The Genius Act is not mere cryptocurrency regulation—it is a calculated financial scam orchestrated by the US to offload its US$37.5 trillion debt onto the global economy, prolong the dollar's faltering dominance, and tighten control over international finance. By transforming US treasuries into tokenized "stablecoins," this law deceives nations, corporations, and individuals into bankrolling America's fiscal irresponsibility under the guise of innovation. How does this scam operate, and why should it concern every person holding these digital tokens?
What are US treasuries? They are government IOUs issued to fund spending when tax revenue falls short. Historically, investors—foreign governments, corporations, pension funds—purchased these bonds, trusting the dollar's strength and expecting interest, known as the yield. But is the dollar still reliable? No. Its value is declining, yields are uncompetitive, and US sanctions, asset seizures, and Swift network exclusions have made America a risky borrower. Why would global investors continue buying these bonds? They increasingly refuse, recognizing the diminishing value of America's promises. Yet, the Genius Act ensures these bonds remain in circulation through deceit.
Who props up this failing system? The Federal Reserve. Far from a neutral guardian, the Fed, neither federal nor holding reserves, prints fictitious money to purchase treasuries when global demand wanes. Is this legitimate financial management? Hardly. It's a Ponzi scheme where America loans itself nonexistent funds, paying itself interest. As the issuer of the global reserve currency, the US perpetuates the largest scam in history, with debt so vast that annual interest payments exceed the cost of its military. This money printing drives inflation, eroding purchasing power worldwide and punishing workers, savers, and those on fixed incomes.
How does the Genius Act amplify this fraud? It redefines stablecoins, once digital dollars backed one-to-one by cash, enabling efficient, permissionless transactions outside the slow Swift network. Does the Act preserve this freedom? No. It allows stablecoins to be backed by treasuries, turning them into tokenized US debt. With hundreds of billions in circulation, each coin absorbs more of America's debt. Unlike traditional treasury buyers, stablecoin holders receive no interest—the law prohibits it. What are they left with? Worthless digital IOUs, while the US reaps the benefits of this global deception.
Who executes this scam now? Private stable coin issuers, empowered by the Act to create "dollars" backed by treasuries, bypass the Federal Reserve entirely. Is this a step toward decentralization? Far from it—it's a transfer of fraud. These companies flood the world with America's debt disguised as currency. Every holder, from European executives to Asian vendors, unknowingly supports America's balance sheet, suffering the loss as their money's value erodes. Why should the world bear this burden? The Act ensures they do, allowing the US to dodge hyperinflation domestically by exporting its economic chaos.
What is the most alarming aspect of this scam? The potential for stablecoins to become a US-controlled central bank digital currency (CBDC). Could this happen overnight? Yes. Every transaction could be tracked, every wallet frozen, every token erased at Washington's discretion. Is this financial freedom? No—it's digital authoritarianism, ensnaring global users in a system they did not choose. From corporations to individuals, anyone holding stablecoins is trapped, funding America's debt without consent or reward.
Does this deception lack precedent? No. Russia has exposed the US for pushing its US$37.5 trillion debt into a "crypto cloud" to reset its financial obligations at the world's expense. This echoes 1971, when Nixon abandoned the gold standard, claiming it was temporary, only to leave global economies with devalued dollars after Vietnam War expenditures. Is the Genius Act any different? It's the same scam, now digitized, hidden within a law few noticed, designed to evade accountability.
What does this scam entail? An eightfold fraud: tokenized debt, zero-yield coins, a bypassed Fed, sidelined banks, exported inflation, and a CBDC trap—all concealed within the Act's framework. Is this mere regulation? No—it's monetary imperialism, forcing the world to pay for America's fiscal recklessness while cloaking it as progress. Stablecoins, marketed as stable, are anything but—they are tied to a collapsing financial system.
How can one escape this global scam? Can the dollar be trusted? No. Its value is undermined by America's own policies. One option is to adopt Bitcoin, a currency beyond Washington's control. Or, perhaps more secure, invest in physical gold—a tangible asset immune to digital manipulation. Why continue holding stablecoins? Doing so means funding America's debt with every transaction, perpetuating the scam. The choice is clear: remain complicit or break free before the system collapses.
The Genius Act is not innovation—it is a deliberate scam, weaponizing stablecoins to monetize debt, export inflation, and control global finance. The US is playing the world for fools, and awareness is the first step to resistance. Stay informed, question the system, and protect your financial sovereignty.
(Scriptwriting &Voiceover: Angelo Giulian; Video Editing: Jatin Lee; English Editor: Zoey SUN)
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Opinion | The Genius Act: America's cunning financial scam exposed
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