Re: [Salon] In the Name of the Patriot Act: That's Ours



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.

 

Warren Coats

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On Feb 12, 2022, at 12:02 PM, Chas Freeman via Salon <salon@listserve.com> wrote:

 

 

Putting your reserves in American banks has its perils.  A timely reprise of 2003's snatch of Iraq's reserves.

 

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