Sanctions will destroy the dollar

Real Money-theStreet.com/Mike Norman/8-8-2017

“The United States is increasingly using sanctions as a form of warfare. When we can’t attack militarily we use sanctions. In many cases the result is the same as bombing supply lines only without the bombs. It’s a form of soft warfare that targets a country’s economy and its ability to transact business and safeguard its financial wealth in today’s dollar-based economy.

Do you know what the result of these sanctions will be? The dollar will get crushed.”

MK note:  Mike Norman has an interesting take on the impact of sanctions.  He says the dollar eventually will lose its global reserve status because of sanctions.  “There is simply too much risk,” he says, “for the rest of the world to have the global financial system resting on dollars when at any moment, all or a portion of that system can be shut down by a bunch of hotheads in Congress or, a president who tweets.

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