My background is in international finance, and therefore when I promise you that DAI cannot defend a virtual peg without holding large amounts of actual underly

My background is in international finance, and therefore when I promise you that DAI cannot defend a virtual peg without holding large amounts of actual underlying US treasuries or physical USD, I'm only making that promise because it's been true for every currency that has ever attempted to maintain a peg with the US dollar. Maybe it's "different this time" but I sincerely doubt it. I likewise encourage you to think about this from first principles and read up on the mechanics of a currency peg. You MUST be able to quickly sell T-bills on the market swiftly to defend your currency peg, otherwise you will see your currency break from the pegged range. DAI is shifting the reserves from directly holding USD or T-bills to holding USDC instead, which isn't the same thing as USD and WILL cause problems for DAI.