"It’s a tectonic shift [the decline of an empire and the rise of another one]. Let’s look at this from Russia’s point of view. This is everything that Russia has been aiming at and insisting upon for the last five years. President Putin and Foreign Minister Lavrov have been leading the understanding that the world needs to be de-dollarized, that the United States has declared an economic war against Russia, China and their allies, really against Eurasia. So, in effect, by drawing the sanctions — not only the sanctions — but the most important thing is by seizing Russia’s foreign holdings in the United States, its treasury bond holdings and the bank deposits."
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Academics from the United StatesNon-fiction authors from the United StatesEducators from the United StatesHistorians from the United StatesEconomists from the United States
Original Language: English
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Grab Bag Imperialism, michael-hudson.com, (31 March 2022)
https://en.wikiquote.org/wiki/Michael_Hudson_(economist)
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Michael Hudson (economist)
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