{"id":29231,"date":"2026-10-20T11:32:00","date_gmt":"2026-10-20T19:32:00","guid":{"rendered":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/?p=29231"},"modified":"2026-10-21T05:50:56","modified_gmt":"2026-10-21T13:50:56","slug":"the-new-confederacy-of-money","status":"publish","type":"post","link":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/29231","title":{"rendered":"THE NEW CONFEDERACY OF MONEY"},"content":{"rendered":"<script type=\"text\/javascript\"> var words29231 = [\"How\",\"Stablecoins\",\"Became\",\"the\",\"Oligarchs\",\"Path\",\"Back\",\"to\",\"a\",\"Pre\",\"Civil\",\"War\",\"America\",\"I\",\"The\",\"Return\",\"of\",\"an\",\"Old\",\"Dream\",\"In\",\"the\",\"decades\",\"following\",\"the\",\"Civil\",\"War\",\"the\",\"United\",\"States\",\"embraced\",\"a\",\"foundational\",\"democratic\",\"principle\",\"one\",\"person\",\"one\",\"vote\",\"backed\",\"by\",\"a\",\"federal\",\"monetary\",\"system\",\"capable\",\"of\",\"disciplining\",\"bad\",\"actors\",\"through\",\"banking\",\"regulation\",\"Treasury\",\"control\",\"and\",\"when\",\"necessary\",\"freezing\",\"accounts\",\"This\",\"architecture\",\"enabled\",\"the\",\"rise\",\"of\",\"the\",\"petrodollar\",\"a\",\"system\",\"in\",\"which\",\"global\",\"oil\",\"pricing\",\"in\",\"dollars\",\"reinforced\",\"U\",\"S\",\"financial\",\"dominance\",\"and\",\"allowed\",\"the\",\"government\",\"to\",\"impose\",\"sanctions\",\"by\",\"restricting\",\"access\",\"to\",\"dollar\",\"clearing\",\"networks\",\"Background\",\"on\",\"the\",\"petrodollar\",\"Investopedia\",\"Today\",\"a\",\"new\",\"class\",\"of\",\"American\",\"oligarchs\",\"crypto\",\"billionaires\",\"venture\",\"capital\",\"ideologues\",\"and\",\"techno\",\"libertarian\",\"political\",\"donors\",\"are\",\"openly\",\"challenging\",\"that\",\"post\",\"Civil\",\"War\",\"settlement\",\"Their\",\"preferred\",\"tool\",\"is\",\"not\",\"the\",\"ballot\",\"box\",\"or\",\"the\",\"traditional\",\"party\",\"system\",\"It\",\"is\",\"the\",\"privately\",\"controlled\",\"e\",\"coin\",\"stablecoins\",\"tokenized\",\"dollars\",\"and\",\"blockchain\",\"based\",\"financial\",\"rails\",\"that\",\"operate\",\"outside\",\"the\",\"Federal\",\"Reserve\",\"s\",\"reach\",\"Overview\",\"of\",\"stablecoins\",\"Federal\",\"Reserve\",\"analysis\",\"Their\",\"goal\",\"stated\",\"in\",\"podcasts\",\"investor\",\"letters\",\"and\",\"political\",\"projects\",\"is\",\"a\",\"return\",\"to\",\"a\",\"police\",\"state\",\"model\",\"of\",\"governance\",\"reminiscent\",\"of\",\"the\",\"Confederacy\",\"rule\",\"by\",\"property\",\"not\",\"citizenship\",\"exit\",\"over\",\"voice\",\"private\",\"enforcement\",\"over\",\"public\",\"law\",\"and\",\"a\",\"monetary\",\"system\",\"controlled\",\"by\",\"private\",\"elites\",\"rather\",\"than\",\"democratic\",\"institutions\",\"II\",\"The\",\"Oligarchic\",\"Theory\",\"of\",\"Money\",\"One\",\"vote\",\"per\",\"citizen\",\"is\",\"obsolete\",\"Several\",\"prominent\",\"crypto\",\"billionaires\",\"have\",\"argued\",\"that\",\"democracy\",\"should\",\"evolve\",\"toward\",\"capital\",\"weighted\",\"voting\",\"where\",\"those\",\"with\",\"more\",\"digital\",\"wealth\",\"have\",\"more\",\"political\",\"power\",\"Ex&les\",\"of\",\"this\",\"ideology\",\"appear\",\"in\",\"writings\",\"by\",\"influential\",\"crypto\",\"investors\",\"such\",\"as\",\"Balaji\",\"Srinivasan\",\"who\",\"promotes\",\"network\",\"state\",\"governance\",\"The\",\"Network\",\"State\",\"and\",\"in\",\"public\",\"comments\",\"by\",\"venture\",\"capitalists\",\"who\",\"argue\",\"for\",\"exit\",\"over\",\"voice\",\"as\",\"a\",\"political\",\"model\",\"This\",\"worldview\",\"aligns\",\"closely\",\"with\",\"the\",\"antebellum\",\"South\",\"s\",\"political\",\"structure\",\"where\",\"property\",\"ownership\",\"determined\",\"political\",\"power\",\"and\",\"private\",\"militias\",\"enforced\",\"order\",\"Stablecoins\",\"as\",\"the\",\"new\",\"plantation\",\"currency\",\"Stablecoins\",\"are\",\"not\",\"government\",\"money\",\"They\",\"are\",\"private\",\"dollars\",\"issued\",\"by\",\"corporations\",\"backed\",\"by\",\"Treasuries\",\"and\",\"governed\",\"by\",\"terms\",\"of\",\"service\",\"rather\",\"than\",\"constitutional\",\"law\",\"Ex&le\",\"Circle\",\"s\",\"USDC\",\"terms\",\"of\",\"service\",\"Circle\",\"Legal\",\"This\",\"means\",\"oligarchs\",\"control\",\"issuance\",\"oligarchs\",\"control\",\"access\",\"oligarchs\",\"control\",\"surveillance\",\"oligarchs\",\"control\",\"sanctions\",\"The\",\"U\",\"S\",\"government\",\"can\",\"freeze\",\"a\",\"bank\",\"account\",\"It\",\"cannot\",\"freeze\",\"a\",\"blockchain\",\"wallet\",\"This\",\"is\",\"the\",\"core\",\"of\",\"the\",\"oligarchic\",\"project\",\"privatize\",\"the\",\"dollar\",\"privatize\",\"monetary\",\"policy\",\"privatize\",\"punishment\",\"III\",\"The\",\"Petrodollar\",\"Meets\",\"the\",\"Cryptodollar\",\"For\",\"fifty\",\"years\",\"the\",\"petrodollar\",\"system\",\"gave\",\"the\",\"U\",\"S\",\"unmatched\",\"geopolitical\",\"leverage\",\"Oil\",\"was\",\"priced\",\"in\",\"dollars\",\"global\",\"reserves\",\"were\",\"held\",\"in\",\"Treasuries\",\"sanctions\",\"could\",\"cripple\",\"adversaries\",\"by\",\"cutting\",\"them\",\"off\",\"from\",\"dollar\",\"clearing\",\"Background\",\"Council\",\"on\",\"Foreign\",\"Relations\",\"U\",\"S\",\"sanctions\",\"Stablecoins\",\"complicate\",\"this\",\"Stablecoins\",\"strengthen\",\"the\",\"dollar\",\"s\",\"reach\",\"They\",\"make\",\"the\",\"dollar\",\"ubiquitous\",\"in\",\"crypto\",\"markets\",\"emerging\",\"economies\