Visiting Berlin in 1983, its Wall was a stunning sight. All that effort, all that threatened violence, just to keep people from choosing to improve their lives. We tut-tutted about how sad it was for a government to make its population prisoners.
And yet, here we are in America building a new Berlin Wall around our banks to keep depositors from choosing to move their funds. In 2025, Congress passed the Genius Act, which prohibits interest payments by stablecoins, thereby preventing them from competing with the pittance of interest depositors receive from banks.
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