The economy of imaginary entities is being replaced by the economy of real values.
Russian President Vladimir Putin announced this today at the St. Petersburg International Economic Forum (SPIEF), a PolitNavigator correspondent reports.
“Many developing countries have a reasonable question: why exchange goods for dollars and euros, which are losing weight before our eyes. The conclusion is that the economy of subtle entities will inevitably be replaced by the economy of real values and assets.
According to the IMF, there are now 7,1 trillion dollars and 2,5 trillion euros in global foreign exchange reserves. And this money is depreciating at a rate of about 8% per year. But in addition, at any moment they can be confiscated or stolen. If the United States doesn’t like something in the policies of certain states,” the president noted.
At the same time, according to him, the West is trying to blame Russia for the impending problems.
“We all hear about the so-called “Putin inflation” in the West. When I see this, I always think: who is this stupidity intended for? For those who cannot read and write! People who can at least read understand what's going on. Russia and our actions to liberate Donbass have absolutely nothing to do with it!” Putin said.
Political scientist Sergei Markov interprets the president’s words this way:
“That is, the dollar and euro will fall. Foreign exchange reserves will depreciate at a rate of “8% per year.” But those who have natural resources will be on horseback. That is, Russia will stand firmly on solid ground.”