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What if Putin's war regime turns to MMT?
Sanctions are the chosen weapon of the West against Putin’s aggression.
Rather than starting small we have gone immediately to an attack on the central bank.
In response, the Russian central bank has effectively stopped capital flows our of Russia and nationalized foreign exchange earnings of major exporters. It now requires Russian firms to convert 80 percent of the dollar and euro earnings into rouble. This helps to bolster the rouble’s value and provides a flow of foreign exchange into the country.
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