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#financialstability

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Paul Krugman reveals a troubling truth: cryptocurrency is entwined with DC corruption. In "Digital Corruption Takes Over DC," he critiques the GENIUS Act's potential to legitimize stablecoins, which, despite initial innovation, now enable gambling and shady dealings. Krugman warns of the risks they pose, likening their rise to the unregulated banks of the past that could trigger financial crises. Explore his insights on a Washington influenced by financial interests. Read more: paulkrugman.substack.com/p/dig #Cryptocurrency #Corruption #Stablecoins #FinancialStability #PaulKrugman

Paul Krugman · Digital Corruption Takes Over DCBy Paul Krugman
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"The world’s #FinancialStability watchdog has warned that disasters caused by #ClimateChange are increasingly likely to trigger broader panic in financial markets.

“There could also be an abrupt, broad-based repricing of climate-physical risk, as the expectation of larger future losses are incorporated into current prices and impact sectors and jurisdictions not currently directly affected by disasters.” "

ft.com/content/c907d5f7-1a85-4

Financial Times · Top financial watchdog warns climate change set to trigger market panicsBy Lee Harris

Central banks should be fighting the #climate crisis – here’s why

"Our recent research points out that their policies have been slowing down – rather than speeding up – transformative climate action. The problem is these banks focus on #FinancialStability in the near term, which means propping up a status quo which promotes further climate instability. And that means they are making things more unstable in the long term."

theconversation.com/central-ba

The ConversationCentral banks should be fighting the climate crisis – here's whyA focus on economic stability in the near-term makes the climate crisis worse in the long-term.