Russian Prime Minister Vladimir Putin on Monday gave a speech to pro-Kremlin youth in which he accused the United States of acting like a "parasite" on the global economy by massing up uncontrollable debts that threaten the financial system of the world.

Putin stated, "The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite."

The former Russian president Putin also commented that the US may have thought of the idea to default on the debt to weaken the worth of the dollar in order to "create better conditions for exporting their goods," but that the US had "enough common sense and responsibility" not to default.

Repeated comments by Putin have been made criticizing the United States' foreign policy and budget issues relating to both China and Russia.

He insisted that the global economic powers seek new reserves to trade and save if U.S. debt is downgraded with the falling value of the dollar.

"If the U.S. encounters a systemic malfunction, this affects everyone," Putin told the Russian youth on Monday. "There should be other reserve currencies."

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