explaining this further.
new federal reserve notes are backed by nothing but issuance is dependent on the FED and they may not cooperate
a treasury bill backed stable coin that circulates feeling like tether can have its interest rates for stable coin loans set by the market and supply dictated by demand of the market
treasury can issue as many treasury bills as the market makers of the usd stable coin can absorb
the treasury becomes directly in control of the interest rates of its treasuries and and can mandate low interest rate payments to stable coin issuers who just collect interest.
banks keep the stable coins for depositors so they can issue loans and use the stable coins as "reserves" rather than fed bank reserves.
the US gov doesn't need to abolish the FED and can instead make it irrelevant
also they get to directly export inflation worldwide via their treasury bills which back the stable coins and have full visibility into capital flows
this also eliminates the euro dollar system by replacing it with a stable coin based system
then many counties ban stable coins, then they fight the US and eventually we get to hyperbitcoinization
Byzantine
everyone is a scammer and this interview showed his true colors with how defensive he became with @Danny Knowles simple innocent question
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Everyone's a Scammer | Satoshi Nakamoto Institute
There is a war going on for your bitcoins, and willpower is your only defense.
right now the FED issues the federal reserve note and it circulates as paper currency.
each bank has their own ledger currency that is supported by federal reserve "bank" reserves + other assets
we are witnessing the treasury directly attack the fed and use stable coins as a new "treasury bill backed" currency.
this will be a slow grind but an end to bank reserves and federal reserve notes.
thank you for your attention to this matter
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geohashes is a really cool idea used by bitchat
Geohash Explorer
venezuela explained
maduro's bitcoin is about to join the US' strategic confiscation reserve

we are entering the phase of the "lying doom loop"
-"So long as the bosses pretend to pay us, we will pretend to work."
-"So long as the gov pretends to need our taxes, we will pretend to pay them."
🤫
The Russian Nobel Prize winner, Aleksandr Solzhenitsyn:
“We know that they are lying, they know that they are lying, they even know that we know they are lying, we also know that they know we know they are lying too, they of course know that we certainly know they know we know they are lying too as well, but they are still lying. In our country, the lie has become not just moral category, but the pillar industry of this country.”
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