How Is Confiscating $300bn of Russia’s Reserves Different From Bombing It and Causing $300bn in Damage?

Empire has stolen years' worth of oil proceeds from Russia to block post-war reconstruction

Russia can’t access its euros and dollars which it stupidly held in banks of its enemies and which together make up about one-half of its $630 billion reserves.

So let’s get this straight. For many years Russia imposed austerity on its people, using oil proceeds that could have funded its hospitals, schools, and pensions to instead raise its balances in accounts in foreign banks.

Now that it would really like to start making withdrawals from those balances, its enemies say: Sorry, can’t do that.

For all that oil it sent out Russa has exactly nothing to show for. It is as if for many years Russia had been giving its oil away for free.

$300 billion, that is enough to fund the Russian military for 5 years. The US equivalent to that would be over $3 trillion.

What would the US do if somebody had “frozen” $3 trillion of its monies?

The Empire says the funds are frozen to prevent Russia from stabilizing its currency during the war. But when the war ends the freeze will stay on and the justification will change.

The real reason the freeze will be maintained will be to prevent Moscow from carrying out reconstruction in Ukraine. $300 billion buys a lot of friends and a lot of loyalty.

One only needs to look at Chechens who, having been lavished with cash and reconstruction (70% of their budget still comes from federal subsidies), now serve as Russia’s unlikely urban-warfare shock troops. (Many of them ex-rebels, including Kadyrov himself.)

And it’s only a matter of time until the funds are unfrozen to set aside for paying out bounties on Russians in Ukraine, funneling arms, and scheming regime change in Moscow.

Words can not convey just how stupid it was of Kremlin to allow this to happen. Did Kremlin after all these years and all the signs still not truly fully understand just how despised and disrespected Russia was in the West?

I thought that going into Ukraine meant that Moscow had resigned itself to — and prepared for — a total break with the West, but guess not.

I don’t want to hear anyone using Putin and judo in the same sentence ever again. Miss me with that 5D stuff.

Russia has so far been fairly quiet about this theft. Possibly because it doesn’t want to be seen as panicking which could hurt the ruble further. And because it has enough on its plate right now with the war.

Once the war is wrapped up I have no idea how Russia gets its money back.

An oil embargo would seem to be appropriate. But that would hurt the entire world, Africa and China included.

(If Russia kept selling to China it wouldn’t work, it would merely reshuffle the deck in terms of who was sourcing from where.)

When the “freeze” was announced Putin responded by elevating Russia’s nuclear posture.

When the war is wrapped up will the nuclear threat become a little more explicit and directed? Say against “neutral” Austria and non-nuclear Germany which hold a chunk of Russia’s euros?

Two hours to release the funds before a city to be determined by lottery is turned into nuclear ash?

Or perhaps Moscow can come up with something a little more imaginative to get its stash back? (Albeit it had failed to imagine the funds would be taken so there’s that.)

To steal land from each other, that’s what countries and states do and always have. (Ask Belgrade if it has had any land recently stolen from it.) But to be stealing money like that? There’s something so underhanded about that.

I don’t know how Russia reacts to this once its hands are freed, but if it doesn’t cause a major incident over this once the war is out of the way, then it’s not a great power, but just a big Venezuela.

 

 


Russia’s yearly gross export earnings from crude oil, refined oil, and natural gas are $215 billion, but not all of that is profit.

31 Comments
  1. Eric says

    Good insight. I have a real hard time understanding also why Russia left so much of its money with the globohomo western banks. That’s 1D checkers.

    1. guest says

      If you don’t read real history, it could cost you 300 billion.

      >>>”Empire has stolen years’ worth of oil proceeds”
      One Empire stole from another Empire. The price you pay for the sea-ports of Odessa and Mariupol, and the coal and iron of Donetsk.

      Perhaps, Empire 1 will use a fraction of that money to pay for the 2 million refugees caused by Empire 2. Not long ago Merkel evicted Ukranians from Germany, now they are all back, and then some.

      >>> “For many years Russia imposed austerity”
      So, Vladimir has been accumulating a war-chest for years, waiting for the excuse and opportunity. Biden gave him the excuse and opportunity, but took his war-chest —no wonder Vladimir is now raving mad.

