Mises is just another NGO-backed rag for econ larping tylenol babies with a net worth of 3 ounces of silver, absolutely clueless.

Stablecoins are not supply increasing on their own, the bills back hot currency lended by banks and others already. All they do is bypass banking infrastructure in foreign countries that artificially prop up their own local currencies.

I'd love to hear this muppet articulate how "gold backed stablecoins" are any different than margin against a gold ETF.

The lack of friction afforded by stablecoins abroad could increase velocity, but people generally only demand dollars to the extent they have liabilities in dollars, that leads to debt destruction (deflation) not inflation.

There will surely be a lot of supply inflation for a number of reasons, but stablecoins serve to slow the price inflation in dollar terms by drinking the milkshake of foreign currencies, not multiply the inflation.

We're watching a currency war play out that's been war-gamed for decades and these clowns have the hubris to think they found a blind spot, lol.