alt Hacker NewsArgentina got there with huge tariffs and excessive spending. Good thing the US would never do crazy stuff like that, right? Also the US government is currently debasing USD to increase exports as well as instituting currency controls. There's lots of reasons to be concerned about relying on USD.
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but stablecoins are usually pegged to the dollar, right?
I'm no fan of the current US administration, however I have questions about this.
What currency controls have been implemented? A cursory search turns up no results, though there is some speculation that capital controls could be coming, they never the less haven't materialized, at least in such a way that no credible news outlet has plainly stated it.
The debasing of the USD is again, a fear, and Trump is absolutely stoking the fire around it, but it hasn't actually happened, as far as I can tell.
If you have evidence of the contrary to either of these I'm quite curious to see it. I wouldn't put it past this administration in the slightest, but there is a difference between implementing them and talking about them and for correctness sake I want to understand.
Argentina has debt in foreign denominated bonds though - the US (and UK, Japan, Canada, Australia, NZ, etc.) don't, only issuing bonds in their own currency, which makes a massive difference.
Not to say that Trump isn't wreaking economic havoc and madness, but the USD is resting on a far stronger base than somewhere like Argentina.
FYI, when people talk about stablecoins, they usually mean fiat-backed stablecoins, which are coins that are expected to maintain the same exchange rate against fiat currencies, and which is usually just USD. Some literally have 'USD' in their names.
> There's lots of reasons to be concerned about relying on USD.
So no, even if this statement is true it's irrelevant to this thread.