefore, it will be easier for them to launch unofficial digital dollar printing, which doesn’t attract much attention. And then they can do what they planned.
Printing digital currency is not a complicated process. A couple of clicks on a computer, and you can print even 20 trillion.
If the goal is to pay off the national debt, this scenario looks ideal, and the circus claiming that the old financial system is resisting might just be a show for spectators, pretending to defend traditional finance. But it’s also worth acknowledging that such a show could simply be a conflict of interest, with sides trying to grab a bigger piece of the pie.
Remember, those who control the financial system will never solve problems at their own expense. It’s easier for them to shift the burden of inflation and their incompetent policies onto the population. History remembers many such cases, multiple times. The collapse of the USSR and the devaluation of citizens’ savings, the transition from national currencies to the euro and others.