Russian President Vladimir Putin delivered what was perhaps his most important speech, and definitely his most direct criticism of the United States, at the Valdai Conference in Sochi on October 24.

One independent analyst called it “the most important political speech since Churchill’s ‘Iron Curtain’ speech of March 5, 1946.” Another called it “epochal,” and a “marker of the end of the U.S.’s brief period as the one big, unchallenged bully on the block.” Another labeled the speech “a precursor to World War iii.”

Yet the mainstream Western media largely ignored the speech, instead focusing that day on America’s midterm elections, Nasdaq’s record gains of hollow wealth, and Queen Elizabeth ii sending her first tweet.

Mr. Putin has proven himself in recent years to be a leader unhindered by modern Western notions of what “appropriate” foreign policy is, unrestrained by the status quo, and absolutely unafraid to use Russia’s great might to further the nation’s interests.

For those reasons, his landmark Sochi speech should not be ignored. The main points of the 41-minute speech are as follows:

“Today’s discussion took place under the theme: New Rules or a Game Without Rules,” Putin said. “I think that this formula accurately describes the historic turning point we have reached today and the choice we all face.”

We have reached this vital turning point, Putin explained, because the United States mismanaged its strength and power. “Pardon the analogy, but this is the way nouveaux riches behave when they suddenly end up with a great fortune, in this case, in the shape of world leadership and domination,” he said. “Instead of managing their wealth wisely, for their own benefit too of course, I think they have committed many follies.”

“This [U.S.-led] group’s ambitions grew so big that they started presenting the policies they put together in their corridors of power as the view of the entire international community. But this is not the case.”

Vladimir Putin’s speech given on October 24

Putin said that as a result of America’s mismanagement of its power, and the lack of consensus in the international community, the era of U.S. global leadership is now at its end. America “threw the system into sharp and deep imbalance,” he said.

Putin spoke bluntly, saying the result of this imbalance could be another world war. “[L]et us not forget history’s lessons,” he said. “First of all, changes in the world order—and what we are seeing today are events on this scale—have usually been accompanied by if not global war and conflict, then by chains of intensive local-level conflicts.”

If the world stays on its current path, “we would be left with no instruments other than brute force,” Putin said.

In recent years, whether inside Russia or Georgia or Ukraine, Putin has shown he is not afraid to use brute force. He has demonstrated granite resolve and ability that is quite unlike most Western leadership. Because of this, the nations should pay close attention to his views and opinions. They should take note when a man commanding so much power says he sees changes underway that could ignite World War iii.

To understand why Putin’s speeches should not be ignored, and the jaw-dropping significance of the reign of this leader, read “Vladimir Putin Is the Prophesied ‘Prince of Russia.’”