How Seizing Russian Assets Will Change the Invasion of Ukraine

Check out my book "How Ukraine Survived": amzn.to/47gnlEf. You can also read it for free by signing up for a Kindle Unlimited trial at amzn.to/3QMsBr8. (I use affiliate links, meaning I earn a commission when you make a transaction through them. Even if you read for free, you are still supporting the channel.)
Recently, the United States made the first steps toward seizing $300 billion in Russian assets. Since the start of the invasion, that money has been frozen in Western accounts. But soon it may be possible that the United States, the European Union, and others will outright confiscate it. This video examines the complicated politics that go into the decision. It is not all upside for the West, but it also is not an inherently flawed strategy.
0:00 The West's $300 Billion Question
1:58 The Russian Assets the West Controls
5:57 What's in the U.S. Seizure Bill?
7:36 Russia's Tit-for-Tat Response
9:17 Will Seizure Destroy Trust in the System?
11:57 The Hidden Benefits of Seizure
14:58 The One-Time Cost Problem
21:23 Biden Learns about the Wagner Rebellion
Here is my article from the symposium on the war: journals.sagepub.com/doi/full...
And here are the others:
"The bargaining framework and Russia's invasion of Ukraine" (this is the introduction to the symposium): journals.sagepub.com/doi/full...
"Commitment problems and Russia's invasion of Ukraine": journals.sagepub.com/doi/10.1...
"Crisis bargaining, domestic politics and Russia's invasion of Ukraine": journals.sagepub.com/doi/full...
The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.
Media licensed under CC BY 4.0 (creativecommons.org/licenses/...
By Government.ru:
archive.government.ru/eng/docs...
By Kremlin.ru:
tours.kremlin.ru/tour/senate
kremlin.ru/eng/articles/bigpho...
kremlin.ru/news/20604
en.kremlin.ru/catalog/keywords...
kremlin.ru/catalog/persons/67/...
en.kremlin.ru/events/president...
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en.kremlin.ru/catalog/persons/...
kremlin.ru/events/president/ne...
en.kremlin.ru/events/president...
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[@mightybagrutlord]

"Special banking operation" had me in tears 😂

[@donnicholson3170]

Me too! 😅😂

[@billy2807]

Damn! I came here to say this. haha

[@saparotrob7888]

@@billy2807 Ditto.

[@Gaetano.94]

No it didn't.

[@jaypaige7550]

@@Gaetano.94 😭

[@andreassinats6432]

I had been calling it a seizure, but Special Banking Operation is way funnier

[@edwardwongiii2229]

Just wait until BRICS+ does a Special Operation on the Western Financial System in the near future. I bet the West won't be laughing.

[@Yezpahr]

**In Clancy Brown's voice** Epilogue: In a world where you don't run from the law but the law runs from you... Their weapon: an angry e-mail. ...The only justice made is with rising interest rates and giving no quarter or dime... Their enforcer: a glassed suit with accompanying suitcase. ...Ready to make you sign over the literal skin on your back... Special. (Dolby fx) Banking. (Dolby woosh) Operation. (Tripod sound a la War of the Worlds)

[@nuke_Godjira]

Ukraine will never gonna get that aid😂

[@vikavikavika123]

@@nuke_Godjirayou wish, bot

[@1mol831]

It would damage US dollar globally. Though it has plenty of global reputation to be damaged until the damage surfaces.

[@ExcretumTaurum]

"Special Banking Operation" had me laughing so loud that I startled my dog

[@MasDingos]

Similar thing happened to me. But was my dog shocked because she had already realized that the geopolitical vagaries of such seizures would erode confidence in the USD as global exchange currency (or worse, necessitate questioning the very need for such financial hegemony considering the current realities of deglobalization); or just because of my spit-take at 'Special Banking Operation'.

[@itheuserfirst3186]

@@MasDingos Sure. The U.S. dollar isn't going anywhere. The Ruble on the other hand. 😁

[@user-tk1ti1wx8e]

It's all about your country's Federal reserve banks

[@aaronlopez717]

Banking / IMF And black rock corporations . money of a few institutions . !

[@-Teca-]

Holy fuck Special Banking Operation would be such a funny way to describe it, especially if the US called it that too

[@havanasyndrome3024]

You can stop laughing now 🤡. There are $288 billion of American assets in Russia. Putin signed a decree today saying if any of the Russian money gets sized they'll simply seize American assets in retaliarion. FJB got outwitted again. Gotta feeling AmeriKKKunt's special banking operation will turn out to be a complete failure.

[@efghggdxlmfn33]

Holly shit! You fucked up again! Cry more: Russia has more than 300bln western assets. The outflow capital from Europe is only accelerating. India's central bank has moved around 100 tonnes of gold from the UK back to its vaults in India and intends to move more in the coming months. 100 tons of gold is almost 1/4 of India's foreign reserves of the precious metal at the end of March. Discussions by Western countries about the possibility of confiscating Russian assets are beginning to backfire.

[@graham1034]

Probably worth mentioning that if Ukraine gets the full $300B and uses it to buy Western weapons (where they would otherwise receive the same weapons as donations), it's essentially a transfer to the West.

[@evananderson1455]

You're not wrong. I offer a counterpoint tho, there are more than a few Americans who are suggesting we stop sending aid altogether, regardless of whether it's a "donation" or something more like lend/lease.. If American support disappears for whatever reason over the next year, that 300B could be the difference between becoming Orcs or staying Ukrainian. Edit: Amazing pfp, btw. I salute you o7 lol

[@viewer-of-content]

I'm pretty sure Ukraine is getting more money if they get Russian assets. Russia has done up to a Trillion dollars in asset destruction,(not gdp loss, but asset evaluation,) in Ukraine. And the USA and Europe are probably not going to donate a full trillion dollars of replacement.

[@Red-Check-Mark]

​@evananderson1455 😂😂😂Ukraine has received close to that amount even know and they are STILL losing and falling back. Ukraine already speaks Russian as their dominant language, so they will enjoy being Russian. By force if needed.

[@joelewis1776]

@@Red-Check-MarkThanks bot

[@graham1034]

@@evananderson1455 For sure. Alternatively Ukraine may still receive the same amount of donations in addition to the $300B and be far more able to defeat Russia. My point is mostly that there is some financial incentive for The West to give the money to Ukraine.

