Trump, Big Tech & the Dollar: Varoufakis Analyzes
- A sense of unease permeated the recent Spring Meetings of the International Monetary Fund and the World Bank, as central bankers grappled with the emergence of two distinct...
- Adding to the anxiety is the GENIUS Act, a stablecoin bill gaining traction in the U.S.Congress.
The global financial landscape is shifting. Yanis Varoufakis analyzes the brewing battle between public and private money as two parallel monetary systems take shape, one backed by nations like China and India, the other by dollar-pegged stablecoins. Central bankers are watching closely, especially with the GENIUS Act gaining momentum, and President Trump’s recent executive order establishing a cryptocurrency reserve. This signals a considerable challenge to traditional monetary control. News Directory 3 offers insights into this developing situation. Discover what’s next for the dollar and the future of finance.
Parallel Monetary Systems Emerge Amid Stablecoin Bill
Updated June 01, 2025
A sense of unease permeated the recent Spring Meetings of the International Monetary Fund and the World Bank, as central bankers grappled with the emergence of two distinct monetary systems. One system is based on public monies issued by countries such as China and India, with the eurozone potentially joining. The other consists of private money,increasingly dominated by dollar-pegged stablecoins.
Adding to the anxiety is the GENIUS Act, a stablecoin bill gaining traction in the U.S.Congress. This follows President Donald Trump’s executive order on March 6 establishing a strategic cryptocurrency reserve, further fueling concerns about the future of monetary control and the rise of stablecoin.