IN REFERENCE TO WORLD LIBERTY FI Here’s how it works. Right now the banks are the ones holding that debt. They take our deposits, buy short term and long term bonds, keep the interest, and kick back a smaller cut to us as savings. Stablecoins change that game. Banks spread across both short and long bonds, but stablecoins only touch short term debt. And what rate does the Fed actually control? The overnight rate, the very shortest end. That means stablecoins shift a huge chunk of money supply directly under Fed control. They cannot touch long debt like mortgages. Another key point, stablecoins do not pay interest. That was part of the deal with banks. Of course, workarounds already exist. Now here is the issue, all U.S. debt has to roll over into new bonds. With high rates, the government has to pay up to lure buyers, which is brutal on the balance sheet. They would much rather see rates drop. In the meantime, stablecoins are scooping up massive amounts of short debt. Who are...