[@john-carl2054]

I’ve said this before but in my opinion at this point the best course of action is to give me the assets.

[@nicholasgutierrez9940]

Based

[@casbot71]

And then stay out of buildings that have windows that can open on upper floors....

[@john-carl2054]

@@casbot71 I’m a ground floor kind of guy myself.

[@jakehandley3366]

share?

[@impulsiveDecider]

​@@jakehandley3366we should do a three way split

[@armintargaryen9216]

We have a saying in Spain: "100 years of forgiveness for the thief who steals from another thief"

[@IconoclastX]

What western country did russia steal from?

[@sanelemngadi9324]

Please elaborate on what this means

[@Destroyer_V0]

@@sanelemngadi9324 It prolly means exactly what it sounds like. That a thief who steals from another thief is better liked, because no one likes the first thief who stole your stuff. But everyone likes when that first guy gets his comeupance. The whole fable of robin hood is kind of like this in a nutshell. If you view rich nobles as the first thief.

[@arvintyree1109]

​@@Destroyer_V0 the first link is the king who commands the nobles to pay taxes, the second is the nobles who persuade (or intimidate) the commoners for coins. The third link is the commoners own fear and ignorance for handing over their daily fortunes. That's what makes the theif so both infamous and beloved, the thief is the "unlinked link" (zorro is my favorite with Robin hood second)

[@YapsiePresents]

Spain already forgave the USA then for 1898

[@Dandylocks]

“Get excited because it’s time for lines on maps” Physically starts wiggling with glee

[@paulflocken2730]

9:15 "Without any clear benefit to anyone." The bloodsucking lawyers--- "Are we invisible to you?"

[@phineascampbell3103]

Well, they don't show up in mirrors, do they...?!

[@alapaticornell4391]

Stop invading other country or u will get what's coming to you.😢

[@t5ruxlee210]

"Seizure" vs "Confiscation" somewhat implies that "a future peace oriented", fully democratic, successor Russian regime, will have a very strong legal claim to be compensated in full over time.

[@justincronkright5025]

@@t5ruxlee210 If it went to Ukraine's infrastructure & repatriation, etc. efforts, then I doubt it would be in full - since it would be used as principle in rebuilding efforts & so on. Same idea as paying it from elsewhere, but cuts out a step.

[@MSDGroup-ez6zk]

So stealing people money is OK for the western?

[@romanbellic810]

Belgian here, we're supposedly using the interests gained on the money parked here to fund aid to Ukraine.

[@cynthiaherbst3909]

I can see that being a good means of having a continuous stream of funds instead of all spent in one go, and then the bullk of it can be used for post war rebuild and humanitarian aid.

[@chrystya]

It won’t do anything to the financial system. Investors will be glad to put their money where the country does not tolerate scammers and grifters.

[@danidurity8701]

And taken away when you dont go along with some policy.

[@jadams3427]

Belgian finances are always a mess, but don't worry... I bet the City of London and the Caiman Islands are in it with you.

[@maximebegin1454]

Nice... Slava Ukraini!

[@tsugumorihoney2288]

And now the question: You have money from other countries stored in your country, you have confiscated the money of one side, what will the rest do? Correctly, they will start withdrawing their money, what if you consider them not democratic enough and try to steal money from them?

[@andrew_decor]

Этот процесс не остановить. Репутация доллара падает. Брикс не на пустом месте вырос

[@Brent-jj6qi]

@@andrew_decorbrics is a meme, china and India can’t get along

[@Grand-Rose]

But again we do not know the line between "reluctant leavers" and "reluctant stayers". They COULD withdraw. But where would they put it? What is so stable? Not the Yuan for now.....else China would have it's OWN reserve currency.

[@SP-pr7gq]

Those countries will not invade neighboring countries so they don’t have to worry about it. It is very simple.

[@tsugumorihoney2288]

@@SP-pr7gq hm why then so called "civilized" countries can invade and bomb other countries and other who are not "civilized" can't?

[@Robert399]

The "one-time cost" argument only works if the alternative is threatening seizure at the final negotiating table. A one-time cost that (your opponent believes) you'd never be willing to use has no coercive power in the first place. Of course there are other important arguments about the global consequences of seizure but looking solely at the Ukraine War, it's a tradeoff between the coercive power of the contingent $300bn seizure at the final bargaining table, and the change in the expected military outcome from giving Ukraine $300bn.

[@joek600]

The point is that everybody knows that Ukraine would only get a small fraction of that money and the global economic consequences would shake the world, as all investments in the West by Asian and African governments would be considered extremely risky. That would be also the end of the petrodollar and the infinite ability of the US to print money. Then those 300 Russian billion would not be enough to fix the kitchen sink.

[@Short_Clips44]

@@joek600 u r genius thx!

[@TimVoktwo]

I think one important issue to ask is, does Russia needs the $300 billion to finance their economy? If they need it, it could be a leverage. At this time, it seems that they don't need it. They are self sufficient. Lavrov and Putin said that. The argument that the money could be use to buy weapons is not a reality. The first thing that will happen is Ukraine's debts have to paid first. Lawsuits will be flying like fireworks to make it happen. The other concern is Russia will file lawsuits in every court to stop the release of the money. It will get stuck in limbo for a few years while Russia is annihilating the Ukrainian soldiers and turning Ukraine into a wasteland not worth salvaging when the dust settled. In the mean time the world financial system will be tearing apart because the US gave countries a clear justification not to use dollars in international transactions, and not to invest in dollars. These politicians have to be fired. They have no common sense. My hyperbolic hypothesis. Just saying.

[@murimurimrui]

@@joek600 LOL, that's too big brain for the normies.

[@angies.7689]

What final negotiating table? You mean the one in fantasyland where Putin’s word is worth anything? (Kind of like the ruble)

[@gustavofring-thechickenman]

Good discussion , however, Russia sees this fight as an existential fight… 300 billion isn’t a leverage point

[@velisvideos6208]

Correct. The war will be decided on the battlefield.

[@yosefyonin6824]

they could just withdrwa from ukraine and the fight will be over. but i guess it's about Putin's existence as russia's supreme leader

[@lalzgarra9493]

​@@yosefyonin6824aww darling, ukraine will attack russia, so russia is not going to get back

[@mikecamacho1934]

No it's not about Russias existence. It's about the current leadership in Russia. Unfortunately, the Russian people have no concept of taking control of their own government.

