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26 sats \ 0 replies \ @justin_shocknet 16h \ on: The truth behind "stable" coins econ
The merger of the Fed and Treasury has been foretold, you can't just end the fed overnight, easily a decade long pivot behind the scenes.
Remember how hastily they needed to get stimmies and the PPP dollars into checking accounts, and therefore the banking system? I'll never forget Mnuchin looking like he was about to shit his pants when they were trying to stimmies out, the Treasury and Fed were consolidated into a single entity that day. #492749
the Fed and Treasury have basically merged to keep the music going #531830
The most important thing no one seems to be talking about is Bessent having told us they plan to re-leverage the banking system via the SLR so that treasuries are more cash-like. This is how you monetize the debt without sending velocity through the roof (and therefore inflation).
Also important to understand why Bitcoin was so importantly launched when it was, as an equity based savings system it's been and will continue to be a battery to soak up a lot of would-be inflation and keep the US atop the financial world.
Debt ceiling / budget drama isn't over by a long shot, and the fake pandemic probably wasn't the only black swan needed to sweep some of this shit under the rug. Let's see what the script has in store for WW3 emergency measures. Long pocorn. 🍿
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