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Monteluna
@monteluna
My big brained theory is the combination of: - crypto being marshalled in - the market roiling in high interest rates - the US having high junk debt loads with student loans/cars/commercial - Paul Atkins being blessed into the SEC, who was one of the main characters during the 2008 crash with mortgage backed securities means this administration is basically planning to roll all this junk debt into a new type of digital security and jumble it into the stablecoin bill. It would effectively offload it to offshore shadow banks where default risk is held by foreign stablecoin users.
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Monteluna
@monteluna
I mean this theory seriously in a sense that I believe Trump, Bessent, Lutnick, Powell, and the Reps in the House Financial Services committee as well as Jamie Dimon and the bank heads are sitting in meetings basically arguing how they're going to offload all this stuff onto Tether, Circle, and the likes.
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