Credit Suisse Freezes $5 billion of Russian Money due to U.S. Sanctions – A Recipe for Accelerated De-Linking from the Dollar Economy 

A few days ago, Reuter reported that Switzerland’s second largest bank, Crédit Suisse, has ‘frozen’ about 5 billion Swiss francs of Russian money, or about the same in US-dollars, for fear of falling out of favors with Washington – and being ‘sanctioned’ in one way or another. Crédit Suisse, like her bigger sister, UBS, have been amply punished already by[Read More...]