Even if the government had the full control over stablecoins, it wouldn't be able to erase $37 trillion in debt.
Maybe the government could decide who owns the assets, and it could freeze, destroy, or nationalize them,but the liabilities would still remain on the books. Even if it seizes assets, it’s simply called a default, and trust is the price. Debt can’t simply vanish like this, no matter who’s in charge. By the way, parking stablecoins in T-bills is exactly how Tether has been operating for years.
