Trends & Forecasts
Vladimir Putin Russia’s prime minister and ex president is openly calling for dumping the US Dollar as the world’s only reserve currency he believes that the debt deal is just kicking the can down the road and did not solve any real deficit and debt problems “Actually, there’s nothing good about it.
It’s just postponed making more systematic decisions,” Putin said. “This colossal debt, 14 trillion or more, means that the country has been living on credit, which is really bad for one of the world’s leading economies.
They live beyond their means, and put a part of their burden on the entire world’s economy,” Putin added.
“To some extent, they sponge on the world’s economy and on their monopolistic dollar position. Other reserve currencies should show up in the world, not just the dollar, and that the euro should be consolidated,” Putin said. ”
Asia should come up with regional reserve currencies. The ruble can become a regional reserve currency,” the Russian Prime Minister added.
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