Putin: the global financial system serves the interests of the “golden billion”

The global financial system works in the interests of the “golden billion,” Russian President Vladimir Putin said at the first parliamentary conference “Russia – Latin America.”

“Modern financial and credit relations are structured in the world in such a way that they serve exclusively the interests of the so-called “golden billion.” The leaders of these “golden billion” countries exploit almost all other countries in the world,” the president said (quote via Interfax).

According to him, such countries “abuse their position.” “And technological, and informational, and financial,” Putin clarified. He suggested thinking about changes, since current loan obligations are already “quitrent” and “indemnity”.

Last fall, the Russian President also called to reconsider the principles of the global financial system, which “for decades allowed the self-proclaimed so-called “golden billion”, which closed all the flows of capital and technology, to largely live at the expense of others.”

Putin then noted that the locomotive of global economic growth is now the countries of Asia and Russia stands for expanding ties in various sectors of the economy, as well as creating an open space for mutually beneficial trade and investment cooperation in the region.

The Russian leader has repeatedly said that the model of a unipolar world has outlived its usefulness. According to him, the trend towards multipolarity is strengthening in the world, and those countries that resist this will lose.