The Weekly Peg: World wakes up to ‘dollarization by stablecoin’ effect
Plus, the Fed’s Stephen Miran on the impact of stablecoins on loanable funds and the ECB’s main markets man on why non-remuneration is a regulatory ‘original sin’.
Prepare for the return of certainty and capital intensity
Subscriber note: Reminder that we are now also operating on Substack. The details of the new plans are here. If you’re anything like me, you’re probably drowning in information overflow; overwhelmed by frictionless influencers vying for your attention; disoriented by the relentless pace of life; ready to throw up at the prospect of opening your […]