",\"and\",\"cross\",\"border\",\"commerce\",\"But\",\"they\",\"weaken\",\"the\",\"government\",\"s\",\"control\",\"Dollar\",\"reach\",\"expands\",\"Dollar\",\"governance\",\"contracts\",\"This\",\"is\",\"exactly\",\"what\",\"oligarchs\",\"want\",\"a\",\"dollar\",\"that\",\"is\",\"powerful\",\"globally\",\"but\",\"controlled\",\"privately\",\"The\",\"Fed\",\"s\",\"dilemma\",\"The\",\"Federal\",\"Reserve\",\"must\",\"now\",\"defend\",\"Treasury\",\"demand\",\"manage\",\"liquidity\",\"and\",\"maintain\",\"monetary\",\"stability\",\"in\",\"a\",\"world\",\"where\",\"private\",\"issuers\",\"not\",\"the\",\"central\",\"bank\",\"create\",\"digital\",\"dollars\",\"Fed\",\"discussion\",\"Federal\",\"Reserve\",\"Publications\",\"This\",\"is\",\"a\",\"reversal\",\"of\",\"the\",\"post\",\"Civil\",\"War\",\"monetary\",\"order\",\"IV\",\"Freedom\",\"Cities\",\"HOAs\",\"and\",\"the\",\"Vote\",\"By\",\"Exit\",\"Movement\",\"The\",\"political\",\"wing\",\"of\",\"this\",\"ideology\",\"is\",\"the\",\"vote\",\"by\",\"exit\",\"model\",\"Freedom\",\"Cities\",\"private\",\"HOAs\",\"gated\",\"communities\",\"membership\",\"based\",\"micro\",\"polities\",\"private\",\"clubs\",\"with\",\"their\",\"own\",\"rules\",\"currencies\",\"and\",\"enforcement\",\"In\",\"these\",\"systems\",\"citizenship\",\"is\",\"replaced\",\"by\",\"membership\",\"and\",\"membership\",\"is\",\"controlled\",\"by\",\"wealth\",\"This\",\"is\",\"not\",\"democracy\",\"It\",\"is\",\"a\",\"return\",\"to\",\"property\",\"based\",\"governance\",\"the\",\"core\",\"political\",\"structure\",\"of\",\"the\",\"Confederacy\",\"Stablecoins\",\"are\",\"the\",\"monetary\",\"layer\",\"that\",\"makes\",\"this\",\"possible\",\"V\",\"The\",\"Threat\",\"to\",\"Post\",\"Civil\",\"War\",\"Democracy\",\"The\",\"U\",\"S\",\"loses\",\"its\",\"ability\",\"to\",\"punish\",\"bad\",\"actors\",\"worldwide\",\"If\",\"stablecoins\",\"replace\",\"bank\",\"based\",\"dollars\",\"the\",\"U\",\"S\",\"loses\",\"the\",\"ability\",\"to\",\"freeze\",\"accounts\",\"enforce\",\"sanctions\",\"and\",\"regulate\",\"global\",\"flows\",\"Monetary\",\"policy\",\"becomes\",\"privatized\",\"The\",\"Fed\",\"becomes\",\"a\",\"spectator\",\"while\",\"private\",\"issuers\",\"determine\",\"digital\",\"dollar\",\"supply\",\"Democratic\",\"accountability\",\"erodes\",\"When\",\"money\",\"is\",\"governed\",\"by\",\"corporations\",\"not\",\"Congress\",\"citizens\",\"lose\",\"control\",\"over\",\"the\",\"most\",\"powerful\",\"tool\",\"of\",\"national\",\"policy\",\"The\",\"American\",\"Dream\",\"fractures\",\"The\",\"promise\",\"that\",\"any\",\"citizen\",\"can\",\"participate\",\"equally\",\"in\",\"the\",\"economy\",\"and\",\"democracy\",\"is\",\"replaced\",\"by\",\"a\",\"system\",\"where\",\"wealth\",\"buys\",\"votes\",\"private\",\"cities\",\"replace\",\"public\",\"ones\",\"private\",\"currencies\",\"replace\",\"public\",\"money\",\"private\",\"enforcement\",\"replaces\",\"public\",\"law\",\"This\",\"is\",\"not\",\"the\",\"American\",\"Dream\",\"It\",\"is\",\"the\",\"Confederate\",\"Dream\",\"rebuilt\",\"with\",\"blockchains\",\"instead\",\"of\",\"plantations\",\"VI\",\"Conclusion\",\"The\",\"American\",\"Dream\",\"at\",\"a\",\"Crossroads\",\"Stablecoins\",\"have\",\"expanded\",\"the\",\"dollar\",\"s\",\"reach\",\"but\",\"empowered\",\"oligarchs\",\"who\",\"openly\",\"reject\",\"one\",\"person\",\"one\",\"vote\",\"democracy\",\"They\",\"have\",\"weakened\",\"the\",\"government\",\"s\",\"ability\",\"to\",\"punish\",\"bad\",\"actors\",\"undermined\",\"the\",\"post\",\"Civil\",\"War\",\"monetary\",\"order\",\"and\",\"accelerated\",\"a\",\"shift\",\"toward\",\"private\",\"governance\",\"private\",\"enforcement\",\"and\",\"private\",\"money\",\"If\",\"the\",\"U\",\"S\",\"eventually\",\"introduces\",\"an\",\"e\",\"dollar\",\"it\",\"may\",\"restore\",\"democratic\",\"control\",\"over\",\"digital\",\"currency\",\"But\",\"the\",\"longer\",\"stablecoins\",\"dominate\",\"the\",\"more\",\"entrenched\",\"oligarchic\",\"monetary\",\"power\",\"becomes\",\"and\",\"the\",\"harder\",\"it\",\"will\",\"be\",\"to\",\"reclaim\",\"The\",\"American\",\"Dream\",\"was\",\"built\",\"on\",\"the\",\"idea\",\"that\",\"citizens\",\"not\",\"oligarchs\",\"shape\",\"the\",\"nation\",\"s\",\"future\",\"Stablecoins\",\"test\",\"whether\",\"that\",\"dream\",\"still\",\"holds\",\"Top\",\"vs\",\"Bottom\",\"Why\",\"Texas\",\"Needs\",\"a\",\"Different\",\"Kind\",\"of\",\"Politics\",\"The\",\"Real\",\"Divide\",\"in\",\"America\",\"Is\",\"Not\",\"Left\",\"vs\",\"Right\",\"Texas\",\"State\",\"RepresentativeJames\",\"Talaricohas\",\"advanced\",\"an\",\"argument\",\"that\",\"is\",\"resonating\",\"far\",\"beyond\",\"traditional\",\"partisan\",\"lines\",\"the\",\"central\",\"conflict\",\"in\",\"American\",\"politics\",\"is\",\"no\",\"longer\",\"left\",\"versus\",\"right\",\"buttop\",\"versus\",\"bottom\",\"According\",\"to\",\"Talarico\",\"the\",\"people\",\"struggling\",\"with\",\"housing\",\"costs\",\"utility\",\"bills\",\"food\",\"prices\",\"fuel\",\"costs\",\"and\",\"healthcare\",\"are\",\"not\",\"primarily\",\"divided\",\"by\",\"party\",\"affiliation\",\"Instead\",\"they\",\"are\",\"increasingly\",\"united\",\"by\",\"a\",\"common\",\"frustration\",\"that\",\"government\",\"often\",\"appears\",\"more\",\"responsive\",\"to\",\"large\",\"donors\",\"billionaires\",\"and\",\"powerful\",\"interests\",\"than\",\"to\",\"ordinary\",\"citizens\",\"In\",\"this\",\"framework\",\"the\",\"top\",\"consists\",\"of\",\"billionaires\",\"major\",\"political\",\"donors\",\