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February 2, 2009 at 05:30:47

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A bankrupt and discredited country: The Era of American Leadership Is Over

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By Paul Craig Roberts (about the author)     Page 2 of 2 page(s)

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Putin made his case that the existing financial system based on the US dollar and American financial hegemony has failed. 


Putin showed that his economic understanding was superior to that of the Obama team when he said that creating more debt on top of the "hopeless debts," as Obama is doing, would "prolong the crisis."  

With another swipe at America's failed economic leadership, Putin said it is time to get rid of virtual money, false financial reports, and dubious credit ratings. Putin proposed a new reserve currency system to "replace the obsolete unipolar world concept."

Putin said that a secure world requires cooperation which requires trust. He made it clear that the Americans have proven that they cannot be trusted.


This was a powerful message. It got a lot of applause.

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Paul Craig Roberts, a former Assistant Secretary of the US Treasury and former associate editor of the Wall Street Journal, has held numerous academic appointments. He has been reporting shocking cases of prosecutorial abuse for two decades. A new (more...)
 

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He Should Know by wagelaborer on Monday, Feb 2, 2009 at 9:22:36 AM
Any world power is a racketeering criminal power. by John Hanks on Monday, Feb 2, 2009 at 1:30:20 PM
America? by William Whitten on Monday, Feb 2, 2009 at 6:41:03 PM
What a difference by Perry Logan on Tuesday, Feb 3, 2009 at 4:39:53 AM
How Do Feel About 9/11 by ramsheyi on Tuesday, Feb 3, 2009 at 5:18:56 AM
spoken by William Whitten on Tuesday, Feb 3, 2009 at 6:15:19 AM
yes by Aurora on Tuesday, Feb 3, 2009 at 5:58:38 PM
ramsheyi by arlen custer on Tuesday, Feb 3, 2009 at 7:42:50 AM
ramsheyi by Cheryl Biren on Tuesday, Feb 3, 2009 at 9:28:33 AM
You hit the nail on the head Cheryl... by Steven Leser on Tuesday, Feb 3, 2009 at 10:42:32 PM
nails and heads by William Whitten on Wednesday, Feb 4, 2009 at 1:21:39 AM
Speaking of 9-11 by wagelaborer on Tuesday, Feb 3, 2009 at 10:21:05 AM
Keep complaining...it won't help by Gai Sub on Friday, Feb 6, 2009 at 1:28:21 PM

 
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