  2. Ilya G Poimandres says

    Well for one this would outright cause the dollar system to accelerate downwards.

    For two Europeans own Russian debt and securities, so there is that.

    Also a dollar fall will do a thin or two to gold, and given how suppressed the price is by the London Metal Exchange, Russia may just recoup the losses from gold price increases (speaking as a gold bug)..

    I guess Russia thought that the West wouldn’t cut off its head to spite its nose. I think Baldrick would run these nations better!

    1. Chacko Kurian says

      The west doesn’t seem to mind cutting off its citizens noses. Their elite would be unscathed. What are the masses to them anyway except cattle that can be sacrificed when needed.

  3. Richard Lightbown says

    Around 150 bn dollars worth of Libyan assets that were frozen by the UN NEVER reappeared. Some is believed to have been used to finance the war in Syria.
    Britain recently refused to hand over Venezuela’s gold to its rightful owners, instead insisting that it belonged to Guaido.
    There was also a story some years ago that the US refused to return some of Germany’s gold when asked to.
    So Putin is not the only one to have been suckered by Western banking systems. Seems like it pays to keep your own dosh at home under the mattress.

  4. Nerdivo says

    This had nothing to do with cleverness. You have to understand how foreign reserves work, you just keep them in the banks of the currency’s country. You never keep them locally as you wouldn’t be able to pay with them (no one transports millions of dollars to pay).

    Check nosto, vostro and loro accounts for more details

    1. JohnBrown says

      No you are dumb.

      No need to hold foreign reserves of countries except those you trust like China as Russia has a huge trade surplus.

      Russia should only accept payment for oil and gas, metals etc,. all exports to those who sanction Russia in Rubles or gold creating a huge demand for Rubles as they have to buy Rubles with Euros etc the value of the Ruble goes up and those traitors at the central bank will lower interest rates to below 2% as those traitors at the central bank with a 20% interest rate are the ones doing the real damage to the Russian economy much more then any sanctions on the advice of traitors.

  5. SteveK9 says

    Russia, and in particular her Central Bank Manager, Nabiulina have no one to blame but themselves. She and their economists have bought into Western Bullshit, and unfortunately this is one area, where Putin seems to lack any real knowledge.

    1. JohnBrown says

      Words can not convey just how stupid it was of Kremlin to allow this to happen.
      Its not stupidity its treason as Russia has some traitors in its central bank and in particular her Central Bank Manager, Nabiulina is a traitor. Put her and her collaborators on trail for treason and lock them up for life.
      Also why is Russia still selling gas and oil to the EU in Euros the EU can sanction? More treason!
      Russia has a huge trade surplus.
      Russia should only accept payment for oil and gas, metals etc,. all exports to those who sanction Russia in Rubles or gold creating a huge demand for Rubles as they have to buy Rubles with Euros etc the value of the Ruble goes up and those traitors at the central bank will lower interest rates to below 2% as those traitors at the central bank with a 20% interest rate are the ones doing the real damage to the Russian economy much more then any sanctions on the advice of traitors.

      1. SteveK9 says

        Made the same comment in other places. But, the high interest rate policy and accumulating foreign reserves, and balancing the budget … are things that Nabiulina would brag about, and they are all stupid.

        1. Abraham Lincoln says

           Nabiulina is a traitor. High interest rates are meant to damage the Russian economy.

          Russia should not have had any of its reserves in currencies of enemies that enemies can sanction them. Those moneys have been stolen. Sell gas oil etc in Rubles or gold only.
          The Russian central banks is full of traitors. The high interest rates are not necessary and they will do far more damage to the Russian economy than any sanctions.
          Read Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003.
          and watch these videos
          Max Blumenthal and Ben Norton speak with economist Michael Hudson about his book “Super Imperialism: The Economic Strategy of American Empire.” 5 May 2021
           
          https://www.youtube.com/watch?v=Uiz934HVZjY
           
          Michael Hudson – Changes in Superimperialism January 2021
           
          https://www.youtube.com/watch?v=PtHX23Trvy4
          If you want to understand what is happening you can watch these 2 videos with Michael Hudson along with “The Secret of Oz” and “Money as Debt”.
           
