Posted on 03/11/2022 1:11:14 PM PST by marcusmaximus
With Russia's economy collapsing, its stock market cryogenically frozen and its bonds near default, global investors are set to endure major losses.
-snip-
BlackRock, the world's largest asset manager, has lost roughly $17 billion on Russian securities as a result of the invasion, the FT reported on Friday.
Bond-trading giant Pimco could lose up to $2.6 billion if Russia fails to make its sovereign debt payments, after the asset manager bet big against a default, the FT reports.
Italy's second largest bank, Unicredit, said it could lose $8 billion if it has to fully write off — that is, value as worthless — its Russia business.
French banking giant BNP Paribas said it has a combined $3 billion in exposure to Russia and Ukraine.
Germany's Deutsche Bank is exposed to about $3 billion.
Credit Suisse acknowledged $1.7 billion in exposure. Yes, but: More losses are almost sure to come.
French bank Societe Generale has said that at the end of 2021, it had roughly €18 billion (nearly $20 billion) worth of exposure.
Last week, Citibank said it had a nearly $10 billion total exposure to Russia.
(Excerpt) Read more at axios.com ...
Big Joey gonna write a check for ya’ll, to make it all better.
The Vig is only 10 for the Big Guy
Black Rock set to lose $17 BILION ... Cut to snippet of Ted Knight’s laughter.
BlackRock, the world’s largest asset manager, has lost roughly $17 billion on Russian securities....
Maybe now they won’t be able to build and rent multi family housing next to single family homes.
The Russkies will happily let the western corps abandon their physical assets and bank accounts in-country. They’ll just take ownership.
When starvation comes, and it will, the EU and most of the world will beg for russian wheat and oil. The russkies will sell it, at a premium, and use the $ to refurbish all of those ‘investments’ forfeited by the west.
What’s to stop the russians from declaring those 850 McDonalds, at least to the extent they’re owned by foreigners, as state assets? Nothing. What is McD’s gonna do? Boycott? Ditto for Exxon-Shell, BP, etc. They’re already out of SWIFT, western markets, etc. Nothing left to threaten them with.
Just making predictions based upon observed facts.
And the holders of those securities, Russian state & favored oligarchs, just got a $17billion windfall. That’s the “flip-side” of unilaterally withdrawing from a market. Funny how the MSM never mentions that.
Weird how the west thinks tearing up account receivables ‘hurts’ the debtor.
What a great modern example of “cutting off your nose to spite your face.”
Russia doesn’t need banks if it has natural resources the world desperately needs.
The West is arranged in a circular firing squad.
It won’t be Russia running out of oil, critical metals and food grains.
We saw it when the mouthbreathing Canadian idjits Justine Castreau and his galpal Chrystia "Slaveland" thought they were being oh-so-clever by freezing bank accounts of The Evil Canadian truckers.
That ended up causing a bank run on all the Canadian banks.
They had to walk it back on the QT - but the damage is done for YEARS.
Now, the Schwabites are doing the very same oh-so-clever thing on Russia - but what if Putin planned for this [and there are indications that his life experiences may have made him familiar with planning in this area of cut-off supply]?
As you said, the physical assets are abandoned.
With the ruthless cancelling of everything Russian, the Russians can tell the West to jam its "debt service" up its Obama.
Next, pillage the patents.
Russia is cancelled, remember? They're literal outlaws - outside The Law.
Only you can't kill them, because they have nukes.
If they make it through this rough sledding [they did once before when the Soviet Union was dissolved, and the Western grifters swept in to pillage their natural resources], then they're home free, debt free and Schwab-Soros free.
They're also out of the grip of the TechnoDicktaters.
What's not to like, if you're a Russian nationalist?
The Western kiddie-diddlers can go urinate up a rope.
“Big Joey gonna write a check for ya’ll, to make it all better.”
*****
They will end up making money on it, US Gov will give them money for years of losses, risk free.
They might want to demand the payment in gold or land, though.
I was wondering when someone was gonna start adding up the losses from this economic virtual signaling. Convinces me more and more than there is more to this.
Joe and company just cut off their noses to spite themselves. Doubled down after
botching the fall negotiations with Russia.
Biden is close to causing a global depression. Impeach him....
What’s weird is how Putin is crying like a little girl over the sanctions that you say are such a wonderful gift and windfall. You need to email him, set him straight.
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