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    $10 and the US Treasury

    Chechen Leader Warns US Financial 'Pyramid' to Fall Apart 'Soon Enough'

    © CC BY 2.0 / Ryan McFarland / $10 and the US Treasury
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    The United States has built a financial pyramid to siphon off global money into its own economy, but this scheme will unravel soon, the acting leader of Russia's Chechen Republic told Sputnik in an interview.

    GROZNY (Sputnik) – The United States has the world’s largest national debt which surpassed $19 trillion this year. The cause has been attributed to excessive government spending, mandatory entitlement programs as well as a steep decline in tax revenue following the 2008 financial crisis.

    "They are not investing their own money, it is our money they are investing," Ramzan Kadyrov claimed.

    "Look at their debt. They are running a clever scheme. It is a pyramid and it is bound to fall apart. We will see that soon enough."

    "How many [US] cities have already become ghost towns? They are impossible to maintain, there is no life there, entire cities lie abandoned," Kadyrov continued.

    The Michigan city of Detroit became the largest city in US history to be declared bankrupt in 2013. It has recently come out of bankruptcy, but was warned it should not expect new money coming from the federal government.

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    Tags:
    debt, economy, Ramzan Kadyrov, United States, Russia, Detroit, Chechnya
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