The Other 98%
First published at · By Barbara Sharp
If I were president and I wanted to tank the dollar and get rich off it, here is exactly what I would do. I would hire a Treasury Secretary who already made $3.5 billion crashing another country's currency. I would put my guy in charge of the agency that approves bank charters. I would install a crypto czar with $200M in crypto holdings and give him an ethics waiver so nobody could challenge it. Then I would sign an executive order banning the government from ever creating a digital dollar so there was no competition. Then I would have my family launch their own private digital dollar. My family takes 75% of net profits. I would grow it to $4.6 billion in circulation and route a $2 billion Abu Dhabi sovereign fund deal through it to prove it works. Then I would get Congress to pass a law requiring every stablecoin in the country to hold short-term Treasury bills. Now every dollar of my digital currency is a forced buyer of government debt. Brookings projects $2.3 trillion in captive demand by 2030. Then I would have my OCC guy grant my family's company a federal bank charter. Now I can issue my digital dollar with federal authority. Then I would have my Treasury Secretary weaken the actual dollar. Bond buybacks that suppress yields but tank the currency. Build a $950 billion war chest for more. Let the debt hit $40 trillion. Dollar index drops to 99. Gold goes to highest point ever. Then I would kill the Corporate Transparency Act and delete the FinCEN beneficial ownership database. That was the one law that required every shell company in America to report who actually owns it. Without it, nobody can trace who is buying my stablecoin, who is routing money through it, or where the profits land. Then I would let the loop run. Weaker dollar drives demand for "stable" digital alternatives. The law I passed forces those alternatives to buy T-bills. That funds the government's debt. My family takes profit on every transaction. Foreign central banks walking away from Tre…