Putin adviser claims US using stablecoins, gold to devalue its $37T debt

[DrBeer]

It should be noted that this propaganda, and ancient narratives from the series “the dollar is worthless,” “the Western world is doomed,” flooded the media after Russia itself, with a “military budget” that is destroying its economy, began selling off its gold reserves in an attempt to prop up its collapsing economy. Coincidence? I don't think so!

Most of it is just hate from the US, and that made them not be objective. They believe and see what they want to see. It's funny how people talk about the USD going to shit and how the US and the West are going to shit, but the Oligarchs have their investments in USD and their families in the West and Western schools.
I get it, though, it's just two extreme parties.

The US and the USD have been "collapsing" for years, according to some people, yet they are still standing here today.  Things are often exaggerated, by both parties actually; the side against the dollar and the side for the dollar.

I still remember the USSR Back then, from childhood, even in elementary school, they constantly drummed into our heads that the Western world, the world of capitalism, would soon collapse. We even had a specialized class called “political information,” where we had to prepare, WITHOUT FAIL:
- 2-3 news articles from newspapers about how bad life is in Western countries
- 2-3 news articles about the “wonderful” life in the USSR
This was so that everyone would absorb the narrative from an early age: the West is degradation and collapse, while the USSR and the Communist Party of the Soviet Union are a wonderful life and development. But to prevent the narratives from collapsing, it was absolutely impossible for an ordinary resident of the USSR to travel to another country, especially a Western one

[Renampun]

I don't think that Bitcoin can be so significant as to be able to devalue such a large US debt, because in terms of marketcap alone Bitcoin is only around $1.8 trillion USD, and that's only if they are able to hold all the existing Bitcoins, which is impossible. and if they use gold, currently the gold reserves they have are only around $1 trillion USD, it's still far from the amount of debt they have to bear. so I think if they wanted to use assets like Bitcoin or gold as a tool for the devalue of their huge debt it would be very unrealistic, whereas on the other hand their debt continues to increase. so I think that what Putin's adviser said were just empty words.

[Satofan44]

It's quite unreasonable to invite Gavin to CIA if Satoshi Nakamoto is a CIA.
Gavin will visit the CIA.

If Bitcoin was created by CIA, the US. would lead the Bitcoin mining industry and did not give China many years for dominating Bitcoin mining industry. It is a theory that can be interesting with many people but I see it lacks of enough evidence and logic.

Don't worry, some idiot that spends too much time on Netflix will claim that they did this on purpose in order to mislead the population that it was not made by the CIA/US.  \

tricky dick nixon started the devaluation of the dollar. he took the usa 🇺🇸 off the gold standard. cut the taxes for the rich and grew the deficit quicker if you look at the charts for the us deficit they just moon once nixon got in. the dollar has suffered huge shrinkage since 1970.

Yes, this is the key moment that started destroying the currency and enriching the wealthy at the expense of the others. If you look at the charts, shortly after this is when productivity and wages stopped being correlated and real wages started to stagnate. This is an issue that goes beyond any party.

Stablecoins are now forced by legislation to buy US treasury bills. So yeah, stablecoins are buying us debt.

This can help US a little bit, but wont solve the debt problem

What people often forget is that there is no good way out of a debt-based economy once the debt becomes very high which is already the case in most economies. There are only three real ways out:
1) Extreme austerity measures for a long period of time. Very politically unpopular, will damage the economy too and potential lead to complete chaos.
2) Hyperinflate to pay back debt, this will cause the collapse of the currency.
3) Complete reset/abandonment of the currency or current system (central banks). Also extremely chaotic/unfavorable.

For now what they have been doing is postponing dealing with the issue while the problem continues to become bigger and bigger.

They will break the dollar the question is

2030
 2040
2050
 2060

But it is going to happen

Yes.

There is a saying, “It's easier to break than to build.”
Okay, let's assume that someone manages to break the dollar as the main currency of the global economy.
Here are a couple of questions:
1. Who really needs this?
2. What is the real goal?
3. What are the benefits?
4. And the key question: WHAT WILL REPLACE the dollar?

I look forward to hearing your well-reasoned answers!

