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Submitted by Tyler Durden on 05/10/2011 12:05 -0400
* Budget Deficit
* Global Economy
* Gross Domestic Product
* The Onion
This one is just too good to pass by: the latest critic of US monetary, and budget policy, is none other than... Iran. From PressTV: "Iran's President Mahmoud Ahmadinejad strongly criticizes US economic policies, saying that the paper currency created by the American government is taking a heavy toll on the global economy." In an address to the fourth UN Conference on the Least Developed Countries in Istanbul, Turkey, on Monday, Ahmadinejad said that the cash injected into the global economy in the form valueless US dollars amount to over USD 32 trillion, IRNA reported. “This is while the US budget deficit for the 2011 fiscal year is expected to reach a figure above USD 1.6 trillion,” he added. Who would have thought The Onion reality of our centrally planned times would get to a point where Iran speaks more truth than our own politicians...
More from PressTV:
The Iranian president also pointed that the US foreign debt now approaching over USD 14.6 trillion, while the Gross Domestic Product (GDP) in the United States stands at around USD 14 trillion.
President Ahmadinejad stated that such figures clearly explain the plunder of national wealth in many countries, and the upsurge in poverty and underdevelopment across the globe.
He noted the certain countries rob less developed states to pay their international debts.
“Most of international economic organizations either defend the existing situation or serve the interests of certain states,” he said.
President Ahmadinejad further said the era of colonialism is coming to an end and the management of world issues should be reformed.
Lastly, if Iran gets its way, the US may soon follow Weimar not only in infinite printing, but in paying reparations:
He also proposed the formation of an independent commission to assess the extent of damage inflicted on oppressed nations during the era of colonialism, and to oblige former colonialist powers to pay indemnities.
There is little one can add to this gem. Pretty much says it all.
h/t Temp Flashback