Housekeeping: Presented two ways: Accessible podcast (recorded at 3am, excuse the vocals) , and slightly more formal written version below. What looks like a debate about Stablecoin vs. CBDC is really a global struggle for control
TL; DR
Stablecoins vs CBDCs is a proxy war over global payment rails.
BRICS bans on stablecoins are designed to block dollar penetration and accelerate monetary multipolarity.
The U.S. is turning to stablecoins as a defensive tool to preserve reserve-currency reach without adopting a CBDC.
Opinion: A mercantilist system is re-emerging, splitting money into 2 types: domestic and international.
