Friedberg states Russian sanctions wiped out $600 billion in retirement fund value held globally.
“And they were all delisted around the world. Over $600,000,000,000 of value was wiped out.”
Friedberg reveals Russian sanctions wiped out $600 billion in pension fund value, not wealthy investors' holdings.
“And so part of our economic sanctioning of removing Russian stocks from European and US listed stock exchanges caused a $600,000,000,000 wipeout in value”