While official Washington is in contortions over reaching a deal on the U.S. budget in time to avoid a default on government debt—Treasury Secretary Janet Yellen helpfully waved her magic wand and extended the do-or-die deadline from June 1 to June 5—the Chairman of Russia’s State Duma Vyacheslav Volodin, cut to the chase: the entire debt structure is a pyramid scheme holding up a gigantic financial bubble, the major costs of which Washington is foisting on other nations.
“Just think about it, in 2023 interest payments on the U.S. debt could reach $1.5 trillion—almost a third of all U.S. budget revenue!” Volodin wrote in a Telegram post on May 26. “The U.S. public debt is a global financial pyramid, built by Washington to defraud other nations. History has shown that all pyramid schemes eventually fail,” he added, warning that the dollar is becoming toxic.
RT added: “Countries dependent on the U.S. dollar should start looking for alternatives such as national currencies, to reduce risks for their citizens, Volodin concluded.”
