Why are cryptocurrencies (especially stablecoins) so important in the Bretton Woods System 3.0? The core interest behind this is the battle for control over the power to print money. Let me elaborate on this point and also respond to some comments accusing me of talking nonsense. Macroeconomics and politics are deeply intertwined. Observant people might recall that Trump has consistently opposed the digitization of the U.S. dollar, even going as far as pushing legislation to ban it, while simultaneously promoting stablecoins and digital currencies. Think about why. Since taking office, Trump has been pressuring the Federal Reserve, especially after Powell turned dovish. Even then, Trump continued to push for Cook’s resignation. To understand Trump’s actions, you need to deeply grasp his core interests. In my view, Trump’s agenda was never simply about lowering interest rates. His core interests can be summarized into three points: - Aggressive and sustained interest rate cuts to reduce the U.S. government’s interest expenses. - Having the Federal Reserve directly step in to buy bonds, solving liquidity issues and ensuring Trump’s administration has sufficient funds to "Make America Great Again" (MAGA). - The third and most critical point: the battle for control over the power to print money. Why is he so adamantly opposed to a digital dollar? Even if a digital dollar were created, the power to print money would still reside with the Federal Reserve, with the central bank. On the other hand, the digital currencies and stablecoins championed by Trump represent an entirely new entity, independent of the Federal Reserve. The characteristics of stablecoins can indirectly achieve the effect of printing money. This term’s Trump administration is far more mature than his first. Don’t be fooled by the chaos; his core goals have never changed. Recently, Benson has also started criticizing the Federal Reserve. In my view, the internal battle over the power to print money in the U.S. is heating up and reaching a boiling point. Cryptocurrencies can achieve the effect of printing money domestically while maintaining the dominance of the U.S. dollar internationally. Of course, this is a crucial part of the Bretton Woods System 3.0. Did you really think the stablecoin legislation was just about pleasing the crypto community?