RUSSIA/USA: Russian President Vladimir Putin is a patient man, known for his ability to quietly absorb insults for decades before ensuring revenge is served at a time that suits him. But even Putin is getting tired of hearing Joe Biden attempt to blame him for rampant inflation in the US.
According to Putin, the reason for runaway inflation in the US and Western world is quite simple. The US has been printing greenbacks like they are going out of fashion. As Putin pointed out in his speech at the St. Petersburg International Economic Forum this week, the US has increased its money supply by a staggering 38 percent in the past two years.
“Because they could not or would not devise any other recipe, the governments of the leading Western economies simply accelerated their money-printing machines. Such a simple way to make up for unprecedented budget deficits,” Putin said.
“I have already cited this figure: over the past two years, the money supply in the United States has grown by more than 38 percent.
“The EU’s money supply has also increased dramatically over this period. It grew by about 20 percent, or 2.5 trillion euros.”
Putin isn’t the only person calling BS on Biden’s inept attempt to spin inflation as “Putin’s price hike.” A recent poll revealed that only a tiny minority of Americans believe Biden when he tries to blame someone, anyone, other than the Democrats and their disastrous left wing “free money” policies.
Just 11% of Americans believe Putin is to blame for record high gas prices in the US, according to a Rasmussen poll published Tuesday. The majority instead have pointed the finger at Joe Biden.
Let’s face it, nobody ever voted for a Democrat for his or her economic prowess, but surely even a senile Democrat career politician like Joe Biden understands that turning on the money printers will cause inflation.
Putin is furious with Biden and not because of the personal smear of the “Putin’s price hike” nonsense. He is furious with Biden for obliterating global markets.
“So, they printed more money, and then what? Where did all that money go?
“It was obviously used to pay for goods and services outside Western countries. This is where the newly-printed money flowed,” Putin said.
“They literally began to clean out, to wipe out global markets.”
“While at the end of 2019, imports of goods to the United States amounted to about 250 billion dollars a month, by now, it has grown to 350 billion. It is noteworthy that the growth was 40 percent – exactly in proportion to the unsecured money supply printed in recent years,” Putin continued.
“America’s role has changed dramatically. It has turned from a net exporter of food into a net importer. Loosely speaking, it is printing money and pulling commodity flows its way, buying food products all over the world.
“Obviously, such a sharp increase in demand that is not covered by the supply of goods has triggered a wave of shortages and global inflation.“
So there you have it. Sometimes you need to let an adult take the floor and explain the situation. Putin has delivered an almighty slap to Joe Biden and put him in his place. Unfortunately very few people will be fortunate enough to hear Putin’s words as western mainstream media does not allow his words to reach an audience in the West.
When he makes sense like this, sometimes you have to ask yourself why they are so afraid.
by Baxter Dmitry
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