USA Should Announce Its Own Default, Instead of Pointing to Russia, Top Official Says

Russian experts are working on a project to create a two-loop monetary and financial system in the country, according to the Secretary of the Security Council, Nikolay Patrushev, in an interview with Rossiyskaya Gazeta. 

Patrushev explained that the project involves the provision of the Russian currency with both gold and a range of goods representing a currency value. As a result, the ruble exchange rate would correspond to its real purchasing power parity. To ensure the sovereignty of any national financial system, it is necessary that its means of payment have intrinsic value and price stability, and is not tied to the dollar, Patrushev noted.

Another important condition for Russian economic security is the restructuring of its economy based on modern technologies, the official added.

“We are not against a market economy […] but […] the West allows other countries to be its partner only when it is beneficial for it,” Patrushev said.

Earlier this month, the Bank of Russia announced a fixed price for buying gold with rubles. It set a price of 5,000 rubles for a gram of gold, RT reminds.

The Security Secretary also stressed that Washington was trying to solve its problems at the expense of the rest of the world, thereby creating a “human-induced global crisis.” And its European allies would be the first to suffer from those actions, Patrushev said.

While the White House is discussing a possible default by Russia, the situation is such that “it’s time for them to declare their own default,” Patrushev assured, pointing out that the US’ external debt has exceeded $30 trillion.

Ru-Main, 28.04.2022
Source: Rossiyskaya Gazeta 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *