Gary Dorsch:

Putin scolded Western capitalists for dragging the global economy into a death spiral. “A year ago, American delegates emphasized the US economy’s fundamental stability and its cloudless prospects. Today, investment banks, the pride of Wall Street, have virtually ceased to exist. The entire economic growth system, where one regional center prints money without respite and consumes material wealth, while another regional center manufactures inexpensive goods and saves money printed by other governments, has suffered a major setback,” Putin declared.

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“Nations are not ruined by one act of violence, but quite often, gradually, and almost imperceptibly, by the depreciation of their currency, through excessive quantity,” said Nicolas Copernicus, in 1525.