          Michael Hudson taught at the Pentagon about this, for over 10 years about this.
           
          He also has a book he wrote Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003. You need to read it.
          Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003.
           
          These sanctions are not against Russia. They are against the peoples of the EU, Europe, especially Germany, then Japan, South Korea, the USSA and Canada etc. to maintain the empire, but they will destroy the empire.

      2. SteveK9 says

        This was posted on another website, and now I cannot even remember the persons call name, or I would try to give him credit. I know these things as well, but have been too lazy to write it all up. This says it all I think:

        Sanctions on Russia.

        Nothing is more depressing to somebody who understands Modern Monetary Theory than watching supposedly intelligent people make catastrophic decisions based entirely upon a misunderstanding of how banks work and international trade is conducted.

        1. Russia doesn’t need the West’s money

        Russia has its own currency – the ruble. That means when Russia needs to buy a tank Putin orders the Russian Central Bank to debit the Russian Treasury account at the central bank and transfer that to the supplier of the tank. That’s all he needs to do – forever and for as much as he wants to do that.

        That causes an overdraft at the central bank which is an asset of the central bank, and that balances the new reserve liability created for the commercial bank of the tank supplier.

        That reserve liability at the central bank is an asset of the commercial bank, who then credits a new bank deposit for the tank supplier. The balance sheets of the central bank, and the commercial bank expand.

        The tank supplier will accept rubles for its tanks because it needs to pay its workers in rubles. The reason for that is because Russia imposes taxes in rubles on both the tank supplier and the workers, which if not paid earns them a spell in a Russian Prison.

        That’s all the ‘confidence’ Russia needs to impose on its people for them to accept rubles – a confident assertion, backed by force, that they will be jailed if they don’t pony up the relevant amount of rubles when they are demanded.

        Those taxes are collected. Bank deposits are debited, and bank reserves transferred to the Treasury, which eliminates the overdraft asset and the balancing reserves at the central bank. The central bank balance sheet shrinks back down along with the commercial bank.

        There is no need for interest payments. No need for ‘borrowing’. There is nobody who can say no. It all just happens and is perfectly self-sustaining throughout the entire area where Russia can impose its taxes.

        By this mechanism, Russia has command over all the physical real resources available within its border and can transfer them to the service of the state as required.

        2. Russia is a sovereign state

        Should the tank supplier decide not to take rubles, then the tank supplier will be commandeered by the state, and the leaders deposed – replaced by somebody who will take rubles.

        Should somebody at the Russian central bank decide not to honour Putin’s payment order, they will be replaced by somebody who will.

        Nobody can stop Russia doing any of these things, because Putin has the authority of the state to get things done, and controls the enforcement mechanisms that allow him to get his own way. Legal decisions will go Putin’s way. The central bank will be ordered by the courts to make payments, and the courts will sanction the commandeering of the tank supplier. Why? Because the legislature would have passed the legislation permitting those actions.

        The only reason you can’t make an order to pay whoever you want for as much as you want is because the courts will side with the bank, not you. For the government the opposite is the case – if the legislature agrees. There is no other control mechanism, because banks can expand their balance sheet on demand.

        What’s important to note is that this doesn’t just apply to Russia. It applies to all sovereign states the world over. Currencies are an expression of state power, a simple monopoly, and monopoly rules apply.

        3. The exchange rate.

        In the ‘seen to be doing something stakes’, nothing tops the utter nonsense spoken about central bank ‘international reserves’ and the SWIFT transaction system.

        Let me explain what ‘international reserves’ do. If you’ve been abroad to lots of places you’ll end up with a drawer full of foreign small change. In my drawer I’ve some Korean Won, Japanese Yen, Polish Zloty, Bermuda cents and Gibraltar pennies alongside the usual US and Euro cents. That’s where they sit – unused except to entertain small children with funny looking coins – because they are useless were I live in the United Kingdom. Yet technically they form part of my assets.

        “International reserves” are really a drawer full of loose foreign change. They are of no real use in a country and can be completely ignored or written off to no operational effect. They end up on the balance sheet of a central bank because export entities within a nation want the currency of the nation to undertake local transactions – like paying their local workers. So they swap their foreign earnings for local currency.

