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Yes, I get it, but the government is going to do what is in its best interest and preserving demand for USTs is definitely in its best interest.
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Also true, but I think it's fair to describe a bill doing this as "bad news".
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Absolutely, we don't need to cheer them on.
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That's true. The meat of his point has to do with requiring stable coins to be backed by US Treasuries. That's a step beyond governments simply using the technology.