Vladimir Putin, President of Russia, gave his first international interview last Thursday (8). On that occasion, he noted that the dollar is the US’s most important weapon to maintain its power over the world.
Putin, however, argued that the US sanctions were a strategic mistake by the US. Even his allies are reducing their holdings of dollars, something the Russian president classified as a response to the freezing of the balance.
For some, the conversation between Vladimir Putin and Tucker Carlson could also shape this year’s US elections. After all, Putin has a much greater bond with Donald Trump than with Joe Biden, the current US president.
Vladimir Putin talks about the US dollar, inflation, sanctions and the US national debt
What was supposed to be an explanation for the reasons that led Russia to invade Ukraine ended up being a platform for Vladimir Putin to talk about other issues. One of the highlights of the conversation with Tucker Carlson was the US dollar.
“Using the dollar as a foreign policy tool was one of the biggest mistakes of American leaders”Putin brought up the subject. “The dollar is the pillar of American power.”
“I believe everyone understands very well that no matter how many dollars are printed, they are quickly distributed throughout the world. Inflation in the US is minimal, at 3% or 3.4%, which I think is perfectly acceptable for the US, but they have no intention of stopping printing. What does the $33 trillion national debt tell us? It’s about emissions.”
Putin is not the only one concerned about the American economy. Also this week, Federal Reserve Chairman Jerome Powell called long-term US debt “unsustainable.”
After this, the President of Russia declared that the dollar was the “main weapon” used by the US. However, he stated that the US has made a big mistake as even US allies are reducing their US dollar positions.
“Everyone is starting to look for ways to protect themselves”Putin continued, noting that restricting transactions and freezing assets “causes great concern and sends a signal to the whole world”. For example, he noted that before 2022, 80% of Russia’s international trade was conducted in dollars or euros, and 50% in dollars, but now this number has fallen to just 13%.
Governments can start to see Bitcoin as a solution
Vladimir Putin stated that this was an American decision and not Russia’s. He emphasized that Russia now uses its own currency, the ruble, but also the yuan. The explanation, according to Putin, is that Chinese political philosophy is not aggressive.
However, Putin’s reservations about the dollar apply to any currency. In other words, none of them have control over emissions, which could be even worse in the event of global trade dominance.
This makes it seem like only a matter of time before countries start using Bitcoin in international trade. After all, in addition to the fact that Bitcoin is not controlled by anyone and its emissions are controlled by mathematics, Bitcoin is also an uncensored asset and cannot be used as a political weapon.
The full interview can be viewed in full below.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
