#稳定币市场竞争 Under the $37 trillion debt pressure, why is the US suddenly embracing crypto so openly? Today I saw a particularly interesting perspective — stablecoins are becoming a tool for global debt dilution.

Simply put, debt devaluation does not equal default. Historically, the US has done this several times: after World War II, during the 1970s stagflation, and during pandemic stimulus measures, all through printing money to dilute the real value of debt. But this time, the difference is — previously, inflation was confined to the US domestic market; now, through stablecoins like USDT and USDC, this mechanism can be "exported" globally.

Think about it: when stablecoins backed by US Treasury reserves are widely used worldwide, US debt financing is effectively "outsourced" to all coin holders. As the dollar is diluted through inflation, the losses are shared collectively by global stablecoin holders. Brilliantly clever.

But there's a critical problem — whether individuals or other countries, no one can verify these reserves 100%. Reports from Tether and Circle can only be trusted; trusting them and the auditing agencies, which are almost all within the US system. The lesson from history is clear: in 1971, Nixon unilaterally cut the dollar's link to gold; similar "rule reversals" can't be prevented this time either.

So, don’t be fooled by the surface — while the US promotes stablecoins, the real reason behind the global central banks hoarding gold like crazy is to hedge against this kind of risk. For us crypto enthusiasts, this is actually a signal — the stablecoin ecosystem will become more and more prosperous, and airdrop opportunities will increase. Keep the rhythm, engage where needed, and achieve maximum returns with minimal costs.