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Sanctions against Russia are a tool of warfare and will backfire against the U.S. and its allies, leading to food shortages and potential food rationing in the short term, and damaging the U.S. dollar’s dominance in the long term, according to Michael Wilkerson, founder of stormwall.com.
“Russia has worked, for the last almost decade, to sanction-proof its economy…sanctions rarely work because the impact tends to be born by the sanction-imposing country,” Wilkerson told Michelle Makori, Editor-in-Chief and Lead Anchor of Kitco News.
0:00 – Gold sanctions
6:05 – Oil price cap
10:30 – Oil and gas production
22:00 – Sanctions will backfire
30:10 – Outcome of Russia-Ukraine war
34:00 – Death of the global monetary system
38:00 – Impact of Russian sanctions on U.S.
45:45 – Investment implications
49:30 – Sanctions that have failed
55:00 – New book
#oil #sanctions #russiaukrainewar
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