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Any thought that Russia is the equal of any of the worlds great democracies is delusional. For example, compare the living standards in any of the Western European country to those of the typical Russian. Russia will never be equal until Russians have to right to criticize their government...

I might be better to describe the current situation as an "interdependence" rather than as a dependence. It is this interdependence that is in the process of changing.

Wars like that started by Russia in Ukraine have a way of realigning nations. There are many sources of commodities needed to support the modern democratic nations high standards of living. Alternative sources will take some time to be developed to the point they can replace Russian sources...

Well I have to doubt this is the case. I don't think the EU was joking when the ECB impounded Russia's foreign reserves account. And by now I would guess that even Mr. Putin doesn't think it's a joke. Do you think that the EU is joking when they provide weapons to Ukraine? If so, that "joking"...

Jesus! How naive can you be.

This is incorrect. The bond represents a contract between lender and borrower. the payment must be made in Euros in the specified amount. Payment in any other way without the consent of the bond holder is a default.

The action that caused Russian foreign currency reserve accounts to be frozen were all initiated by Russia. Russia could have prevented a default by obeying international law and international norms for behavior. Putin decided to commit war crimes instead. You should not be surprised if there...

It's is a real default. Those Russian Euro reserves that are frozen are frozen indefinitely and might ultimately be subject to international Court action that could cause them to be attached to pay war reparations. All up in the air at this point. If you don't pay according to contract that's a...

This is terribly weak thinking.

Use them. You'll WIN!!!

Ordinarily some one here would remind you that there is a Congress, but it turns out Congress is moot. It is true that Constitutionally speaking, the President has very little power, and nearly all power is in Congress's hands. Practically speaking, however, you, as President, can do whatever...

What does "digital dollar" mean?

I loved the old Datsuns, especially the Z. Simple and reliable.

I'll sell you my FIAT 2000 for four FIAT 500.

Make that a "Reserve Curency" and I could agree. That basket made good sense in 1944, but Dexter White and the U.S. Treasury Department saw differently. They wanted more control than the basket would have given the U.S. And insisted on a gold backed dollar being the reserve currency. All of...

One of the obligations that we took on as supplier of the reserve currency is to accommodate other central banks need for dollar liquidity. This may take the form of short term loans to other Central Banks. The U.S. Central bank, to my knowledge, virtually never loans without collateral. The...

Yes the limit is demand, and demand has a limit. When in aggregate the nation has as much credit as it can afford demand has, in aggregate, reached it's limit. True for both individuals, busineses and corporations.

"infrastructure" encompasses a very wide range of national assets. Not highways only.

U.S. Strike in Iraq Kills Qassim Suleimani, Commander of Iranian Forces, an unproductive and stupid thing to do. President Donald J. Trump Keeps His Promise To Open U.S. Embassy In Jerusalem, Israel Because The Obama Administration had wisely opposed opening an embassy in Jerusalem, knowing it...

I agree completely. The fed continued QE far to long. And they failed to correctly assess what the impact of the covid pandemic payments would be on top of their easy money. They adopted monetary policy suitable to a recession. There was covid caused unemployment, however the payments...