"large\",\"corporations\",\"lobbyists\",\"and\",\"the\",\"political\",\"establishment\",\"The\",\"bottom\",\"includes\",\"teachers\",\"truck\",\"drivers\",\"retirees\",\"farmers\",\"small\",\"business\",\"owners\",\"first\",\"responders\",\"and\",\"working\",\"families\",\"who\",\"bear\",\"the\",\"consequences\",\"of\",\"public\",\"policy\",\"decisions\",\"Talarico\",\"argues\",\"that\",\"America\",\"s\",\"affordability\",\"crisis\",\"is\",\"at\",\"its\",\"core\",\"a\",\"corruption\",\"crisis\",\"Government\",\"he\",\"contends\",\"increasingly\",\"serves\",\"concentrated\",\"wealth\",\"rather\",\"than\",\"the\",\"public\",\"interest\",\"The\",\"Billionaire\",\"Class\",\"and\",\"Political\",\"Influence\",\"Few\",\"individuals\",\"better\",\"symbolize\",\"economic\",\"influence\",\"thanElon\",\"Musk\",\"As\",\"one\",\"of\",\"the\",\"world\",\"s\",\"wealthiest\",\"individuals\",\"Musk\",\"s\",\"financial\",\"and\",\"political\",\"influence\",\"illustrates\",\"Talarico\",\"s\",\"broader\",\"argument\",\"that\",\"a\",\"small\",\"number\",\"of\",\"people\",\"possess\",\"extraordinary\",\"power\",\"to\",\"shape\",\"public\",\"debate\",\"political\",\"c&aigns\",\"and\",\"public\",\"policy\",\"Likewise\",\"Texas\",\"has\",\"long\",\"been\",\"home\",\"to\",\"influential\",\"energy\",\"interests\",\"Among\",\"the\",\"best\",\"known\",\"isJerry\",\"Jones\",\"owner\",\"of\",\"the\",\"Dallas\",\"Cowboys\",\"and\",\"a\",\"major\",\"figure\",\"in\",\"the\",\"energy\",\"sector\",\"through\",\"family\",\"interests\",\"associated\",\"with\",\"Comstock\",\"Resources\",\"and\",\"natural\",\"gas\",\"production\",\"The\",\"issue\",\"is\",\"not\",\"whether\",\"these\",\"individuals\",\"have\",\"succeeded\",\"The\",\"issue\",\"raised\",\"by\",\"Talarico\",\"is\",\"whether\",\"the\",\"political\",\"system\",\"disproportionately\",\"reflects\",\"the\",\"interests\",\"of\",\"those\",\"at\",\"the\",\"top\",\"while\",\"ordinary\",\"Texans\",\"face\",\"rising\",\"costs\",\"and\",\"diminished\",\"influence\",\"Winter\",\"Storm\",\"Uri\",\"A\",\"Case\",\"Study\",\"The\",\"2021\",\"Texas\",\"power\",\"crisis\",\"remains\",\"one\",\"of\",\"the\",\"most\",\"devastating\",\"public\",\"policy\",\"failures\",\"in\",\"state\",\"history\",\"During\",\"Winter\",\"Storm\",\"Uri\",\"millions\",\"of\",\"Texans\",\"lost\",\"power\",\"and\",\"heat\",\"Investigations\",\"found\",\"failures\",\"across\",\"electric\",\"generation\",\"natural\",\"gas\",\"supply\",\"weatherization\",\"grid\",\"operations\",\"and\",\"emergency\",\"planning\",\"More\",\"than\",\"4\",\"5\",\"million\",\"homes\",\"lost\",\"power\",\"during\",\"the\",\"emergency\",\"The\",\"official\",\"investigations\",\"didnotassign\",\"responsibility\",\"to\",\"any\",\"single\",\"person\",\"or\",\"company\",\"Rather\",\"they\",\"described\",\"a\",\"system\",\"wide\",\"failure\",\"involving\",\"multiple\",\"market\",\"participants\",\"regulators\",\"and\",\"infrastructure\",\"weaknesses\",\"Yet\",\"many\",\"Texans\",\"were\",\"left\",\"asking\",\"a\",\"broader\",\"question\",\"Why\",\"did\",\"ordinary\",\"families\",\"suffer\",\"freezing\",\"homes\",\"astronomical\",\"energy\",\"bills\",\"and\",\"tragic\",\"loss\",\"of\",\"life\",\"while\",\"major\",\"energy\",\"interests\",\"remained\",\"financially\",\"protected?\",\"That\",\"question\",\"lies\",\"at\",\"the\",\"heart\",\"of\",\"the\",\"top\",\"versus\",\"bottom\",\"debate\",\"Accountability\",\"and\",\"Texas\",\"Law\",\"One\",\"of\",\"the\",\"least\",\"discussed\",\"aspects\",\"of\",\"the\",\"Texas\",\"power\",\"crisis\",\"involves\",\"legal\",\"accountability\",\"In\",\"2023\",\"the\",\"Texas\",\"Supreme\",\"Court\",\"ruled\",\"that\",\"ERCOT\",\"the\",\"organization\",\"responsible\",\"for\",\"managing\",\"most\",\"of\",\"Texas\",\"s\",\"electric\",\"grid\",\"is\",\"protected\",\"by\",\"sovereign\",\"immunity\",\"and\",\"cannot\",\"generally\",\"be\",\"sued\",\"for\",\"damages\",\"related\",\"to\",\"grid\",\"failures\",\"during\",\"the\",\"2021\",\"storm\",\"The\",\"court\",\"held\",\"that\",\"accountability\",\"for\",\"ERCOT\",\"s\",\"actions\",\"rests\",\"primarily\",\"with\",\"regulators\",\"and\",\"lawmakers\",\"rather\",\"than\",\"through\",\"private\",\"litigation\",\"While\",\"other\",\"defendants\",\"in\",\"the\",\"electric\",\"market\",\"have\",\"continued\",\"to\",\"face\",\"litigation\",\"the\",\"ruling\",\"reinforced\",\"concerns\",\"among\",\"critics\",\"that\",\"ordinary\",\"Texans\",\"often\",\"have\",\"limited\",\"avenues\",\"for\",\"holding\",\"powerful\",\"institutions\",\"accountable\",\"after\",\"catastrophic\",\"failures\",\"The\",\"Unique\",\"Texas\",\"Switch\",\"Hold\",\"Most\",\"Americans\",\"assume\",\"that\",\"if\",\"they\",\"are\",\"unhappy\",\"with\",\"a\",\"utility\",\"provider\",\"they\",\"can\",\"simply\",\"switch\",\"companies\",\"Texas\",\"operates\",\"differently\",\"Under\",\"Texas\",\"s\",\"deregulated\",\"electricity\",\"market\",\"a\",\"customer\",\"who\",\"has\",\"an\",\"outstanding\",\"balance\",\"associated\",\"with\",\"a\",\"deferred\",\"payment\",\"agreement\",\"may\",\"be\",\"subject\",\"to\",\"a\",\"switch\",\"hold\",\"This\",\"can\",\"prevent\",\"that\",\"customer\",\"s\",\"service\",\"identifier\",\"from\",\"being\",\"transferred\",\"to\",\"another\",\"retail\",\"electric\",\"provider\",\"until\",\"the\",\"balance\",\"issue\",\"is\",\"resolved\",\"Multiple\",\"Texas\",\"electricity\",\"market\",\"explanations\",\"describe\",\"switch\",\"holds\",\"as\",\"a\",\"mechanism\",\"that\",\"follows\",\"the\",\"customer\",\"s\",\"account\",\"and\",\"blocks\",\"switching\",\"providers\",\"until\",\"debts\",\"are\",\"settled\",\"Critics\",\"argue\",\"this\",\"system\",\"gives\",\"providers\",\"leverage\",\"that\",\"would\",\"be\",\"unusual\",\"in\",\"many\",\"competitive\",\"markets\",\"and\",\"can\",\"limit\",\"consumer\",\"choice\",\"for\",\"financially\",\"distressed\",\"households\",\"Talarico\",\"s\",\"Platform\",\"While\",\"many\",\"c&aigns\",\"focus\",\"on\",\"partisan\",\"conflict\",\"Talarico\",\"s\",\"message\",\"centers\",\"on\",\"affordability\",\"and\",\"accountability\",\"His\",\"major\",\"themes\",\"include\",\"Lower\",\"Everyday\",\"Costs\",\"Talarico\",\"has\",\"made\",\"affordability\",\"the\",\"centerpiece\",\"of\",\"his\",\"c&aign\",\"arguing\",\"that\",\"government\",\"should\",\"focus\",\"on\",\"reducing\",\"the\",\"financial\",\"pressure\",\"facing\",\"working\",\"families\",\"Relief\",\"at\",\"the\",\"Pump\",\"He\",\"has\",\"proposed\",\"suspending\",\"federal\",\"gasoline\",\"and\",\"diesel\",\"taxes\",\"to\",\"provide\",\"temporary\",\"relief\",\"during\",\"periods\",\"of\",\"elevated\",\"fuel\",\"prices\",\"Opposition\",\"to\",\"Endless\",\"Foreign\",\"Conflicts\",\"Talarico\",\"has\",\"criticized\",\"military\",\"actions\",\"that\",\"contribute\",\"to\",\"higher\",\"energy\",\"prices\",\"and\",\"greater\",\"economic\",\"uncertainty\",\"for\",\"American\",\"families\",\"Anti\",\"Corruption\",\"Reform\",\"He\",\"argues\",\"that\",\"excessive\",\"donor\",\"influence\",\"and\",\"special\",\"interest\",\"power\",\"distort\",\"public\",\"policy\",\"and\",\"contribute\",\"to\",\"rising\",\"costs\",\"Building\",\"a\",\"Cross\",\"Partisan\",\"Coalition\",\"Rather\",\"than\",\"emphasizing\",\"traditional\",\"party\",\"divisions\",\"Talarico\",\"regularly\",\"calls\",\"for\",\"cooperation\",\"among\",\"rural\",\"and\",\"urban\",\"voters\",\"conservatives\",\"and\",\"liberals\",\"religious\",\"and\",\"secular\",\"Americans\",\"Why\",\"Top\",\"vs\",\"Bottom\",\"Matters\",\"Whether\",\"one\",\"agrees\",\"with\",\"Talarico\",\"s\",\"political\",\"conclusions\",\"or\",\"not\",\"his\",\"central\",\"question\",\"deserves\",\"attention\",\"Why\",\"do\",\"so\",\"many\",\"Americans\",\"feel\",\"that\",\"the\",\"economy\",\"works\",\"well\",\"for\",\"those\",\"at\",\"the\",\"top\",\"while\",\"becoming\",\"increasingly\",\"difficult\",\"for\",\"everyone\",\"else?\",\"The\",\"answer\",\"offered\",\"by\",\"Talarico\",\"is\",\"straightforward\",\"When\",\"wealth\",\"and\",\"political\",\"influence\",\"become\",\"concentrated\",\"policy\",\"increasingly\",\"serves\",\"those\",\"with\",\"access\",\"and\",\"power\",\"The\",\"result\",\"is\",\"an\",\"affordability\",\"crisis\",\"experienced\",\"by\",\"millions\",\"of\",\"Americans\",\"His\",\"c&aign\",\"asks\",\"voters\",\"to\",\"look\",\"beyond\",\"traditional\",\"partisan\",\"labels\",\"and\",\"ask\",\"a\",\"simpler\",\"question\",\"Who\",\"benefits\",\"from\",\"the\",\"current\",\"system\",\"and\",\"who\",\"pays\",\"the\",\"price?\",\"Conclusion\",\"Texas\",\"voters\",\"face\",\"a\",\"clear\",\"choice\",\"One\",\"vision\",\"accepts\",\"politics\",\"as\",\"a\",\"contest\",\"between\",\"left\",\"and\",\"right\",\"red\",\"and\",\"blue\",\"The\",\"other\",\"advanced\",\"byJames\",\"Talarico\",\"argues\",\"that\",\"the\",\"real\",\"struggle\",\"is\",\"between\",\"concentrated\",\"power\",\"at\",\"the\",\"top\",\"and\",\"ordinary\",\"citizens\",\"at\",\"the\",\"bottom\",\"For\",\"voters\",\"concerned\",\"about\",\"affordability\",\"accountability\",\"energy\",\"policy\",\"and\",\"the\",\"influence\",\"of\",\"billionaires\",\"and\",\"major\",\"donors\",\"in\",\"government\",\"Talarico\",\"offers\",\"a\",\"distinctly\",\"different\",\"approach\",\"Supporters\",\"would\",\"argue\",\"that\",\"the\",\"time\",\"has\",\"come\",\"to\",\"vote\",\"forJames\",\"Talarico\",\"Footnotes\",\"RealClearPolitics\",\"The\",\"Fight\",\"Is\",\"Not\",\"Left\",\"Versus\",\"Right\",\"It\",\"Is\",\"Top\",\"Versus\",\"Bottom\",\"Texas\",\"Public\",\"Radio\",\"Talarico\",\"affordability\",\"and\",\"anti\",\"corruption\",\"platform\",\"Houston\",\"Public\",\"Media\",\"Fuel\",\"prices\",\"gas\",\"tax\",\"suspension\",\"and\",\"affordability\",\"proposals\",\"University\",\"of\",\"Texas\",\"Energy\",\"Institute\",\"ERCOT\",\"Blackout\",\"2021\",\"FERC\",\"NERC\",\"Report\",\"on\",\"February\",\"2021\",\"Cold\",\"Weather\",\"Outages\",\"Texas\",\"Tribune\",\"ERCOT\",\"sovereign\",\"immunity\",\"ruling\",\"Choose\",\"Texas\",\"Power\",\"Texas\",\"Switch\",\"Hold\",\"Explained\",\"Gatby\",\"Switch\",\"Hold\",\"Rules\",\"and\",\"ERCOT\",\"Market\",\"Procedures\",\"ElectricRates\",\"org\",\"How\",\"Switch\",\"Holds\",\"Affect\",\"Consumer\",\"Choice\"]<\/script>\r\n\t<div id=\"rr_wrapper29231\" class=\"rr_wrapper\" postid=\"29231\"><\/div>\r\n\t<div id=\"rr_content29231\"> \n<p class=\"wp-block-paragraph\">How Stablecoins Became the Oligarchs\u2019 Path Back to a Pre\u2011Civil\u2011War America<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">I. The Return of an Old Dream<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In the decades following the <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/28201\">Civil War<\/a>, the United States embraced a foundational democratic principle: one person, one vote, backed by a federal monetary system capable of disciplining bad actors through banking regulation, Treasury control, and\u2014when necessary\u2014freezing accounts. This