As the Western world continues to slide into the dust bin of history, it is not going without a fight. As with any “wounded animal”, once the reality of pain permeates the body, it typically lashes out at anything or anyone within arms’ reach. In the case of the Western world, arms’-reach is merely the push of a button and everything begins to change.
What Europe has already come to realize is these meaningless Russian and Iranian sanctions only hurt western manufacturing and have minimal impact on the country the sanction is directed. Threatening to cut off China from the SWIFT system is akin to threatening to keep a person out the restroom in a home with multiple restrooms – it doesn’t matter as there are alternatives and they simply begin using the alternative and go about their business. The financial weapon known as the SWIFT system fired it’s only bullet in 2011 when Iran was locked out. The chamber is empty and there will never be another bullet for this particular weapon. All it really does is upset people to the point of China actually telling the U.S. “ calm down and stop making threats“.
If the Trump administration puts sanctions on China, this would hurt America more because it just forces China and Russia and other countries to cooperate, says investor and financial commentator Jim Rogers.
US Treasury Secretary Steven Mnuchin warned on Tuesday that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, saying that the restrictions could involve cutting off Beijing’s access to the US financial system.
“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful,” Mnuchin said at the Delivering Alpha Conference in New York City.
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