The New 2008?
Manipulation of crypto and gold markets may be used to shift global debt into stablecoins
In a recent statement at the Eastern Economic Forum in Vladivostok (September 6, 2025). Anton Kobyakov, a senior advisor to Russian President Vladimir Putin, accused the United States of orchestrating a bold scheme to address its staggering $35 trillion national debt.
The alleged plan? Manipulate cryptocurrency and gold markets to shift debt into stablecoins, devalue them, and reset the financial system. While these claims lack concrete evidence, they raise obvious questions about the stability of the global monetary economy and the evolving role of digital and alternative assets.
Why This Could Trigger a “New 2008 Event”
The 2008 financial crisis, triggered by the collapse of mortgage-backed securities and over-leveraged banks, led to a global recession with $10 trillion in losses. Kobyakov’s scenario, if realized, could unleash a comparable “catastrophe” (not writing this to scare you—but to inform you to act prior to). Here’s how:
Loss of Confidence in Financial Systems
In 2008, trust in banks and mortgage securities evaporated, freezing credit markets. A U.S. move to manipulate stablecoins or gold could similarly shatter confidence in cryptocurrencies and traditional assets. It is basically just re-wrapping the reserve with a centralized shitcoin like XRP.Stablecoins, with a market cap exceeding $200 billion, are integral to crypto trading and DeFi platforms. Devaluing them could trigger panic selling, collapsing crypto exchanges and funds, much like Lehman Brothers’ failure in 2008. This could spill into broader markets, as institutional investors, holding over $1.5 trillion in crypto, face losses.
Bitcoin is still the best bet, DCA. SUI is my clear #2. Do your own research. Not Financial Advice!
Debt Contagion and Market Instability
The U.S. debt, now $35 trillion (120% of GDP), is a global linchpin. In 2008, opaque derivatives hid systemic risks. If the U.S. were to shift debt into stablecoins and devalue them, it could create a new form of toxic debt, undermining bond markets and dollar-based assets.Foreign holders of U.S. debt, like China and Japan (owning $1.8 trillion combined), could dump Treasury bonds, spiking U.S. interest rates and triggering global market sell-offs. Emerging markets, reliant on dollar-based trade, could face currency crises, echoing 2008’s contagion.
Banking and Liquidity Crisis
In 2008, banks faced a liquidity crunch as assets plummeted. A crypto-gold manipulation could drain liquidity from digital asset markets, where daily trading volumes exceed $100 billion.If stablecoin devaluation erodes trust, exchanges could halt withdrawals, mirroring 2008’s bank runs. Major banks, now holding $50 billion in crypto assets, could face balance sheet shocks, tightening global credit and stalling economic activity.
100% expect the CoinBase and Robinhood types to freeze withdrawals bare minimum. If you are a subscriber of mine, i doubt you’d keep your coins there anyway!!!
Geopolitical and Economic Ripple Effects
The 2008 crisis exposed global financial interconnectedness. Kobyakov’s scenario could escalate U.S.-Russia tensions, with retaliatory moves like cyberattacks on financial systems or sanctions on crypto infrastructure.BRICS nations (they just met and pledged more resources to withdrawing from Bretton Woods) are already exploring digital currencies, might accelerate de-dollarization, destabilizing trade and commodity markets.
Gold price spikes, as seen in 2008 when prices rose 30%, could exacerbate inflation, hitting consumers and businesses worldwide.
Real-World Impact on the Global Monetary Economy
A crisis triggered by this scenario would reverberate across the global monetary system:
Dollar Dominance at Risk: A perceived U.S. manipulation could hasten de-dollarization, with countries like China (digital yuan) and Russia (digital ruble) pushing alternatives. This could raise U.S. borrowing costs, fueling inflation globally.
Crypto Market Collapse: A stablecoin crash could wipe out $1 trillion in crypto wealth (all your low hanging fruit custodials), hitting retail investors and institutions alike. This could cascade into stock markets, where tech firms with crypto exposure dominate. (for me, idgaf what happens, im DCA Bitcoin—you’ll never hear them tell you to learn about it).
Gold Market Chaos: Manipulation could drive gold prices to record highs, squeezing banks and destabilizing currencies in gold-reliant economies like India.
People are definitely sleeping on how much damage a gold market destabilization alone could do—considering an already band-aided house of cards is the only line of defense…
Global Recession: Tighter credit, market crashes, and trade disruptions could slash global GDP by 2-3%, rivaling 2008’s economic contraction.
How It Differs from 2008—and Why It’s Worse
Unlike 2008, which centered on housing and banks, this crisis would involve digital assets and geopolitics. Crypto’s integration into mainstream finance means a collapse would hit faster, amplified by algorithmic trading and social media panic.
Geopolitical motives—Russia’s accusations versus U.S. policy—could prolong the crisis, as trust in global institutions erodes further. With U.S. debt 50% higher than in 2008, the stakes are larger, and ‘recovery’, if any, will be slower.
What to Watch For
U.S. Regulatory Moves: New stablecoin or crypto regulations could signal intent—or be misread as such.
Crypto Volatility: Sudden stablecoin issuance or price swings in Bitcoin ($100,000+) could indicate market stress.
Global Reactions: BRICS moves toward digital currencies or gold-backed systems could accelerate de-dollarization.
Geopolitical Escalation: Cyber or economic retaliations could deepen financial instability.
Remember…XRP is not going to save you. Do not fall for the same exact thing just re-wrapped. The entire purpose of cryptography is to own your own assets and use blockchains that reach consensus by Proof-of-Work!
What do you think?
God-Willing, see you at the next letter
GRACE & PEACE