Now is the perfect time for Biden to transfer Russia’s frozen assets to Ukraine

The Hill ^ | 10/12/2023 | NORM ORNSTEIN & DENNIS AFTERGUT

[ChicagoConservative27]

Norm and Dennis are idiots

[CatOwner]

If the intent is starting a world war, go for it.

[blackdog]

For 10% he will transfer them to the mental ward at the Hammas Hospital for the Mentally Derranged.

[Owen]

My recall is the assets reside in Europe. And European assets in Russia exceed the total in question.

[Honorary Serb]

....Now is the perfect time for Biden to transfer Russia’s frozen assets to Ukraine....

NO!!!!

And what’s an “Aftergut”, anyway? Yikes!!

[DesertRhino]

Hard to imagine a better way to finish the destruction of American banks as a place for other nations to keep their assets.

[salmon76]

Ukraine? How about transferring that money to U.S. to build wall to prevent terrorists from invading us?

[Fido969]

Of course, if they do that, no one will trust the US with their funds ever again.

[Fido969]

Of course, if they do that, no one will trust the US with their funds ever again.

[escapefromboston]

Probably a bad idea in the long run. Who would trust western banks of America can just steal your money ?

[EnderWiggin1970]

Right, Russia can just use such an act to reciprocate. That's why this is most likely an empty threat.

OTOH, I do recall that early on in the conflict, without any due process, various western nations simply seized various assets of Russian individuals in an incoherent display of aggression. So we can't necessarily trust that the lawless and arrogant elites in the West will behave rationally.

[bte]

They are a lot of not so smart people on this board who advocate for such things...the greatest damage of the Ukraine war is it killed the dollar as reserve currency...in the future with US budget deficits...I feel sorry for the country...Biden really killed the future...SAD.

[House Atreides]

Wow, the well of OTHER-PEOPLE’S-MONEY must be starting to run dry.

[pepsi_junkie]

Freezing the assets of other nations is a dangerous thing, it undermines the international trust in our banking and finance, important things when you are the de-factor reserve currency for the world (for now). When you start to confiscate and redistribute them it's a whole new ballgame.

Yes, nations will look and say 'Oh, it's Putin they're doing it to. I see. But ... what if someday it's us?'

[Steven Scharf]

The headline does not match the excerpted part of the article.

I am not going to read further if you cannot at least match the headline instead of your agenda.

[tlozo]

Belgium will invest €1.7 billion next year to assist Ukraine by drawing on its own tax revenue from frozen Russian assets, Prime Minister Alexander De Croo said, as the European Union mulls a broader windfall levy on profits from the sanctioned cash.

Most of the frozen Russian central bank assets — now more than €200 billion — are held in Europe, with the bulk of them at settlement giant Euroclear SA in Belgium. Those proceeds are subject to a 25% corporate tax in Belgium.

https://www.bloomberg.com/news/articles/2023-10-11/belgium-to-use-tax-revenue-from-frozen-russian-cash-for-ukraine#xj4y7vzkg

[Dat]

So are you claiming the US dollar is no longer the worlds reserve currency? Like as of this moment or before?

[Navy Patriot]

Now is the perfect time for Biden to transfer Russia’s frozen assets to Ukraine

As long as we fly the proper flag when we do it:

[Clemenza]

Would love to hear that Putin was forced to take it up the pooper.

[Navy Patriot]

...'Oh, it's Putin they're doing it to. I see. But ... what if someday it's us?'

Bingo.