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March 27, 2023, 20:40
Secretary of the Security Council of Russia Patrushev announced the confident movement of the United States towards default
The decision of the US authorities to increase the amount of cash in order to flood economic problems with money will lead to sad consequences in the form of a financial crisis and default. Such a prediction in an interview “Rossiyskaya Gazeta” given by Nikolai Patrushev, Secretary of the Russian Security Council.
He stressed that the US financial system was built on the printing press, so it is already experiencing serious failures.
“The model of uncontrolled emission, in which any economic problems are literally flooded with money, cannot work forever,” Patrushev noted.
The Secretary of the Security Council of Russia recalled that the US financial system could be led to default by the public debt, which has already exceeded $31.5 trillion. A drop in confidence in the US currency against the backdrop of speculative operations in the market will cause a serious financial crisis.
After the bankruptcy of three large US banks – Silicon Valley Bank of California and Signature Bank of New York – which lost funds on the back of cheaper bonds due to a key rate hike, other US financial institutions borrowed more than $ 164 billion from the Fed’s auxiliary funds to confirm their liquidity.
This amount broke the record of the 2008 banking crisis, when banks took out $111 billion in loans. Frightened by the sudden failures of three banks, depositors continue to withdraw their deposits, fearing a new collapse of banks and the loss of accumulated funds.
Security Council of the Russian Federation
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