0:02 So, at the recent Eastern Economic Forum
0:05 in Russia, one of Vladimir Putin's
0:07 closest advisers said something that got
0:24 He said the United States is preparing
0:26 to use crypto and stable coins to
0:31 secretly devalue its entire $37 trillion debt.
0:46 He says the United States is plotting to
0:49 put that debt into a crypto cloud which
0:52 would reset the system. Basically
0:53 leaving the rest of the world just
0:56 holding the bag. Now this might sound
0:59 like some crazy theory, but a version of
1:00 this story has been said before by
1:02 billionaire CEO of Micro Strategy,
1:05 Michael Sailor. He actually advised
1:08 President Trump to quote, "Dump all the
1:10 US gold and buy Bitcoin.
1:12 >> Dump your gold. Sell all the US gold.
1:14 Buy Bitcoin. Then the trade is free
1:17 because you could buy 5 million Bitcoin
1:19 for the cost of the gold. You will
1:22 demonetize the entire gold asset class
1:25 and our enemies hold gold in their
1:28 banks. So their assets would go to zero.
1:32 Our assets would go to hundred trillion.
1:34 and we would control the world's reserve
1:36 capital network as well as the world's
1:37 reserve currency network.
1:40 >> The $37 trillion question though is is
1:42 how realistic is this? And would this
1:44 actually work? Because I think the
1:47 answer is it's not just going to work.
1:49 It's going to be inevitable and I think
1:51 it's going to happen. Not exactly in
1:53 that way, but that's what I'm going to
1:55 help explain in today's video. I want to
1:57 show you what Putin's adviser exactly
2:01 said and how the US will devalue its $37
2:03 trillion worth of debt with stable coins
2:06 and Bitcoin. It's a really interesting
2:08 story. So with that said, let's get into
2:10 it. Hi, my name is Hri Jick. Hope you're
2:12 doing well. Come for the finance and
2:14 stay for the Bitcoin. So, okay, first
2:16 question is who is the person that said
2:19 all this? Now his name is Anton Kobyakov
2:23 and he is the senior adviser to Russia's
2:25 president Vladimir Putin and he's been
2:27 in that job for over a decade. He
2:29 basically helps with Russia's messaging
2:32 at big events like the Eastern Economic
2:35 Forum. Now in his speech he said that
2:37 the US is trying to rewrite the rules of
2:40 the gold and crypto markets and that the
2:42 ultimate goal of the United States is to
2:44 push the whole world into what he called
2:46 the crypto cloud. And once the world is
2:49 there, he says it's going to move its
2:53 huge $37 trillion worth of national debt
2:55 into assets like stable coins and then
2:58 devalue it, which would essentially wipe
3:01 the slate clean. Okay, second question
3:04 then is what does it actually mean to
3:07 devalue the debt and how does that work?
3:11 So here goes. Imagine that the whole
3:15 world is just worth this $100 bill.
3:17 Let's say I borrow all of it, right?
3:20 Every single dollar. And now I owe and I
3:22 have to pay it back. The problem is
3:25 paying it back the hard way means I have
3:28 to pay it back and give it back, right?
3:31 But luckily, I have a special superpower
3:33 because I control the world reserve
3:36 currency. So instead of repaying it back
3:40 with the same $100 bill I just borrowed,
3:43 I could just create another $100 bill
3:46 out of thin air. Well, now the world
3:50 doesn't just have $100 in circulation
3:52 anymore. It now has $200, which is now
3:55 trying to buy all the same things in the
3:58 world cuz we didn't make more stuff. So
4:01 what happens next? The price of all
4:04 those things goes up, right? Things like
4:07 real estate, stocks, gold, especially
4:09 the things everybody wants, they all go
4:11 up. The groceries you used to pay a
4:14 dollar for now costs, too. Everything
4:16 becomes more expensive because again,
4:18 the supply of money doubled, but the
4:21 supply of stuff stayed the same. That's
4:24 inflation. Now, when I go to give you
4:27 back your $100, it looks like I just
4:31 repaid you back in full. But in reality,
4:34 I cheated because now your $100 bill
4:36 doesn't buy you the same amount of stuff
4:40 because I diluted the money. So it now
4:44 only buys you half as much. I devalued
4:46 the debt. Now, what most people don't
4:50 realize though is that this is literally
4:52 the oldest trick in the book. And in a
4:54 lot of ways, it's how the United States
4:57 has been paying for its debt this whole
5:01 time. Devaluing doesn't mean defaulting.
