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Tuesday, March 21, 2023

Volodin called the only way to protect countries from the crisis – the dedollarization of economies Fox News

The speaker titled his message “On the brink of a great depression”. According to him, US President Joe Biden approaches the new elections with a set of problems “created due to the senile course of his politics”.

Through his fault, the global security system, which was built for decades to prevent a repeat of the world war, was destroyed, believes Vyacheslav Volodin. He noted that the mistakes of US leadership in the economic sphere are causing the emergence of the global financial crisis.

The Chairman of the State Duma pointed out that Washington has caused record inflation for the past 40 years, because in the United States they have tried to solve problems in a way known to everyone – by printing dollars not guaranteed.
Fighting inflation, Washington raised the policy rate so much that it led to the inability to repay loans and as a result the biggest bank failures since 2008 began, Volodin continued.

He noted that ordinary citizens of other countries have already been victims of recent bankruptcies. We are talking about the pension funds of Sweden, Norway, South Korea. No one will return their money. The United States will continue to live at the expense of others. The problems will grow and go beyond the borders of this country, believes the speaker.

The only way to protect oneself from the crisis is to de-dollarize the economies of the States, believes Vyacheslav Volodin.

The day before, Russian Foreign Ministry spokeswoman Maria Zakharova said that the crisis in the US financial system, which is unfolding against the background of the collapse of a number of banks, is an indicator of the loss of confidence of global businesses in the dollar as a reliable means of savings. It could affect the entire global economy, she said, and markets have already reacted strongly to the collapse of banks in the United States.

Meanwhile, Russian President Vladimir Putin said on Thursday that the national economy had passed the sanctions test and was beginning to grow in a new pattern. He said that in the new structure of the economy, “new and promising global markets, including the Asia-Pacific region, our own domestic market, science, technology and human resources, come to the fore.”

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