– CEO Of Russia’s Second-Largest Bank Warns: “US Is Inevitably Headed For A Serious Economic Crisis”
https://archive.ph/xjSox
Russian state-owned news agency TASS cited Kostin’s interview with the Fontanka publication, who warned if it wasn’t for the dollar’s status as the world’s reserve currency, a sovereign debt crisis would’ve already been underway in the US. No matter what, he warned the US economy is on the verge of an economic crisis.
“I am thoroughly convinced that America is inevitably headed for a serious economic crisis. The amount of debt currently held by the US today has reached inconceivable, astronomical levels. And the dollar’s monopoly on the global stage is the only thing enabling the Americans to maintain such a level of debt. If the Chinese or the Arabs took their money out of the US, a complete collapse would ensue for the financial sector and the government,” he said.
Kostin added:
“If the West fails to revise its policy I think that the move toward the collapse of the colonial system will only accelerate.”
Kostin noted that China has been disposing of US government debt. Last month, we asked: “Is China’s ‘Dumping’ Driving US Treasury Yields Higher?”
China’s Treasury holdings are back to levels not seen since June 2009.
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