quote:
“A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back stablecoins. This newfound demand could lower government borrowing costs and help rein in the national debt. It could also onramp millions of new users — across the globe — to the dollar-based digital asset economy,” Bessent said. “It’s a win-win-win for everyone involved”

CNBC

Hope it works we got plenty of deficit to fund,

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Posted by UltimaParadox

North Carolina

Member since Nov 2008

51349 posts

Posted on 6/21/25 at 9:50 am to bigjoe1

I think they overestimate how much these stable coins are actually backed by any real asset. There is a reason none of them will go through any audit and are incorporated outside of the USA to avoid authorities.

Tether says if you trust them they are already one of the largest holders of UST in the world.

So don't think this will amount to much.

This post was edited on 6/21/25 at 9:52 am

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Posted by Drizzt

Cimmeria

Member since Aug 2013

14881 posts

Posted on 6/21/25 at 10:19 am to bigjoe1

Stablecoins are like lottery tickets for funding government debt. They are a tax on people who are bad at math. I’m all for voluntary taxation.

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Posted by lsuconnman

Baton rouge

Member since Feb 2007

4460 posts

Posted on 6/21/25 at 11:07 am to bigjoe1

Count me in. I’ve always been suspicious of a piece of paper backed by a government promise.

But, a digital currency backed by a piece of paper that is backed by a government promise gets me past the finish line.

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Posted by SlidellCajun

Slidell la

Member since May 2019

15984 posts

Posted on 6/22/25 at 7:27 pm to bigjoe1

The US government is not going to jeopardize the US dollar. They aren’t going to allow internal competition to the US dollar.