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0 sats \ 0 replies \ @Atreus 31 Oct 2022 \ on: The U.S. Will Weaponize The Dollar By Backing It With Bitcoin bitcoin
Boom boom. These are the crucial points, IMO —
If Tether is true to their word and continues to back USDT with U.S. government debt, we could see a scenario in the near future where 80% of the total stablecoin market is backed by U.S. government debt.
What if a proliferating stablecoin market, backed by government debt, can help soak up that lost demand for U.S. Treasurys? Is this how the U.S. finds a solution to the unwinding petrodollar system?
This would indeed be the smart play for our financiers, who have to know the writing is on the wall for the Petrodollar. And America's financiers are nothing if not smart.
TLDR: "Can't beat Bitcoin, so join it."
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