Following Vladimir Putin’s invasion of Ukraine, the U.S. government placed more severe sanctions on Russia than it had on any major power since 1941. It kicked Russia out of the SWIFT system, seized its FOREX assets, and demanded the rest of the world cease trade with Russia (which even some European allies were unable to do). In response, Russia has demanded payment for its oil and natural gas exports in rubles or gold. Tom Luongo joins Tom to explain how this plays into the economic war that was already raging before the Ukraine invasion.
Tom Luongo is a former research chemist, amateur dairy goat farmer, anarcho-libertarian, and obstreperous Austrian economists. He now publishes the Gold Goats, and Guns newsletter and podcast and contributes to a variety of publications, including, but not limited to Seeking Alpha, Russia Insider Halsey News and Newsmax media.
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It makes a great introduction to the government’s most economically damaging institution for liberals, conservatives, libertarians, socialists, and independents alike.
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