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Keyword: notunintended

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  • Unintended Consequences: Reaction to Russia-Ukraine War Will Weaken US Dollar (and hasten China’s ascent to global power)

    03/06/2022 9:01:16 PM PST · by SeekAndFind · 45 replies
    Daily Trade Alert ^ | 03/06/2022 | Shah Gilani, Total Wealth
    On Tuesday, CEO of JPMorgan Chase Jamie Dimon warned the world that cutting Russia out of the SWIFT system would yield “unintended consequences.”That’s a monumental understatement.In short, SWIFT is a system banks use to securely and quickly communicate transfer instructions across international borders. Cutting off an entire nation and its people from this system will have steep consequences across the globe.We could be looking at the potential demise of the US dollar as the world’s reserve currency, another likely Lehman moment, and the acceleration of China’s progress from third-world nation to global power.Here’s how the US’s influence on this apolitical...