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Like how the US impotently tried to destroy the Russian economy by fully weaponizing the USD, how did that work out? Not so great - all that served to do is beg
by sennight 3y ago
Like how the US impotently tried to destroy the Russian economy by fully weaponizing the USD, how did that work out? Not so great - all that served to do is begin the process of displacing the dollar as the world reserve. There is a point when your attempts to isolate a target only serve to further isolate yourself - and we are well past it.
- tomcar288 3y agoi don't see why this was downvoted. It's entirely correct that the impact on the russian economy was far less than hoped for. One youtube documentary I saw stated -2% GDP, whereas the expected amount people wanted and expected was on the order of 20 to 30%. they go into quite a bit of detail on why this is the case. And USD, is well on track to be displaced in a few decades: central banks across the world are dumping dollars on average 6% of US dollar reserves per year (although this was already started abeit more slowly in 2008).