Nikolai Patrushev predicts public debt default in USA

The US may default on its public debt, Secretary of the Russian Security Council Nikolai Patrushev said during a speech at an online conference with colleagues from the countries of the Association of Southeast Asian Nations (ASEAN), TASS reports.

According to Patrushev, USA's national debt currently exceeds $30 trillion, whereas that of Japan reaches $10 trillion.

"Given such dynamics, there is every reason to believe that in the foreseeable future these countries will have problems servicing this debt,” Patrushev said.

Ultimately, Patrushev believes, the US will default on its obligations to Russia. The financial assets of any country denominated in US dollars and euros "will simply be stolen," the Secretary of the Security Council of the Russian Federation said.

Patrushev also drew attention to the fact that food and energy prices have grown all over the world primarily because of the printing press in the US and Europe.

"During the pandemic, there was the largest emission of funds in 40 years. The United States printed $5.9 trillion, Europe — €2.9 trillion. Westerners cynically shift the inflationary burden that arises against this background onto developing countries," Patrushev said.

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Editor Dmitry Sudakov