Russia Blames U.S. For Global Financial Crisis

Russia Blames U.S. For Global Financial Crisis

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ST PETERSBURG, Russia (Reuters) - Russian President Dmitry Medvedev blamed "aggressive" United States policies on Saturday for the global financial crisis and said Moscow's growing economic muscle could be part of the solution.

"Failure by the biggest financial firms in the world to adequately take risk into account, coupled with the aggressive financial policies of the biggest economy in the world, have led not only to corporate losses," Medvedev told Russia's main annual event for international investors in St Petersburg.

"Most people on the planet have become poorer."

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Is it just me, or does there seem to be a lot of economic posturing and leveraging going on all over the place right now? The ME appears to be shying away from the dollar and leaning towards replacing it with the euro, and the Russian gov appears to be going on the aggressive with their financial clout. Who woulda thunk it, ten years ago?

Interesting times...

The Kremlin leader said investment by cash-rich Russian companies abroad, promotion of Moscow as a major financial centre and use of the ruble as a reserve currency were part of the answer.

These could help solve problems created by what he said was a gap between the United States' leading global economic role and "its true capabilities."

The Kremlin leader said economic nationalism had played a big part in triggering the current crisis, which he compared to the Great Depression of the 1930s.

"No matter how big the American market and no matter how strong the American financial system, they are incapable of substituting for global commodity and financial markets," Medvedev told the St Petersburg International Economic Forum.

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..., again with America causing all world problems, Russia needs to get over themselves.

Originally posted by Baxtoriafall
...

, again with America causing all world problems, Russia needs to get over themselves.

Well it is government policy that is causing a lot of the issues right now whether you like it or not. The fact is this empire we are trying to finance is bankrupting us and causing our currency to plummet. Something has to give and the do nothing approach our government has had does not seem to be working.

Of course the US is to blame. Just like we were when the last Depression boomeranged the globe on the brink of World War.

Well, technically I suppose one could blame the international banksters who are deliberately driving the US into the ground.

Originally posted by jackinthebox
Of course the US is to blame. Just like we were when the last Depression boomeranged the globe on the brink of World War.

Well, technically I suppose one could blame the international banksters who are deliberately driving the US into the ground.

Yup theres a lot of money to be made in the depression business because it makes valuable things reaaaaal cheap. Russia can talk all the smack they want but they have financial interests also that make out of the financial crisis. Think of the money they are making on high oil right now. The banksters as you like to call them are loving life right now and in 1 to 2 years you will see the true motives when these guys open the flood gates of all this cheap money they borrowed and buy up everything in site to be sold later at crazy profits. pfft.

This theory will just give russia enough evidence to build skyscrapers on the moon.LOL.Why dont they just look at thier own problems and start off with blaming themselves for past issues and future ones.

[edit on 7-6-2008 by alienstar]

Think of the money they are making on high oil right now.

Actually since oil is traded in US dollars (inflated dollars) there not making that much more. And yes, we are mostly responsible for these economic problems. Well not us, but our government and their policies.

Russia definitely has the right to chastise US. They have balanced their check book and then some. The US is the worlds biggest beggar nation, borrowing 3/4 of a Trillion a year and rising.

The rest of the world is beginning to call us on our crumbling financial situation. They're saying that they will not follow blindly down that path. Reserve Currency status is moving away from the Dollar and without it the Dollar is just another Fiat Currency. Get ready to welcome all those Trillions of Dollars back home and the Hyperinflationary Hell that will come with them.