Self-destructive stupidity is the United States' proudest product?

© 2022 Peter Free

 

28 June 2022

 

 

Remember the United States' ban on Russian bond payments?

 

The one that was calculated to force Russia into an artificial default.

 

The one that punishes Americans for owning investments in Russia-issued bonds. But does nothing of actual substance to its intended Russian target.

 

In other words, a ban so self-destructively stupid that only an Idiot Mother could love it.

 

 

Compounded by more of the same

 

When it comes to doubling down on self-destruction, nobody holds a candle to Americans and Europeans.

 

Consider the following (certainly accurate) perspective about the Russian bonds topic from a French economist:

 

 

The financial expert said that the blockage was intended to warn off the financial world from doing business with Russia, but it merely showed that domestic currencies were a safer means of transactions.

 

“If major deals will be struck tomorrow between Taiwan and Korea, it will not be in dollars anymore, but in one of their national currencies. The result will be the end of the dominance of the US dollar," [Charles] Gave said.

 

"As for Russia, it will redirect its international bond issuance via Chinese banks in Shanghai, Beijing or other places around the world. This will, above all, be detrimental for the US and European financial markets," he suggested.

 

US news agencies have labeled it Russia's first default on external debt since 1918. Russia has argued that it not a genuine default since it can and is willing to pay and accused international financial institutions of blocking payment transactions.

 

© 2022 Sputnik International, Blockage of Russian Bond Payments to Erode Dollar Dominance, French Economist Says, sputniknews.com (27 June 2022)

 

 

The moral? — American Government, dumber than a toad's stool

 

These are the people, who bleed us dry.