Posted on 02/24/2022 12:14:42 PM PST by Browns Ultra Fan
We now know that Russia has invaded Ukraine and President Biden really threw the booklet at Putin in a speech today. Rather than removing Russia from the SWIFT banking system which would have really hurt Russia’s trade with Europe, he gave a surprisingly cogent speech about the US and NATO agreeing to do … not much. He did warn us that energy prices would rise (which he helped do when he took office) and told energy companies not to gauge consumers.
The reaction in Russia? Their stock market tanked over 30% (not because of Biden’s speech, but because of negative costs of war).
Russia’s 10-year sovereign yield rose to 15.23%.
The Russian Ruble crashed and burned.
UK natural gas prices rose 51% today.
And while 17 Euro nations have negative 2 year sovereign yields, Russia has 2-year sovereign yield of 28.65% which is nothing compared to Ukraine’s 75% 2-year yield (in US Dollars).
The SWIFT system, or Society for Worldwide Interbank Financial Telecommunication, facilitates financial transactions and money transfers for banks located around the world. The system is overseen by the National Bank of Belgium and enables transactions between more than 11,000 financial institutions in more than 200 countries around the world. Removing Russia from the SWIFT system would really hurt Russian trade with Europe. I assume that Europe is scared of soaring energy costs, so probably doesn’t want Russia removed from SWIFT.
(Excerpt) Read more at confoundedinterest.net ...
Am I wrong to think this is a grift by Biden and Putin together?
Reverting back to Trump’s energy policies would put the hurt on Putin immediately.
Maybe..
The Russian stock market had actually already dropped 50%. Biden's speech helped revive it somewhat.
Regards,
“Maybe..”
Weird, huh?
S&P 500 is also 0.54% to the green on the day, and the DOW has erased most of the days' losses but is still down about 0.58%.
(all as of this writing.)
US imports 26 million barrels of russian oil every month.
Bish*t forgot to mention that.
US paid russia $700 million oil bill on Tuesday, the day before the invasion.
Bish*t forgot to mention that.
Bish*t removed the NS [before he removed NS2 sanctions] sanctions imposed by PDJT on his first day in office, earning russia $1billion from our NATO allies per day since 1/20/21.
Bish*t forgot to mention that.
On and on and on.
Current caterwauling is all kabuki theater. Nothing will be done because it will affect the elite’s $$$.
$1billion PER DAY!!
UK nat gas up 51%. Wow.
“Am I wrong to think this is a grift by Biden and Putin together?”
As much as it would please me to think of Putin and Biden in bed together (figuratively) the fact is that Biden’s past (and maybe present) bribe money is coming from Ukraine and a Russian invasion cuts off this source of funds for The Big Guy.
Now...pure speculation on my part here...if anyone was going to reveal the depth of Biden’s corruption in Ukraine it would be Putin.
Further speculation: Putin is blackmailing Biden to limit the sanctions to posturing instead of calling for the total trade embargo that’s warranted here.
The way the idiot grinned from ear to ear during press questions made me wonder.
You are definitely not wrong to strongly consider it.
Putin has the EU by the balls and tits.
51% price increase on Natural Gas.
Bought a little SBRCY today.
It was trading at 0.2x book and a P/E of 1 for a should while.
It’s a very well-run bank, and won’t be hit as hard by sanctions as the market seems to be anticipating.
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