5:03 It doesn't mean not paying back. It
5:06 means to lower the real value of that
5:09 debt through inflation or currency
5:12 manipulation. And this has happened over
5:15 and over again throughout time after
5:17 World War II, during the inflationary
5:20 1970s, and even more recently after the
5:23 pandemic when we created a ton of new
5:25 money and then everything went up in
5:28 price, right? more dollars chasing the
5:31 same amount of stuff. So when Russia's
5:34 advisor says that the US might use
5:37 crypto to devalue its debt, he's not
5:39 telling us anything new, right? He's
5:40 describing something the US has been
5:44 doing for a really long time now. If you
5:47 take that same trick I just explained
5:49 and you push it out to the rest of the
5:52 world, that's what stable coins let you
5:54 do. And just to be clear, this isn't
5:57 literally exchanging the 37 trillion
6:00 into stable coins. It's using dollar
6:02 pegged stable coins backed by treasuries
6:05 to spread liabilities globally. When
6:07 those dollars are inflated, the loss
6:09 gets shared by anyone holding the
6:11 tokens, but we'll get into that later.
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7:25 now, let's get back to it. But now,
7:27 here's arguably the most important thing
7:29 you'll ever understand about the
7:31 economy. And this is credit to Jeff
7:33 Booth for this one. Just remember this
7:35 all the time.
7:39 The natural state of the economy is
7:42 deflationary. So, what does that mean?
7:45 Well, it means if the amount of money in
7:48 the entire world stayed the same, like
7:51 let's say there was only ever this $100
7:54 bill in the entire world, right? And it
7:57 was always that amount. Over time, as
8:00 technology gets more efficient, as we
8:02 get better and better at making stuff,
8:04 the price of everything would naturally
8:07 go down. Things would get cheaper
8:10 because productivity goes up. But the
8:14 money supply stays the same. That is the
8:16 natural order of the universe. It's
8:19 decay. Things get cheaper over time. And
8:21 that's how it should be. But if you
8:24 think about it, that's not how the world
8:26 we live in actually works for some
8:29 reason. And that's because governments
8:34 can make more money. And when they do,
8:36 that's when you hear, "Oh, wait a
8:39 minute. gold, real estate, stocks,
8:42 Bitcoin, that's hit an all-time high.
8:45 But the reality is it's not really that
8:48 those assets are going up in price.
8:51 What's really happening is that the
8:53 dollar is going down cuz we're making
8:56 more of them. So, it now takes more of
8:59 them to buy the same thing. And when the
9:02 new money floods the system, all that
9:05 extra liquidity, as it's called, has to
9:08 find a home. It has to find a place to
9:12 go so that it doesn't become worth less.
9:16 So, it gets put into things like real
9:19 estate, stocks, gold, Bitcoin, which is
9:23 also why over the long run, those assets
9:26 look like they go up forever. In
9:29 reality, they're just holding their
9:31 purchasing power while the money that's
9:34 underneath all of that gets weaker and
9:39 weaker. So then the question is, what if
9:42 you can expand this superpower, right?
