Volodin called insanity the course of Biden’s policy

Volodin called insanity the course of Biden's policy

Viacheslav Volodin.
© Press Service of the State Duma

Joe Biden is going to the US presidential election with a set of problems created due to the senile course of his policy, State Duma Chairman Vyacheslav Volodin wrote on his Telegram channel.

The speaker specified that it was the fault of the American leader that the global security system, which had been built for decades to avoid a repeat of the world war, had been destroyed. In addition, the mistakes of the US leadership in the economic sphere provoke the emergence of the global financial crisis.

“Washington, by solving problems in a well-known way – by printing fiat dollars – provoked a record inflation in the last 40 years. Struggling with it, I raised the key rate so much that it led to the inability to service loans, and, as a result, the largest bank failures since 2008 began,” Vyacheslav Volodin explained.

In the US, on March 10, the California bank Silicon Valley Bank (SVB), which occupied the 16th place in terms of assets in the country, went bankrupt. Two days later, the New York-based Signature Bank, which specialized in lending to the cryptocurrency industry, was closed due to systemic risks. Against the backdrop of what happened, Biden’s predecessor as president of the United States, billionaire entrepreneur Donald Trump, predicted that America was facing a new Great Depression. According to Trump, the current head of the White House, Joe Biden, is to blame for the problems faced by the United States.

Read also:

• Banks collapsed, but they are asked not to worry • Biden considers the US financial system to be reliable after the bankruptcy of two banks • Volodin: De-dollarization of economies is the only way to protect the American financial system from a crisis

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