Opinion > Columns
World money and power shifting rapidly

WORLD financial and political empires are shifting rapidly; we have to hope that the quakes and maelstroms will not swamp nations and ordinary people who don't live atop mountains or skyscrapers.

The attempt by the US and the EU to take over Russian sovereign funds that were agreed and guaranteed between nations of the world to be protected is shaking the foundations of international currency and trade. This is after disallowing their banks to transact with each other and disallowing the use of the Swift clearing system. At $300 billion not only to be sequestered but to be used for one side, Ukraine, against Russia in a war, is a clear indication that even major nations' funds and any assets are not protected by the international multilateral institutions, regardless of contracts, constitutions or agreements. What would that mean for small countries?