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The Iranian chief executive raised the alarm on overprinted paper dollar destroying the world economy. US Federal Reserve has inundated the world financial markets with excess of 32 trillion dollars, the kind of paper money that has been printed out thin air, warned Ahmadinejd in an address to the Fourth UN Conference on the Least Developed Countries in Istanbul, Turkey.
‘…This is while the US budget deficit for the 2011 fiscal year is expected to reach a figure above USD 1.6 trillion,’ Ahmadinejad added. The Iranian President noted that most underdeveloped/poor economies almost always end up paying a heavy price for Western financial negligence. ‘Most of international economic organizations either defend the existing situation or serve the interests of certain states,’ said Ahmadinejad.
‘…This is while the US budget deficit for the 2011 fiscal year is expected to reach a figure above USD 1.6 trillion,’ Ahmadinejad added. The Iranian President noted that most underdeveloped/poor economies almost always end up paying a heavy price for Western financial negligence. ‘Most of international economic organizations either defend the existing situation or serve the interests of certain states,’ said Ahmadinejad.
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