Tetragrammaton with Rick Rubin Tyler Cowen
357 snips
Oct 15, 2025 
Economist Tyler Cowen discusses the nuances of stablecoins and the impact of the European Central Bank's regulations. He contrasts Bitcoin with stablecoins while addressing concerns around Tether's transparency. Cowen examines the intertwining of AI and shadow banking, highlighting how tech firms finance massive projects. He critiques the traditional educational system, emphasizing the value of real-world learning, and reflects on the rising importance of oral culture amidst declining reading habits.
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Stablecoins Will Mainstream Dollar On-Chain
- Stablecoins are becoming digital representations of the US dollar and could mainstream dollar use on-chain.
- That shift reshapes global liquidity and raises regulatory trust and enforcement as central concerns.
Embrace Stablecoin Experimentation
- Embrace stablecoin innovation despite risks to encourage competition and alternatives to an inefficient banking system.
- Accept some short-term pain for potential long-term gains in payments and cross-border finance.
Stablecoins Could Drain Traditional Bank Funds
- Legal rules that bar banks from issuing stablecoins could shift deposits into nonbank intermediaries.
- That migration risks destabilizing banks and liquidity if it happens quickly.