        Since that creates an FX risk for commercial operations, an excess of foreign currency in export surplus nations tends to bubble up until it ends up under the control of some state entity – often the central bank. There it sits – because not spending it tends to hold down the currency exchange rate which favours exports.

        Since the only strategic reason to export is to obtain imports, why should Russia continue to export anything if it is getting nothing material in return?

        If that means layoffs in Russian export industries, then there is now plenty of work supplying armaments and equipment to the war machine, as well as substitute industries to replace imports – which will gain greater momentum thanks to elimination of foreign competition. People in Russia are not going to be unemployed.

        What about those in the West currently supplying exports to Russia? Where is the untapped source of demand in the world that will take those goods and services they can now no longer supply? There isn’t one, and to believe in it is to believe in a fallacy of composition. Instead those businesses will shrink, laying off people. We don’t have a national goal that will employ people instead.

        As to replacing Russian Gas and Oil, are the West sure we have enough spare pump capacity, and enough LNG ships to move that across the globe? What will happen to power prices in the meantime?

        The whole idea of ‘creating inflation’ in Russia is far more likely to create inflation in the West. Russia has everything it needs within its borders, and eliminating foreign competition will simply accelerate the internal production of things it wants. All powered by its own banks, lending in its own currency, which they can do with impunity.

        SWIFT is a fancy WhatsApp group for banks that allows banks to message each other when they want to move money from one account to another. What happens when you are booted out of a WhatsApp group? You create another one and talk via that. Or you use Signal, or Matrix or perhaps even have a phone call.

        If nobody is selling anything to Russians, then why would Russians need to settle in anything other than rubles – which SWIFT cannot affect?

        Trying to drive the ruble down just makes Russian exports even more of a bargain and incentivises ways of getting around the blockage. Since a decent team of developers could knock out a SWIFT replacement for the major transaction types in about a fortnight using RabbitMQ and an adequate supply of the finest Russian beer I doubt the Russians are going to be overly bothered by the inconvenience.

        After all, the external value of your currency is of little concern if you’re not sourcing required items outside your borders. Russia is not Turkey, nor is it Iran. It is an industrial power house with a vast land area full of natural resources and an energetic people that prefers to train engineers and scientists over advertising executives, and that happens to have the fourth largest armed force on the planet.

        Russians may want the stuff the West can supply, but they don’t need it. Where does West’s demand for Gas and Wheat sit on that divide?

        There is a persistent notion in the West that Russia is nothing more than a commodity producer and entirely dependent upon imports. I suspect that notion is about to be disabused.

        This mistake is failing to separate needs and wants, and failing to recognise that necessity is the mother of invention.

        Ukraine exports most of the world’s neon gas, which is required in computer chip manufacture. How is the West going to replace that, now it can’t pay for it?

        4. $ are useful but not necessary

        One of the greatest repeated lies in international trade is the idea that the US dollar is king and is necessary. It’s a complete fabrication.

        Just because some item is usually priced in US dollars does not mean that the contract to supply that item has to be denominated in US dollars. Even if it is, there is no requirement that it is settled end to end in US dollars.

        US dollars are used in international trade because they are convenient. In reality in every international trade the seller gets the currency they want and the buyer pays with the currency they have. The international finance system makes a tidy living matching those two desires to create demand.

        (What’s interesting in the analysis of currency area boundaries and financial exchange is not the border of a country, but the point at which an exchange entity has a foot in at least two currency areas. It’s by selecting the actual operational boundary that a Modern Monetary Theory analysis of international trade throws up new insights into the process).

        To use an Internet analogy, the US dollar is the network layer, not the application layer. It is a financial IP packet that everybody has converged upon to allow the thing it encapsulates – the actual end to end transaction of real goods and services priced in other currencies – to occur.

        If we started charging tolls for IP packets, somebody would come up with a parallel structure or use a different network layer encapsulation. It is the same with money. Once dollars stop being cheap and convenient other methods of exchange will take over. It’s the end to end exchange that matters, not how it gets there.

        The Wool and Corn Exchanges of the world believed they would last forever. Now, if they survive at all, they are flats, and shops and restaurants. Trade bypassed them when they stopped being convenient and useful.

