Posted on 03/14/2022 5:34:03 PM PDT by marcusmaximus
“And if you pay the bank with wooden nickels they take your car.”
Yes, but Russia’s Eurodenominated bonds are not equivalent to me paying with wooden nickels. I can’t threaten the bank with nukes.
Here’s a quote from a recent WSJ article:
“The stakes involve roughly $40 billion in Russian sovereign debt denominated in dollars and euros. Foreign investors hold $28 billion of Russian debt denominated in rubles as well.”
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