Russia’s $10 B Treasure in the U.S. Should Be Turned Against Putin.

As Vladimir Putin vows to continue his genocidal invasion of Ukraine,

President Biden could liquidate the tens of billions of dollars the Russian central bank has parked in the United States as part of its foreign exchange reserves;
by some estimates, those funds may total $100 billion or more​

These assets are already frozen at the Federal Reserve and other banks thanks to Treasury sanctions banning transactions with the Russian central bank. With new details of Russian atrocities making the prospect of lifting those sanctions increasingly untenable, those funds have, in effect, been seized indefinitely. Liquidating them now would not only be likely the fastest way to increase American aid to Ukraine without further burdening and fatiguing American taxpayers. It would also send a potent signal that the United States is committed to making even the world’s most powerful states pay for their war crimes.

The United States has occasionally made hostile foreign government funds available for various humanitarian and remedial purposes.

In 2003, President George W. Bush seized approximately $1.7 billion in Iraqi funds sitting in American banks, allocating the proceeds to aid the Iraqi people and to compensate victims of terrorism.
In 2012, Congress made frozen Iranian central bank assets available to settle lawsuits with the families of those who had died in Iranian terror attacks.
In 2019, the Trump administration made some frozen Venezuelan central bank assets available to the exiled opposition leader Juan Guaidó.
And just this February, the Biden administration began the process of liquidating around $7 billion in assets of the defunct Afghan central bank rather than hand them over to the Taliban,
reserving half for Afghan humanitarian efforts and half to satisfy court judgments in suits filed by the relatives of those killed or wounded in the Sept. 11 attacks.
​

Since the reserves in question are Russian state property — unlike the assets of oligarchs — they are not shielded by the usual protections our legal system affords private property. The Fifth Amendment’s guarantee against government seizure of property “without due process of law” applies only to “persons” — not foreign governments — as the Supreme Court suggested in 1992 and multiple federal courts have since held. Protections against the “taking” of property without “just compensation” likewise apply only to “private property,” a category that clearly excludes Russia’s sovereign reserves, even if they are conveniently parked within the United States and in dollars.

 

The US dollar has been the global reserve currency since theb end of WW2, some 75 years ago, brings many economic advantages to the US

in addition to owering the cost of borrowing, it also facililateas the issuance of economic santion; case in point, the sanction against Russia for its invasion against Ukraine,

it has been so effective, that the evil had to

Putin's complaint about it https://twitter.com/WallStreetSilv/status/1755791294192816492?

Putin: "To use the dollar as a tool of foreign policy struggle is one of the biggest strategic mistakes made by the U.S political leadership"


bluntly put, the US has Russia by its economic balls, and squeezing hard !

 

the complaints haven't work, so the evil one is desperate! https://watcher.guru/news/brics-russia-china-india-ditch-us-dollar-in-95-of-trade

so desperate that the eveil one is teaming up with China and India to "de-dollarize" trades among the 3 nations. ROFLMAO

​

while i can understand China, but India, supposedly a US allied?

to say that it is a stupid move by India would be an understatement

• effectively, India is giving the US the finger; and as a result
  • Apple will likely not move its mfg operation from China to India
  • Viet Nam will benefit
• Inida is teaming w China; supposedly its arch enemy
  
  • the recent border skirmish and China's support to Pakistan

  ​

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why is the supposedly democratice India teaming w these two leading Communist countries to give the US the finger?

 

the strong US dollars will continue to stand stall after the latest fad/gimmicks, such as bitcoin, falter.

don't take me wrong, just like the tulips and pet rocks, bitcoins will still be around​

 

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would you align your economy / currency to the US or these two communist countries? what an easy choice!

 

apr 22, 2022, from the NY Times

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Feb 22, 2024, from the WSJ

It’s Time to Seize Russia’s Reserves
​

 

Russian assets in 'urgent' spotlight


U.S. officials continue to discuss with allies what to do with Russian assets immobilized after Moscow's invasion of Ukraine two years ago.

A senior U.S. administration official said Yellen had been clear that it was "both appropriate but also urgent for us to consider ways that Russian assets can be used to benefit Ukraine consistent with international and domestic law."

President Joe Biden remains locked at loggerheads over efforts to approve some $61 billion in further aid to Ukraine with the leader of the Republican-led U.S. House of Representatives.

 

China, India gorge on Russian oil, financing the Evil Empire's invasion of Ukraine



Now that the cat is out of the bag, should the US and allies issue

• additional sanction / ban against China
• new sanction / ban against India ?

​

 

https://www.pravda.com.ua/eng/news/2024/02/28/7444085/

New US sanctions against Russia could affect the nation’s oil exports to India, which is the largest buyer of its seaborne crude.

The sanctions target Russia's leading oil shipping line Sovcomflot, which Washington has accused of involvement in violating the G7-imposed price cap on Russian oil.

"Indian refiners are concerned the latest sanctions will create "challenges" in getting vessels for Russian oil and could drive up freight rates. That may narrow the discount for the oil,
which is bought from traders and Russian companies on a delivered basis," Reuters noted.

Furthermore, Russia may have to move even more crude using layers of obfuscation to protect itself from the risk of further sanctions.​

 

Two-plus years after Russia's invasion of Ukraine, the world's biggest democracy still won't condemn Russia

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Reasons include, but not limited to

• India wants cheap Russian oil
• Moscow is India's biggest arms dealer
• India wants to prevent Putin from getting closer to China's Xi Jinping