        5. The saving Grace.

        Sanctions are based upon a belief about Russia and a belief about money: that Russia is utterly dependent upon imports to survive, that rubles need ‘confidence’ and ‘interest payments’ to be accepted, that freezing ‘international reserves’ will cause bank runs, that inflation will run rampant.

        In reality, Russia is self-sufficient in what it needs, rubles are accepted because there are tax payments to pay, interest is utterly irrelevant and can be zero to eliminate inadvertent demand injection, and freezing ‘international reserves’ will just result in dollar and euro denominated deposits in Russian banks being frozen in the same way, if not entirely confiscated under emergency tax legislation.

        Putin’s Russia can easily counter sanctions. It can put taxes up – payable in rubles to ensure demand matches supply. It can freeze savings in foreign currencies at its banks. It can LOWER interest rates to eliminate the Interest/Price spiral. It can demand that its exports are settled in rubles or simply stop exporting – since there is no longer anything on the other side worth importing. It can redeploy workers from the export industry to the production of substitute products and services. It can physically ration goods and services amongst the population.

        Putin is a conservative statist. The problem will be if that the ‘sound finance’ ideological nonsense is solidly in his mind and that he will make the same mistakes with money as Erdogan and other leaders have.

        If he has read “How to pay for the war” by Keynes and truly understood it, and particularly if he has gained insights into the power he has with the ruble that flows from understanding Modern Monetary Theory, then it will be the West blinking wondering what happened, not Russia.

        Like all alchemy, financial alchemy works like the hypnotism of the stage magician – an illusion that only captures those with weak gullible minds.

        He has already hiked interest rates which was a HUGE mistake. An Orwellian “Sound finance ” trap. Which does not bode well for future actions.

        Finally.

        People who hold their savings in foreign currency are not patriots and likely oppose Putin. The west has just ‘taxed’ those people.

        If you believe that ‘taxing the rich’ reduces their power, then taxing away the savings of those opposing Putin has just reduced their power to oppose him.

        I’m looking forward to seeing those championing this approach squaring that circle.

        1. Abraham Lincoln says

          Hello,

          You don’t get it. Russia should not have had any of its reserves in currencies of enemies that enemies can sanction them. Those moneys have been stolen. Sell gas oil etc in Rubles or gold only.

          The Russian central banks is full of traitors. The high interest rates are not necessary and they will do far more damage to the Russian economy than any sanctions.

          Read Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003.

          and watch these videos
          Max Blumenthal and Ben Norton speak with economist Michael Hudson about his book “Super Imperialism: The Economic Strategy of American Empire.” 5 May 2021
           
          https://www.youtube.com/watch?v=Uiz934HVZjY
           
          Michael Hudson – Changes in Superimperialism January 2021
           
          https://www.youtube.com/watch?v=PtHX23Trvy4

          If you want to understand what is happening you can watch these 2 videos with Michael Hudson along with “The Secret of Oz” and “Money as Debt”.
           
          Michael Hudson taught at the Pentagon about this, for over 10 years about this.
           
          He also has a book he wrote Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003. You need to read it.

          Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance Paperback – Jan. 20 2003.
           
          These sanctions are not against Russia. They are against the peoples of the EU, Europe, especially Germany, then Japan, South Korea, the USSA and Canada etc. to maintain the empire, but they will destroy the empire.
           
          Russia will face some disruption until they finish their new pipelines to China and India to completely replace the EU as an oil and gas customer. This should be done in about 18 months.
           
          The EU economy which was already broke, like the USSA will totally collapse along with much of the global south then the USSA. The dollar as a reserve currency is finished to be replaced by digital currencies for large transactions between countries and large companies.  
           

  6. P.S. says

    The West will give that money to relatives of 9/11 victims.

    1. gig says

      holocaust survivors

  7. ken says

    The reserves is used to pay for products or services in the holding nation. The businesses needing payed will be the victims. The seizure could also cause many businesses to fail and/or people to become unemployed especially if the holding nations distribute the money in a haphazard way,,, such as giving it to Sept 11 victims where Russia had nothing to to with the destruction and the holding nation is making these people extortionists. The banking system will pay severely for these actions in loss of trust.

