Everything in the economic world is in flux. The prices of all financial assets change in relation to each other.
Business and political leaders dream of having a "stable" currencies for their ledgers. The problem is that prices change every year.
For centuries people tried using combinations of silver and gold for the stable coin. This led to an unending string of economic crisis since the price of the commodities would change as the supplies of gold and silver fluctuated. Efforts to peg currencies to gold and silver kept failing as well.
The current thinking is to create an international system with currencies pegged to each other. This desire for stable coins on the international level has led to numerous recessions and even a few wars.
I side with the person who says that "decentralized stablecoins is an oxymoron." One of the driving forces behind crypto is the realization that all assets are in flux. The thought behind cyrpto is that the world needs currencies which the world can trust. The best way to do this is to just accept that the prices of economic assets are in constant flux.
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Great point, thanks for sharing