It seems that you don't understand that there are only two outcomes of not doing this:
1) Complete bankruptcy: As interest and debt payments become an increasing percent of the annual budget a government/country will increasingly come close to a complete bankruptcy. In any case it will be harder and harder to govern with an increasingly shrinking budget.
2) Hyperinflation: To avoid a complete bankruptcy they could hyperinflate the currency to pay back the debts (which would cause a currency collapse as I have said).

As you see every road leads to a completely chaotic situation unless they actually do something else to deal with this.

Why would anyone with a half-decent brain give a shit about what some random Putin adviser says about the US economy? They have enough problems as it is these days which is why this is all pointless stuff.

Their debt will continue rising with time unless they take drastic measures to cut it while Orange man will keep trying to devalue the dollar itself through his braindead decisions.

?
 

He probably has more to say than us the plebs in BitcoinTalk, no? WHO are WE to say such things as you said? We should know our place and never act like arrogant assholes.

  ¯\_(ツ)_/¯

Most people are like this online these days, especially against people like Putin -- the media have programmed these "independent thinkers" to hate him. Putin is probably smarter than their entire bloodline and has accomplished more in 1 tenure than everyone they know combined. But hey, let internet warriors believe that they are more than a meaningless speck of dust on Earth.  

  ¯\_(ツ)_/¯   ¯\_(ツ)_/¯

[DrBeer]

There is a saying, “It's easier to break than to build.”
Okay, let's assume that someone manages to break the dollar as the main currency of the global economy.
Here are a couple of questions:
1. Who really needs this?
2. What is the real goal?
3. What are the benefits?
4. And the key question: WHAT WILL REPLACE the dollar?

I look forward to hearing your well-reasoned answers!

It seems that you don't understand that there are only two outcomes of not doing this:
1) Complete bankruptcy: As interest and debt payments become an increasing percent of the annual budget a government/country will increasingly come close to a complete bankruptcy. In any case it will be harder and harder to govern with an increasingly shrinking budget.
2) Hyperinflation: To avoid a complete bankruptcy they could hyperinflate the currency to pay back the debts (which would cause a currency collapse as I have said).

As you see every road leads to a completely chaotic situation unless they actually do something else to deal with this.

It seems like you have a vivid imagination
Complete bankruptcy? Are you serious? Then describe the scenario of this fantasy? You probably just don't quite understand how the economy works, how much other countries owe the US, and what role the US and the dollar play in the global economy.

Hyperinflation? Are you serious again? Also, describe the scenario.

As I  already wrote, I've been listening to this nonsense for almost half a century, starting with the Soviet Union. But... so far, only the Soviet Union has collapsed, and it looks like its pathetic parody, Russia, will soon collapse as well.

...Putin is probably smarter than their entire bloodline and has accomplished more in 1 tenure than everyone they know combined.

But here's something very interesting — please describe the ACHIEVEMENTS. That is, what has been achieved “from scratch” without using the reserves and achievements of the USSR — it will be very interesting to hear from you!

[el kaka22]

Devaluing dollar against gold and crypto just so they could have their debt paid is not really good for USA, so this Russian dude is do not know what he is talking about, this isn't something that benefits USA, sure it doesn't benefit others neither, but dollar being strong helps USA and not hurts them. Devalue USD just so they can easily pay their debt is a short term solution that creates a very big long term problem, that is not going to happen.

Plus, Trump is stupid enough to attempt to do this kind of thing, but it requires everyone in the nation to help. They could have cut the rates short to a very small level, like very little, just to make this quicker, or even could have made it super high and bankrupt most banks to make it quick too.

[DrBeer]

Devaluing dollar against gold and crypto just so they could have their debt paid is not really good for USA, so this Russian dude is do not know what he is talking about, this isn't something that benefits USA, sure it doesn't benefit others neither, but dollar being strong helps USA and not hurts them. Devalue USD just so they can easily pay their debt is a short term solution that creates a very big long term problem, that is not going to happen.

Plus, Trump is stupid enough to attempt to do this kind of thing, but it requires everyone in the nation to help. They could have cut the rates short to a very small level, like very little, just to make this quicker, or even could have made it super high and bankrupt most banks to make it quick too.

Russia, as the heir to the ideology of the USSR, will monotonously repeat “the dollar is worthless, the West is falling apart” until its collapse. Until it realizes that it itself has rotted and degenerated, and that the republics that were forcibly incorporated into Russia no longer want to support and serve Moscow at the expense of their own resources. This happened to the USSR, and Russia is repeating the same path.