Finland and Sweden End Neutrality
GDP Forecasts Tumbling
The US Dollar
MMT and the Ruble
Gold-Backed Fiat Currency Does Not Exist
U-Turn by China?
Germany to Supply Ukraine with Weapons
Paying Back Debt
When the US and EU cut off Russia from the SWIFT payment system, Russia cannot pay its debt.
This creates a demand for US dollars and some have suggested the Fed step in. The idea is not to aid Russia but to aid companies in the US and EU that Russia owes.
I suspect this is the second reason Putin did not expect to be cutoff from SWIFT. The first reason is the EU's, especially Germany's dependence on Russia's natural gas.
Thoughts on China
Beijing Says Russia and China Not Allies
Even Switzerland Joins the Sanction Parade
Protests in Moscow
Putin Seems Delusional
Switzerland's move is a unique break from its decades-long policy of strict neutrality.
Nearly the whole world is now united against Putin.
In case you missed it, please see Russian Ruble In a Freefall, Plunges to Record Low Against the Dollar
This post originated on MishTalk.Com.
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