Crescendo
By Doomberg
World War III enters a dangerous new phase.
“Oh, sure, we have another world war coming, and another great depression, but where are the leaders this time?” – Kurt Vonnegut
In the aftermath of annexing Crimea in 2014, Russian President Vladimir Putin faced a critical dilemma. Western nations, outraged by what they saw as shameless aggression, imposed a series of financial sanctions—asset freezes, investment restrictions, and other sweeping measures—against Russian entities and individuals. While similar sanctions had been pressed against lesser powers like North Korea and Iran, the weaponization of the US dollar system against a nuclear superpower and global energy juggernaut was unprecedented.
Especially precarious for Putin was the fact that Russia was running large trade surpluses and storing most of its bountiful excess reserves in Western debt instruments, including US Treasuries. What followed was one of the most consequential financial moves in modern history.
Putin switched from Treasuries to gold …..
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