We Have Your Money. And We’re Giving It To Ukraine.
On Thursday, G7 leaders agreed to a plan that would use investment returns on frozen Russian assets to fund loans to Ukraine.
Here's how it'll work. The US and its allies will extend to Kyiv a $50 billion loan with the money earmarked for the purchase of weapons and infrastructure. The loan will be repaid from interest generated by more than a quarter trillion of frozen Russian assets which, for the most part, are sitting in European banks. The US will underwrite the loan.
While perusing finan
Fuck yeah! Confiscate all his buddies’ money too!
Here’s a thought for Tesla shareholders: Pay Musk the $56B he’s demanding in compensation — in BRICs coin.
H – once again you have nailed it. Shed no tears for Vlad and his ilk. Usually Treasury is holding frozen funds to be turned over to the successor regime (see Iraq) or to be used as bargaining chips for policy changes ( see Iran and Libya). Using earnings on the funds to try to undo a major misdeed is a nice refinement and is to be commended.
Only fools–and worse–try to argue it’s wrong to seize Russia’s assets and distribute them (or interest from them) to Ukraine.
There’s an epidemic of false machismo in the ‘United’ States. Lots of wannabes who live for the chance to be a bully or gang-up on someone. Racists, misogynists, etc. All rooted in fear.
Evan Gershkovich. Not a surprise Russia indicts him as sanctions begin to bite and Russian money is distributed to Ukraine. Would Putin actually allow his execution following a conviction w/o any credible evidence? Yes.
I think Russia has gotten off lightly so far. Reparations should be part of the package when this is over, not just interest on reserves. And Russians should be held accountable as much as possible for the rape torture and destruction in Ukraine. I think something like the Nurenburg trials would be in order, if that becomes possible.
Reparations paid in what currency, Rubles? One of the key mistakes all supporters of dictators make is that their support creates some sort of friendly immunity. Yet, everyone in Russia can be shot or defenestrated on the bosses slightest whim. And in the same vein, no one should ever think that owning a lot of some company’s stock gets them any favors either. Bosses of any kind just don’t grant favors to their subjects.
In gold – I hear Russia has some.
Here’s a story from Kazakhstan for your wannabe macho Putin supporters. Businessman builds a USD 1,1bn fertilizer plant. Kazakh leader wants it. When businessman won’t give it to him, KGB come by plane from Moscow to arrest him for trumped up fraud charges and he is still in a Russian jail awaiting trial. Nice people these Putin KGB friends