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After Russia's invasion of Ukraine, the US took a number of extraordinary steps to cut Moscow out of the international financial system. The country immediately was hit with a slew of sanctions. It was cut off from the SWIFT payment system and it even had its dollar reserves seized. Prior to that, in 2021, the US took the rare step of seizing dollar reserves from Afghanistan's central bank after the Taliban's re-emergence to power. So how does the US control who gets to hold and transact in US dollars? Where did this power come from? What are the limits to the US policing of its own currency? On this episode of the podcast, we speak with Bloomberg Senior Reporter Saleha Mohsin, author of the new book, Paper Soldiers: How the Weaponization of the Dollar Changed the World Order. We discuss the buildup of this tremendous financial power and also what it means for the dollar's status as a reserve currency going forward. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: • Odd Lots Get the Odd Lots newsletter via https://www.bloomberg.com/account/new... And for all things Odd Lots, visit https://www.bloomberg.com/oddlots Visit our other YouTube channels: Bloomberg Television: / @markets Bloomberg Originals: / bloomberg Quicktake: / @bloombergquicktake #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: / podcasts For coverage on news, markets and more: http://www.bloomberg.com/video