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If stable coins grow dramatically, does that allow the US dollar debasement to go much further before system cracks appear? Does it allow fiscal dominance to go further than it normally would in a substantial way? Fiscal dominance isn't binary. There's a degree to which things are fiscally dominated. So do stable coins let that fiscal dominance go further? Maybe central banks don't want to buy are 30-year bonds anymore but people in Nigeria are financing USA debt through tether who's buying t bills, right?
↩ replying to npub1twan...xjqh
Stablecoins will just prolong the inevitable. The dollar, and anything tied to it, will continue to collapse as long as Congress refuses to balance the budget and pay off the debt. The entire house of cards depends on them not doing that, so they will expand the balance sheet and take the national debt to 100 Trillion or higher before they will even seriously ADMIT that there is a problem. The United States is a zombie state. There is nothing that can be done other than exit and wait for the new cycle to declare the truth.