The Sanctions Have Backfired
The Sanctions Have Backfired
Paul Craig Roberts
The idiot Biden Regime’s sanctions have turned out to be a great gift to Russia while driving up inflation in the US and its empire, forcing Washington to remove some of the sanctions. https://www.rt.com/business/553034-us-russia-fertilizers-sanctions/
The sanctions have created a great opportunity for import substitution in Russia. Russian investment in the Russian economy prevents foreign ownership from taking the profits out of the country. Instead the profits are reinvested and enrich Russians instead of Westerners.
The sanctions also save Russia from globalism and save her sovereignty with it, while breaking up the Bretton Woods agreement that gave the US a financial and currency monopoly. The main effect of the US sanctions is dedollarization, that is, the end of the dollar’s role as world currency. This means the end of the free ride the US has had from foreigners financing the US trade deficit. Americans will soon be experiencing life no longer subsidized by the rest of the world.
Russia is now set for rapid economic growth like China once Putin gets rid of his incompetent central bank director. The current central bank director is 100 times more damaging to Russia than sanctions.
The American Empire is not the real problem Russia faces. Its real problem are the pro-western globalists in its own upper circles. These Russians are the real danger to Russia. Everyone of them is a de facto American agent. Washington is hoping they will assassinate or overthrow Putin, or in the least continue to restrain his effectiveness.
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