They love to bring up 1800s bank failures to scare you. But those banks weren’t free. They were forced to hold junk state bonds. They weren’t allowed to open branches. They had no way to clear notes with each other. The system was designed to break.
Real free banking actually worked. Look at Scotland. Look at Canada. Private money. No central bank. Notes traded at par. Failures were rare. Market incentives kept it honest. Governments shut it down because it worked too well.
Now we’ve got stablecoins. Post-GENIUS, they aren’t wildcat banks. They’re fully backed by short term treasurys and cash. They’re redeemable at par. They don’t lend. They’re transparent. Always on. Global. Digital-native. They fix the problems that crushed 19th century banking.
But don’t get it twisted. Stablecoins are still fiat. They’re just the best wrapper for a broken system. Better plumbing for melting ice.
The panic from central banks isn’t about failure. It’s about success. If dollars can circulate without the Fed behind them, then the monopoly is exposed. The myth dies. That’s what they fear.
Bitcoiners need to be clear. Stablecoins are tools. Temporary. They help route around the legacy system. They don’t replace it. They don’t end it. And they aren’t the future.
Bitcoin is the future. Bitcoin is final settlement. Bitcoin is freedom. Everything else is rented air.
Stablecoins may be the bridge. But Bitcoin is the destination.
