- Financial Survival Network
- Posts
- We’re Our Own Worst Enemy
We’re Our Own Worst Enemy
by James Rickards Daily Reckoning
It’s a fact of life that in any group of students, some are likely to be smarter and quicker than others while some just can’t keep up.
It’s unfortunate that Treasury Secretary Janet Yellen has turned out to be the slow kid in the class when it comes to economic sanctions and financial warfare.
Almost 10 years ago, I sat in a secure conference room at the Pentagon and explained to a group of U.S. national security officials from the military, CIA, Treasury and other agencies that the overuse of the U.S. dollar in financial warfare would eventually drive countries away from using dollars in international transactions for fear that they could become the next target of U.S. displeasure.