Comment Comment by dzonga one thing with these stablecoins is they're pushing to buying of 'us-debt'.congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%.now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you.that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies.what a way to steal from the poor.that's why the crypto act was called GENIUS act. parent dzonga 1 year ago
congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%.
now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you.
that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies.
what a way to steal from the poor.
that's why the crypto act was called GENIUS act.