STABLECOIN WARS
Stablecoins aren’t a crypto trend. They’re a monetary weapon.
If you manage capital, advise investors, or study global liquidity…this is the report you read before the narrative becomes consensus.
👉 Get Access to Stablecoin Wars + Empire by Code Now when you upgrade to our annual ($399/yr) level.
The Uncomfortable Truth Most “Stablecoin Coverage” Avoids
Most commentary treats stablecoins like payments tech.
But stablecoins are doing something much bigger:
They’re turning the U.S. dollar into programmable infrastructure...a new set of rails that can move value across borders faster than banks, outside legacy plumbing, and under a tightening perimeter of U.S. oversight.
That matters because money isn’t just a medium of exchange.
Money is sovereignty.
Money is seigniorage.
Money is control.
And stablecoins are quietly rearranging all three.
If you’re still thinking “de-dollarization,” you may be missing the trade
The mainstream macro story says the dollar is losing power.
This research forces a harder question:
What if the dollar isn’t weakening…but upgrading?
What if stablecoins are not the end of U.S. monetary dominance…but the next version of it?
If that’s true, it changes how you think about:
Dollar demand over the next decade.
Treasury market structure (especially the front end).
EM currency fragility and capital flight.
The future of cross-border settlement.
The real-world “reach” of U.S. financial policy.
This is why serious investors should care.
Not because stablecoins exist.
Because stablecoins can scale.
And if they scale under U.S.-friendly rules, the implications are not optional.
What Stablecoin Wars Actually Gives You…
This is a strategic framework for understanding stablecoins as geopolitical monetary infrastructure, not fintech.
You’ll walk away with a clearer model of:
How offshore dollar liquidity evolves when it moves onto programmable rails.
Why legacy systems like SWIFT created leverage...but never total control.
Why stablecoins can consolidate control in ways legacy banking cannot.
Why the “fiat vs fiat” hierarchy is the real game (and why the dollar still wins).
How regulation may formalize stablecoins as an extension of U.S. monetary power.
This is not a “quick read.”
It’s the kind of mental model that stays on your desk...because it changes how you interpret everything else.
Who this is for (and who it isn’t)
This is for:
Macro investors and strategists.
Funds allocating across FX / rates / sovereign risk.
Family offices thinking in regimes.
Professionals who need a structural edge...not headlines.
This is not for:
Meme-coin tourists.
“Crypto alpha” day traders.
Anyone looking for token picks.
If your job is to be early on structural shifts…this is your lane.
What Your Premium Membership Includes
When you upgrade your membership to the premium/annual ($399/yr) level today you receive:
Limited time access to our Stablecoin Wars report + Empire by Code. Access will close on March 4.
Ongoing articles between major releases.
Strategic analysis on capital flows, geopolitics, and monetary power.
The Macro Pilgrim’s Ledger weekly macro report.
Limited-time access to Pro-level reports (like this one) during quarterly promotions.
👉 Get Access Now Before This Offer Goes Away.
FREE Bonus Report: Empire by Code (Part One of the Series)
Most “bonuses” are fluff.
This one is foundational.
Empire by Code is where the framework begins...
the intellectual setup that Stablecoin Wars builds on.
It covers the deeper architecture behind the thesis:
Why money and power are inseparable.
How the Eurodollar system created global dollar dominance without full U.S. control.
Why SWIFT became a battleground for financial leverage.
Why stablecoins fuse private rails with sovereign authority.
Why a USD stablecoin can function as a stealth instrument of empire.
In other words:
If you read Stablecoin Wars without Empire by Code…
…you’ll understand the events.
But you’ll miss the full geometry of the system.
Professionals don’t pay for “information.”
They pay for frameworks that prevent costly misreads.
This is that framework.
And right now, you get it free. Access closes on March 4.
Get Both Reports Now
Time is limited
The window that matters is the period before the architecture is widely understood.
Once regulation and institutional adoption harden the rails:
The easy informational edge disappears.
Positioning becomes crowded.
The “obvious” narrative arrives after the repricing.
If you’re going to understand this shift, do it while it’s still asymmetric.
Here’s the Next Step
Upgrade to Premium today.
Your Welcome email will contain the private links to both reports.
👉 Upgrade here: https://research.santiagocapital.com/subscribe
If you’ve been following Brent’s work, you already know he does not chase noise.
When he commits this level of research to a subject, it’s because he believes professionals need to pay attention.
The question is simple:
Will you study the shift…
or wait until the market forces you to?
