GM. Sovereign Bonds died with the scamdemic. Debasement is obvious and loud. The velocity with which fiat money globally loses purchasing power, is increasing. Tether is opening up a trap for the populace of other nations with dollar stablecoins, which preserves purchasing power much better than their local currency, but still fails against bitcoin. Tether is an “end-around” for the lack of sovereign bond appetite, appealing instead directly to the people. Fiat will live until we reach 10 sats/ dollar.