The Genius Act Was Built For This Exact Collapse | Here's Why Bitcoin Doesn't Need It! | Bitcoin Simply

**Dante Cook** (0:00)
The US government is admitting that they need capital and they need it quickly. Check this out. The United States Treasury just put out a press release along with this tweet from Scott Besant saying, they need to move quickly to implement the Genius Act framework. Why quickly? Why now?
Why so suddenly? The Genius Act was signed into law July 18th of 2025 Do you think that this has anything to do with global bond yields blowing up in every market across the world all at once?
I don't know. Are we in the Minsky moment that Paul Tudor Jones predicted two years ago? Paul Tudor Jones is one of the greatest investors of all time, and he predicted almost everything that is happening now would happen almost to a T.

**Paul Tudor Jones** (0:41)
Financial crises percolate for years, but they blow up in weeks.

**Dante Cook** (0:46)
Today, we're going to go back to this interview that happened nearly two years ago to inform us on exactly where we are today. The US government is backed into a corner. He laid out the perfect trade then, and what he was doing to position himself for the upcoming collapse in the US government debt markets that he predicted. This is Dante Cook with Bitcoin Simply. Let's go.
Scott Besson and the US Treasury just put out a message calling for public comments on the Genius Act framework. And my question is, why is this happening all of the sudden? The Genius Act was signed into law July 18th of 2025, and he says that we need to move quickly. With other sources saying that it needs to be implemented by January 18th of 2027 In his comment, he says the Genius Act will lay out a framework that will cement the US dollar as the global world reserve currency and also establish America as the crypto capital of the world. How can you do these two things simultaneously? Well, the only reason that I see that this is needed and this is necessary is because of the debt situation right now in the United States. The United States government no longer has the amount of buyers that are buying both short-term treasuries and long-term treasuries at over 5%.
And so how do you accomplish both of these goals at the same time? Well, you implement a framework that has stable coins on top of US treasuries, which is exactly what these stable coins do. For every stable coin that's out there, they're back one-to-one with a short-term US Treasury or T-bill, which in effect raises debt and money for the US government. With the 30-year bond at 5.3%, it's basically saying that the market doesn't trust the US government to pay back on its obligations. And this is what Paul Tudor Jones said would happen, almost two years ago.

**Paul Tudor Jones** (2:27)
Let's assume that I'm making 100,000 bucks a year. You've lent me, because we're such great friends, $700,000.
That's what you've lent me. And I come to you and say, okay, Andrew, I'm gonna pay all that back to you in 30 years. But between now and when I ultimately pay you back, I want to borrow $40,000 every year for the next 30 years. And at the end of 30 years, I'm gonna pay the whole thing back. Would you lend me that money?

**Dante Cook** (3:01)
Unlikely.

**Paul Tudor Jones** (3:02)
You son of a bitch. I thought you were my friend.

**Dante Cook** (3:07)
Well, this is the problem that we have.

**Paul Tudor Jones** (3:08)
Okay, so that's actually the proposition that the US government makes to every bond holder today. That's the exact same proposition. So, think about this. We owe 35 trillion.
Our tax take is 5 trillion. So, we owe 7 times what our tax take will be this year. Our revenues will be this year. And our deficit is 2 trillion. And it's 2 trillion right now, as far as the eye can see.
That is literally the proposition that someone that the US government is making to someone who buys a 30 year bond.

**Dante Cook** (3:49)
Global markets are saying that we no longer want to accept reasonable rates for financing another country's debt. They're coming to the reality that we can no longer fake it in these markets. We can't play the game anymore. The scripted game. The game of television that we're all a part of. This reality TV show that's asking for our comment and our questions but really, they're just running the play that they always would have at any time. We just needed to suspend our disbelief. And this is what he calls the Minsky moment.

**Paul Tudor Jones** (4:16)