there is no accurate data that states that the USD issued by the Bank of America is reserved in USDT and USDC ... as far as I know the USD that has been launched is usually used in the American economy and also international transactions,,, because basically many countries need USD for their transactions
In fact it is. Starting from Jan 2021:
$45B of USDC was printed (
https://coinmarketcap.com/currencies/usd-coin/), and around $55B in usdt(
https://coinmarketcap.com/currencies/tether/). Total $100B. While m2 money suppply of USD pumped from $19.4T to $21.8t - $2 400B
https://fred.stlouisfed.org/series/M2SLSo only 4% of newly printed money went to stable coins. Assuming that none on existing USD were converted into stable coins (which is not correct)
And thats USD only. Other countries were printing too. for example ECB.
So OP is wrong. Only small fraction was converted to USDC and USDT.