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Why wouldn't Russia do the same to US ships then?
by nine_zeros 5y ago
Why wouldn't Russia do the same to US ships then?
- rasz 5y agoDoes US owe Russia money?
- s1artibartfast 5y ago>America and its Western allies had frozen roughly half of the country’s $630bn foreign-exchange reserves. That's a lot of Russian money that the US has possession of and wont give back
- neilwilson 5y agoWhat do you think 'US dollar foreign reserves' are? A dollar is a promise that the US will supply goods and services in the future to whoever holds it. Hence "full faith and credit". All money is debt. The West defaulted on its debt first, and other countries in the world holding Dollars, Euros and Pounds as 'reserves' noticed that the West can stop them using those Dollars, Euros and Pounds whenever they feel like it. It's not just Russia's "credit rating" that has been affected here. Expect countries shipping their exports to the West to demand real things in return, not just financial promises that may not be delivered.