Posted on 02/28/2022 4:04:32 AM PST by Cronos
The European arm of Sberbank (SBER.MM), Russia's biggest lender, faces failure, the European Central Bank (ECB) warned on Monday, after a run on its deposits sparked by the backlash from Russia's invasion of Ukraine.
Western allies have taken unprecedented steps to isolate Russia's economy and financial system including sanctioning its central bank and excluding some of its lenders from the SWIFT messaging system, used for trillions' of dollars of transactions.
(Excerpt) Read more at reuters.com ...
All good fun until the globalists start a cascade that collapses our shaky economy and the dollar as well. There will be celebrating over this in some quarters, but it’s far from certain this won’t damage us too. Biden and Kamala already gave speeches that economic suffering is our patriotic duty. Buckle your seat belts.
Shares of leading banks sank with the European banking sector (.SX7P) down 7%, steeper than a 2.5% fall for the Euro Stoxx index (.STOXXE).
Wonder what China’s up to ....
All the moron had to do was send them back to their bases.
Putin miscalculated and Russia will be degraded economically, politically and credibility wise.
Yet the slurpers on here think he is genius.
Putin badly miscalculated. He thought Zelensky would flee and that his army would be welcomed as liberators.
Wrong and wrong
A commentator on Fox today said that we are now facing “the greatest national security challenge since the Cuban missile crisis.”
Meanwhile the ruble is collapsing and a bank run is likely in Russia.
I’m reminded of the sanctions on Japan in 1941, and how they reacted when they believed their backs were against a wall. Expansion of their empire was a now-or-never imperative...if only they could disable America’s Pacific Fleet.
Russia is not that desperate yet, but could get there very quickly.
Point...Biden will definitely hurt the average American.
I’m wondering if Russia will be repeating the economic crash of post WWI? The younger generation in Russia and here have never experienced real financial pain as we have during the Carter years.
one difference - a big one - is that Putin is losing the support of the Russian population
So true. Nobody is as "on board" as a native of Japan, circa 1941. Putin is no godhead in Russia. His adventurism will not enhance his brand. He's posing for a statue in an era of statue topplers.
Nevertheless, he's as harmless as Alec Baldwin (playing with a real weapon pointed at an innocent Ukrainian).
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