Stablecoins versus The Power to Tax

Yes, the old saying is true: The power to tax is the power to destroy.

But you know what else the power to tax is? It’s the power to run a decent monetary policy.

If you’re looking for a monetary system that offers low, stable rates of inflation, you’ll be looking for a system that has both a stable supply of money and a stable demand for that same money. You need both for stability—not just one. And a government’s power to tax—to use the threat of force to extract wealth from a nation’s citizens—can help solve both problems.