[@vincentseng]

@@yosefyonin6824 They literally said that NATO not following their agreement and keep expanding to Russia's border. Remember when Russia want to join NATO but get refused? Yes NATO been making Russia enemy ever since Putin still a newbie president who want to join the west at the time. Imagine if Putin joined NATO then Putin will be need to be more "Democratic" to play with NATO guidebook. The West can't see anything past 5 years in the future for their strategic plan-action.

[@awaistariq1621]

I hope you googled Russia's national external debt - they will simply call it paid which will be a net 0

[@hansj.hobein5762]

Russia never had any dept since the fall of the USSR

[@christophermurphy4511]

@@hansj.hobein5762 It's not a department, it's a debt.

[@eudaenomic]

Assuming Russia did not invest in Treasury bonds. My German ex wife's family invested in us stocks and Treasury bonds.

[@jilbertb]

Well, they NEVER PAID BACK THEIR LEND LEASE FROM WW2, so we're even now.

[@blakebrown534]

Good luck ever banking again for Russia.

[@maxidaho]

Imagine your trusted bank changing the rules and taking your money; looking at you Canada. The affect this would have international commerce would last for generations. Any penalty levied against Russia must come from a legal or governing body that is more broadly representative of the world. Not just the US House of Representatives.

[@technokicksyourass]

Like the UN? Hilarious! They can't even declare a pandemic when people all over the globe are dropping like flies... because it might offend China... LOL!

[@andresfelipeod6819]

you nailed it. I really do not understand why people are so Dumb to celebrate that action, The lost of Confidence , in a Fiat-currency system , is Fatal to the EuroClear. only Chinese and another Asian countries like petrogulf monarchs, could celebrate this decision, because they have their own banks, and will take good from this stupid European decision. the real frustratin thing is the ignorance of the people watching them celebrating with the comments, and this people are from European countries!!!! they will become the victims of that stupid decision.

[@kubauhlir1730]

As the Ruskies did when seizing western assets? 🤡

[@chrisbeer5685]

Right, let's bring it in front of UN security council. Wait, who are the 5 veto powers again?

[@josephbellardo2329]

Such a huge fan of your videos. So well put together and in depth. I wish you’d been one of my collegiate professors

[@Phlosioneer]

One point not mentioned in the analysis: the threat of seizing the money may have either 1) already been internalized by russia, or 2) may have been given odds so low by Russia as to not be an effective threat anymore. In the first case, Russia would have already written off the funds as lost, or as an acceptable cost for the war, at which point they no longer represent bargaining power. In the second case, Russia was essentially calling our bluff, only to learn now that we’re following through on the threat. These situations correspond to Russia putting a near 100% or near 0% probability on our threat to seize, respectively. In either case, it’s effectiveness as leverage is far outweighed by the resource’s value. We can’t know if these possibilities are actually at play here. But we might be able to learn if the 0% case is at play if Russia responds by internalizing the revealed information that the threat is genuine, and then attempting to bargain to stop the follow through.

[@ala-th3ln]

If the West seizes all money of states they don't like, nobody will keep their money in the Western banks. The West will lose much more than 300B if they seize these funds.

[@nathanfausti9213]

I’d also like to point out that if the “one time cost” pays for 300Bn of military support, it ends up being a “recurring cost” as those weapons will continue destroying Russia’s economy and remove the need for the politicians of every western ally to politically defend spending their own billions on Ukraine aid. 300Bn would effectively end the war, with Russia on the losing end, and most of that money would end up in the hands of the countries who would produce the most arms and munitions for Ukraine. Win-win-win for Ukraine and the west. No Fing clue why this hasn’t been done already.

[@effexon]

@@nathanfausti9213 I suspect more likely west just pockets it and continues aid from old stocks and says "we helped ukraine". US has done it like this so far. some theory even suggests this was plan all along as fiat currencies suck and loose value anyway, with other fiat papers backing loans.

[@nathanfausti9213]

⁠@@effexon That IS a major concern. I think the current US administration is waiting for the likely full control of congress after the next election so that they can disburse the funds for legitimate reasons without having to fight the republicans trying to line their owners’ pockets. 🤷

[@m4rkscott]

Does anybody know the value of the assets that western businesses had to leave behind in Russia at the start of this war including structures investment and hardware and if Russia adopted these or if Russia is considering reimbursing these companies. Russia will have to wave goodbye to these assets just like the west has to its assets and investments in Russia.

[@IAmTheAce5]

I don’t know how many people remember, but Russia has already seized Western assets- the Western built and financed airframes used by Russian airline operators.

[@mitchyoung93]

No the western entities refuse to accept payments and honor contracts.

[@JoeSmith-sl9bq]

Fair

[@PatagoniaAries]

Yeah I don't care if they did, I care about the fact this will wreck the dollar as the world's currency and force a collapse

[@christosswc]

That was a Russian response to the West freezing their assets and illegally sanctioning them and they continue to respond to any new actions taken against them.

[@PatagoniaAries]

Actually, do it, if more countries see what America does they'll ditch the dollar faster

[@sirsplintfastthepungent1373]

It's not 'theft', it's a totally legal financial annexation

[@williamlloyd3769]

Fantastic explanation of expectations versus reality of asset seizure.

[@twillis1998]

“Special banking operations” 😂

[@andresfelipeod6819]

People who do not understand that a Bank Stealing money from their Costumers, is a Bank that loose credibility, if they do not understand this basic concept of the economy, those people is Dumb, Stealing this assets is Fatal to Europe, could be a Problem for Russia, but is Lethal for the European Bank system in general.

[@andrew_koala2974]

A man standing before a Judge in COURT: JUDGE : You are charged with armed robbery of a BANK - DEFENDANT: no YOUR HONOR - it was a special banking operation and there is legal precedence that it is allowed by law.

[@waynesworldofsci-tech]

It’s all about the money, honey.

