Crypto Cloud Strategy: US Aims to Reset $35T Debt Amid Dollar Doubts

At an economic forum in Vladivostok, Anton Kobyakov, a senior advisor to Russian President Vladimir Putin, alleged that the United States may be attempting to eliminate its $35 trillion national debt by leveraging gold and cryptocurrencies to reshape the global financial system. Kobyakov suggested that such a move would come at the expense of other nations that still rely heavily on the US dollar, potentially reshaping global economic dynamics and challenging the dollar’s central role in international finance [1]. His remarks were made during a final press briefing at the Eastern Economic Forum in Vladivostok [2].

Kobyakov emphasized that the US is working to restructure the rules governing the gold and cryptocurrency markets, framing these as alternatives to the traditional global currency system. He pointed to the growing skepticism toward the US dollar, a trend he believes Washington is actively trying to counter by shifting its debt into digital assets. Specifically, Kobyakov argued that the US could transfer its $35 trillion currency debt into stablecoins, a process he described as placing it in a “crypto cloud” for devaluation and eventual resetting [2]. This strategy, he suggested, could allow the US to address the waning trust in the dollar without directly acknowledging or confronting the underlying fiscal challenges [1].

The idea is not entirely speculative, given recent US policy developments. New legislation, such as the GENIUS Act signed into law in July, has provided a regulatory framework for the issuance and trading of stablecoins. These measures reflect a broader shift in the US government’s approach to digital assets, with officials increasingly open to their use in national economic planning [2]. While Kobyakov did not confirm any specific plans to offload debt through crypto, the trend suggests that such tools are now being considered in high-level discussions [1].

Russia, however, is not standing idly by. Like the US, it is exploring the integration of stablecoins into its financial system, with reports indicating that a state-owned weapons manufacturer is working on a ruble-backed stablecoin on the Tron blockchain. This signals a parallel global trend where governments are increasingly viewing digital assets as part of their economic infrastructure [2]. Despite Kobyakov’s criticism of US intentions, his comments underscore a broader international shift toward rethinking the role of traditional currencies in favor of alternative systems [1].

The potential implications of such a shift are significant. If the US were to transition its debt into digital form, it could trigger a revaluation of how global markets perceive and respond to sovereign debt. The dollar’s position as the world’s primary reserve currency could be challenged, potentially leading to a realignment of international financial systems. While Kobyakov’s remarks remain speculative, they highlight the growing role of cryptocurrencies in geopolitical and economic strategies, particularly as nations seek new ways to manage debt and maintain control over their financial systems [1].

Source:

[1] Putin Adviser Accuses US of Using Crypto to Offload $35T Debt (https://finance.yahoo.com/news/putin-adviser-accuses-us-using-022953212.html)

[2] Putin Advisor Accuses US of Using Crypto, Gold to Escape Debt (https://finance.yahoo.com/news/putin-advisor-accuses-us-using-214522644.html)