October 7, 2023
1 min read

Dollar-Centric System Faces ‘Gradual Collapse,’ Putin Predicts

The Russian President says dollar-based global financial system does not meet the interests of all countries

The dollar-based global financial system is not balanced as it does not meet the interests of all countries, Russian President Vladimir Putin said at the plenary session of the Valdai Discussion Club.

According to Putin, the dominance of the American currency has to end, which is already happening, while the US authorities are “shooting themselves in the foot”, RT reported.

“The Bretton Woods system — it was once created on the basis of the dollar, but all this is gradually collapsing. Currency is a derivative of the power of the country’s economy, which issues this currency,” the Russian leader pointed out.

In addition, the share of the US economy in global GDP is declining, as evidenced by statistical data, Putin emphasized.

According to the President, Washington is used to printing money in order to cover its budget deficit, and will continue this policy as long as needed, RT reported.

“They will print more. They printed, well, more than $9 trillion during the Covid and post-Covid period. Therefore, it costs them nothing to print something else and scatter it all over the world, thus increasing food inflation. They will do it for sure,” Putin predicted.

ALSO READ: Putin: Ukraine Won’t Last A Week Without Western Aid

Previous Story

Sectarian, Militant Violence Surge In Pakistan

Next Story

India Stands in Solidarity With Israel: PM Modi

Latest from -Top News

Pakistan’s Shadow War in Balochistan

At least 50 killed by Pakistan-backed death squads in Balochistan in April, says HRCB — toll expected to rise in May….reports Asian Lite News The Human Rights Council of Balochistan (HRCB) reported

Russia, Ukraine Resume Talks

The upcoming talks follow a significant hiatus in diplomatic engagement between the two nations, which have been locked in a brutal conflict since Russia’s invasion of Ukraine in February 2022 Russia and

UN Pays Tribute to Indian Soldiers

Thursday was observed as the 77th UN Peacekeepers Day, honouring the work of 61,353 peacekeepers, of whom 5,375 hailed from India….reports Asian Lite News Brigadier Amitabh Jha and Havildar Sanjay Singh, who

Modi’s New Warfare Playbook

Modi has upended the old playbook and India and Pakistan are entering dangerous new territory where nuclear deterrence is no longer a guarantee against conventional conflict…writes Collins Chong Yew Keat The India-Pakistan
Go toTop

Don't Miss

US firm wins NASA contract to bring Mars samples to Earth

NASA’s Perseverance Rover has been collecting samples from various Martian

US trying to help India to produce vaccine, says Biden

With a need for several billion doses around the world,