Since Moscow, accusations have multiplied. A close advisor to Vladimir Putin says Washington uses stablecoins and gold to lighten the overwhelming weight of a public debt which now crosses $ 37,000 billion. A strategy which, if it was confirmed, could upset the balance of global finance.
In short
- American debt reaches a historic level of $ 37,430 billion.
- A Putin advisor accuses Washington of using Stablecoins and Gold to bypass the dollar crisis.
- The United States wants to strengthen the domination of the greenback via the stablecoins backed by the dollar.
- China is gradually turning away from American debt, for the benefit of gold and other active ingredients.
Washington in the fire of the Russian accusations
Anton Kobyakov, adviser to the Russian president, launched a frontal charge on the American monetary strategy on Monday.
During the Vladivostok Eastern Economic Forum, he said the United States is trying to rewrite gold and cryptocurrency rules. For him, this approach aims to remedy an urgent need to lower confidence in the dollar.
The Russian official establishes a striking parallel with past crises. “” As in the 1930s and 1970s, the United States planned to solve its financial problems at the expense of the whole world, this time by pushing everyone to the “Cloud Crypto” He says. Washington pushes according to him ” Everyone in the cryptographic cloud ».
The thesis put forward by Kobyakov is simple: by transferring part of their debt to stablecoins backed by the dollar, the United States would manage to devalue its real value. A kind of financial reset, offering Washington the possibility of “starting from scratch”.
However, the Russian advisor has not detailed the technical mechanisms that would allow such an operation, leaving doubt about the feasibility of this scenario.
The scale of the challenge is dizzying. The American national debt now reaches $ 37,430 billion according to the Treasury data. This amount represents more than ten times the 1981 level. An climbing that accelerates: out of the 33 years preceding 1981, this debt oscillated between 3,300 and 3,660 billion.
Stablecoins, new American geopolitical weapon
US officials deliver a very different reading of this strategy combining crypto and debt. For Washington, Stablecoins are not a devaluation tool, but a bulwark intended to preserve the world domination of the dollar.
“” We will maintain the US dollar as a dominant reserve currency in the world and we will use stablecoins to achieve it “Says the secretary of the Treasury, Scott Bessent.
This vision finds a concrete echo in the Bitcoin law of senator Cynthia Lummis. The text provides for the government's acquisition of one million bitcoins over five years. These assets would be kept for two decades, unless use to reimburse the federal debt.
The former president of the House of Representatives Paul Ryan underlined in July 2024 another advantage of the Stablecoins. For him, the stablecoins backed by the US dollar create a demand for American public debt and allow a competitive advantage to China. They also reduce the risk of failure during debt auction, thus avoiding a potential crisis.
The strategy was consolidated this summer with the signing by Donald Trump of the Genius Act, a law that frames and structures the emission of stablecoins backed by the dollar. Washington thus intends to institutionalize a tool capable of extending the domination of the greenback.
In response, Moscow is preparing its own counter-offensive: the launch of A7A5, a stablecoin leaning against the ruble and issued on the Tron blockchain. Objective displayed: reduce TETHER dependence (USDT). This initiative is part of a broader dynamic of dedollarization already initiated by Beijing, which is gradually turning away from treasury bills for the benefit of gold and alternative assets.
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