Western Sanctions Against Russia Backfire

Is this something they didn’t anticipate?  If so, they should be fired for incompetence.  But I think they gamed this out to the hilt, it’s part of the plan for weakening the US to the point where it (as well as russia) falls like ripe fruit into the hands of a new global bankster government.   Both sides are sacrificial pawns.  Seriously, can you think if ANY foreign policy in the past 25 years that served the national interest?

Sanctions Against Russia Are Hurting the West

We noted last month that major American business groups are opposed to sanctions against Russia, as they hurt U.S. businesses.

We pointed out that sanctions against Russia are backfiring because they are:

We quoted Zero Hedge to show that – in some ways – sanctions hurt our own economy more than the Russian economy.

The fact that sanctions are backfiring is starting to spread …

Bloomberg notes:

U.S. and European Union sanctions against Russia threaten to hasten a move away from the dollar that’s been stirring since the global financial crisis.

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While no one’s suggesting the dollar will lose its status as the main currency of business any time soon, its dominance is ebbing. The greenback’s share of global reserves has already shrunk to under 61 percent from more than 72 percent in 2001. The drumbeat has only gotten louder since the financial crisis in 2008, an event that began in the U.S. when subprime-mortgage loans soured, and the largest emerging-market nations including Russia have vowed to conduct more business in their currencies.

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“The crisis created a rethink of the dollar-denominated world that we live in,” said Joseph Quinlan, chief market strategist at Bank of America Corp.’s U.S. Trust, which oversees about $380 billion. “This nasty turn between Russia and the West related to sanctions, that can be an accelerator toward a more multicurrency world.”

http://www.washingtonsblog.com/2014/08/loser-sanctions.html