Roubini -- Prepare for a Currency WAR

President Putin said he reserved the right to use force to defend ethnic Russians while there's "no such necessity" at present Russia vows to switch to other currencies over US sanctions threat "If sanctions are applied against state structures, we will be forced to recognize the impossibility of repayment of the loans that the US banks gave to the Russian structures. Indeed, sanctions are a double-edged weapon, and if the US chooses to freeze our assets, then our equities and liabilities in dollars will also be frozen. This means that our banks and businesses will not return the loans to American partners,"


 Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics