vacuum
3rd March 2022, 03:34 AM
Western central banks basically seized hundreds of billions of dollars in reserve holdings accounts that the Russian central bank had. These are known as FX or foreign reserves.
This is almost like defaulting on debt.
Nations around the world are now asking themselves what the point of holding dollar reserves even is, when they don’t provide any safety in times of trouble.
They are also asking themselves what the hell to buy with all those fiat reserves.
Inevitably, PMs are going to get outlawed.
https://www.zerohedge.com/markets/zoltan-pozsar-warns-russian-sanctions-threaten-dollars-reserve-status
This is almost like defaulting on debt.
Nations around the world are now asking themselves what the point of holding dollar reserves even is, when they don’t provide any safety in times of trouble.
They are also asking themselves what the hell to buy with all those fiat reserves.
Inevitably, PMs are going to get outlawed.
https://www.zerohedge.com/markets/zoltan-pozsar-warns-russian-sanctions-threaten-dollars-reserve-status