[@lennyjung1290]

Yes. It’s always been about the money. The US doesn’t have to use use any military muscle to invade or fund revolution in foreign countries to allow American corporations to extract wealth from foreign lands; now they can just steal foreign assets held in their country. This 300 billion Russia assets in the west, was deliberately left in the west for this purpose so that the third world can see that the west can seize any country’s assets, if they do not follow western interests. It is in fact a cheap amount of money for Russia to “spend “ to snowball dedollarization. This is why BRICS+ will become more important in future decades, especially if they introduce a digital currency. As well, Russia and China have shown that it is possible, in a multipolar world to survive US sanctions with their support. It is evident now, that as more African nations throw the yoke of western exploitation, by ousting pro-western governments through coups, they can rely on the support of Russia/China for military security and economic development. The 300 billion is a poison pawn gambit left by Putin for this purpose. He could have repatriated the funds prior to invasion but did not. As well, the assumptions in the video are that Ukraine has a chance of winning this war against Russia; there was never a chance without NATO committing troops on the ground and more powerful weapons. Ukraine will simply run out of manpower in a war of attrition, and these limited weapons will not tip the balance of war. Most of the Russian casualties in the early part of the war were irregulars, conscripts from prisons, using old military Soviet era equipment. They did not even commit their full armed forces. The Russians have also held back their full arsenal which they might deploy in the event of NATO direct intervention.

[@deker0954]

American aid is book value of replacement of mothballed equipment sent to Ukraine. Not worth the storage cost.

[@andresfelipeod6819]

all this war, was only about Money, never was about freedom or democracy, or the Usual Lies, United States invented since Vietnam, it always had been about using War as an Scheeme of making money.

[@jfmccrosson]

I will never stop watching this channel

[@jamesderekhowell3293]

Heck yes! Congratulations on being included among peers in a journal; always good stuff!

[@noname-ll2vk]

It's not just the amount of treasuries china holds but their duration. China was I believe already moved mostly into short term treasuries and thus are rolling them over relatively rapidly. Which means they can get out or reduce their position relatively rapidly. So to get accurate sense you have to know both total and distribution of durations.

[@JohnSmall314]

Ah, now that is interesting. I thought China was mostly moving out of US Treasuries and into gold because it expects to be shut out of the global finance system when it invades Taiwan.

[@gregoryturk1275]

Or it could be WW3💀💀💀

[@ArcticDucq]

Sieze US assests all over the world to provide assitance to Iraq to adress damage resulting from the unlawful invasion by the US ? I mean we can use this logic in many cases i don't think world economy works that way but we will see.

[@Taskarnin]

Considering the US never tried to claim the territory you’re either a moron or a Russian troll. Secondly, the world owes the US for the current era of stability. They all blame the US when we don’t act and then blame us when we do, so no wonder we don’t care what anyone else thinks.

[@catadoxas]

china might use the legal precedent and seize all US factories next time the US illegally invades... and we all know that happoens at max every 3 years

[@dominuslogik484]

Guess who controls the global economy though numbnuts

[@UGNAvalon]

Why do you think the US gov doesn’t want to allow private citizens to sue Saudi Arabia for 9/11? Or why it never signed onto the ICC? 🙃 But to answer your question more directly: Geopolitics is all about enforceability. The world could try to seize US assets, but then they’d have to deal with an angry US, and nobody wants to bother with that (unless the US somehow makes a ton of enemies, in which case hoo~ boy~).

[@ary2407]

​@@UGNAvalon they already had lot enemy . Just didnt act or cant act yet

[@ulrikof.2486]

I like the "special banking operation", it sounds somewhat familiar.

[@jeremyallard7015]

William a very good video demonstrating the ebb and flow of Sequestrated Cash as well as the dangers associated with it. Thank You. Congratulations on your Peer Review.

[@Deltarious]

"Special banking operation" 100% has to be the official name for it, whether you're for or against.

[@JonyC6969]

300 billion in exchange for whole of Ukraine seems like a fair trade.

[@WildH10L]

Congrats on your publication! I definitely appreciate your academic expertise in your videos so I'm glad your videos gave back a little to your academic side as well.

[@BrandonOrtizCasas]

Congrats for your publication!

[@epicmonkey6124]

Either way $300+ billion dollars is A LOT of money, it's at least a few years worth of support and it'll go a long way in this war, it'll also allow other countries that are currently donating a lot to focus more on building up their own stock again.

[@seanmorgan8128]

Money can't buy man power

[@epicmonkey6124]

@@seanmorgan8128 that's true, but it can buy a lot of drones and ammunition

[@KMisty1]

I believe the lawyers have already given their opinion on this 'legal theft'. Two things of note. The interest earned on those assets has the same legal status as the assets themselves. It is therefore useless to try separate the treatment of the two. Then there is the threat of Russia seizing western assets in retaliation. This will not be restricted to assets within Russian borders. What you will end up with is a very unstable economic position for all. There have already been examples of what happens when European countries have tried to seize Iran's assets. Economic piracy is not beneficial to the West, better tread carefully.

[@itheuserfirst3186]

Nah, the West is good at generating capital. Russia, without oil, not so much. So, if it becomes a game of chicken, then the easy choice is to seize the assets and fund Ukraine. Russia's response will not matter. Ukraine will be funded indefinitely, and Russia will be that much pooerer.

[@yyyy-uv3po]

But Russia has already seized many Western assets (airplanes, companies sold for a ridiculous price, etc). They could easily justify a seizure corresponding to the equivalent as "reparation". In fact, I'm surprised of the lack of reaction about Russia's robbery.

[@dacorum8053]

@@yyyy-uv3po The companies who sold their subsidiaries in Russia for a fraction of their value didn't do so because Russia made them do so but because of western sanctions on Russia forced western companies to cease trading with them and the companies concerned should be seeking compensation from western governments for their losses. Russia meanwhile now owns the companies and the factories they set up in Russia and is keeping the profits for themselves. it is a win-win situation for Russia, thanks to the West helping them so much by imposing sanctions. I suspect the Russian leadership is having a good laugh at how western sanctions have backfired on the west and has made Russia richer and also far more self sufficient

[@joek600]

⁠@@yyyy-uv3poThe one euro/dollar sale of Western companies in Russia were a result of PR on the part of those companies who were facing public shaming (led by specific Ukrainian websites) for doing business in Russia. The ‘’sale’’ was not an act of seizure as you think but more like a wink of the eye of the Russian State towards those companies, ensuring them that the ‘’sale’’ could be reversed if they were to return and do business. Off course as the war progresses and the relations are becoming more and more tensed, that silent agreement under the table might not stand.

