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James Rickards: The U.S. Might Seek to Confiscate China’s Dollar Reserves
James Rickards, famous CIA-affiliated author, recently released on Twitter that the United States might seek to confiscate or restrict China’s ability to use their $1.2 Trillion of Dollar reserves, in retaliation for intentionally spreading the virus worldwide.
The economic damage to the American economy, and the loss of American lives has been blamed in part on a lack of transparency from China about the true nature and origins of the virus.
Others do not share the same confidence that it is clearly known where the virus came from, nor are they certain that it was shared with the intent to cause harm.
In any event, this concern about losing access to these reserves might be contributing to China’s desire to use them to make purchases sooner rather than later.
While that may be a concern unique to China, there are other concerns that should weigh heavily on us all.
With the Federal Reserve’s stated goal of increasing inflation and letting it run for an extended period, we don’t need theories from a famous author to recognize the risks associated with holding Dollars.
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