Bill’s Commentary:
“This is the understatement of the century! If they can do this to Russia, no one is immune, and remember, when all is said and done, every nation will do what is in THEIR best self interest. Having your capital reserves confiscated …is NOT in the self interest of any nation…”
If the United States shifts frozen Russian assets to Ukraine, it would be cataclysmic for the US Dollar’s status as the global reserve currency, says Nobel Prize winning Yale professor, Robert Shiller.
“If America does this to Russia today… then tomorrow it can do this to anyone,” he told Italian news outlet La Repubblica in an interview published Sunday.
“This will destroy the halo of security that surrounds the dollar and will be the first step towards de-dollarization, which many are increasingly confidently leaning toward, from China to developing countries, not to mention Russia itself,” Schiller continued.
BillHolter.com 