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38 sats \ 3 replies \ @SimpleStacker 20h \ parent \ on: Mark Cuban mulls memecoin to pay US debt econ
Ok, so hear me out. We can't give bond holders $TRUMP coz that would constitute a default.
But if they sell memecoins to pay off debt, wouldn't that constitute taking dollars out of circulation? Degens give the feds dollars, the feds use the dollars to retire debt. Degens get memecoins, but their value will quickly fall to zero and they will stop circulating.
So doesn't Cuban's plan result in money being taken out of circulation?
We can give them $TRUMP once it's been made legal tender.
Yes, it would be deflationary, but it would only matter if there were trillions of dollars of demand for the meme coins. There are only so many fools and most of them have already been parted from their money.
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There are only so many fools
This seems like a hold my beer moment
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All I mean is that they are technically finite. The second part of that sentence was the more important part.
But, yes, I'm sure something spectacularly stupid will happen in the near future. I have been telling people for years that we aren't on The Darkest Timeline, we're on The Dumbest Timeline.
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