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217 - The Economics of the War

The David McWilliams Podcast

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Is the West Willing to Cut Off the Russian Economy?

Mar just ont on the issue of sanctions there. Explain to me exactly what swift is, and why banning russia for swift would be so much more detrimental than other forms of sanctions. Because swift is one of these geekee things. It can turn out to be very, very important and very powerful. Cutting off swift is the easiest way to do that. But you could also just sanction all activities, all transactions with russian banks. You could er freeze all assets that you can get your hands on of the Russian central bank. There are many things you can do.

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