9:45 You could widen the same trick beyond
9:48 the US borders. That's where stable
9:51 coins come in. Okay, but hold on. If the
9:54 US can already devalue its debt with
9:57 regular inflation, what does it matter
9:59 if it can do the same with stable coins,
10:02 right? This is why Russia's adviser
10:04 thinks the US will actually do this. The
10:07 answer comes down to distribution and
10:10 control. You see, when the US inflates
10:13 the dollar, the economy starts to feel
10:15 the pain right away. We all see the
10:18 higher grocery bills, right? the more
10:20 expensive house prices, the energy costs
10:23 going up, potentially higher interest
10:26 rates to cool it down, those CPI and
10:27 consumer price index reports go up, and
10:30 then people get upset, right? But stable
10:33 coins, they change that equation because
10:36 stable coins park reserves in short-term
10:38 US treasuries. So, the demand for
10:40 dollars and treasuries can actually go
10:43 up as adoption grows, making the whole
10:45 thing kind of self-reinforcing.
10:50 Every time someone uses USDT or USDC
10:52 throughout the rest of the world,
10:56 they're basically holding a digital IOU
10:59 backed by US treasuries. That means they
11:03 are indirectly helping fund America's
11:07 debt without actually buying US
11:11 treasuries. Right? So if the US devalues
11:15 its debt through inflation, the burden
11:18 doesn't just hit American citizens, it
11:21 gets exported worldwide through the
11:25 stable coin system. So inflation then
11:29 becomes kind of a shared tax that stable
11:32 coin holders everywhere are forced to
11:35 pay because their digital dollars also
11:37 lose purchasing power at the same time.
11:39 Now, this is also technically true of
11:41 today's system because dollars are
11:43 everywhere throughout the world. But
11:46 this would become a much bigger market
11:48 that would also exist on people's
11:50 smartphones. And here's the other piece
11:54 of the puzzle. Stable coins can look
11:58 neutral because they could be created by
12:00 private companies, not just the
12:03 government. What that means is they
12:06 don't carry the same political baggage
12:08 that you know is associated with the
12:10 Federal Reserve or the Treasury. And
12:13 under the Genius Act, it says only
12:16 approved issuers like banks, trust
12:19 companies or non-bank firms can get
12:22 special approval. They can issue
12:24 regulated dollarbacked stable coins in
12:28 the United States. So if Apple or Meta
12:31 wanted to, they could create their own
12:33 currency like Metacoin, right? All they
12:36 got to do to get approval is just suck
12:37 up to the president a little, right?
12:39 >> How much are you spending uh would you
12:40 say over the next few years?
12:42 >> Um I mean I think it's probably going to
12:44 be something like
12:48 I don't know at least $600 billion. show
12:49 your loyalty, spend a little bit of
12:52 money, and that's why stable coins are
12:55 going to play such a huge role in the
12:58 devaluation of our debt. It's kind of
13:02 CBDC level of control without the CBDC
13:05 brand. Now, here's why the rest of the
13:08 world wants no part in any of this. And
13:10 we know it doesn't because of how much
13:13 gold the world has been buying. That's
13:14 what's happening to gold right now.
13:16 countries are like, "We don't want your
13:19 stable coins. Give us gold." Because it
13:20 was the agreed upon standard for
13:22 thousands of years. So, let's just go
13:25 back to that. But why don't they want
13:28 any part of this, right? It's because
13:31 even though stable coins are supposed to
13:34 be backed one to one by real US assets
13:37 like dollars or treasuries, in theory,
13:39 every single stable coin in circulation
13:41 should have a real dollar or bond
13:43 equivalent sitting right behind it. The
13:46 problem is there's no way for a person
13:49 or a foreign government to audit that
13:52 claim with 100% certainty.
13:54 Companies like Tether and Circle release
13:56 reports, but you have to trust the
13:58 issuer and the auditor, and they're all
14:01 mostly US-based. And when it comes to
14:03 trust, especially when it comes to
14:06 trillions of dollars, that's a big ask
14:10 between countries. Even if one day
14:11 blockchain technology makes it possible
14:14 to fully audit those reserves in real
14:17 time, that still doesn't really solve
14:20 the bigger problem, which is that the US
14:23 can always change the rules. Remember,
14:24 the government once promised that
14:27 dollars would always be redeemable for
14:29 gold. And then in 1971, Nixon just
14:32 rugpulls everyone, right? That link was
14:35 cut. So from the world's perspective,
14:36 that was kind of like the ultimate rule
14:38 change, right? That was the promise of
14:41 redemption and then just just kidding.
