Lanli|蓝犁道人
Lanli|蓝犁道人|Jun 15, 2025 20:28
The high efficiency of banks, in other words, low margin rates, is based on the central bank's role as the lender of last resort. The operation mode with low margin ratio carries great risks and is easily broken down, but with the guarantee of the central bank, this mode can only operate. What guarantee does the central bank have, of course, is the power to print money. So ultimately, banks are just a branch of the central bank, working together to complete the printing of money: the central bank prints base money, and banks amplify it with a money multiplier. Has stablecoin amplified currency? Stablecoins do not have a direct amplification effect, as current stablecoins are 100% collateralized. But the role of stablecoins is to enhance the use and application scenarios of currency, which directly affects the printing power. In other words, stablecoins play a role similar to petrodollars in maintaining the global currency status of the US dollar. Therefore, logically speaking, Dongda should also participate in the game of stablecoins. Of course, the currency of Dongda is currently not freely convertible and is still 18000 miles away from the world currency.
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