The Definite Way to Bring About America’s Collapse Is to Steal a Nation’s Money, Scaring All Other Nations into Not Investing in Our Debt, and Indeed Selling Securities Currently Held.
In a strategic maneuver to overcome Congressional delays and expedite crucial financial aid to Ukraine, President Joe Biden’s administration is supporting legislation that could pave the way for the appropriation of approximately $300 billion in frozen Russian assets. This policy shift comes as the White House endeavors to garner congressional backing for additional funding in the ongoing conflict against Vladimir Putin’s forces, as reported by Bloomberg. Many fear this has and will push Moscow further into China’s pocket.
White House Backs Seizing $300 Billion in Russian Funds Bloomberg reports, “President Joe Biden’s administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for reconstruction of Ukraine, a shift as the White House seeks to rally support in Congress to further fund the war against Vladimir Putin’s forces. The administration welcomes “in principle” a bill that would allow it to confiscate the funds, according to a November memo from the National Security Council to the Senate Foreign Relations Committee.” Only a small portion of the funds are held in the US, and about $200 billion in held in Europe. It is unclear if America’s allies are willing to go along with the scheme. – Kyle Anzalone
The primary objective of this legislative proposal is to utilize the seized Russian assets to contribute to the reconstruction efforts in Ukraine. The hope is that this unconventional approach will not only address the urgent need for financial support but also ensure the continuity of essential services and salary disbursements in the war-torn country.
After the G7 began considering ways to confiscate frozen Russian assets, Russia decided to fully convert its foreign exchange reserves into Chinese yuan. In other words, Russia’s foreign exchange reserves are now dependent on the Communist Party of China (CPC) and their decrees, because there is no free conversion of yuan anywhere in the world. This officially confirms Russia’s status as an appendage country to China.
The Biden administration’s inclination towards this measure was initially signaled in November when a memo from the National Security Council was submitted to the Senate Foreign Relations Committee. The memo conveyed the administration’s willingness, “in principle,” to entertain legislation that would empower it to confiscate the frozen funds.
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The Biden administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for the reconstruction of Ukraine.
About. Damn. time. pic.twitter.com/9RvcRcKVHA
— Republicans against Trump (@RpsAgainstTrump) January 10, 2024
If the proposal secures approval, the plan outlines the redirection of Russia’s immobilized central bank and sovereign assets, including assets belonging to oligarchs such as luxury superyachts, held in Western nations. The intended destination for these seized assets is Kyiv, where they would contribute to the financial rehabilitation and reconstruction efforts.
The Financial Times aptly characterized this potential move as a “radical step” that could mark a new phase in the West’s financial strategies against Moscow. The move is expected to provoke strong reactions from Moscow, perceiving it as an audacious act of theft.
Bad idea… They need that money right now for weapons. Because if this war keeps dragging on it’s going to cost three times more to rebuild Ukraine… – Grumpy Cat Dad
The urgency for such creative financial measures arises from a combination of war fatigue and a sudden decrease in funding for Kyiv. Washington, in collaboration with its G7 partners, is exploring unconventional avenues to address the pressing financial needs of Ukraine.
The New York Times shed light on the controversy surrounding this proposal and the anticipated repercussions. Treasury Secretary Janet L. Yellen, until recently, maintained that seizing the funds without congressional action was “not something that is legally permissible in the United States.” Additionally, concerns were raised among top American officials about the potential reluctance of nations worldwide to keep their funds at the New York Federal Reserve or in dollars if the U.S. established a precedent for seizing such assets.
Russia already has a list of assets that can be seized from foreigners in response to their actions, Peskov.
The United States previously invited working groups from the G7 countries to study various ways to seize Russian frozen assets in the amount of $300 B. pic.twitter.com/ZwgXEJ358A
— Dagny Taggart (@DagnyTaggart963) December 29, 2023
Aside from the immediate defense requirements, Ukraine is reportedly grappling with significant challenges in maintaining basic state services. This includes the payment of salaries to teachers and civic workers, as well as the upkeep of pensions, all of which have been strained due to the ongoing conflict.
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To Sum It All Up: the Biden administration’s push for legislation to access frozen Russian assets represents a bold and possibly criminal as well as unconventional approach to fund Ukraine’s reconstruction. The proposal reflects the urgency and creativity required to address the financial strain on Ukraine amidst ongoing geopolitical tensions. The potential implications and reactions from both domestic and international stakeholders add an element of complexity to this proposed financial strategy. As it would be open theft and force many nations to sell our securities out of fear… only bad things can happen if this theft occurs. Including Russian retaliation.
Major Points Discussed:
- Biden administration supports legislation to access $300 billion in frozen Russian assets for Ukraine’s reconstruction.
- The plan aims to redirect seized assets, including oligarchs’ superyachts, immobilized in Western nations, to contribute to Kyiv’s financial recovery.
- Financial Times describes the move as a radical step, signaling a new chapter in the West’s financial strategies against Moscow.
- The proposal faces controversy, with concerns over its legal permissibility and potential global repercussions on funds held in the U.S.
- Urgency arises from war fatigue and decreased funding for Kyiv, prompting Washington and G7 partners to explore creative financial measures to address Ukraine’s pressing needs.
Comments – Threads – Links
- President Joe Biden’s administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for reconstruction of Ukraine, a shift as the White House seeks to rally support in Congress to further fund the war against Vladimir Putin’s forces. The administration welcomes “in principle” a bill that would allow it to confiscate the funds, according to a November memo from the National Security Council to the Senate Foreign Relations Committee. “The bill would provide the authority needed for the Executive branch to seize Russian sovereign assets for the benefit of Ukraine,” the NSC said in the memo, one of three such communications seen by Bloomberg News. – FX Hedge
- This is not what Ukraine needs now. Seize all of it to get the so much needed military supplies for Ukraine ASAP – AmaximApps
- Anyone familiar with international law knows this is not going to happen. But, it makes for great Clickbait. –James Gonzalez
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Completely illegal with zero basis and definitely going to hasten the end of the dollar system. – robdodson
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Every international legal expert including our own Nobel prize winner, Robert Schiller, has stated that not only is this illegal, but it would severely damage the US dollar in international finance. Most of these assets are in the EU ($200 B) If the EU undertakes this then Russia will seize all EU assets in Russia ( and there are many). And every country worldwide will be shaken to their core about holding any assets in the US. – Nick Maier
- Gee, I wonder how much of THAT money will end up in Biden’s and other politicians’ pockets??? – Widgetreine
- Another view: Online.ua shares an important article by Dr Jason McCue, the Senior Partner of McCue Jury & Partners LLP, Chairman of the international Payback4Ukraine campaign. In his new article for the Solicitors Journal, he explains the need for legal justification for the confiscation of Russian assets and ways to speed up the payment of reparations to Ukrainians.
- The Biden administration reportedly supports legislation that would allow it to seize up to $300 billion in frozen Russian assets and use it to help rebuild Ukraine. A memo from the National Security Council to the Senate Foreign Relations committee said the administration welcomes “in principle” a bill that would allow it to confiscate the funds, Bloomberg reported Wednesday. – Newsmax
Is it possible to confiscate frozen Russian assets?The vast majority of people support the notion of sanctioned Russian assets being confiscated for Ukrainians. The political will is there. The moral justification is overwhelming. And now the timing is critical as allied financial support for Ukraine is waning. See News.online
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