A theory that Washington could use an AI crash to push Americans toward digital dollars and offload US debt onto ordinary people — bad news for everyday savers if it plays out, though it is unlikely to work.

• The US owes $40 trillion, and Washington is looking for ways to refinance that debt.
• Stablecoins like Circle and Tether are backed by US Treasuries, so buying them means indirectly buying government debt.
• The idea is to get retail buyers around the world to hold that debt through crypto, easing the government's burden.
• An AI bubble burst could be the trigger that pushes people into these digital dollars.

Outlook: The scheme probably won't solve the debt problem, but expect stablecoins to keep growing as a channel for Treasury demand.