[@Ryuker16]

​@@dacorum8053 It's a opposite. You kneecap any future foreign investment for decades. It's short term gain to seize some fast good joints but lose ALL potential western fast food joint investment for decades. Even if sanctions dropped, few investors will trust the russian government. Ask Iran, Cuba, North Korea, etc. how it worked out

[@JohnSmith-fg7rd]

I would call it an emergency strategic absorption of funds.

[@pimpampet7053]

Yes, Lines on maps!👍 Great video William. I enjoy it every time

[@JustSomeTommy]

I almost had a seizure hearing that word so often, so I will refer to it as a 'special banking operation' from now on. That option sounds the best to me.

[@theotheronethere4391]

The thing is the roadblock is actually not the Russians or their response, but the downstream implications. Take at the look at the list of the largest sovereign wealth funds in the world. Notice what countries are on in the top? Saudi Arabia, China, Kuwait, UAE all sitting on trillions of dollars, all with shady human rights record. If Europe decides that a war in which they are not part of is enough of a justification to seize assets, then suddenly all of those countries' wealth is liable to be seized. (Saudi Arabia, Kuwait, UAE literally invaded Yemen, China and Taiwan). There could be a chilling effect in which those countries might decide to deprioritize Europe relative to the rest of the world. Why does that matter and why are the Americans less afraid of it? Well Europe has been struggling for a long time of their capital markets being second fiddle to the US capital markets. Companies large and small are ditching European exchanges to go to America, start-ups are decamping to the US because it is easier to get funding, etc. If the Saudis, Chinese, Kuwait and UAE governments of the world decide Europe is not even worth to hedge against US political risk, then Europe is permanently dooming it own capital markets.

[@destroyerkuroshiokai]

You share my concern. This action could have the unfortunate effect that it props up something like BRICS or another competitor to the US hegemony.

[@Brent-jj6qi]

@@destroyerkuroshiokaiBRICS is a meme, there is no actual competition

[@kingace6186]

Dude. This is literally just doom mongering. Europe will do just fine. And if China invades Taiwan, nah shit this will happen to them to. This not new information for any country. Also, you are incorrect. The biggest wealth fund in the world is Norway. You don't see Norway shaking. Why? Because Norway doesn't abuse the rules of the Global Financial System. A financial system without enforced rules is a system investors fear.

[@piotrberman6363]

The reaction of Gulf countries quickly followed the asset freeze, namely, they do not cooperate with other sanctions, or evade cooperation. UAE became an important intermediary for Russia, KSA became a major customer for oil products. OPEC+ cooperation seems to tighten. It does not help that they were routinely vilified in Congress, so the perspective of asset freeze for them was not absurd. The question is if that was one-time cost, so seizure makes no further difference, or not. I think it increases the risk of a breach between the West and the Gulf resembling 1970-ties, the Western role in Gaza is deeply unpopular there, the implicit threat of asset seizure may convince the elite to follow the popular opinion.

[@AbcDino843]

@@Brent-jj6qi That's the thinking that brought us where we are today.

[@WonderMagician]

Great examination of potential uses and costs! Complex gamble!

[@johnboardman4820]

Thsnk you William. Much appreciated

[@memeconsumer773]

Thats not going to give other nations a reason to join BRICS at all

[@nuggets1833]

BRICS is one giant meme

[@r.m2072]

@@nuggets1833 its actually a pretty big club, and you aint in it

[@suicidalbanananana]

@@r.m2072 Some day soon you will realize its a club of countries taking the piss on Russia, go look up how much Russia has invested vs the rest of them, go look at their plans, go get some actual info about BRICS, it's actually comedy gold, some "partners" of Russia (nope) literally bleeding it dry while Russia cheers to you indoctrinated lot about forming a new currency that no other countries have any interest in trading 🤣 Its like monopoly money but Russia gives it value and the rest of BRICS are laughing their ass off trading it back to their local currency, economic warfare right under your noses but you're too busy cheering to realize 🤷‍♂

[@konfigjunior1855]

​@@r.m2072 thank god

[@rokasb9441]

Sounds like this is the same as with small nuclear weapons, they're strongest when they are not used, but have a potential of being used

[@ethanboyd7843]

Congrats on publishing!!

[@moby4444]

“A special banking operation?” Priceless!

[@dsolis7532]

Do you imagine if Winterfell saved money to invade Kingslanding, but save it with the Lannister? What would be the most logical thing to happen? The Lannister doing a special banking operation

[@a.horizon568]

lines on maps

[@jpoeng]

Lines on Banks…

[@sandymckinnon9762]

lines on graphs

[@singletona082]

Thank you for ensuring widest possible access to peer reviewed data.

[@laguz3413]

The problem with using leverage too late is that it’s value changes with the state of the war. If russia takes half of kiev before such negotiations start, they will lose alot of value, since the outcomes of using it will be worse than using it while ukraine has more bargain power. This leverage is a power multiplier during negotiations, not a flat amount.

[@caiocc12]

Hey babe wake up a new William Spaniel video just dropped

[@farminky]

either this or "I'm a simple man, I see ZZZ, I click" 🥱

[@injest1928]

Ugh why don't you just marry him if you like him so much and let me sleep. I have Pilates in the morning remember.

[@nickjayr0]

insane glazing

[@PanchoRivers-fo8tu]

Your wife has a boyfriend and you know it!

[@jklappenbach]

@@PanchoRivers-fo8tu And his name is William Spaniel. DAMN YOU BILLLLLLLYYYYYYYYYYYYYY!!!!!!!

[@pi5549]

It's not Theft, it's a Special Banking Operation! 😂

[@ulrikof.2486]

Great analysis! Thank you!

[@Poverty-Tier]

A “Special Banking Operation” is the plot summary of “Heat”

[@sirsplintfastthepungent1373]

more like "National Lampoon's Officially Legal Financial Annexation"

[@curtiscarlson8958]

Congrats on the peer review publication. This sounds like a wonderful tool. Keep up the good work.

[@m.streicher8286]

The morally correct choice is obvious and I'm amazed this still a debate.

