You all never take in account that in fact collateral is not excluded from circulation and until no critical demand on it from stablecoin holders this collateral can participate in economy partly or even completely thus multiplying a total money supply
All u can do here is to just believe the coin issuer doesnt do that
That doesn't apply to all stablecoins and doesn't justify creating valueless tokens. Sure, some of them probably create worthless tokens without much backing. But others have ways to keep the value pegged, even if the collateral isn't completely locked up or frozen. The issuers put controls in place so they cant just take the collateral and print more money whenever they feel like it. The assets are supposed to be there as a safety net if people start cashing out the stablecoin all at once. That way the value stays steady.
And in my case you are sure that collateral is really excluded
But in your case it makes even less sense. Burning real assets to mint tokens with nothing behind them? You'd be destroying value to make something with no value. Maybe I'm missing something, but what's the point of that?