14:44 So a trust us token isn't really going
14:46 to cut it. There's nothing technical
14:48 that stops the US from doing the exact
14:51 same thing but this time with stable
14:54 coins. That's why there is so much
14:56 distrust in the world about moving to
14:59 this new digital system. So then the
15:02 next question is will the US actually do
15:04 this? Then now I actually think it's
15:07 more possible maybe even inevitable that
15:09 the US is already experimenting with
15:12 this idea just not in the way that we
15:13 hear about it. For example, Michael
15:16 Sailor, he was very public, right? He's
15:19 advised Donald Trump and his family that
15:22 America should have a Bitcoin strategic
15:25 reserve. His plan was if the US sold off
15:27 all its gold and bought Bitcoin, it
15:29 would crush gold prices. It would hurt
15:31 competing countries like China and
15:33 Russia. And at the same time, it would
15:35 send Bitcoin's price way up and
15:37 recapitalize America's balance sheet.
15:40 But in the end, that's not what ended up
15:42 happening. Instead, during Trump's
15:45 presidency, the idea of this US Bitcoin
15:48 Reserve, it ended up being just an idea
15:50 that was teased, but it was never fully
15:53 something that became real. The US said
15:55 it would never use taxpayer dollars to
15:57 buy any Bitcoin, and it really hasn't
15:59 been buying any, at least not that we
16:01 know of publicly. So, I don't think it's
16:03 going to happen the way Michael Sailor
16:07 was advising publicly would happen. But
16:10 this is where the private angle comes in
16:11 because while the government might not
16:14 be openly buying Bitcoin, there's a back
16:16 door. There's another way this could
16:19 happen behind the scenes. So, think
16:22 about Micro Strategy, right? This stock.
16:24 The company has basically become a
16:26 public Bitcoin proxy with Michael
16:27 Sailor. They've been buying Bitcoin
16:30 nonstop. They now hold hundreds of
16:33 thousands of bitcoins. So what if
16:35 instead of the US government buying
16:38 Bitcoin directly and then risking global
16:42 panic, what if it's easier to just let a
16:44 corporation do it first? That way it
16:46 doesn't look like some central bank
16:48 operation and no one's really paying
16:51 attention. And then later if Bitcoin
16:54 really does become a strategic asset,
16:57 the US government could take in and take
17:00 a partial stake in Micro Strategy the
17:03 same way it took 10% ownership in
17:06 companies like Intel. So this precedent
17:08 already exists. I mean, think about it.
17:11 Why would the US openly risk crashing
17:13 the gold market with a trillion dollar
17:15 Bitcoin purchase or or forced stable
17:17 coin roll out? Why would it sell its
17:20 gold if it if it still has any? Right?
17:23 It's way easier and much smarter just to
17:24 let private companies do the heavy
17:27 lifting first. Let them experiment and
17:29 then the US government could come in and
17:33 adopt what's already working. That's how
17:35 the US has always played the game.
17:37 Innovation starts privately and when it
17:40 becomes way too important to ignore, it
17:42 gets absorbed nationally. Right? This
17:44 way it's way more subtle, way more
17:47 gradual and it's kind of deniable until
17:50 the day it becomes official. But the
17:52 point I'm trying to make is that there's
17:55 a lot of ways that this could happen and
17:57 probably will happen. So, yes, the
17:59 Russian adviser is 100% correct in his
18:02 assumption that that's what the US will
18:04 most likely do at some point in the
18:06 future if it cares about solving its
18:09 national debt. But whatever ends up
18:11 happening, either way, I'd love to hear
18:12 your thoughts. Let me know down in the
18:14 comments below. I hope you have a
18:15 wonderful rest of your day. Smash the
18:16 like button. Subscribe if you haven't
18:18 already. I'd love to see you back here
