Post
Topic
Board Bitcoin Discussion
Re: Putin adviser claims US using stablecoins, gold to devalue its $37T debt
by
_act_
on 09/09/2025, 13:07:38 UTC
The U.S. has a history of using gold to solve its economic problems. It deceived the world by claiming to uphold the gold standard while, in reality, printing unbacked currency.
This is very wrong. I mean you posted misinformation. Dollar was backed by gold in the past but it ended in August 15, 1971. You can read more about it from the link:

https://www.history.com/this-day-in-history/april-20/fdr-takes-united-states-off-gold-standard

The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard.

A potential stablecoin act could allow the U.S. to pull off the same scheme again. This time, the issued tokens would be backed by U.S. government debt.
Stable coins are backed by United States dollar but not from the debt because people are buying it.