Genius Act:

My 2 cents.

The main goal of the government is to sell treasuries. With China and other countries not buying them up anymore that leaves a vaccuum. There is a way to fill this void.

Lets say your lagalize stable coins, think of what will happen next. The dollars sucks and we are all here because to some degree we don't like the dollar, however the fact is that the dollar is one of the best performing curriencies in the world. There are 350 million americans who complain about the dollar, but there are 6 billion people who suffer from governments who use inflation to fund their governments. 3rd world countries all just print money to pay staff and stay in control causing a tax accross the whole economy. 3rd world countries do not have an IRS, they just print and the whole population suffers. The closer you are to the source of the money the less inflation you suffer. Instead of tax incentives 3rd world countries give the money to their favorite entities first, allowing them to suffer less and have an advantage.

So now enter digital dollars. To use them you will need only one thing, a smart phone. I have seen with my own eyes people living in the jungle in a shack with nothing but a dug out canoe and a fishing pole to their names, but they have a cell phone. All you need to use digital dollars is a cell phone.

How many of these 6 billion people want digital dollars?? how many of them would have a massive advantage if they used digital dollars? 99% maybe 98%

When you print money you create inflation, ask Trump,, inflation is bad.

But when you print money and export it you suffer no inflation. That money leaves your local economy and becomes a part of a diffrent local economy.

The genius act allows anyone to create a digital dollar, but not the government. It allows banks to make stablecoins. But they must be backed 1:1 with dollars.

Is JP morgan going to create a digital dollar? yes

What is the demand for this digital dollar? billions, yes! Trillions? Maybe!

Lets say you want to make 1 trillion of digital dollars (and your not tether) what do you do? You as JP morgan need to back the dollars 1:1 so what asset do you use????

That's right you use US treasuries.

SO dig this, the government allows the banks to create digital dollars but only if they buy treasuries to back them. What are tresuries? Debit!!

SO the Government just allowed the banks to buy USA debit and package it into digital dollars and dump it on the world!!!

Will this cause inflation in America?? NO !!!

so we can export the inflationary aspect of increaseing the supply of dollars out to the world where those poeple who buy it up are indirectly funding the sale of US debit.

This is like a mulit level marketing scheame where we just found 6 billion new buyers!!!

They benifit due to less inflation but the local governments that use inflation to fund their governments will suffer.

3rd world countries will have 2 paths forward, 1. Try to stop the use of digital dollars or embrace it and loose power but need to create a 1st world tax system to fund their government. Argentina is an example of a country working throught this now.

Bitcoin is great and is the final solution, but before bitcoin wins the digital dollar will flood the world. This will be a way to monitize our US debit to the rest of the world in the trilions and make the USA rich but more than that it will be the center of the universe when it comes to money. The law says 1:1 backing so can a country make a digital dollar? yes but you got to buy US treasuries to back it!!

This is so genius that I see why they named it that, but is it honest?

How many people will participate in this scheme and not even know it?

The world is going to love sucking up a digital dollars with what they see as low 3 or 4 % inflation. (compared to a local inflation of 15 to 20%)

this is why the government is embracing crypto, not because it wants freedom, but because it wants to sell tresuries.

sorry so sloppy, i'll try better to type this into a spell and grammer checker first next time.