Based on the new info from Catherine Fitts, the main 'project' right now for the finance oligarchy (the apex of which is the BIS / Bank for Intl Settlelments) is getting the 'dollar stablecoin' in place and operational. Time is of the essence for the US since BRICS is going full speed with their own digital payments system. The dollar system has a big advantage of already being the entrenched legacy system for the world, but the 'dollar stablecoin' scheme needs to get moving ASAP.
Fitts explains how once in place, the huge credit that can be offered to countries will be irresistable, thus ensuring they stay with the dollar, and over time they'll also start using the dollar stablecoin for domestic spending instead of their own curencies. With the dollar stablecoin, the huge flow of credit it makes possible means the dollar can remain the dominant reserve and trade currency for the world. But it has to become available before the BRICS equivalent can gain traction.
In addition to saving the global dollar reserve system, the new 'stablecoin dollar' paradigm solves the fiscal deficit problem. Fitts explains that while the central banks control monetary policy (% rates, money supply, etc), they don't control fiscal policy (spending, taxing), which is the purview Congress. But once in place, the dollar stablecoin system gives the central bankers fiscal control over a country's spending. They can add or remove money from accounts at will, raise or lower taxes, freeze and unfreeze accounts, determine how much can be spent, etc. If they need to bring the 2 tril/year deficit down, they just tweak the amount as needed. So the dollar stablecoin system 1) keeps the dollar as the world's reserve currency, and 2) gets the deficits under control and de-fuses the debt bomb.
That's the 'good' side, but here's the bad (next post).
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