    1. JohnBrown says

      Words can not convey just how stupid it was of Kremlin to allow this to happen.
      Its not stupidity its treason as Russia has some traitors in its central bank. Put them on trail for treason and lock them up for life.
      Also why is Russia still selling gas and oil to the EU in Euros the EU can sanction? More treason!
      Russia has a huge trade surplus.
      Russia should only accept payment for oil and gas, metals etc,. all exports to those who sanction Russia in Rubles or gold creating a huge demand for Rubles as they have to buy Rubles with Euros etc the value of the Ruble goes up and those traitors at the central bank will lower interest rates to below 2% as those traitors at the central bank with a 20% interest rate are the ones doing the real damage to the Russian economy much more then any sanctions on the advice of traitors.

  8. Pablo says

    It appears to me the question is, “What tangible, credible options does Russia have to get its $300 billion back from the West? Threatening Israel with destruction would get its lackey, the USA’s attention. How far is Russia willing to push the West to get its money back? Maybe this money issue and the goings on in Ukraine are interconnected?

    1. JohnBrown says

      “What tangible, credible options does Russia have to get its $300 billion back from the West?

      Plenty

      Russia must stop honoring patents, trade marks and brand names etc. of those who sanction Russia and use them for import substitution. Have Russian companies make identical knockoffs of German cars etc,USSA, French, Japanese, British products etc., and use the identical brand names etc., for Russians and also for export all over the world.

      Also time to sieze all the assets in Russia of those who are stealing from Russia.

      Start selling the best weapons to Iran, North Korea etc,

      If Russia does these things they will come out on top.

  9. Victor says

    To any country that does not return Russia’s assets, turn off the energy supply until they do – gas, oil, uranium.

  10. JohnBrown says

    Words can not convey just how stupid it was of Kremlin to allow this to happen.

    Its not stupidity its treason as Russia has some traitors in its central bank. Put them on trail for treason and lock them up for life.

    Also why is Russia still selling gas and oil to the EU in Euros the EU can sanction? More treason!

    Russia has a huge trade surplus.

    Russia should only accept payment for oil and gas, metals etc,. all exports to those who sanction Russia in Rubles or gold creating a huge demand for Rubles as they have to buy Rubles with Euros etc the value of the Ruble goes up and those traitors at the central bank will lower interest rates to below 2% as those traitors at the central bank with a 20% interest rate are the ones doing the real damage to the Russian economy much more then any sanctions on the advice of traitors.

    Russia must stop honoring patents, trade marks and brand names etc. of those who sanction Russia and use them for import substitution. Have Russian companies make identical knockoffs of German cars etc,USSA, French, Japanese, British products etc., and use the identical brand names etc., for Russians and also for export all over the world.

    Also time to sieze all the assets in Russia of those who are stealing from Russia. If Russia does these things they will come out on top.

    Start selling the best weapons to Iran, North Korea etc,

  11. anon says

    presumably this is what happens when you don’t have any control over the criminals that run your central banks…

    these same miscreants have been robbing europe and yankee land blind for decades..

    you see this is what happens when you allow criminal cartels to run your country and they just looove WAR because they can just steal everything… fake economics running cover stories..

    where do you really think all this stolen money goes to… hint: it gets ‘washed’ by ‘banks’ and then back on the ‘stock’ exchange (global casino for laundered federal reserve notes)…

    or at least it did, but with that racket well and truly fucked they just go straight to the paying themselves dividends bit..

    and nowadays they steal your yachts your property… and no doubt your mistresses and pets as well…

    war…. the bankers harvest..

    1. Abraham Lincoln says

      Its not a question of control for Russia. I think Putin is just that stupid to not understand the money system how it works and how the USSA dollar is used to maintain the empire.

      Putin has apparently not read Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominanc Paperback – Jan. 20 2003 by Michael Hudson  (Author)

      The Chinese have read it.

