The following item is appears in this week’s EIR Strategic Alert Service, no. 25, published in Germany.
One more step toward the legislation that will deliver the final blow to the U.S. dollar was taken on June 10, when two Commissions of the United States Congress voted up the CLARITY Act, which overlaps the GENIUS Act (cf. SAS 22, 23/25). The two will now be merged and go to a vote on the floor. [Indeed, the Senate voted up the GENIUS Act 68:30 on June 17—ed].
President Trump recently threatened with nothing less than war those countries that dared adopt “de-dollarization,” thus undermining the role of the U.S. dollar as world reserve currency. But if he is worried about de-dollarization, why is he endorsing a plot by top vulture funds and speculators to do just that, i.e., to replace the dollar as world reserve currency? Just consider what happened on June 12 in New York City, at the “State of Crypto” summit organized by the largest platform of cryptocurrency trading, Coinbase, to which Trump sent not only his “crypto” envoy David Sacks, but also a personal video message.
Bitcoin could actually end up being “the new reserve currency of the world,” Coinbase founder and manager Brian Armstrong said at that meeting. He explained that with the legalization of stablecoins, which the two bills in Congress are supposed to implement, government fiscal policy will be policed by hot money, ready to flee in case of over indebtedness or overspending.
