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Yanis Varoufakis and Wolfgang Munchau debunk the establishment consensus of the “battle” between the central banking establishment and the anti-establishment crypto rebels. They explore the fallacy of crypto and explain how its original democratic promise has been turned on its head and usurped by big finance to become its latest weapon for extracting rents. Are stablecoins just a new form of “subprime” bubble, and if so, does a financial crisis loom?
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