Russia freezes major euro bank assets.

@Strictmichael75 If it is China, America will lose the $US trade currency deal and the economy is toast...😷

@whowasthatmaskedman China could sink the US economy today with all the dollars it has

@Strictmichael75 Yes and No.. They could damage the dollar and tip the share market. But the govt now can print more dollars to paper over the cracks. If the chinese wait until a large part of the world is no longer using $US for trade, then the value od the $US falls and China can then move, flooding the market and pushing the $US down in value even more. At this point they will insist on being paid for their exports in something other than $US and then the US has to buy that currency in the market, making Chinese imports horrendously expensive and inflating the cost of living. If America chooses to set up competition locally they will face equally high costs and long lead times..The economy and standard of living would be trashed..😷

@whowasthatmaskedman If China dumped all their dollars on the market the dollar wouldn’t be worth the paper it’s written on!

@Strictmichael75 While its true it would bounce the $US severely in terms of imported goods, the local industry effect wouldnt be felt as fast or as extreme. A big mac and fries wouldnt go up as much as a new Monitor..But car components for Ford and GM would drive the price of "American " cars up quickly..😷