The advisor to Russian President Vladimir Putin, Dmitry Kobyakov, has made a startling accusation against the United States, claiming that the country is orchestrating a crypto strategy to eliminate its $35 trillion debt by manipulating stablecoins. This claim was made during his speech at the Eastern Economic Forum on September 6, where Kobyakov alleged that Washington aims to “rewrite the rules of gold and crypto markets” as alternatives to traditional currency systems, while also addressing the decreasing trust in the dollar.
The Debt Problem
Kobyakov’s accusations are rooted in historical US debt strategies from the 1930s and 1970s, which he argues demonstrate America’s plans to solve financial problems “at the expense of the world.” He explained that the United States intends to transfer its currency debts to crypto instruments before implementing devaluation, effectively removing sovereign obligations by manipulating digital assets. This multi-stage process, according to Kobyakov, is a conscious scheme to eliminate the $35 trillion debt.
The advisor described the process as follows: “You have a currency debt of $35 trillion, you will move them to the crypto cloud, devalue them – and start over.” This statement reflects the ongoing Russian criticism of US monetary policy and dollar dominance, as well as the country’s exploration of alternative financial systems.
Global Implications
Kobyakov’s claims have significant implications for the global financial architecture, particularly in the context of digital currencies and alternative payment systems. The promotion of stablecoins, which are backed by flourishing regulation in the United States, has sparked global interest in these assets. However, Kobyakov positioned the introduction of crypto as a strategic instrument rather than a technological innovation, suggesting that the US promotion of digital assets serves debt management objectives.
The Eastern Economic Forum, where Kobyakov made his statements, serves as a primary platform for Russia to discuss economic cooperation in the Asian-Pacific region and alternative financial systems. The allegations correspond to Russian narratives that question the western financial infrastructure, according to international sanctions. Moscow has promoted alternative payment systems since 2014 and has criticized short-based comparison mechanisms.
Expert Insights
Experts in the field of economics and finance have weighed in on Kobyakov’s claims, providing context and analysis on the potential implications of the US debt strategy. While some argue that the introduction of stablecoins is a positive development for the global financial system, others are more skeptical, citing concerns about the potential for manipulation and devaluation.
As the global economy continues to evolve, it is essential to consider the potential implications of the US debt strategy and the role of stablecoins in the financial system. For more information on this topic, readers can refer to the original article on Cryptoslate.
