Posted on 05/23/2024 11:43:33 AM PDT by ChicagoConservative27
US Treasury Secretary Janet Yellen on Thursday urged G7 ministers meeting in Italy to consider “more ambitious options” to use frozen Russian assets to help Ukraine.
The ministers and central bankers from the Group of Seven world powers are meeting in Stresa, on the shores of northern Italy’s Lake Maggiore, to prepare for a summit of G7 heads of state next month in Puglia.
Yellen said the group would also discuss what Washington considers to be “overcapacity” of key green technologies from China such as electric vehicles, batteries and solar panels.
Top of the agenda is a plan to finance crucial aid to Ukraine using the interest generated by the 300 billion euros ($325 billion) of Russian central bank assets frozen by the G7 and Europe.
(Excerpt) Read more at breitbart.com ...
Dammit, Janet!
Evil, too. Basically making every stereotype that Russians believe about Americans to be true.
USA wants to drag Europe into the Russian asset seizure, so there isn’t a split where USA seized assets, but the EU didn’t.
If the EU wants to be on good terms with Russia eventually in the future, they will not follow Yellen’s request.
And, as an aside, having taken Econ 101 as a college freshman some decades ago, I see constant examples of (apparently) how much more I know about the topic than does Ms. Yellen.
Dollar will be ditched by countries watching…
The only thing that makes Russia formidable is their holdovers from the USSR. Even their president is a holdover from the USSR.
Frankly, Russia is a doomed country. Despite the wack-a-doodles on this site, Russia is shrinking faster than the West and has more “diversity” than even America. You have to be pretty terrible if your country gets even worse once communism ends. I think only Afghanistan shares that distinction.
She makes my Dogs look like Rhodes Scholars!
And what’s to keep other nations from doing that to US assets in return?
She’s absolutely stupid, as are the zeepers cheering it.
The West is build on debts and a nose dive in population as well. Especially if one takes out the illegals.
But European countries worried about creating a precedent in international law and the risk of serious legal disputes with Moscow."
The bit about loan using interest was bad enough. I'm sure the European countries were concerned about more than just 'precedent in international law' and 'legal disputes' when Yellen made that initial proposal.
With the illegals might be worse—less producers and more takers rather than the other way around.
This is true.
Heard on “Louder with Crowder” that illegals are costing American taxpayers upwards of 200 billion dollars a year!
As I’ve said in a previous post, this truly is a paradigm shift that few are really talking about. When we seized Russia’s assets the whole world woke up to the bully USA. Previously, the US was a safe financial haven in large measure because you could bank on the fact that the was a trustworthy moral agent. Biden and the Democrats have destroyed that by confiscating/stealing Russia’s wealth.
Yes, I understand Russia invaded Ukraine but prior to that the sovereign financial were secure and untouchable.
Yes, I understand we “secured” the assets of Iran, but it was always understood and publicly stated that the assets remained Iran’s. And, of course ultimately Obama sent it back in plane loads of tens and twenties.
Since the seizure of Russian assets BRICS took off in earnest and most of the world is actively repatriating their gold and deleveraging from us. I really don’t think people are grasping what Biden has done here.
There have been a lot of people outside the United States who have said exactly what you are saying.
We’ve used the financial system as a weapon not only on Russia but little African countries like Uganda. In Uganda’s case it was for not bending the knee to the rainbow mafia.
Yes people in the rest of the world are noticing, our media just doesn’t talk about it.
How’s that oil price cap working for ya Yellen?
Just lthis week China dumped a record $53 billion of US Treasuries. Slowly, then suddenly our reserve currency status will become negligible. Our currency reserve status will probably not be totally eliminated, but it will certainly become weak tea to what we have known and our national standard of living will be significantly reduced.
And now with his next trick, the Great Vlad will make Western intellectual property in the Russian Federation disappear.
Puff!
The Vladimir Putin Memorial Cancer Institute now offers the world the lowest cost cancer treatments.
How is that possible?
This vial would cost $20,000 in the USA. At the VPMCI it will cost the patient 2000 rubles.
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