Putin Adviser Accuses US of Debt Manipulation 🌍
Anton Kobyakov, an adviser to Russian President Vladimir Putin, has alleged that the United States is strategically leveraging stablecoins and gold to devalue its massive $37 trillion national debt.
Speaking at the Eastern Economic Forum in Vladivostok, Kobyakov said the US is attempting to “rewrite the rules of the gold and cryptocurrency markets” to restore trust in the dollar. He likened today’s strategy to historical precedents in the 1930s and 1970s, where financial crises were addressed at the expense of the global economy.
Stablecoins and the “Crypto Cloud” ☁️
Kobyakov claimed Washington could move its debt into USD-backed stablecoins, effectively resetting its balance sheet. While he didn’t detail how this would devalue debt, the idea aligns with growing US initiatives around stablecoins.
One example is Senator Cynthia Lummis’ Bitcoin Act, which proposes the government purchase 1 million BTC over five years, holding it long-term or using it to pay down federal debt.
America’s Debt Keeps Climbing 📈
According to the US Treasury, national debt now sits at $37.43 trillion, a tenfold increase since 1981. By comparison, debt levels remained steady at around $3.5 trillion from 1948 to 1981.
Such growth fuels speculation that the US might seek unconventional tools — like crypto and stablecoins — to sustain its position as the world’s financial leader.
Stablecoins as a Geopolitical Tool 💵
US officials frame stablecoins not only as a financial innovation but also as a geopolitical weapon. Treasury Secretary Scott Bessent emphasized in March that stablecoins will help ensure the dollar remains dominant globally.
Former House Speaker Paul Ryan added that dollar-backed stablecoins could boost demand for US debt and counter China’s growing financial influence. In July 2024, President Trump signed the GENIUS Act, laying the foundation for a national stablecoin framework.
Russia Eyes Its Own Stablecoin 🇷🇺
Moscow is also moving toward stablecoin adoption. Russian media reported in June that a ruble-backed stablecoin (A7A5) will launch on Tron, aiming to reduce reliance on USDT, which Russia has used in oil trades with China and India.
Although Russia banned crypto payments in 2022, recent policy shifts have allowed accredited investors to access crypto-based products, showing a slow but steady opening to digital assets.
Final Thoughts 🚀
The clash over stablecoins and gold underscores how deeply crypto is entering global geopolitics. Whether the US is truly using these tools to offset its debt, or simply to maintain dollar dominance, one thing is clear: stablecoins are becoming central to the future of finance.
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