PakGazette – Max Keiser, maximalist and former financial journalist, has advised the United States government. The recommendations come from macroeconomic factors and the global financial landscape.
Risks of losing dominance of the dollar
In a post on X, Keizer’s message highlights his perspective on the likely impact of a shift away from fiat currency dominance. He noted that a move from the US dollar to the Bitcoin standard could significantly affect the country’s fiat money.
In particular, it could lead to an erosion of confidence in the US dollar as people look for an alternative to the once-dominant currency. Keiser explained that such a development could lead to a massive drop in demand for US dollar reserves.
The Bitcoin maximalist said that this disadvantage will affect the United States due to its high debt burden. He says: “ Fiat (BIT:) money imperialists die under a global Bitcoin standard.”
Keizer criticized the current monetary system, where the US dollar is backed by trust and government policy rather than tangible assets like gold. Keizer’s reference to “debt imperialism” implies that the United States could issue dollar debt as a tool of economic control and global influence over other countries.
Russia’s strategic advantage
However, Keizer maintains that under a global Bitcoin standard, such influence could collapse. A main reason lies in the fixed supply and decentralized nature of Bitcoin. This factor alone limits the ability of any country to exert economic power by printing money or accumulating debt.
In the global space, Keiser believes Russia is well positioned for a shift to the Bitcoin standard. He believes Russia has a lower national debt than the United States and other Western countries. This gives it an advantage as it is less vulnerable to financial crises.
Other factors leaning in Russia’s favor include the country’s abundant energy, which could support Bitcoin mining, which has become increasingly difficult. Additionally, Russia, a commodity-producing nation, has assets with intrinsic value, which aligns well with a Bitcoin-backed system.
