ECONOMICS: The Wyoming stable token is the wrong direction; ND’s state bank is a better idea

Monday, September 2, 2024

https://a.tldrnewsletter.com/web-version?ep=1&lc=59038840-6904-11ee-b58c-ff3e3245800a&p=d6d820a0-6458-11ef-b2cb-45ae9ed9a73f&pt=campaign&t=1724760456&s=a4d4dc8d5599a4dfd9723c7b933879aee51bd33d73d67bdffb0cfe73c7647cc4

TLDR Crypto 2024-08-27

Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar 

Wyoming plans to launch the Wyoming stable token, a US-dollar-backed stablecoin, in Q1 2025. Its goal is to facilitate faster and cheaper transactions while introducing a new revenue stream for the state. The token will serve as a model for a federally digitized dollar, and the state will invest reserves into Treasury Bills to fund public schools. If successful, Wyoming hopes to expand to tokenizing other assets like commodities and real estate. 

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If WY is really interested in building up their State investing in US Treasury bonds is NOT a good long term strategy.  A better one would be to foster Wyoming businesses like ranches, farms, and homes with “friendly” financing for things whole within their State. The North Dakota bank is the exemplar of how to do it. All State, City, and local Gooferments can do their “banking” with the WY Bank and cut Wall Street out of the “supply train”.  By developing Wyoming’s financial infrastructure it can prepare for the hard times ahead.  Think local; act local.  #endthefed

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Posted by reinkefj

MONEY: USA “sanctions” spur tech solution to SWIFT

Thursday, July 11, 2024

FROM TLDR Crypto 2024-07-05

https://cryptoslate.com/russia-contemplating-permanently-legalizing-stablecoins-for-cross-border-payments/

Russian government considering legalizing stablecoins for cross-border payments (2 minute read)

  • Russia is considering regulating the entire transaction chain, from transferring these assets into the country to accumulating and utilizing them for cross-border payments.

Assad Jafri
Jul. 3, 2024 at 8:48 pm UTC
Updated: Jul. 3, 2024 at 8:48 pm UTC

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Russia is considering legalizing stablecoins for international transactions to improve cross-border payments and mitigate the effects of ongoing sanctions. The Russian Central Bank is looking to regulate the transaction chain from entry to utilization. Its initiative would primarily target facilitating transactions with BRICS countries effectively integrating stablecoins into the national framework for international settlements. 

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This is another nail in the coffin of the USA dollar and the SWIFT funds transfer system.

Our politicians and bureaucrats have really screwed the pooch this time.

Now assets will move bypassing and being transparent to the USA.

Good job, Guys.  Incentivize the rapid adoption of a competitive technology.

Argh!

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Posted by reinkefj