🤑💸🔥 “Gold Rush: The US Dollar‘s Biggest Threat Yet!”
Oh dear, oh dear! It seems the good old US dollar is in a bit of a pickle! According to the delightfully dodgy Bitcoin maximalist, Max Keiser, gold-backed stablecoins are about to steal the show and leave the US dollar stablecoins in the dust!
Keiser claims that gold is the ultimate inflation-hedging superfood (yes, you read that right!), and that its minimum volatility makes it the perfect pairing for stablecoins. He’s also quite keen on the idea that governments of countries that don’t exactly see eye-to-eye with the US (cough, Russia, China, and Iran, cough) will be far more likely to go for the gold-backed stablecoin option.
“Russia, China, and Iran are not going to accept a US dollar stablecoin. I predict they will counter the USD stablecoin with a Gold one. China and Russia have a combined 50,000 tonnes of Gold — more than what is reported.”
But wait, there’s more! The potential for gold-backed stablecoins to outcompete dollar-pegged tokens in international markets would be a right old kerfuffle for US lawmakers who are trying to extend US dollar dominance through stablecoins. Oh dear, it seems the US dollar stablecoin gravy train might just come to an end!
Gold-backed stablecoins: the original promise of USD?
Tether, the rather shady stablecoin issuer, has launched a gold-backed stablecoin called Alloy (aUSD₮), backed by Tether’s XAU₮ — a token that provides a paper claim to physical gold. It’s a bit like a gold-backed coupon, but without the coupon part.
According to PointsVille founder and former VanEck executive Gabor Gurbacs, “Tether Gold is what the dollar used to be before 1971.” Ooh, that’s a rather ominous statement if you ask me!
“XAU₮ is up 15.7% year-to-date, while the broad crypto market is in the red. Foundations and businesses should hedge their holdings with XAU₮,” the executive wrote in a March 19 X post. Ah, it seems Gabor is rather keen on the idea of gold-backed stablecoins!
US policymakers have a different idea
But not everyone is convinced that gold-backed stablecoins are the way forward. United States Treasury Secretary Scott Bessent seems to think that the US dollar stablecoin regime is the way to go, and that it’ll help protect the dollar’s reserve currency status and ensure US dollar hegemony in global financial markets.
Speaking at the March 7 White House Crypto Summit, Bessent indicated that this stablecoin regime would be a top priority for the administration. Ah, it seems the US government is rather keen on the idea of maintaining its dollar dominance!
Federal Reserve governor Christopher Waller also voiced similar comments and expressed support for using stablecoins to prop up the US dollar. Ah, it seems the Fed is rather keen on the idea of keeping the dollar stable!
US lawmakers have also introduced several stablecoin bills to establish a comprehensive regulatory framework for tokenized fiat assets, including the Stable Act of 2025 and the GENIUS stablecoin bill. Ah, it seems the US government is rather keen on the idea of regulating stablecoins!
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2025-03-23 00:18