🧐 Insight: Stablecoins are the "2.0 export system" of American financial hegemony —

The core viewpoint of TIMZZ @timzz_sleep can be distilled into one sentence:

Stablecoins are not enemies replacing the dollar, but rather a "new vehicle" for the financial export of the dollar.

A few years ago, I wrote in my pinned post:

"When interest rate hikes are temporary, while quantitative easing is eternal," the current panic and decline are merely a reservoir before the next round of the bubble machine dominated by U.S. Treasuries and the dollar is activated.

The underlying structural force is: dollar stablecoins are the new generation of "retail investor channels" for U.S. Treasuries, while Bitcoin is the only "true hard asset" and long-term scarce asset that can hedge against the tail end of this dollar expansion.

This viewpoint seems to align perfectly with @timzz_sleep TIMZZ's article!

There is a key perspective in the content worth amplifying:

Dollar stablecoins are the largest potential underwriting network for U.S. Treasuries.

In the past, U.S. Treasuries needed to rely on countries like China, Japan, and the UK for purchases; now, all you need is a smartphone and a bit of internet bandwidth in Iran, Brazil, or Vietnam to become an indirect purchaser of U.S. Treasuries.

In other words: Crypto is not just Web3; it is becoming an extension of the "new dollar system."

So, I appreciate this article because what is most thought-provoking is not the U.S. Treasury crisis itself, but how the U.S. financial system utilizes "stablecoins + DeFi" to achieve a depersonalization, individualization, and globalization of U.S. Treasury underwriting rights.

In other words:

Stablecoins are the "money power channel to global individuals."

📌 Core Insight 1: Stablecoins = Zero-trust version of the U.S. Treasury underwriting channel!

In the past, buyers of U.S. Treasuries were sovereign nations like China, Japan, and the UK;

Now, through stablecoins, the "credit expansion" of U.S. Treasuries is outsourced to ordinary people around the world.

You might be trading crypto in Turkey, hedging in Argentina, or doing cross-border e-commerce in Vietnam, but you may not realize that the USDT in your wallet actually corresponds to the debt of the U.S. Treasury.

And every day, as you use this stablecoin for trading, investing, collateralizing, and leveraging, you are helping the U.S. Treasury convert its debt liquidity into a global asset bubble.

This is not a victory for Crypto; it is precisely a victory for the dollar.

📌 Core Insight 2: The exponential growth of stablecoins = The growth potential of U.S. Treasuries

The article mentions that the U.S. Treasury expects stablecoins to reach a market value of $2 trillion by 2028 (currently 10 times the amount).

What does this mean?

This is not an adoption curve for a fintech product; it is a new underwriting expectation for dollar debt expansion.

You think you are buying stablecoins and playing DeFi, but in reality, you are taking on the role of the next reservoir for U.S. Treasury expansion. And this is precisely the restructuring of the dollar strategy after the U.S. has moved towards disintermediation.

📌 Core Insight 3: DeFi is the superconductor of the dollar

Do you think DeFi serves Web3? No, it has already become part of the dollar's "superconducting distribution system."

Lending protocols are leverage expanders for dollar circulation;

DEXs are the liquidity hubs for stablecoins;

CDP stablecoins are "parallel dollar testbeds" outside the U.S. Treasury endorsement system;

New options markets are the dollar's volatility insurance vault on-chain.

Stablecoins and DeFi are not two separate stories; they are a dual engine of a system: one creates credit currency anchored to the dollar, while the other creates liquidity and yield scenarios.

📌 Core Insight 4: This is a "counterattack of the dollar against national sovereignty"

In the past, the dollar was exported from nation to nation; now, through stablecoins, the dollar directly bypasses nations and penetrates individuals.

This is a depersonalized financial export strategy, a global extension of dollar hegemony after its digitization.

You can block dollar bank accounts, but you cannot block stablecoins.

You can close foreign exchange channels, but you cannot stop on-chain liquidity.

The tools of American hegemony have shifted from warships and banks to on-chain code and wallets.

So, if you look at it from a higher investment cycle:

You will realize:

The biggest mainline of the crypto market in the coming years is not Meme coins, nor L2, but:

Dollar digitization → Stablecoin scaling → Globalization of U.S. Treasuries → Functionalization of DeFi → Valuation of BTC.

Stablecoins are the "superconducting pipeline" of the dollar, DeFi is the "engine room" of credit, and BTC is the only "unowned anchor" in this mechanism that is not manipulated.

So when I pinned the statement "What are you afraid of, just do it," it is also about: the intense fluctuations before this big bubble are precisely the timing for entry.

My interpretation is not exhaustive; I hope everyone can read the author's original text:

https://timzz.substack.com/p/401

From @timzz_sleep

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