Hi Warren,
You are exactly right. But I tend to think that ending the dollar’s role as the global reserve currency would be good for everyone. Yes, it would be painful in the short term. But “no pain no gain” is the
watchword. Clyde
From: Salon <salon-bounces@listserve.com> On Behalf Of
Warren Coats via Salon
Sent: Saturday, February 12, 2022 9:46 AM
To: Chas Freeman <cwfresidence@gmail.com>
Cc: Chas Freeman <salon@committeefortherepublic.org>
Subject: Re: [Salon] In the Name of the Patriot Act: That's Ours
The attacks on our liberties facilitated by the Patriot Act only worsen with time. But the rest of the world grows more weary with the reserve currency status of the US dollar as the US increasingly sanctions its uses for one reason or
another, sometimes unilaterally. Biden’s proposed confiscation of Afghan reserves at the NY Fed are another nail in that coffin. As they add up, plus growing concerns over the size and cost of US debt, we are ever closer to the one that sends the dollar over
the cliff.