Monday, September 15, 2014

The Foolishness Of The Sanctions War: Russian Money Gushes into Hong Kong

The Foolishness Of The Sanctions War: Russian Money Gushes into Hong Kong

Originally posted on Our New World:
So, Obama and the G8 group of nations declare sanctions, and what happens? Businesses in Russia are trading their reserves of US dollars for Hong Kong dollars. This is one more brick in the wall around the US. The world is slowly making the US irrelevant. Good job, Wall Street and corporate congress. Banks in both the US and EU are losing deposits to China.
Did you know that Russia and Iraq are have some of the largest oil and natural gas reserves on the planet? Somehow sanctioning them and bombing them, respectively, doesn’t seem to be a winning strategy for the US, does it? -LW

By Wolf Richter
The sanctions, the last batch of which took effect on Friday, are targeting with ever increasing intensity the Russian economy and a growing number of key individuals. The defense, financial, and energy sectors have been hit the hardest. Oil and gas…
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