“It’s never just business. It never will be. If it ever does become just business, that will mean that business is very bad.”
— Phil Knight, Founder of Nike, Shoe Dog
Written by Bryan Lutz, Editor at Dollarcollapes.com:
If there is anything more important to the value and dignity of a person, a nation even, it is private property.
Yet, this form of stealing, akin to violence, is slowly becoming America’s new foreign policy slogan.
When Russia invaded Ukraine, the United States stole from Russia.
They froze Russia’s Central Bank Assets, attempted to cap their oil prices, and blocked them from the SWIFT international payment system.
And effectively locked the country out of access to $300 Billion.
And that was only the beginning of warning signs for the nations of the world. They read…
Don’t mess the US.
And for the wise?
Start finding alternatives. Your nation’s money isn’t safe.
Since then, the BRICS nations (Brazil, Russia, India, China, and South Africa), have stepped up efforts to de-throne the dollar from international trade. Most of BRICS’ success comes in the form of payments for commodities, specifically oil.
Which, as of a recent report, twenty-percent of global oil trade is now done outside of US dollars.
Now the US is about to send that message home by another show of force. Using $300 Billion of Russian reserves to fund the war against Ukraine.
The New York Times reports:
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up
“The Biden administration is quietly signaling new support for seizing more than $300 billion in Russian central bank assets stashed in Western nations, and has begun urgent discussions with allies about using the funds to aid Ukraine’s war effort at a moment when financial support is waning, according to senior American and European officials.
Until recently, Treasury Secretary Janet L. Yellen had argued that without action by Congress, seizing the funds was “not something that is legally permissible in the United States.”
But seizing the assets would take matters a significant step further and require careful legal consideration.”
But the process of making the seizure and use of those funds legal is already under consideration for international law-makers.
The United States, among other nations in G7 recently spent time discussing it.
The Financial Times reports:
“The US has proposed that working groups from the G7 explore ways to seize $300bn in frozen Russian assets, as the allies rush to agree a plan in time for the second anniversary of Moscow’s full-scale invasion of Ukraine.
While no decisions have been taken and the issue remains hotly debated inside European capitals, the acceleration of work on confiscating Moscow’s assets for Ukraine highlights its rising importance for the west.
The topic was discussed this month by both G7 finance ministers and their deputies, according to people briefed on the calls, which touched on how to develop such a policy and assess the risks involved.”
The economic consequences of using the seized funds to support Ukraine’s military effort would send an even deadlier message to the United States friends and enemies.
And the fact that the United States even proposes this to their allies should be a signal that the SWIFT international exchange system is not safe, and neither is the dollar.
However, sanctions carry on, as do the hand shakes, as do the threats…
Referring to the latest seafood and diamonds blockade against Russia, United State’s National Security Advisor Jake Sullivan stated,
“We are sending an unmistakable message: Anyone supporting Russia’s unlawful war effort is at risk of losing access to the U.S. financial system.”
The US proxy war against Russia only seems to be intensifying in the financial world.
Any confiscation, or use of Russian funds for military purposes would only communicate what the United States really thinks about their allies hard-earned labour.
It’s all available to “just take it…”
Which will increase de-dollarization efforts of BRICS nations…
And attract more to the cause.
If the US wants to remain a trustworthy center of financial stability, perhaps staying clear of the “just take it” ethic would be an important move.
