Treasury just doesn't have enough liquidity to make any real move without The Fed aligning on the end goal. If Bessant is playing some game with dollar dominance via weakening its purchase power and hoping that exports will help fill the coffers, we're in trouble.
Stablecoin are popular to avoid sanctions. Russia has moved Billions via stablecoin to circumvent US Banking Sanctions. The GENIUS Act does little/nothing to create an enforcable mechanism to handle mixers or decentralized-finance platforms.
Treasury just doesn't have enough liquidity to make any real move without The Fed aligning on the end goal. If Bessant is playing some game with dollar dominance via weakening its purchase power and hoping that exports will help fill the coffers, we're in trouble.
Stablecoin are popular to avoid sanctions. Russia has moved Billions via stablecoin to circumvent US Banking Sanctions. The GENIUS Act does little/nothing to create an enforcable mechanism to handle mixers or decentralized-finance platforms.
Thanks for always watching Lary.