SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.75-0.5%Dec 3 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sun Tzu who wrote (115902)1/8/2024 1:03:33 PM
From: Real Man  Read Replies (1) of 116791
 
Not sure either. This is what you said:

#1 This could be a precursor to some states issuing their own money.

#2 Recognizing gold and silver as money removes stable coins from SEC oversight. This is a big deal.

#3 The combination of the above mean that one could legally issue currencies competing with the USD that can be used to pay taxes, debt, etc.

I don’t see how #1 can happen since states are barred from issuing their own money by the same US constitution which recognizes gold and silver as money.
I don’t see how it removes stable coins from sec oversight.
Since I don’t see #1 and #2, I don’t see #3, a combination of #1 and #2. #1 states are constitutionally barred from issuing their own currency
#2
Stable coins are crypto currencies tied to US dollar or other national currencies. Despite being tied to US dollar, these are NOT US dollar but are smart contracts on ethereum or another cryptocurrencies with smart contracts. Smart contracts blow up when the carrier crypto like Binance coin or ether blows up, so they should be regulated.

Blowing up is reflected in value of stable coins deviating from US dollar. I think a stable coin (TerraUSD on Luna) blowing up led to
crypto collapse that toppled FTX last year. FTX issued its own coin too and borrowed heavily using its “value”.
FTX did not physically sell customer assets. Just when customers withdrew crypto FTX could not pay because it’s own coin collapsed. This should be regulated.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News