【The 'virtual currency linked to US debt' policy promoted by the Trump administration is placed within the framework of political and economic games. By combining the analytical logic of gold stability and Bitcoin stability, this systematically deduces its strategic intentions, implementation paths, risk contradictions, and global impacts Four】

Four, the reconstruction effect of the global pattern: New colonialism and accelerated de-dollarization

1. The 'double-edged sword' of dollar hegemony 3.0

Positive aspect: Stablecoins reduce SWIFT costs and penetrate developing countries (for example, unbanked individuals in Africa holding USDT on their phones), expanding the underlying use of the dollar.

Negative aspect: The EU and Hong Kong accelerate legislation to support euro/HKD stablecoins, while China's CIPS trading volume is projected to surge by 63% in 2025, promoting the internationalization of the renminbi as a hedge.

2. Globalization of the debt crisis transfer

New dependency system: The US exports dollar liquidity through stablecoins, forcing emerging markets to hold US debt reserves (for example, citizens of Turkey and Argentina hoarding USDT for hedging), recreating dependence on 'petrodollars.'

Interest rate policy hijacking: Trump pressures the Federal Reserve to cut interest rates; if successful, it will lower US debt yields, but the demand for stablecoins can partially offset overseas sell-offs, maintaining the illusion of debt sustainability.