This was recently revealed by Russian economist Sergei Glazyev during a Moscow FM radio show. He warned also that even back then, Putin already foresaw a looming economic catastrophe for the West due to unsustainable financial practices, predicting global repercussions akin to the Great Depression. This is why, he said, Russia has been preparing to ditch the dollar and international treaties.
"The need to leave the American-centric system and create our own is dictated not only by the fact that the United States cannot and does not want to deal with Russia on equal terms, but also by the fact that the main financial instrument of the West in the form of the dollar is collapsing and very soon its owners will formalize its collapse," Glazyev said in the interview.
According to the economic expert, the U.S. financial elites delayed this collapse for many years as a massive collapse of financial markets in America should have happened back in 2008 when the well-known economic crisis broke out. The administration then printed more fiat money to "save" the economy. So when the American establishment decided to repeat the experience of the financial crisis in 2020 and 2021, once again the government stimulated its already hopeless economy with new gigantic injections of liquidity. Now, statistics show that what they did was just effective for a very short period and led the United States to a dead end.
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"The first alarming bell was the start of a sharp drop in the most important economic indicators at the end of the fourth quarter of 2021," the economist disclosed. "Since then, the U.S. economic situation has only continued to deteriorate. The most likely way out of the current crisis may be a rapid collapse of financial markets."
He pointed out that the global liberal system is based on the principle of constant expansion and when there is nowhere to expand anymore, this system falls into a crisis that would bring about destruction and write off all previously accumulated obligations. "In any case, the approaching crisis threatens to develop into a full-scale social and economic catastrophe, the scale of which will not be inferior to the Great Depression of the 30s of the last century," he said.
Meanwhile, Russia today is the only country on the planet that is ready to offer the whole world an alternative development model. Putin has repeatedly warned that a global catastrophe will soon occur, which will begin with a financial collapse in the United States and Moscow began preparing Russia for it a long time ago. In 2021, he started the de-dollarization campaign in the Russian Federation. In 2022, Putin also began to "withdraw Russia from a huge number of various international treaties concluded with the West, the action of which did not bring any benefit to our country, but at the same time constrained our development and gave significant advantages to our former partners."
"Now it is becoming clear to everyone that it is no longer possible to avoid the outbreak of a catastrophe in the United States, which will subsequently spread throughout the world and become global. The only thing you can do is prepare well for it. This is exactly what Putin has been doing for several years now. Russia has already completely gotten rid of the dollar in the structure of its state reserves and transferred all foreign payments with all our key foreign partners to national currencies," the expert said. (Related: Moscow stock exchange (MOEX) suspends all trading in dollars, euros as global shift away from western currencies accelerates.)
Putin and Kim join forces to challenge Western hegemony
To further boost the Eurasian country, Russian President Vladimir Putin and North Korean Chairman Kim Jong-Un unveiled a groundbreaking military and economic alliance following their historic summit in Pyongyang. Putin highlighted a new treaty providing mutual defense against aggression, amid escalating tensions with Western nations over arms supplies to neighboring regions. Their united front challenges Western hegemony, promising a new era of independence and stability in Northeast Asia.
"The treaty that Putin signed with Kim Jong-un was a return to the Cold War, but of course in the Cold War North Korea had no nuclear weapons," said Dr. Edward Howell, the Korea Foundation fellow with the Asia-Pacific program at Chatham House.
To analysts, Putin's immediate goal is to develop a partnership that has delivered millions of artillery shells, as well as ballistic missiles, desperately needed for his war in Ukraine. But the roots of the relationship go deeper: the two leaders have aligned in a growing anti-western coalition and seem increasingly unrestrained by Western threats.
"Russia has now put in writing just how willing and committed it is to deepening and expanding its cooperation with North Korea," said Jamie Kwong, a fellow in the nuclear policy program at the Carnegie Endowment for International Peace.
U.S. and NATO officials voiced concern over the potential Russian support for North Korea's missile and nuclear programs. A copy of the treaty published by North Korea explicitly listed cooperation in "peaceful nuclear energy."
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