architecture enabled the rise of the <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/26436\">petrodollar<\/a>, a system in which global oil pricing in dollars reinforced U.S. financial dominance and allowed the government to impose sanctions by restricting access to dollar clearing networks. (Background on the petrodollar: Investopedia)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today, a new class of <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/8175\">American oligarchs<\/a>\u2014crypto billionaires, venture\u2011capital ideologues, and techno\u2011libertarian political donors\u2014are openly challenging that post\u2011Civil\u2011War settlement. Their preferred tool is not the ballot box or the traditional party system. It is the privately controlled e\u2011coin: stablecoins, tokenized dollars, and blockchain\u2011based financial rails that operate outside the Federal Reserve\u2019s reach. (Overview of stablecoins: Federal Reserve analysis)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Their goal, stated in podcasts, investor letters, and political projects, is a return to a police\u2011state model of governance reminiscent of the Confederacy\u2014rule by property, not citizenship; exit over voice; private enforcement over public law; and a monetary system controlled by private elites rather than democratic institutions.   <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">II. The Oligarchic Theory of Money<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u201cOne\u2011vote\u2011per\u2011citizen is obsolete.\u201d<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Several prominent <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/anarchy\/argentina-billionaires\">crypto billionaires<\/a> have argued that democracy should evolve toward capital\u2011weighted voting, where those with more digital wealth have more political power. Examples of this ideology appear in writings by influential crypto investors such as Balaji Srinivasan, who promotes \u201cnetwork\u2011state governance\u201d (The Network State), and in public comments by venture capitalists who argue for \u201cexit over voice\u201d as a political model. This worldview aligns closely with the antebellum South\u2019s political structure, where property ownership determined political power and private militias enforced order.<\/p>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>Stablecoins as the new plantation currency<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Stablecoins are not government money. They are private dollars, issued by corporations, backed by Treasuries, and governed by terms of service rather than constitutional law. (Example: Circle\u2019s USDC terms of service: Circle Legal)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This means:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>oligarchs control issuance,<\/li>\n\n\n\n<li>oligarchs control access,<\/li>\n\n\n\n<li>oligarchs control surveillance,<\/li>\n\n\n\n<li>oligarchs control sanctions.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The U.S. government can freeze a bank account; It cannot freeze a blockchain wallet. This is the core of the oligarchic project: privatize the dollar, privatize monetary policy, privatize punishment.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">III. The Petrodollar Meets the Cryptodollar<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For fifty years, the petrodollar system gave the U.S. unmatched geopolitical leverage. Oil was priced in dollars; global reserves were held in Treasuries; sanctions could cripple adversaries by cutting them off from dollar clearing. (Background: Council on Foreign Relations \u2013 U.S. sanctions) Stablecoins complicate this.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Stablecoins strengthen the dollar\u2019s reach<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">They make the dollar ubiquitous in crypto markets, emerging economies, and cross\u2011border commerce.<\/p>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>But they weaken the government\u2019s control<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Dollar reach expands. Dollar governance contracts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is exactly what oligarchs want: a dollar that is powerful globally but controlled privately.<\/p>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li>The Fed\u2019s dilemma<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve must now defend Treasury demand, manage liquidity, and maintain monetary stability in a world where private issuers\u2014not the central bank\u2014create digital dollars. (Fed discussion: Federal Reserve Publications) This is a reversal of the post\u2011Civil\u2011War monetary order.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">IV. Freedom Cities, HOAs, and the Vote\u2011By\u2011Exit Movement<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The political wing of this ideology is the vote\u2011by\u2011exit model:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/24162\">Freedom Cities<\/a><\/li>\n\n\n\n<li>private HOAs<\/li>\n\n\n\n<li>gated communities<\/li>\n\n\n\n<li>membership\u2011based micro\u2011polities<\/li>\n\n\n\n<li>private clubs with their own rules, currencies, and enforcement<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In these systems, citizenship is replaced by membership, and membership is controlled by wealth. This is not democracy. It is a return to property\u2011based governance, the core political structure of the Confederacy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Stablecoins are the monetary layer that makes this possible.