The Planet Money podcast on NPR covered the sanctions on Russia
I'll admit, I rolled my eyes a bit that the West's response to all this was "just" sanctions. Seemed kinda weak to me (at least compared to, say, parking a half-dozen aircraft carriers in the Black Sea).
I did know Russia had built up a war chest to be able to weather sanctions against them. What I didn't realize was how much of it was held in US, British, French, and Japanese banks that has already been completely cut off. At this point, it is just about impossible to exchange a Ruble for a Dollar, Pound, Euro, or Yen. And Chinese or Indian currency just don't have the global swag that those others do.
We (the entirety of Western civilization) hit Russia with weapons of mass financial destruction. That isn't going to take very long to hurt.
|
(
In response to this post by TabbHokie)
Posted: 03/03/2022 at 09:12AM