[@KanuckStreams]

It is still a debate, sadly, because there are people who think morals are what happen to other people.

[@teaser6089]

That might be true, however the morally correct choice might not be the correct strategic choice.

[@gst508]

Morally and strategically correct. At this point giving Ukraine 300 billion to buy arms would devestate Russia militarily. The world's grey area actors will still keep their money in the west because western institutions still add value in ways the alternatives do not. China is already heavily incentivized to provide alternative banking structures. If they could, they would, but they are in no place to do so right now.

[@davidcrawley9479]

Outstanding - you seem to be in good form! We even have the after book plug joke back in. Additional bonus points for the jokes about special banking operation and more. Oh - and I thought the analysis was great too.

[@nvelsen1975]

8:53 Well, having worked governmental law for a decade now I'm willing to take a gamble. Even across jurisdictions, in law a few things tends to matter: 1 - Who does what, who is the actor? Actors are the one who can commit an 'unlawful act' as most law systems define it, and face consequences for doing so. Remember: If you do something that's not unlawful, that's your prerogative, it wouldn't be legal otherwise. You can never be punished for doing something legal. Example: If I sell a 125K house for 230K because the market is crazy, that is okay. If I sell a 125K house for 230K because I lied and hid structural defects, that's an unlawful act and I can be sued. If they sue me for 'The market is crazy so we had to bid that high voluntarily to get it, now we demand his money', my defense will be to shrug, grin, and watch the judge berate the buyers. 2 - Which law field governs a matter? It's pretty widely established that private law forms (contract law, civil law, etc) should not intrude on governmental law. It would be anti-democracy as private contracts could outstrip the power of elected governments. Jumping across law fields so one intrudes on the other is rare. Analysis: The US government (actor 1) acts to seize Russian regime (actor 2) funds. This is their prerogative as per the power invested in them via elections, governed under US governmental law. Simpletons (actor 3) who still had money in Russia did so of their own free will, likely a profit or tax evasion motive. The theft of that is under Russian governmental law. Does an act by the Russian regime (actor 2) in Russia under governmental law, create a private law obligation in the US, because the US government did something that's their prerogative under US governmental law? No it does not. Neither the actors nor the law fields have a direct relation. What actor 1 does to actor 2, has no direct bearing on what actor 2 does to 3: That's actor 2's fault. Unless you have a signed contract by the US state secretary saying 'We feel obligated to compensate you for you perpetrating tax fraud with Russian accounts, you voluntarily agree that you may sue us, we love US tax dollars going to the criminal underworld and the semi-criminal level of international business'. Simpletons sueing the US government for losing their tax defrauding Russian account should fail, should probably be marked as malicious litigants, and should be sanctioned in the legal sense. I've long argued to disbar lawyers who take on such meritless cases.

[@Tailsmillion]

The book segway is getting smoother every video Neat.

[@Tannhauser62]

Segue, baby. Segway is the two-sheeled thingie. 🙂

[@pamparumthewarrior5470]

bro,why u have same avatar pic?

[@Brian-----]

17:35 if the seizure does not in fact create bargaining leverage, and here it does not, you might as well impose the one time cost and seize.

[@Butmunch666]

You're literally calling for the west to destroy its own financial system. This would be legalized theft. Theres no other way around it. It is theft pure and simple.

[@F4Effort]

See, I've always had the notion that when someone's bank account and assets get "frozen", the owner basically writes off the account on the assumption that the money will be "confiscated" in a special banking operation by the government. This is interesting to hear being debated because it's exactly what I thought was already happening for years.

[@bluesraincancun9217]

Your channel is fantastic. Thanks.

[@Hasan-jf7by]

"It will change the invasion" ... -Yeah right! 😘

[@multipolarworldorder]

Many nations are selling their dollar bonds and buying gold or saving their currency like Japan and China.

[@johnbodman4504]

Yes that will continue to accelerate. The dollar is finished and every body knows it.

[@technokicksyourass]

@@johnbodman4504 What are you planning to transact in... gold bars? LOL!

[@jilbertb]

Um, China's broke. Evergrand's debt is equal to the US debt. Then there's Country Garden... 50% of China's manufacturing is down.

[@RedMike-ym8hd]

Many nations are selling their dollar bonds and buying other assets denominated in dollars. Or if they are selling their dollars to someone else, that someone else is buying dollarized assets. That's just how national accounts work, but I realize someone with the handle "multipolarworldorder" probably isn't interested in acknowledging that.

[@davidfoss4365]

I heard a real life story about a one time cost. A couple decages ago the New Orleans Police forces was threatening to go on strike shortly before Mardi Gras. That, off course created a mild panic (if there is such a thing). Then the police made the strategic mistake of actually going on strike. And the city got down to the job of what to do about the problem and the police lost all their leverage and public attention. As a proverb you might say; Leverage is like a hostage.

[@helge000]

Thank you William for giving me the opportunity to watch your videos.

[@mitchyoung93]

This money has already been written off by Russia and figured into financial analysts models. Seizing it will, however, provide a strong incentive for any entity not entirely 'pure' according to the EUs alleged 'values' to park its money elsewhere. Hello BRICs

[@jaypaige7550]

that's not true, putin is crying already about the money.

[@Merces69]

@@jaypaige7550 in what? NAFO stick rub fest?

[@DISASTERJOE]

@@jaypaige7550 wrong

[@0Coolrl0]

Yes, the beacon of stability that is South Africa would be a better place to park money, sure.

[@m1l3s27]

​@@Merces69You're trolling if you're acting like BRICS even means anything, let alone that nations that have money would ever invest that in the South African Rand or Indian Rupee over USD and Euros. And that line Russia crossed wasn't arbitrary, it was invading it's sovereign neighbor who that guaranteed they would not when signing the Budapest memorandum. Per that memorandum: Signatories are to "Refrain from the threat or use of force against the territorial integrity or political independence of the signatories to the memorandum..."