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">V. The Threat to Post\u2011Civil\u2011War Democracy<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>The U.S. loses its ability to punish bad actors worldwide<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">If stablecoins replace bank\u2011based dollars, the U.S. <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/archives\/8175\">loses the ability <\/a>to freeze accounts, enforce sanctions, and regulate global flows.<\/p>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>Monetary policy becomes privatized<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">The Fed becomes a spectator while private issuers determine digital\u2011dollar supply.<\/p>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li>Democratic accountability erodes<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">When money is governed by corporations, not Congress, citizens lose control over the most powerful tool of national policy.<\/p>\n\n\n\n<ol start=\"4\" class=\"wp-block-list\">\n<li>The American Dream fractures<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">The promise that any citizen can participate equally in the economy and democracy is replaced by a system where:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>wealth buys votes,<\/li>\n\n\n\n<li>private cities replace public ones,<\/li>\n\n\n\n<li>private currencies replace public money,<\/li>\n\n\n\n<li>private enforcement replaces public law.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This is not the American Dream. It is the Confederate Dream, rebuilt with blockchains instead of plantations.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">VI. Conclusion: The American Dream at a Crossroads<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Stablecoins have expanded the dollar\u2019s reach but empowered oligarchs who openly reject one\u2011person\u2011one\u2011vote democracy. They have weakened the government\u2019s ability to punish bad actors, undermined the post\u2011Civil\u2011War monetary order, and accelerated a shift toward private governance, private enforcement, and private money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the U.S. eventually introduces an e\u2011dollar, it may restore democratic control over digital currency. But the longer stablecoins dominate, the more entrenched oligarchic monetary power becomes\u2014and the harder it will be to reclaim.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/anarchy\/vindictive-prosecution\">American Dream<\/a> was built on the idea that citizens, not oligarchs, shape the <a href=\"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/anarchy\/trump-cronies-state\">nation\u2019s future<\/a>. Stablecoins test whether that dream still holds.<\/p>\n\n\n\n<h1 class=\"wp-block-heading entry-title\">Top vs. Bottom: Why Texas Needs a Different Kind of Politics<\/h1>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">The Real Divide in America Is Not Left vs. Right<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Texas State Representative&nbsp;<a href=\"https:\/\/outlook.live.com\/people\/0\/James+Talarico?EntityRepresentationId=50ccfd3b-55cf-87c6-b6f3-05c18e9d7176\">James Talarico<\/a>&nbsp;has advanced an argument that is resonating far beyond traditional partisan lines: the central conflict in American politics is no longer left versus right, but&nbsp;<strong>top versus bottom<\/strong>. According to Talarico, the people struggling with housing costs, utility bills, food prices, fuel costs, and healthcare are not primarily divided by party affiliation. Instead, they are increasingly united by a common frustration that government often appears more responsive to large donors, billionaires, and powerful interests than to ordinary citizens. In this framework, the \u201ctop\u201d consists of billionaires, major political donors, large corporations, lobbyists, and the political establishment. The \u201cbottom\u201d includes teachers, truck drivers, retirees, farmers, small business owners, first responders, and working families who bear the consequences of public policy decisions.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Talarico argues that America\u2019s affordability crisis is, at its core, a corruption crisis. Government, he contends, increasingly serves concentrated wealth rather than the public interest.<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">The Billionaire Class and Political Influence<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Few individuals better symbolize economic influence than&nbsp;<a href=\"https:\/\/outlook.live.com\/people\/0\/Elon+Musk?EntityRepresentationId=3d9928ef-bd4a-8061-9d61-3be4e2af88c3\">Elon Musk<\/a>. As one of the world\u2019s wealthiest individuals, Musk\u2019s financial and political influence illustrates Talarico\u2019s broader argument that a small number of people possess extraordinary power to shape public debate, political campaigns, and public policy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Likewise, Texas has long been home to influential energy interests. Among the best known is&nbsp;<a href=\"https:\/\/outlook.live.com\/people\/0\/Jerry+Jones?EntityRepresentationId=040912b4-55b2-8420-a616-aae71c0e9589\">Jerry Jones<\/a>, owner of the Dallas Cowboys and a major figure in the energy sector through family interests associated with Comstock Resources and natural gas production.