Let’s take a moment and think about how dumb this is for the U.S. to do.
The U.S. sanctions mean the judges are now on a list of specially designated sanctioned individuals. Any U.S. assets they have will be blocked and they are put on an automated screening service used by not only American banks but many banks worldwide, making it very difficult for sanctioned persons to hold or open bank accounts or transfer money.
So basically, the U.S. has used it’s “exorbitant privilege” arising from the status of the U.S. dollar as the reserve currency of the world to set up and control a financial system that gives it tremendous power. It is now using that system to bully citizens of allies because they are applying international law in investigating criminal conduct. In what world would any sane country not see the potential for further abuse, and immediately being working towards building an alternative system that does not rely on the whims of an unstable dictator? Add in the severe erosion of U.S. trade resulting from tariffs, and the likelihood of the destruction of the U.S. dollar as Trump gains control over the Federal Reserve, and it’s pretty easy to see the days of the U.S. dollar as a reserve currency are numbered. This will crush the U.S. economy for decades.
it’s pretty easy to see the days of the U.S. dollar as a reserve currency are numbered. This will crush the U.S. economy for decades.
I think you’re right on the first part, so I don’t expect the US economy to recover to it’s current strength in just a few decades. It might have major ramifications for US businesses in the short term too. Microsoft taking away that judges email has definitely put more urgency behind the concept of digital sovereignty, but I can’t imagine that’s already visible in data on the US economy. I expect this snowball is actually still very small compared to what it can become.
Yeah you’d think that Microsoft and basically all US based tech would be in a pickle for blocking those emails but nope, Europe is still expanding its work with Microsoft.
It’s sad, I agree. But I do feel that snowball started to roll. Can’t predict how big it will get in the end, but I can’t imagine Europe will continue with this bullshit forever. I feel something has permanently broken.
Let’s take a moment and think about how dumb this is for the U.S. to do.
So basically, the U.S. has used it’s “exorbitant privilege” arising from the status of the U.S. dollar as the reserve currency of the world to set up and control a financial system that gives it tremendous power. It is now using that system to bully citizens of allies because they are applying international law in investigating criminal conduct. In what world would any sane country not see the potential for further abuse, and immediately being working towards building an alternative system that does not rely on the whims of an unstable dictator? Add in the severe erosion of U.S. trade resulting from tariffs, and the likelihood of the destruction of the U.S. dollar as Trump gains control over the Federal Reserve, and it’s pretty easy to see the days of the U.S. dollar as a reserve currency are numbered. This will crush the U.S. economy for decades.
I think you’re right on the first part, so I don’t expect the US economy to recover to it’s current strength in just a few decades. It might have major ramifications for US businesses in the short term too. Microsoft taking away that judges email has definitely put more urgency behind the concept of digital sovereignty, but I can’t imagine that’s already visible in data on the US economy. I expect this snowball is actually still very small compared to what it can become.
Yeah you’d think that Microsoft and basically all US based tech would be in a pickle for blocking those emails but nope, Europe is still expanding its work with Microsoft.
It’s insane
It’s sad, I agree. But I do feel that snowball started to roll. Can’t predict how big it will get in the end, but I can’t imagine Europe will continue with this bullshit forever. I feel something has permanently broken.
With that I agree as well