[@lusciouslemons]

Congrats on your publication 🎉

[@michaelpilos]

Thabk You William ❤

[@no.5924]

Good point

[@admiraltopaz49]

"special banking operation" i spat out my coffee lmao

[@injest1928]

For anyone struggling with the concept that the cost of war decreases for Russia if Ukraine gets frozen assets, you can think of it another way. Think of the unseized frozen assets as a benefit or incentive. Russia is incentivised to end the war to the tune of 300 billion dollars. Giving this to Ukraine removes Russias incentive to end the war. The greatest leverage is in threatening to give it to Ukraine but keeping it frozen to stay as an incentive to negotiate. A possible 3rd option I've not heard could be to keep the 300 billion dollars frozen but adjusting it to the rate of dollar inflation so the incentive or effective cost of war stays about the same for Russia, and then any increase in value of the assets beyond the rate of dollar inflation could be given to Ukraine.

[@davidgmillsatty1900]

Russia has seized a lot of western assets as well as western companies abandoned Russia when Russia was sanctioned.

[@draggy6544]

Russia doesnt really care they would be idiots to expect the money back after going so far

[@joanndeck4315]

Soooo you do realize there are 1000s of speeches online of Putin trying to initiate peace agreements and 1000s of American politicians screeching like insane banshees right? And you do realize that other world citizens watch ALL the worlds news and see the hypocrisy…and at least 75% of the world population don’t think America is as great as Americans think they are….you’re only 4.5% of the world citizens….extreme hubris you all have….more countries will want little to nothing to do with you all very soon….it’s already happening….

[@retrojames4226]

Cope harder 🤣

[@joanndeck4315]

Of course tube removed my comment 😅😅….no “standards” broken…stop fooling yourselves….lol

[@yvc9]

Stellar work and presentation ❤❤❤❤

[@woodequalsgood]

Haha no way! Putin pulling coins off a massive frozen piggy bank? The Willy Span Picture Cache just keeps on giving!

[@ButFirstHeLitItOnFire]

Here’s an Question: What would be better for Ukraine in the long run: ⚪️Donating ALL of the frozen money to Ukraine (give or take $300 Billion) in one huge lump sum, and thus saving their NATO Allies that much in donations for the next while, but potentially opening the door to a slew of nasty future complications? ⚪️OR Donating the totally of said sum’s collecting interest from since the day it was frozen, and continuing to do so until the day the war is concluded either way, giving Ukraine Less money up front BUT giving them a steady lifeline of money that could possibly eclipse the initial sum if the war drags on long enough anyway, without also opening the can of worms the first option would entail?

[@injest1928]

The first helps Ukraine reach total victory, the second helps with negotiating peace with Russia in a military stalemate.

[@ButFirstHeLitItOnFire]

@@injest1928 I have an idea that can help do both: Have Ukraine receive the accumulating side money, but ALSO throw in an additional 100 Million from the frozen assets themselves for every month of the war. This gives Ukraine a decent amount of money in the long term AND pokes Russia in the side every month with the knowledge that their own assets are slowly bleeding into Ukraine’s pockets to save them from the war said assets were supposed to fund, without going full overkill. It’d be like being forced to watch individual grains of sand from an hour glass fall… Drop Drop Drop, Drop Drop Drop.

[@yurilytviak9066]

The west has been way too unreliable to think they won’t renege on any ‘long term’ agreement …,Bird in hand and like that ….

[@yastyman]

@@injest1928 total victory over a nuclear state?

[@TimmyNigfartish]

@@injest1928 neither will result in Ukraine's victory. Ukraine doesn't have man power to fight Russia. Every Russian over the age of 18 has 2 year military experience, and tons of poorer rural folks to go join the military. Most Ukrainian men that are fighting right now are your ex plumbers and ex electricians in their 40s and 50s. They are fighting vs Russian 20 and 30 year olds.

[@Johanna_Check_My_Bio]

They break it, they pay it.

[@mc-lb9dk]

US broke it and stole it

[@Tantric1]

What about American governments pay Vietnam, Afghanistan, Iraq, Syria and many other countries. They owe trillions of dollars. Warmongering Hegemony

[@tony001212]

that's a ridiculous and short sighted take...what if they say " they took our 300 billion " now we'll break the equivalent to 900 billion and confiscate their assets as well, not funny, isn't it? but I doubt they are stupid enough to do that, posible consequences of duing this will be that the world will lose confidense in our financial system, hence the united state will become poorer as the world realize they don't need to use our fiat money.

[@AlmightyXI]

This is some pretty short-sighted logic. Edit: Didnt check the name, bad bot...

[@Xazamas]

This should've been the government response when a train carrying chemicals derailed and contaminated an entire town. The problem is that you could feasibly have a decade-long court battle over the exact amount of money that the railway company should pay for each plot of land.

[@bipolitthefighter2599]

Thank you for makeing these informational videos

[@MegaBanne]

China is collapsing right now. So hard to care about what China feels. Not that the question shouldn't be brought up, but focus should be on the rest of the world.

[@pastForgetting]

Interesting that Switzerland doesn't have a measurable amount of the Russian overseas sovereign wealth.

[@mcending98]

Yeah, also just googled it and I get figures from 7.5 to about 9 billion. That's probably not enough for switzerland to work with NATO on this. Sending the russian money to ukraine seems to just be a bad move for switzerland to make(stategically not morally bad)

[@AnthonyOMulligan-yv9cg]

They do, held in Chocolate Reserves

[@alinaanto]

Hehe, the money is hidden there - means you wouldn’t know how much it actually is or to whom it belongs.

[@chrystya]

They do, but they are hesitant to release it because they’re still worried about reparations from World War II. It’s time to get with the program and start living in THIS century, Switzerland

[@alanburke1893]

Too busy counting gold teeth in their vaults

[@rob2540]

Can you take a little every month the war goes on?

[@paulflocken2730]

That was his point about the synergy between ordinary everyday inflation and only seizing the interest. Doing it this way is somewhat parallel to seizing a little bit of the principle each month.

[@danielfatfingahs5649]

20:55 - where are you getting this line?

[@GrandLists-bc3gz]

In Russia you are obliged to call it a special banking operation

[@user-ko5ul7yi1x]

You want the "soviet empire" back? Sure, you can have it just like it was in the late 80s.

[@andersgrassman6583]

Weidly, Putin seems to think those times were great!?🤔

[@albertorodas6479]

BRICS, a golden opportunity!!!!!!!!!!!! Take it.

[@Grand-Rose]

They would, if not for the I-India. For all the financing of the war that India allegedly did by buying discounted Russian crude, it is STILL very very WARY of China. As was evident in the 2020 border clashes. If it would be, it would be more like a "Eurasian common currency" Russia+China+ASEAN.