      1. anon says

        No No good try… but I don’t think so, in fact I would go as far as saying Putin is acutely aware of how the money system ‘works’ having used it to enrich himself and his ‘friends’ beyond avarice…

        you see.. what ever capital is hanging around in ‘your’ ‘country’ is just criminal banker slush funds… to be used as required…and then off-shored..

        that’s why all your pension funds are empty and all your countries in reality bankrupt..

        hudson though seemingly reasonable and sentient, is a gatekeeper.. the gnome chumpsky of ‘economics’…

        a friend of mine an economist tried to defend his fiscal quackery over a game of chess one evening.. cornered and cowed by my superior attack, he responded to my observation that his so called profession was a pseudo science..

        with the rather glibb…”No it’s a ‘social science’…

        “ah!” .. I responded…” like inter-sectional lesbian knitting”….

        says it all really..

  12. nnn says

    Too many traitors

  13. Tom says

    I’M RUTIN FOR PUTIN

  14. Martillo says

    The more the anglozionazi empire of shit defends their useful idiot thugs in Ukropland the more they show their desperation. The Bear is pissed and the last time the Bear was this pissed he marched all the way to Berlin and gobbled every NAZI that got in his way. Instead of insulting the Russian blood and sacrifice being wasted to defang the neocohen khazar abomination aka Ukropland, Europeons should be begging their Russian friends to march all the way to Natostan sinkhole in Brussels, seat of the evil Pedovore Politburo running the globalist oligarch scam called the EUSSR for their masters in Washing town and the Wall St sewer.
     
    Anyone that still imagines that the denazification of the neocohen abomination that Nudelman Nuland spawned with her Maidan slaughter and that Putin is somehow Klaws Slob’s boy (Ze jung gloval lieder…blah blah blah…) still hasn’t figured out the big picture where these Mel Brooks central casting Hollyweird cardboard cutout clowns are cobbled together by banksters, presstitutes and the Red Shield demons behind every political hoe in both Urupp and USSA.
     
    The Natostanners should have listened to Mr. Putin in Munich in 2007; they didn’t and now they and their masters in the Washing town sewer will pay a very very heavy price for their hubris as the IOU fiat filth Saudi Mercan petroscrip dollah and its bastard gimp €urodollah finally implode taking out the sickening EUSSR and indeed Natostan itself and with it their ability to “finance” global terror on everyone else’s dime. What Kissinger should have explained to his Pentacon zombies is that their vaunted petroscrip aka petrodollah is “money” only as long as they and their oily Muslim fiefdoms had the energy monopoly as in global petro control; no petro then no global “reserve” petro dollah That is now in the hands of Mother Russia and “energy” is the new money and it is Russia and China that will dictate the new game with the Basel bean counters and IMF gangster banksters. All is changed and worthless hyper printed fiat filth with nothing but hubris and lost wars to “back” it is no longer enough to bring home the bacon to the dying anglozionazi empire of shit.
     
     
    A Russian explains to any bleeding heart useful idiots that still don’t get the anglozionazi empire of shit’s latest twist on its Ukrop caper now that the covaid$ racket has become apparent even to the most religiously death squirted morons.
     
     
     https://www.youtube.com/watch?v=OisJkpGYpAo&t=117s&ab_channel=%D1%81%D0%A4%D0%B8%D0%BB%D0%B8%D0%BD%D0%BE%D0%BC
     

  15. Danny.white20 says

    Criminal theft
    Criminal racism
    The west has lost all hope
    The west is now in free fall collapse
    The best hope for humanity no sits with Russia and China

  16. Steve kastl says

    No one will trust the Western governments/banks when they now steal at will.

  17. Sangre Azul says

    Yes it was stupid of Russia to hold currency reserves in foreign countries where it can be confiscated but at the same time Russia owes about the same amount of debt to those same countries if not more….So Russia could just refuse to pay the odious debt…either way I expect apocalyptic financial upheaval for the rest of 2022…if not all of 2023.

  18. Steve kastl says

    I wonder if Russia left the money vulnerable in the USA to see exactly how criminal our USA government is? Sacrifice a half trillion dollars but now the whole world is aghast at the outright thievery by my Israeli run USA government. It shows nothing denominated in dollars is safe from USA confiscation/thievery. The Russian oligarchs need to scoot back to Russia ASAP. The next step is to arrest them like the Chinese billionaires daughter in Canada.

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