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The issue is not whether these individuals have succeeded. The issue raised by Talarico is whether the political system disproportionately reflects the interests of those at the top while ordinary Texans face rising costs and diminished influence.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Winter Storm Uri: A Case Study<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The 2021 Texas power crisis remains one of the most devastating public-policy failures in state history.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During Winter Storm Uri, millions of Texans lost power and heat. Investigations found failures across electric generation, natural gas supply, weatherization, grid operations, and emergency planning. More than 4.5 million homes lost power during the emergency. The official investigations did&nbsp;<strong>not<\/strong>&nbsp;assign responsibility to any single person or company. Rather, they described a system-wide failure involving multiple market participants, regulators, and infrastructure weaknesses. Yet many Texans were left asking a broader question: Why did ordinary families suffer freezing homes, astronomical energy bills, and tragic loss of life while major energy interests remained financially protected?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That question lies at the heart of the top-versus-bottom debate.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Accountability and Texas Law<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">One of the least discussed aspects of the Texas power crisis involves legal accountability.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">In 2023, the Texas Supreme Court ruled that ERCOT, the organization responsible for managing most of Texas\u2019s electric grid, is protected by sovereign immunity and cannot generally be sued for damages related to grid failures during the 2021 storm. The court held that accountability for ERCOT\u2019s actions rests primarily with regulators and lawmakers rather than through private litigation. While other defendants in the electric market have continued to face litigation, the ruling reinforced concerns among critics that ordinary Texans often have limited avenues for holding powerful institutions accountable after catastrophic failures.<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">The Unique Texas \u201cSwitch Hold\u201d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Most Americans assume that if they are unhappy with a utility provider they can simply switch companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Texas operates differently.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under Texas\u2019s deregulated electricity market, a customer who has an outstanding balance associated with a deferred payment agreement may be subject to a \u201cswitch hold.\u201d This can prevent that customer\u2019s service identifier from being transferred to another retail electric provider until the balance issue is resolved. Multiple Texas electricity-market explanations describe switch holds as a mechanism that follows the customer\u2019s account and blocks switching providers until debts are settled. Critics argue this system gives providers leverage that would be unusual in many competitive markets and can limit consumer choice for financially distressed households.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Talarico\u2019s Platform<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While many campaigns focus on partisan conflict, Talarico\u2019s message centers on affordability and accountability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">His major themes include:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Lower Everyday Costs<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Talarico has made affordability the centerpiece of his campaign, arguing that government should focus on reducing the financial pressure facing working families.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Relief at the Pump<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">He has proposed suspending federal gasoline and diesel taxes to provide temporary relief during periods of elevated fuel prices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Opposition to Endless Foreign Conflicts<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Talarico has criticized military actions that contribute to higher energy prices and greater economic uncertainty for American families.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Anti-Corruption Reform<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">He argues that excessive donor influence and special-interest power distort public policy and contribute to rising costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Building a Cross-Partisan Coalition<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Rather than emphasizing traditional party divisions, Talarico regularly calls for cooperation among rural and urban voters, conservatives and liberals, religious and secular Americans.