MSNBC Morning Joe February 16, 2022 12:17:00
They have $650 billion of foreign exchange at the moment. that's the fourth largest of any country. it's 50% more than their total foreign debt. they only hold 16% of it in dollars. the rest is in euros, rmb, in gold, and all kinds of other stuff. by comparison, we are a reserve currency so it is not a fair comparison. we hold $250 billion in foreign reserves. he has the firepower, so to speak, the economic firepower, if you will, to withstand a fair amount of sanctions. lastly, just for interest, in terms of his military, they also spend roughly the same percentage of their budget on the mili...