GENIUS Act - CLARITY Act - ASS Act

Alright, folks, grab your popcorn and settle in for a masterclass in American financial sleaze, where the U.S. government, drunk on its own dollar-printing power, is trying to pull a fast one on the world with stablecoins to dodge its $36 trillion debt disaster!!

This isn’t some nerdy crypto trend...it’s a caustic, in-your-face con to keep the world footing the bill for America’s economic mismanagement, all while waving shiny new laws like a used car salesman pushing a lemon.

The U.S. has spent decades printing fiat money like it’s Monopoly cash, forcing everyone from Tokyo to Timbuktu to swallow the inflation through the petrodollar and dollar-trading stranglehold. Now, with a debt pile that could buy a small planet, they’re scheming to shove that debt into stablecoins...yes you heard it right!! They're planning to shift the debt disguised as Digital dollars backed by U.S. Treasury bills...it would have been okay except that it's being done without so much as a courtesy call to the world that’s been buying their IOUs in the form of treasury bills!!

Let’s break down this scam in plain, sarcastic English, exposing how three new laws are the backbone of this hustle, each with a con as blatant as a fox guarding the henhouse.

For years, the U.S. has run the global finance game like a casino where they’re the house, and everyone else is forced to play.

They print dollars like there’s no tomorrow, funding wars, tax breaks for billionaires, and corporate bailouts, while the rest of the world eats the inflation.

Every time they crank up the printing press, your groceries in Mumbai or gas in Berlin get pricier, all because the dollar rules oil and trade.

The world’s been strong-armed into buying U.S. Treasury bills government IOUs to keep this racket going, and now those IOUs total a mind-boggling $36 trillion.

That’s what happens when “fiscal responsibility” is just a punchline in Washington. But the world’s getting fed up with buying America’s debt and many Nations now have sidetracked to trading in their own currencies...so insecure U.S. is now pivoting to stablecoins—crypto coins pegged to the dollar, supposedly backed by T-bills.

It's like promising your kid a dollar for every candy they buy, but you’re borrowing the cash from their piggy bank. The catch? They’re pushing three laws to make this happen, each one a slick move to keep the debt machine humming while the world’s left holding a potentially worthless bag of digital coins!!

First up is the GENIUS Act—Guiding and Establishing National Innovation for U.S. Stablecoins, because nothing says “genius” like dressing up a debt trap as progress. This bill, which breezed through the Senate in June 2025 with a smug 68-30 vote and is poised to charm the House, forces stablecoin issuers to back every digital buck with T-bills or other “safe” assets, puts big players under Federal Reserve oversight, and throws in some anti-money-laundering rules to look responsible. Sounds like they’re protecting you, right? Think again. The con is as obvious as a shady landlord demanding you pay rent in gift cards!

By mandating T-bill backing, the U.S. is creating a massive new market for its debt ,think $1.5 trillion in stablecoin demand soon, maybe $4 trillion in a decade, out of a $6 trillion T-bill market. Companies like Circle ($63 billion in USDC) and Tether ($159 billion in USDT) are already buying T-bills like they’re on sale, and this law will rope in more, like JPMorgan or even Trump’s sketchy World Liberty Financial with its $2.2 billion USD1.

What's funny is If these stablecoins crash—like TerraUSD did in 2022—you’re left with worthless digital coins, while the U.S. already cashed out on its debt sales!! It’s like lending your buddy $100 for a “sure thing” investment, only to find out he spent it on beer and you’re stuck with an IOU!!

Next, we’ve got the CLARITY Act, or the Digital Asset Market Clarity Act, which is about as clear as mud. Part of the July 2025 “Crypto Week” dog-and-pony show, this bill sorts out whether cryptocurrencies answer to the SEC or CFTC, making it easier for companies to dive into crypto without drowning in red tape. Yes, they've eliminated bureaucracy and the House is ready to rubber-stamp it, with crypto bros like Coinbase cheering from the cheap seats!!

But here’s the con, as blatant as a car dealer selling you a “low-mileage” clunker with a rolled-back odometer. By making crypto seem safe and investor-friendly, the U.S. lures more players—Visa, Mastercard, maybe even Amazon—into issuing stablecoins, all of which need T-bills to back them!!

That’s more debt the U.S. gets to sell without the world’s approval, propping up its $36 trillion mess while pretending it’s just “modernizing finance.” If those stablecoins tank, users like you lose everything, but the government’s already pocketed the cash from T-bill sales. It’s like buying concert tickets from a scalper, only to find out the show’s canceled and he’s long gone.

Then there’s the Anti-CBDC Surveillance State Act, which sounds like a patriotic stand against Big Brother but is really just another debt dodge.

This bill bans the Federal Reserve from issuing a central bank digital currency ...a government-run digital dollar...because why take responsibility when you can outsource the risk?

Guess what!! Both sides of the House loves it, with crypto-friendly lawmakers high-fiving each other for “protecting freedom.” The con here is as slick as a door-to-door salesman pushing fake Rolexes.

By blocking a CBDC, the U.S. pushes private companies like Circle, Tether, or Trump’s USD1 to flood the market with stablecoins, all backed by—you guessed it—T-bills.

This lets the government rake in billions from debt sales while private firms and their users take the hit if things go south.

Picture lending your neighbor your lawnmower, only for him to sell it and leave you mowing with a pair of scissors. If a stablecoin collapses, users are screwed, but the U.S. already got its debt funded, sipping coffee while the world scrambles.

This whole stablecoin push is America doubling down on its dollar monopoly, using crypto as a shiny new wrapper for the same old scam.

The GENIUS Act creates the debt pipeline, the CLARITY Act drags in more suckers, and the Anti-CBDC Act ensures private companies carry the risk while the U.S. keeps borrowing.YIPEE YAY!!

Companies like Circle, Tether, JPMorgan, and even Trump’s World Liberty Financial are jumping in, buying T-bills to back their coins and fueling America’s spending spree. The House’s blessing on these bills is like signing a blank check for the government to keep dodging its $36 trillion debt, while the world—stuck holding stablecoins faces the fallout if the system crashes.

It’s not innovation; it’s a hustle to make everyone else pay for America’s mistakes, all while they smirk and call it progress. So, next time you hear about stablecoins saving the economy, check your wallet—the U.S. is probably already picking your pocket!!

p.s. Originally posted on r/StableCoins and thought of sharing it on r/CC as well.