Glazyev Exposes How Seizure of Russia’s Foreign Currency Reserves Is Causing U.S. Financial Suicide
Aug. 11, 2022 (EIRNS)—The incisive economic analyst Sergey Glazyev, Minister in Charge of Integration and Macroeconomics of the Eurasian Economic Commission, explained yesterday on “Moscow FM” radio that the United States, under its current leadership, had committed economic suicide last spring when it decided to seize Russia’s foreign currency reserves abroad. Now, all investors in the world have realized how dealing with U.S. debt and dollars is so extremely insecure. According to Glazyev, the action has led the Federal Reserve to agree to buy U.S. debt receipts.
Such stripping away of any semblance of financial responsibility has important consequences. After the fall of the dollar’s authority throughout the world, Glazyev said, the U.S. will lose its status as the world’s main power, which will ultimately end in its financial collapse.
As one of the consequences, Glazyev went on, the U.S. decline will enable China to reunite peacefully with Taiwan, without a single shot some time over the next 10-15 years. Any U.S. attempt to provoke China into a direct military clash over Taiwan will be doomed to failure. The “Celestial Empire” will quietly wait for America to lose its power—which will happen with the rapid degradation of the entire U.S. financial system—and, consequently, the loss of its current positions and opportunities. Even in the near term, America will be forced to retreat into the background.
China, on the contrary, will increase its power and its economic potential. And since time is on its side, the Chinese leadership will act wisely and not unleash a war to reunite with Taiwan, affirmed Glazyev.