Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*
Macro Musings with David Beckworth
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The Anti-Dollar Gold Rush
The amount of reserves that Russia had built up prior to the sanctions being imposed after the Ukraine war starts, it was over 600 billion. And most of that effectively was taken away from Russia; they still have some dollars sitting in cash at CBR. There are MB reserves, which I want to say at the start of the war were maybe around 16, 17%. Those are obviously still liquid and the gold reserves, right, which 130, 140 billion, depending on the price of gold at the beginning of the war was in physical gold,. So that's really what's left.
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