Loading ...It’s The End Of The Foreign Exchange Reserves As We Know It… Don’t Feel Fine About It – Luongo
The world we’ve known is over. The US Congress finally pushed the big red button. When the West froze around $300 billion of Russia’s foreign exchange reserves in March 2022 it was the first step in breaking down the system of foreign exchange reserves that makes up the global economy.
Freezing assets of countries they are mad at isn’t new behavior from the locusts that run the G-7 countries. Freezing assets, however, isn’t really theft, it’s just the tip.
Because the recent actions by the US vis a vis Russia and China is so dumb it defies description. Congress has authorized President Joah Bii-DEN! to seize Russia’s foreign exchange reserves as they have threatened to do for the past six months and hand the money to Ukraine.
This isn’t the tip anymore, this is just outright theft.
And they call this winning.