Posted on 02/26/2022 5:14:03 PM PST by upchuck
NOTE: See video embedded in article.
As Western allies levy increasingly harsher economic sanctions against Russia for its invasion of Ukraine, the latest target involves Russia's access to SWIFT.
An acronym for Society for Worldwide Interbank Financial Telecommunication, SWIFT is a messaging system founded in 1973 that allows large financial institutions to send money to each other.
The Belgian-based cooperative is used by more than 11,000 banks and financial institutions in more than 200 countries and territories, including Russia. It handles 42 million messages a day, facilitating trillions of dollars worth of transactions. Russia accounted for 1.5% of SWIFT transactions in 2020, according to the Financial Times.
The White House announced Saturday evening that the U.S. will be disconnecting some Russian banks from SWIFT in partnership with the European Commission, France, Germany, Italy, the United Kingdom and Canada and are "imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions."
"This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally," the White House said in a statement.
(Excerpt) Read more at abcnews.go.com ...
Biden is still BUYING oil from the Russians while blocking us from drilling oil and gas!
Blinken: We’re Not Halting Gas and Oil Purchases from Russia Because We’re Trying to Minimize ‘Pain to Us’
https://www.breitbart.com/clips/2022/02/24/blinken-were-not-halting-gas-and-oil-purchases-from-russia-because-were-trying-to-minimize-pain-to-us/
In another time he would say....
Blinken: We’re Not Halting Gas and Oil Purchases from the Nazi’s ....
Satirizing merchandise is one thing, seizing assets is another.
Which Lithuanian assets were seized? Although I agree that my wording was probably not entirely correct, you get the idea.
Will this keep Russia from getting paid for their oil exports?
My point is simply that the business environment in Russia and China is not apolitical.
I had almost forgotten about Telex machines. Once a month or so ours would clank into life to get financial data from the overseas offices.
“The should call the plan to cut Russia out of the SWIFT system the “Death of the USD.””
You’re joking, right? You think locking out a puny economy like Russia’s out of the world’s financial system is going to be the end of the dollar?
What are you smoking?
Tell me then their banks are going to take assets from foreign businesses because they don’t like their government.
What China does with most of the dollars we send over is to give them back to us in return for treasuries. They are the largest holders of our national debt.
They fund most of our national debt.
So most of the money you spend buying Chinese goods ends up funding our national debt.
And, in turn a lot of that national debt goes to pay for all the welfare programs, which go to buy Chinese goods.
Quite a circle.
It's not the size of the economy that is getting kicked out, it is the action of SWIFT deciding to boot out a powerful country which will make 80% of the other countries in the world think twice about relying on SWIFT. What rational nation is going to risk being cut off and impoverished overnight by a banking cartel and not hedge their bets with alternative system and currencies? NONE.
Leftist Trudeau though he was a genius by seizing the bank accounts of protesters but then the bank run on Canada changed his mind very quickly. Fewer than 200 accounts were frozen and depositors panicked.
You think locking out a puny economy like Russia’s out of the world’s financial system is going to be the end of the dollar?
*********************************************
Yes, and it looks like our government is backtracking now, because they think so too.
“The U.S. is hesitant to block Russia from SWIFT, in part because doing so could push the global economy away from the U.S. dollar.”
https://www.protocol.com/policy/russia-swift-sanctions-ukraine
“Which Lithuanian assets were seized?”
Moving the goalpost.
“Although I agree that my wording was probably not entirely correct, you get the idea.”
I guess I should have just understood what you meant, and responded to that - not what you actually said.
Who ever knew Norse Viking was translated 五毛
Very funny! That’s finally a super argument.
It happens. For a detailed case study, read about American Ben Browder’s experience with his investment fund getting robbed by the Putin government in Russia. His tax lawyer, Sergei Magnitsky, was even grabbed and jailed on false charges for eleven months, then dying while in police custody. Back home in the US, Browder went public and was mysteriously smeared by Fusion GPS, which had apparently been hired by the Russian government in some capacity.
What makes Browder’s case a targeted political persecution? However, if you’d researched the personality you’d probably think that Madoff was the victim too. BTW, Magnitsky was Browder’s hired front man who signed everything to take blame and a bitter alcoholic who died to a liver failure.
Utter falsehood. In essence, Magnitsky died because he was beaten by Russian authorities while in custody and was then denied proper medical care. Browder was robbed because the authorities wanted to take his and his client’s investments. Being an American, Browder was and easy target due to the Putin regime’s hostility toward Americans.
But.....But....HOW is Hunter and the Biden Crime Family going to get their Russian money now???
LOL. Yep, if you believe it, but everybody with the brain realizes how preposterous the premise is.
All the go!d in The USA is in a bank in middle of Peking under XI’s name.😜
Oh well, with the US Congress and numerous independent investigative journalists verifying the facts, I have a lot of company. Funny how the Putin regime has such a reputation for corruption and thuggery. I wonder if they might do something crazy, like invading a peaceful neighbor.
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