[panarky]

Maybe they'll replace ACH with Tether. It would suck to extract even more public wealth to oligarchs, but no tears will be shed for ACH.

Zoom out.

If the goal is to stop cooperating with other nations to remove any restraint on oligarchs, imposing punitive tariffs on your closest allies makes perfect sense. So does trashing all multilateral institutions from the UN to NATO, the EU to the World Health Organization.

You know that other nations will fight back so just as in conventional warfare, you reserve an unconventional capability.

The nuclear option in trade war is to renege on your debts. Congress probably wouldn't go along with selective default on Treasury bonds, but if your engineers control the Treasury payment system, you have fine-grained control of who gets their interest and principal repaid and who doesn't. Declare an emergency and wage economic war.

Sure, interest rates will skyrocket and the dollar will devalue, but that's what you want, right? A lower dollar helps you win the trade war and you can blame the "terrorist" countries for it instead of taking any responsibility for breaking the financial system.

Disaster capitalism at its most exquisite.