Putin's advisor Kobyakov accused: The United States is planning an "encryption strategy" to eliminate 35 trillion dollars in national debt.

Dmitry Kobyakov, an advisor to Russian President Vladimir Putin, accused the United States of plotting a "crypto strategy" aimed at eliminating its $35 trillion national debt by manipulating stablecoins. At the Eastern Economic Forum held on September 6, Kobyakov claimed that in the face of declining confidence in the dollar, Washington is trying to use Crypto Assets as an alternative to the traditional currency system, thus "rewriting the rules of gold and the crypto market."

Core Accusation: Transferring National Debt to "Crypto Cloud" and Depreciating it

Kobiyakov compared the U.S. plan to the historical debt strategies of the 1930s and 1970s, arguing that the U.S. intends to solve its own financial problems "at the expense of the world." He described a multi-stage process: the U.S. will first transfer its monetary debts into crypto tools, and then achieve debt devaluation by manipulating these digital assets, thereby wiping out sovereign debt.

He stated: "They have $35 trillion in monetary debt, and they will transfer it to 'crypto cloud', then devalue it - and start over."

Kobyakov believes that despite the fact that the GENIUS Act was signed into law by President Donald Trump in July, creating a regulatory framework for these dollar-pegged tokens, it is not a technological innovation, but rather a strategic tool aimed at achieving its debt management goals. He warned that the global enthusiasm for Crypto Assets is facilitating Washington's so-called financial restructuring plan.

Geopolitical Background and Russia's Position

The Eastern Economic Forum, as a major platform for Russia to discuss Asia-Pacific economic cooperation and alternative financial systems, reflects the long-standing criticism from Russia regarding U.S. monetary policy and dollar hegemony, as expressed by Kobyakov.

These accusations align with the narrative of Russia challenging Western financial infrastructure following international sanctions. Since 2014, Russia has been promoting alternative payment systems and criticizing the dollar-based settlement mechanism. Kobyakov's remarks also reflect the broader tensions faced by the global financial architecture as countries around the world explore central bank digital currencies and alternative monetary systems.

Conclusion

Kobyakov's accusations place the issues of stablecoins and U.S. Treasury bonds at the heart of geopolitical conflicts, adding a new dimension to an already complex global financial landscape. Although these claims have yet to be confirmed, they reflect the increasing competition for global financial hegemony among major powers. In the context of the rapid development of digital assets, this debate highlights that encryption technology is not only a financial innovation but also a strategic tool that countries can utilize in their pursuit of a new balance of power and alternative financial infrastructure.