The Weekly Peg: World wakes up to the ‘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 […]