They will also stop using US banks to clear international transactions. That makes it harder for the U.S to impose sanctions on other countries.
If America’s Economists can devise any strong incentives for these countries to reject the New BRIC in town and stay with the American Banks, they better start speaking up about it now. Threats or vague, ominous statements won’t stop them. Once that traditional currency link is broken, it is bound to stay that way for several years as these countries assess the results of the experiment.
“They will also stop using US banks to clear international transactions. That makes it harder for the U.S to impose sanctions on other countries.”
Yep, and we lit a fire under their feet by weaponizing the US Dollar against Russia.
Not the BRIGHTEST move in our history.
The sanctions on Russia spooked a lot of countries.
It is totally understandable that they wanted a Plan B.