Yup.

There are enough Bitcoiners who understand this. Enough of us to change the terminology. But today's Bitcoiners seem just fine using that term as well. As a community, we should push to change "stable coin" to something like "USD-Coin", or "fiat-coin".

The founders of the federal reserve understood how important terminology is for scaling public opinion. Bitcoiners, generally, do not understand or care about this, it would seem.