This isn't even slightly hidden, just listen to Michael Saylor or David Sacks. Its by far the dominant narrative about the benefits of StableCoins to US dollar dominance in international trade, and it just so happens to massively benefit the PayPal mafia and Stripe, because they're biggest cost burden is fraud. StableCoins are cryptocurrency, so NYKNYC is just as valid for USDT and USDC as it is for Bitcoin. Pushing that burden onto the consumer gives consumers cheaper online payments in return for responsibility, cutting out Visa and MasterCard, which is why Visa and MasterCard are rushing to adapt to this new US monetary strategy.

By establishing dollar backed StableCoin cryptocurrency as the dominant medium of exchange for international trade the US are attempting to route around national governments by selling their treasuries indirectly to their citizens, who either want access to dollars for store of value (over their own inflationary currencies) or for international trade and remittances, they intend to uphold demand for US treasuries, meaning they can continue the Ponzi scheme by paying off old creditors with the income from new ones, thereby exporting US inflation.

USD inflation is global taxation.

But this whole scheme is a massive scam run by the tech bros, the PayPal mafia, venture funds who want to break the regulatory barriers to keep the incumbents in place. Their motivation is to increase the efficiency of online payments, so this works for them.

But the problem for the US government is that the dominant player is international StableCoin issuance is Tether, who are hardcore Bitcoiners. They don't store their own wealth in USTs. All of their own substantial profits are converted to bitcoin and investments in the ecosystem around it. And if they could easily do it they would create a euro backed StableCoin, if euro bonds register. That's why people like Senator Lummis have been attacking them, trying to bring them to heel on behalf of Trump.

If the real market is international buyers of US treasuries, to keep USD inflation offshore, then USDC is a bit player,a rounding error.

The other problem is that national financial regulators are not toothless. Brazil and India's digital payments are far superior to those in Europe and the US.

And esteem for the US is deeply intertwined with the demand for USD, the integrity that the political system in the US has relative to those in other countries. But Trump is now looked on as a clown, a buffoon, a Boris Yeltsin figure, compared to Mikhail Gorbachev. Gorbachev may have been responsible for many tragedies, but respect for the Russian political elites only collapsed with Yeltsin. Trump's self-sabotage in international relations matters in terms of the dominance of USD in international trade. If I'm an Indian, I can say what I like about Modi, because he's my president. But if you insult him, as an American, you insult my country and me by proxy. Same for Brazilians, Australians, Canadians, Mexicans, even the Iranians, and all the "shit hole" countries.

This is so obvious that I have to question whether Trump's backup plan is in fact the collapse of the USD, a scorched earth strategy that will promote Bitcoin as the dominant world reserve currency, in combination with gold, allowing massive inflation in the US to wipe out the debt, while lubricating online payments through efficiencies provided by StableCoins, cryptocurrency, and the tokenisation of debt and equities markets. This would be like the shock therapy approach in the Russian federation in the early 90s, which impoverished a generation and lead to general societal collapse temporarily. This would be absolutely brutal, dystopian, but there are accelerationists in the administration who crave this over slow decline.