<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">Why \u201cTop vs. Bottom\u201d Matters<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Whether one agrees with Talarico\u2019s political conclusions or not, his central question deserves attention:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why do so many Americans feel that the economy works well for those at the top while becoming increasingly difficult for everyone else?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The answer offered by Talarico is straightforward. When wealth and political influence become concentrated, policy increasingly serves those with access and power. The result is an affordability crisis experienced by millions of Americans. His campaign asks voters to look beyond traditional partisan labels and ask a simpler question:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Who benefits from the current system, and who pays the price?<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Texas voters face a clear choice. One vision accepts politics as a contest between left and right, red and blue. The other, advanced by&nbsp;<a href=\"https:\/\/outlook.live.com\/people\/0\/James+Talarico?EntityRepresentationId=50ccfd3b-55cf-87c6-b6f3-05c18e9d7176\">James Talarico<\/a>, argues that the real struggle is between concentrated power at the top and ordinary citizens at the bottom.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For voters concerned about affordability, accountability, energy policy, and the influence of billionaires and major donors in government, Talarico offers a distinctly different approach.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Supporters would argue that the time has come to vote for&nbsp;<\/strong><a href=\"https:\/\/outlook.live.com\/people\/0\/James+Talarico?EntityRepresentationId=50ccfd3b-55cf-87c6-b6f3-05c18e9d7176\"><strong>James Talarico<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Footnotes<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.realclearpolitics.com\/video\/2026\/07\/30\/talarico%5C_the%5C_fight%5C_in%5C_this%5C_country%5C_is%5C_not%5C_left%5C_versus%5C_right%5C_it%5C_is%5C_top%5C_versus%5C_bottom.html\">RealClearPolitics: \u201cThe Fight Is Not Left Versus Right. It Is Top Versus Bottom.\u201d<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.tpr.org\/2026-09-24\/texas-senate-race-focuses-on-high-prices-but-what-can-talarico-or-paxton-actually-do-about-it\">Texas Public Radio: Talarico affordability and anti-corruption platform.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.houstonpublicmedia.org\/articles\/news\/politics\/election-2026\/2026\/09\/28\/562927\/paxton-talarico-spar-over-gas-tax-suspension-amid-rising-prices\/\">Houston Public Media: Fuel prices, gas-tax suspension, and affordability proposals.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/energy.utexas.edu\/research\/ercot-blackout-2021\">University of Texas Energy Institute: ERCOT Blackout 2021.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.nerc.com\/globalassets\/our-work\/reports\/event-reports\/february%5C_2021%5C_cold%5C_weather%5C_report.pdf\">FERC\/NERC Report on February 2021 Cold Weather Outages.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.texastribune.org\/2023\/06\/23\/ercot-lawsuits-winter-storms\/\">Texas Tribune: ERCOT sovereign immunity ruling.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.choosetexaspower.org\/energy-resources\/switch-hold-on-electricity\/\">Choose Texas Power: Texas Switch Hold Explained.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/gatby.com\/blog\/navigating-a-switch-hold-on-your-electricity-account\">Gatby: Switch Hold Rules and ERCOT Market Procedures.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/electricrates.org\/guides\/switch-hold-texas\/\">ElectricRates.org: How Switch Holds Affect Consumer Choice.<br \/><br \/><\/a><\/li>\n<\/ol>\n <\/div>\r\n\t\t","protected":false},"excerpt":{"rendered":"<p>How Stablecoins Became the Oligarchs\u2019 Path Back to a Pre\u2011Civil\u2011War America I. The Return of an Old Dream In the decades following the Civil War, the United States embraced a foundational democratic principle: one person, one vote, backed by a federal monetary system capable of disciplining bad actors through banking regulation, Treasury control, and\u2014when necessary\u2014freezing&hellip;<\/p>\n","protected":false},"author":1,"featured_media":28344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[531,66],"tags":[],"class_list":["post-29231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cities","category-evaluation"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4nQeu-7Bt","jetpack_featured_media_url":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-content\/uploads\/2026\/06\/img_1217.jpeg","_links":{"self":[{"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/posts\/29231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/comments?post=29231"}],"version-history":[{"count":10,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/posts\/29231\/revisions"}],"predecessor-version":[{"id":29976,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/posts\/29231\/revisions\/29976"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/media\/28344"}],"wp:attachment":[{"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/media?parent=29231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/categories?post=29231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eskimo.com\/~mighetto\/murrelet\/Wordpress\/wp-json\/wp\/v2\/tags?post=29231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}