Internet backbone provider shuts off service in Russia

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[–]Jackalope 8 insightful - 4 fun8 insightful - 3 fun9 insightful - 4 fun -  (5 children)

How do you feel about this kind of economic warfare? It seems to me that it might cause as much suffering and deaths as real war, and mainly among innocent civilians

[–][deleted] 6 insightful - 3 fun6 insightful - 2 fun7 insightful - 3 fun -  (4 children)

I'm not sure this is in America's best interest as it provides a compelling reason to ditch the dollar. What is to stop us from economically blackmailing any country that doesn't do what we want.

I'm not worried about Russians too much, they don't need to import food or fuel, they won't starve or freeze. Luxury foreign consumer goods they can live without.

I don't know what else we could have done besides sit back and impotently let Russia do whatever it wants, which might embolden them, and lead to a direct confrontation with NATO when they try to grab another former Soviet Bloc country.

[–]restlessincanada 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (3 children)

i also worry about this, it not good for the US dollar or any nation that uses it as their reserve currency if nations like Russia and China move away from it. there is some talk that these sanctions could push russia towards a gold standard, not sure how likely that is but i dont like the uncertainty that this is creating.

[–]filbs111 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

That should reduce the extent to which the US Fed can get away with debasing the currency. Every cloud has a silver lining!

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Russia has been on the gold standard since at least 2016.

[–]restlessincanada 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

i think that right now the US dollar is the reserve currency worldwide. but there has been talk of russia and others moving away from the dollar and towards gold and other foreign currency.