Pal says Bessent wants stablecoins scaled into multi-trillion dollar buyers of T-bills

What was said

"Scott Besson has said, "Well, this is where the liquidity for our debt is going to come from. We want to get to a trillion, two trillion, three trillion of stable coins." Why? Because it means that US dominance of currency goes to the end person in the rice field in the Philippines where they're holding dollars in stable coins."

Raoul Pal claimed US Treasury Secretary Scott Bessent is backing stablecoin growth to $1–3 trillion, partly to create a large, steady buyer base for short-term US government debt. Pal described stablecoins as an “economic weapon” that extends dollar usage directly to end-users globally.