A senior advisor to Russian President Vladimir Putin has warned that the United States is plotting to use cryptocurrency to wipe out its massive $35 trillion national debt at the expense of the rest of the world.
Anton Kobyakov issued the warning during the Eastern Economic Forum in Vladivostok, as BRICS leaders convened an emergency virtual summit to address escalating trade tensions with Washington.
The high-level meeting, called by Brazil, began at 9:00 a.m. Brasília time (3:00 p.m. EAT) on Monday, September 7, following new tariffs imposed by President Donald Trump’s administration on key BRICS economies.
The US has devised a CRYPTO scheme to erase its massive $35 trillion debt at the world’s expense. America right now is trying to change the rules on the gold and cryptocurrency markets.
Remember what debt they have? 35 trillion dollars. In general, these are two alternative currencies for a world market segment of currencies.
Washington’s actions in this direction clearly demonstrate one of the main American tasks. They really want to solve the problem of reducing trust in the dollar,” Kobyakov said.
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Putin Advisor on Earlier US Moves
Additionally, Kobyakov drew parallels with earlier eras when the US made drastic moves to shore up its finances.
In the 1930s, during the Great Depression, Washington abandoned the gold standard to stabilize the economy, reshaping global monetary dynamics.
In the 1970s, the US again shifted course by severing the dollar’s final link to gold under President Richard Nixon, ushering in the current system of fiat currencies.
“As it was in the 30s and 70s, the US plans to solve its financial problems at the world’s expense. Pushing everyone into the cryptocurrency cloud.
“Over time, once part of the US national debt is placed into stablecoins, Washington will devalue that debt,” he warned.
According to Kobyakov, Washington is now preparing a similar reset, this time through digital assets.
“In simple words, they have now a 35 trillion dollar monetary debt. They’ll move it into the crypto cloud, devalue it, and start from scratch. This is for those who really love to do cryptocurrency.”
Also Read: Is This the End of US Dollar Dominance? China, India Take Steps to Trade in Their Own Currencies
The US Debt Dilemma
The US national debt has been a source of concern, exceeding $35 trillion, the highest in its history.
Consequently, rising borrowing costs, political gridlock over fiscal policy, and expanding federal deficits have fueled debate on how sustainable America’s financial path really is.
If confidence in US Treasuries falters, the shockwaves would ripple through global financial markets, affecting everything from trade to investment flows.
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