The World Banker Is Going to Just Take Our Money

U.S.-led sanctions have boomerang, says Michael Kofman of the Carnegie Endowment for International Peace. Bilateral agreements between countries proliferating over last year with sanctions on Russia and so on., he adds. Other indicators include share of dollars in central banks' reserves going down to 60 percent from 70%. And there is also this whole issue of central bank digital currencies, which will be important as a way of displacing the dollar," writes Kofman.