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Smart Silver Stacker
Apr 10, 2022
Global credit rating agency Standard & Poor has declared Russia to be in selective default, following Russia’s payment of Dollar-denominated debt in Rubles. However, Russia is not nearly as dependent on borrowing to finance it’s spending as many western nations, and while a forced Russian default may cause them some temporary economic pain, in the long run this will come back to bite the Dollar.
In order to maintain World Reserve Currency status, the US needs to maintain confidence in the Dollar, but moves like this by the Treasury do the opposite. By undermining the Dollar’s credibility as a debt instrument, this move could further drive Russia, China, and other BRICS nations towards a monetary system independent of the Dollar and western financial insitituions. Zoltan Poszar forecast such a move in his document “Breton Woods III”, and as time goes on it seems we are moving closer to such a shift in the global economy.
https://www.youtube.com/watch?v=V1aW7gC2WfI
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