Letter # 79 | 15 March 2022 |
Due to sanctions, Russia (and its oligarchs) have not been able to utilize its vast reserves (and wealth) when they needed it the most… despite holding it in different countries and currencies. We all know this part.
However, this begs the broader question, does diversification really help in the new world order? In my article in the ET today, I write that in theory, it does; however, in practice, it is another story altogether.
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