by Jeffrey P. Snider
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| Paul Buitink talks to Jeff Snider of Alhambra Investments. Jeff explains how Russia, despite the sanctions, is still using the eurodollar system to transact internationally, for example by using off-shore banks across the world and middle-men in China and India. Not being part of Swift is difficult but doesn't stop them from using the eurodollar system. Jeff comments on the ruble exchange rate and how the threat of stopping gas or payments provide for mutually assured destruction between Russia and Europe. Jeff and Paul talk about freezing reserves and if gold can be a solution and also about Zoltan Pozsar's Bretton Woods 3. Follow Jeff here: https://twitter.com/JeffSnider_AIP Follow Paul here: https://twitter.com/paulbuitink Further reading: https://www.washingtonpost.com/business/energy/how-war-and-sanctions-make-the-ruble-harder-to-trade/2022/04/11/8d267832-b9a9-11ec-a92d-c763de818c21_story.html https://www.bruegel.org/2022/04/a-sanctions-counter-measure-gas-payments-to-russia-in-rubles/ https://www.theclearinghouse.org/payment-systems/chips https://en.wikipedia.org/wiki/Cross-Border_Interbank_Payment_System https://www.cbr.ru/eng/psystem/fin_msg_transfer_system/ |
Jeffrey P. Snider is the head of Global Investment Research of Alhambra Investment Partners (AIP). Jeffrey was 12 years at Atlantic Capital Management where he anticipated the financial crisis with critical research. His company is a global investment adviser, hence potential Swiss clients should not hesitate to contact AIP
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