Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*
Macro Musings with David Beckworth
00:00
The History and Impact of US Financial Sanctions on Russia
Russia's history and experience with US financial sanctions predate by about eight years, right? The start of the war. And so if we look back at that history, how does Russia respond? Well, in 2014, the initial response is publicly railing against the dollar. But they're recognizing that the dollar is kind of to blame here. They start to move more into gold.
Transcript
Play full episode
