Written by Bryan Lutz, Editor at Dollarcollapse.com:
Every Sunday morning I sit down to write a few thoughts.
Sometimes these thoughts end up being about life, other times they are on gold, geopolitical issues affecting the markets, or the economy.
Here are three thoughts for this morning:
1. Trump knows how to work the media. After putting more pressure on Powell to resign over the last two weeks he decided to visit the over budget Eccles Building construction site with Powell. I wonder if the embarrassment will make him quit?
The hard hats are great ad in this one.
LMAO this is a comedy skit
— Tom (@TradingThomas3) July 24, 2025
What about the guy on the left?
The camera crew?
Anyway, a bit of comedy for you this Sunday.
Trump is a master at creating entertaining content for the media.
Especially, for things he wants changed.
Fortune reports:
Here’s how the Fed’s renovation budget ballooned to $2.5 billion
“The Federal Reserve’s renovation project is bogged down largely by invisible labor, preservation, raw material, and environmental costs, all of which have added to the ire directed towards Fed Chair Jerome Powell.
The Federal Reserve’s long-planned renovation of its Washington, D.C. headquarters has turned into a $2.5 billion political flashpoint.
Initially estimated at $1.9 billion in 2021, the cost of overhauling the Fed’s historic Marriner S. Eccles Building and its adjacent Federal Reserve East Building has jumped by over 30%, drawing fire from President Donald Trump and his allies, and raising questions about fiscal oversight at the nation’s central bank.”
If you’d like, here’s a slideshow of where the construction is at right now.
2. Sound money encourages saving and creates low-time preference trade-offs. It’s better for everyone in the end.
Here’s the thing about a financial system based on sound money.
It has very little inflation.
Any currency you own is only as good as the fractional amount of gold that backs it.
So there’s a limited supply of money.
That makes money harder to get.
The result is…
People tend save more money.
This teaches people through the necessity of monetary survival to value low-time preference activities.
For example, fulfillment over comfort, and regret over acting on fear.
These are the habits of today’s most wealthy.
They are low time preference people that value future rewards more than immediate gratification.
It is a trait often associated with discipline, patience, long-term planning, and a willingness to delay satisfaction in favor of greater benefits later.
If you’re on the other side choosing to live by fear and grasping for comfort
3. Stablecoins are not CBDCs, but they are fiat. Gresham’s Law tells us that they’ll drive more people to Bitcoin and Gold. Gold bugs need not worry.
What will stablecoins really do?
Matthew Piepenburg at Von Greyerz writes:
“Are stablecoins just CBDC by another name?
The answer is essentially: Yes.”
As much as I deeply respect Mr. Piepenburg…
No.
Stablecoins are not CBDCs.
CBDCs are tokens issued directly from the Federal Reserve, trackable, programmable and come with the ability to directly control what and where you spend your money.
Stablecoins are decentralized.
And, as far as I can tell, they can be issued even by corporations. Not just banks. It is possible to see where they are and who holds them and how much, but they are not a database of programmable tokens like CBDCs are.
However, they are still very much like the fiat US Dollar.
Backed by US Treasury Bonds, they’ll blow the USD’s money bubble even bigger and at that point who would want to hold on to them.
Gresham’s Law tells us:
“Bad money drives out the good money.”
Sure, stablecoins might circulate, but that only makes them less desirable.
With increased access to digital currencies, they’ll only drive more people to Bitcoin and Gold.
Have a great Sunday.
