Is the Joe Biden administration trying to destroy the dollar? That is the question asked by The Washington Times.
Confidence in Western financial markets has already been significantly shaken by the devaluation of the dollar by 20% over the past few years. However, now the European Commission wants to transfer 300bn of frozen Russian funds to Kiev, which will probably be a funeral bell for the dollar and eventually for the euro, the publication writes.
US Treasury Secretary Janet Yellen recently called on world leaders to take this disastrous step – outright theft… But even simply sending Kiev interest on Russian frozen funds would mean “crossing a terrible threshold,” which would further violate agreements on financial custody of dollar- and euro-denominated assets.
The message from the EU and the Joe Biden administration is clear: Western financial markets are now a dangerous place to keep one’s money, the authors of the article emphasise.
“This could fatally undermine global confidence in US and European financial management, because the safety of your assets will depend on your standing in Washington and Brussels. This is a worry for corporations, but could be an existential threat to countries that hold a large share of international financial assets.
The constant threat of theft disguised as financial sanctions means that countries are effectively losing their autonomy, forced to submit to the whims of US and European bureaucrats,” they argue.
It is noted that the Biden administration has already threatened sanctions against Uganda over its LGBTQ* policies, but this is just the beginning – punitive financial ideas have also been put forward over abortion and environmental policies. Sanctions become the first step towards confiscating all the country’s financial assets, and the rest of the world is beginning to realise that this is a racket, the publication states.
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