Rivigo founder Deepak Garg sees the next decade as nothing short of a global economic war. “The next 8–10 years will be like a war; China and US will fight each other over who is the ruler of the planet,” he writes in a sharp LinkedIn post that connects geopolitics, financial markets, and the quiet rise of stablecoins.
Garg points to gold as the first responder—its price “inflating up vertically” as uncertainty builds. But according to him, this is just the beginning. Trade and tech battles between the US and China are morphing into what he calls “capital wars.”
“Who will buy US treasury?” Garg asks, framing the problem of rising American debt and dwindling foreign appetite for long-dated bonds. He sees a surprisingly modern solution: stablecoins.
“US has an elegant, acceptable solution in the form of stablecoins. Stablecoins are the largest UST buyers right now and with the exponential growth of stablecoins, they’d replace sovereigns as the marginal buyers of USTs,” he notes.
This, he argues, explains America’s recent tilt toward crypto adoption. “Crypto adoption promotes stablecoins. That is why US is promoting Crypto. Eventually more stablecoin minting means, more buying of UST and lesser bond yields.”
At the heart of the worry are the 10- and 30-year US bond yields—”screaming high,” according to Garg. He warns this could spark a mortgage rate crisis comparable to India’s. But stablecoins, if scaled rapidly, could offer a backdoor fix.
“Now all this needs to happen fast. The war is already on,” he warns.
Garg then takes the argument to a more strategic level: What if the US revalues its gold reserves, unlocks a trillion-dollar headroom in its balance sheet to print more dollars, and strategically buys bitcoin?
He proposes a possibility where the US might also sell part of its bitcoin holdings to control the BTC/gold ratio—essentially using it as a proxy to manage the financial power balance with China. “US still has 4x the level of Gold China has and the next war may be fought on gold vs bitcoin.”
He draws a historical parallel: “This is not new – Greek and Roman war was fought on silver vs gold and no prices for guessing gold won. China’s last century was a washout because of fascination with silver.”
His final provocation: “Could bitcoin win this war and could US weaponise gold reserves to maintain balance sheet superiority?”
