A speaker claims the "Genius Act" lets banks issue stablecoins backed by Treasury bonds, duplicating depositor money while earning yield. He points to stablecoin launches by China, U.S. states, Ripple, and European banks as evidence of a coordinated push to expand control and create new Treasury buyers.
The shadow government just created a loophole to clone your money with cryptocurrency, and I'm about to expose it. The Genius Act that just got passed into law allows banks to create stablecoins, effectively duplicating your money. If a bank issues you a stablecoin, they're allowed to take your money that you give them and invest it. So just like when you put your money in a bank, they go and invest it. They can do the same thing with a stablecoin, and they actually usually put it in treasuries earning a yield. So this effectively duplicates the money. You give them $1,000, They take your thousand, they put it in treasuries, and then they give you a synthetic thousand in the form of a stablecoin. Ever since this got signed into law, we have seen the most rapid stablecoin adoption I have ever seen in my life. As you can see right here, China adopted it. Ripple is doing deals with BlackRock on their RLUSD stablecoin. We have the first US state-issued stablecoin. So literally a state launched a stablecoin. They actually said that the yield profits were going to go to building the education system, which is insane. France is launching their own stablecoin. We have literally 9 European banks coming together to create their own euro stablecoin. I mean, it's getting really out of control. And you You know, it's really getting out of control when the CFTC wants to let stablecoins be used as collateral in the derivatives market. We're talking about access to $12 trillion worth of capital. So this is how it used to work. You have your money in a bank and you pay with a credit card or debit card. Simple. And in crypto, it was bank. Then you have to put your money into Coinbase and then maybe you'll get a stablecoin or maybe you'll get an altcoin that increases in value right now. They are all every single entity: Coinbase, banks, U.S. government, and every other government are doing everything in their power to get you into stablecoins. And see, this is the beauty of this. We have so much institutional adoption of crypto that the potential energy for it to go into altcoins are going to be bigger than we have ever experienced before. And because of how ridiculous this is, what happened is that the Treasury is literally like, hey, like, we can't do this right now, we need an extension. So on September 19th, they released an advance notice of proposed rulemaking seeking public comment on how to implement many of the law's provisions. So they literally have not started yet. Combine that with the fact that the world's biggest stablecoin, Tether, wants to raise another $15 to $20 billion, and they're hiring very strategic people to build their company. Right now, Tether is top 15 holders of U.S. Treasuries globally, and this can move them to top 12 to 14, and I'll explain the significance of that. But basically, the government really likes Tether right now. PayPal is literally integrating their stablecoin with the decentralized markets, and Circle is testing a feature where they could reverse a transaction. Basically, you send the stablecoin, and if they don't want it to go through, they could reverse it and get it back, which we have not had in crypto. They want to control this stuff and make a lot of money off of it. The shadow government is moving. You have to understand why they want these stablecoins to be adopted, and there's 2 main reasons. Number one, the banks make a lot of money off of the yield, and it increases their control over consumers. And number 2, there's a whole bunch of new purchasers of US debt now. So what they're doing is duplicating the money, giving you the synthetic crypto version, and taking your cash and putting it into government debt, the Treasuries. They're injecting it back into the US government. This is a duplication money hack that the shadow government is using to move their agenda forward And crypto is the beneficiary. Crypto is going to benefit.
