During a conversation with the winners of the Leaders of Russia contest, Russian President Vladimir Putin said that the West, during the fight against the pandemic, began to abuse its monopoly position in the currency sphere.
“The crisis began to emerge during the fight against the pandemic. And it began to arise due to the fact that in developed economies they began to abuse their monopoly position in the monetary sphere, they turned on the printing press. Here in the United States they printed 5.9 trillion dollars. This is 38% percent of the money supply. In two years, they printed about as much as they printed in the previous 40 years. The pace is the same,” Putin stressed.
The President noted that 2.5 trillion euros were printed in the Eurozone and the West let these funds into the economy and began distributing them to citizens.
“Which seems to be a good thing. And we did pretty much the same thing. But we still did it pointwise, carefully, and this did not lead to such an outbreak of inflation, ”Putin explained.
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