Webinar: Russia is attacking Ukraine and the US$: Is this the end game?
Earlier this week, I participated in a webinar with Samantha Laduc and Marc Chandler discussing some of my recent thoughts on the Russia/Ukraine situation and the economic implications surrounding the attacks with respect to movements in the $, gold, commodities, inflation and the Fed.
The US government’s weaponization of the US$ has been met by Russia’s weaponization of energy and China’s weaponization of supply chain. This is leading to a global FX market that trades based on balance of payments and current account deficit/surpluses where excess govt reserves are increasingly going to be stored as gold The hegemonic position of the $ remains under pressure, exacerbated by recent decisions to sanction the Russian Central Bank’s overseas reserves. Putin still has an arsenal in his economic warfare artillery to play here against the West, as he helps drive energy prices higher likely leading to European recession. Big shifts continue to happen across global macro with the role of the $ at the center.
Hope you enjoy.
*Important Disclaimer: This blog is for educational purposes only. I am not a financial advisor and nothing I post is investment advice. The securities I discuss are considered highly risky so do you own due diligence.