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‘US debt-based money printing biggest theft in history’

Posted by seumasach on March 7, 2010


7th March, 2010

Iran’s President Mahmoud Ahmadinejad asserts that the lingering global financial crisis has exposed the dark side of the capitalist economic system in the West, adding that the US will go down in history as the biggest thief ever.

In a Tuesday meeting with representatives of the Developing Eight (D8) countries, Ahmadinejad reiterated that western-style capitalism is the main reason behind the endless wave of problems plaguing global financial organizations, particularly in the US.

The Iranian president added that Western countries should face up to the fact that the greed of capitalism has pushed it into the brink of collapse.

“The whole idea of capitalism is based on emptying the pockets of world’s nations to secure the interests of a selected few,” he emphasized.

“Based on credible reports, the US Treasury over the past 30 years has printed more than USD 29,000 billion (USD 29 trillion) in debt-based banknotes and has given it to nations in exchange for goods. This method is the biggest theft in human history,” said the Iranian president.

Ahmadinejad also urged D8 member states to drop the American dollar in their various financial dealings and business transactions in the future.

Representatives from the D8 member states have gathered in Tehran to discuss ways of promoting economic and industrial cooperation.

The D8 members consist of Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.

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