The verbal combat continues as the US resorts to using Jack Lew in its latest barrage of panic-inducing threats:
- *LEW SAYS RUSSIA NEEDS TO 'TAKE A STEP BACK'
- *LEW: U.S., ALLIES WORKING TO ENSURE RUSSIANS 'PAY THE PRICE'
- *LEW SAYS U.S. PREPARED TO ACT IF RUSSIA DOESN'T STEP BACK
- *LEW DECLINES TO COMMENT ON CONTENT OF POSSIBLE SANCTIONS
As a gentle reminder, while the Ruble has weakened since the sanctions (oh and Russia's credit rating has been downgraded), it is US equities that suffered the largest "costs"…
Of course, we should not forget what happened last time things got close to the edge…
Here’s a startling fact most investors have never heard: During the last financial meltdown in 2008, when the U.S. economy was on the brink, Russian leaders met with China to persuade them to dump the dollar – and destroy the world’s reserve currency.
Before they could act, the Fed pumped over $700 billion into the economy and delayed their day of reckoning. Still, the threat remains. China holds over $1.2 trillion in U.S. debt today. And with their Russian allies, they could drop the dollar at any moment. This excerpt from our eye-opening documentary called “Meltdown America” explains the severity of this imminent threat:
For the full story and to learn more about what could be “the early stages of the end of the West,” click here to watch the full version of this documentary.
You’ll hear the harrowing and true stories of three people who survived economic and political collapse in Zimbabwe, Yugoslavia, and Argentina… and discover how their powerful stories of hardship foreshadow what's happening in the U.S.
Click here to watch this full-length documentary right now – it’s FREE!
via Zero Hedge http://ift.tt/1nNlw5K Tyler Durden