Jim Rickards:
There are 1400 semiconductors in a modern automobile. Semiconductors are used in avionics, stoves, microwaves, fridges, dishwashers. They are everywhere in modern appliances.
Sanctions prohibit anyone from selling semiconductors to Russia, but 70% of the processed neon gas needed for the lasers to etch the chips comes from Odessa in Ukraine.
Did Biden’s sanctions just inadvertently shut down global manufacturing?