Iranian President Mahmoud Ahmadinejad predicted the impending downfall of the "US empire," blaming the collapse on a combination of the country's massive debt and its loss of legitimacy within the international community, Iran's official news agency IRNA reported Thursday.

“How long can a government with a $16,000 trillion foreign debt remain a world power?” he asked at a press conference with Kuwaiti media personnel. "The Americans have injected their paper wealth into the world economy and today the aftermaths and negative effects of their pseudo-wealth have plagued them.”

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