I saw a violent argument today, and I will briefly repeat it: After Tether received the U.S. dollar and issued an equivalent amount of USDT, 80% of the main U.S. dollar reserves were used to buy U.S. Treasury bonds... In this process, USDT is created out of thin air, and the US dollar also has real purchasing power and has become an asset. In other words, 1 US dollar has actually become a treasury bond equivalent to 1 USDT and 1 US dollar; Here's the problem: If USDT does not enter the circulation of the US economy and only operates in the cryptocurrency market, then there is nothing wrong with this mechanism... However, if USDT enters the economic circulation of the United States, some Americans can easily use USDT to pay, then it is equivalent to the dollar that Tether itself took from the market and returned to the market in the form of USDT; At the same time, another $1 was taken to buy Treasury bonds... I don't know if you've found a problem? This is equivalent to creating a $2 currency out of $1!! The same logic is similar to the original financial operations of Alipay and Ant Financial, which are cyclic and multi-leverage... Due to the existence of the US dollar stablecoin, while 1 US dollar creates 2 US dollar currency, some of the new 1 US dollar may become a stablecoin again, and create more new liquidity... This can lead to a stablecoin issuing company turning into a small central bank. Or the small Fed... If Trump's strategy of vigorously promoting stablecoins is to make the domestic economy accept the flow of stablecoins, then it only takes a few simple steps to turn a large number of dollars in circulation in the United States into stablecoins, and at the same time use these dollars to buy Treasury bonds to complete the ultimate debt! In that case, stablecoins and the U.S. dollar will become the new mainstream currencies, flowing within the U.S. without bringing inflation, and the U.S. dollar in the hands of the American people will literally become a national debt! The U.S. will also be the first country in the world to adopt stablecoins on a large scale, which is exactly what Trump said about "ensuring that blockchain innovation happens in the U.S."... I don't know what you think of this violent theory? Is this an effective solution to "reduce debt"?