Using cash printing press to solve economic problems equated with government hooliganism

Author: Inga Friedelhaus Section: Major Events of the Month

Issue: August 2011, Vol. 6, No. 7

Tags: Putin

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State Hooliganism

Known for his bluntness, Prime Minister Vladimir Putin, commenting on the U.S. financial difficulties, threatening the world with more economic troubles, called the attempts by some countries, notably, the US, to solve their fiscal problems by just printing money, an act of state hooliganism. "Russia, unlike the US, cannot afford to solve its deficit problems in such ways,” he added. “We don’t print a reserve currency, like the US. Today, what Washington is doing is nothing but hooliganism, as it simply puts on its printing machine, littering world with unsecured dollars, to solve its own problems.”