108. A New World Monetary Order The ramifications of the Russian invasion of Ukraine
March 17th 2022. After the Russian invasion of Ukraine, the US confiscated the Russian central bank’s significant monetary reserves, and banned some Russian banks from the SWIFT network. Serious questions are being asked about the survival of the postwar dollar-based world monetary order. Will Russia, China, and other countries actually build an alternative international settlement system, after years of threatening to do so? Will global central banks stop accumulating US treasury bonds and r...