{"id":48567,"date":"2025-09-09T09:55:05","date_gmt":"2025-09-09T02:55:05","guid":{"rendered":"https:\/\/hbbgroup.net\/putin-adviser-claims-us-using-stablecoins-gold-to-devalue-its-37t-debt\/"},"modified":"2025-09-09T09:55:05","modified_gmt":"2025-09-09T02:55:05","slug":"putin-adviser-claims-us-using-stablecoins-gold-to-devalue-its-37t-debt","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/putin-adviser-claims-us-using-stablecoins-gold-to-devalue-its-37t-debt\/","title":{"rendered":"Putin adviser claims US using stablecoins, gold to devalue its $37T debt"},"content":{"rendered":"
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An adviser to Russian President Vladimir Putin said the US is strategically using crypto and gold to devalue its debt to \u201curgently address the declining trust in the dollar.\u201d<\/p>\n

\u201cThe US is now trying to rewrite the rules of the gold and cryptocurrency markets. Remember the size of their debt \u2014 $35 trillion. These two sectors (crypto and gold) are essentially alternatives to the traditional global currency system,\u201d Anton Kobyakov said<\/a> at a press briefing on Monday at the Eastern Economic Forum in Vladivostok, Russia, as reported by RussiaDirect. <\/p>\n

\u201cAs in the 1930s and the 1970s, the US plans to solve its financial problems at the world\u2019s expense \u2014 this time by pushing everyone into the \u2018crypto cloud,\u2019\u201d Kobyakov said.\u00a0<\/p>\n

This would involve Washington moving its debt into US dollar stablecoins to devalue it, allowing the US to \u201cstart from scratch,\u201d Kobyakov said, without explaining how stablecoins would actually devalue the debt.<\/p>\n

One of the proposed implementations of the strategy is Senator Cynthia Lummis\u2019 Bitcoin Act<\/a>, which proposes the government buy 1 million Bitcoin over five years and hold it for 20 years unless it\u2019s used to retire outstanding federal debt.<\/p>\n

America\u2019s debt problem isn\u2019t slowing down<\/h2>\n

US national debt sits at $37.43 trillion \u2014 more than a 10-fold increase since 1981 \u2014 according<\/a> to US Treasury data. In the 33 years before 1981, US debt held steady between $3.3 trillion and $3.66 trillion.<\/p>\n

US national debt. Source: <\/em>US Treasury<\/em><\/a><\/figcaption><\/figure>\n

The US wants to use stablecoins for other political reasons<\/h2>\n

However, according to US officials,<\/a> stablecoins focus more on ensuring that the US dollar remains the world\u2019s dominant currency.<\/a> \u201cWe will use stablecoins to do that,\u201d US Treasury Secretary Scott Bessent said in March.<\/p>\n

Stablecoins may also drive demand for US debt instruments,<\/a> which would reduce the risk of a failed debt auction and an attendant crisis, former House Speaker Paul Ryan said in July 2024.<\/p>\n

\u201cStablecoins backed by dollars provide demand for U.S. public debt and a way to keep up with China.\u201d<\/p><\/blockquote>\n

The US has made considerable progress since then, with President Donald Trump signing<\/a> the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) into law in July.<\/p>\n

Russia has stablecoin plans, too<\/h2>\n

In June, Russian state media reported that a new Russian ruble-backed stablecoin<\/a> \u2014\u00a0 A7A5 \u2014 was in the works and would launch on Tron.<\/p>\n

Related: <\/strong><\/em>Largest NPM attack in crypto history stole less than $50: SEAL<\/strong><\/em><\/a><\/p>\n

It appears to be a move to reduce reliance on US dollar stablecoin Tether (USDT<\/a>), which Russia has used to settle oil trades with China and India.<\/a><\/p>\n

Although Russia banned crypto payments in 2022, it has become more open to the sector lately, permitting financial institutions to offer crypto-based products<\/a> to accredited investors in May.<\/p>\n

Magazine: <\/strong><\/em>Astrology could make you a better crypto trader: It has been foretold<\/strong><\/em><\/a><\/p>\n