Janet Yellen comes clean on seizure of Russian assets: Treasury Secretary admits using economic sanctions to punish other countries is backfiring on U.S. and killing the petro dollar

We all knew she was lying when she denied just a few weeks earlier that seizing $300 billion in frozen Russian assets amounted to 'theft'

Treasury Secretary Janet Yellen admitted earlier this month that U.S. sanctions levied against other countries are driving nations to de-dollarize and commit to trade agreements that use currencies other than the U.S. petro dollar.

Yellen admitted this in the wide open during a House Financial Services Committee hearing on July 9th.

Rep. Blaine Luetkemeyer (R-MO), told Yellen he believes a package of prepared sanctions needs to be ready when China inevitably moves to invade Taiwan. Yellen denied having any real knowledge or discussions about such issues.

The GOP congressman then asked Yellen what her biggest concern is when it comes to international financial relationships and trends. The Treasury Secretary admitted in the wide open that U.S. sanctions used to punish other countries are helping to erode the strength of the U.S. dollar.

She said:

“In the realm of sanctions, we have very powerful sanctions that are available because of the important role of the dollar in international transa…