[@deker0954]

BRICS was a mutual fund scam. Fidelity emerging crap holes.

[@martinsiloh704]

So the whole of Europe still using Russian roubles to buy some Russian gas aren't funding the war. Only india is. I can't wait for Europe and usa to seize and take the Russian funds. 85% of the people on earth in the global south will simply fall to the brics currency. In 50 years Europe will be like Africa and Africa will be like Europe. I used to think Europeans has foresight but you have elected the worse leaders who will take Europe to the third world. The global majority already have seen the hypocrisy of usa and Europe in Gaza Taiwan and Ukraine so BRICS currency backed with Gold and two world powers China and Russia backing it, since the west always want to be the school bully the school is beginning to turn on the bully and the seizure will fast forward it.

[@lalzgarra9493]

​@@Grand-Rose😂😂😂😂😂😂😂😂😂

[@dominuslogik484]

Ah yes, Brazil where machine gun fire into favelas is a common policing action, Russia whom is not a wealthy nation, India who dislikes China and doesn't trust Russia as well as not being interested in making enemies. China who will not tolerate any power being in the hands of people outside China and makes up around 77% of BRICS economy. Finally south Africa a literal failed state that can't maintain electricity or clean water utilities even in their own capital. What a powerful club of losers they are

[@Kyoshi23]

NATO could’ve done this like way earlier but chose not to because if seizing does ever happen, the consequences would be devastating to financial stability, security and eventual downfall of US dollar. Beside the weapons can be replaced but what can’t replace is Ukrainian manpower and without manpower you are doomed even if you receive $1 trillion

[@harleyb.birdwhisperer]

A calculation the Russians also need to make. Their demographics aren’t so hot.

[@capes8395]

​@@harleyb.birdwhisperer whatre you talking about? They have a massive garrison

[@lacasadelvideojuego3880]

@@harleyb.birdwhispererlol only like 3-4 times the population of Ukraine.

[@Grand-Rose]

they are NOT paying the entire 300 BILLION, Only the INTEREST on the 300 Billion.

[@Grand-Rose]

@@lacasadelvideojuego3880 USSR defeated the Third Reich in WW2 with only 3x the population and even then so by using literal meat shield stratergies

[@Khal_Rheg0]

Can't make any promises, but I'll make some time to read your papers! Thank you!

[@maxrivshin1050]

Author ignores the other side of the Balance Sheet. Western Investors have roughly $600 bln of Russian assets. Roughly 300 bln of that is Equities and Bonds while another half is private Debt and private Equity think of Oil megaprojects. It seems both sides have significant exposure, but Western frozen assets in Russia get hardly any coverage in the press. I used Brookings Institute stats would be curious if there is another source for the numbers.

[@AlanTheBeast100]

I'd call it a "special line of credit" - Special because it will never be paid back to Russia.

[@brankosavic632]

Doci ce tenkovi u evropu po novac

[@janitorizamped]

​@@brankosavic632lmao

[@Dommifax]

@@brankosavic632 but how will their production be financed?

[@gherkinisgreat]

​@@brankosavic632Got the money for ammo, spare parts, crew and fuel to use those magic tanks as anything other than target practice for NATO? Haha

[@AlanTheBeast100]

@@brankosavic632 Koplja će ruske tenkove pretvoriti u staro gvožđe. Opet. (Google translate used).

[@knightofavalon86]

300 BILLION dollars?! Ukraine might try to buy a Ford class carrier...

[@joek600]

Or some villas in coastal Italy

[@Just_another_Euro_dude]

​@@joek600Russians love that. But no more 😢. 😂😂😂😂😂

[@joek600]

@@Just_another_Euro_dude all the scum love nice villas, the point is on whose money they get it. Btw cutting the wings of the Russian oligarchs who had assets abroad and influenced local politics was a blessing for Russia. Now they are forced to invest their money at home and play nice

[@Ally-Oop]

Dude congrats on the paper!

[@pedigojimxx]

Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it. Take it.

[@nostro1940]

8:50 That's like suing opec for inflating the price of oil

[@ZontarDow]

People insist that foreign dictatorships will pull their investments if the rules of the law based order have their consequences for breaking those laws be things like this, but where are they going to put it? What alternative exists that isn't more likely to just outright steal it? It was put there in the first place for a reason.

[@alexdemoya2119]

These people say China, and to that: And you think the CCP wont seize it over something like their leader depicted as Winnie the Pooh?

[@Jeremy-WC]

The current thought is China backed but Indian run or something coming out of BRICS. I read that 70 foreign dictatorships buy US weapons so if enough go Russian, Chinese that probably would be the capital/buy in to create a new system.

[@ufosrus]

Just heard BRICS has it's own banking and currency.

[@jakubrogacz6829]

@@Jeremy-WC True west is not in best condition, mostly because of lack of decisive people with strong ethics, but even then would China even want to deal with Russia, or will they do their own special military operation in Siberia ( which they have more claim on then Russia on Ukraine ) ? No matter how you put it, Putin has basically went for MAD with Ukraine. Even if he brought all Russians to Ukraine, he'd be hard pressed to maintain order and he'd have to leave noone in Russia

[@Jeremy-WC]

@@jakubrogacz6829 Your reasons are why I doubt Russia plans to conquer all of Ukraine Perhaps everything to the Dnipro river and Odessa but they will want an area they can deport loyal Ukrainians to. Their goal will be to destroy the Ukraine army and force a surrender. Since joining Nato requires no territorial disputes whats left of Ukraine wont be able to join NATO meaning neutral territory. As for China and Russia don't expect a break in their alliance until the US loses the ability or will to project power in Asia.

[@leeahilljr6279]

Some don't see the big picture but they will.

[@derrickmoriarty7600]

207 b in Euro,67b US, 37b Pounds,36b Yen,19b Canadian,16b Australia,1 B SwF,1.8SSP, these are sovereign bonds, and current interest on the Euro 207b 5 billion are held for legal fees, Currently 107 billion have been nationalised in RF and ongoing.

[@pedropalotes7638]

You have forgotten one problem Mr Spaniel, the main part of that assets are in the EU and EU Comission and EU Parliament lawyers were too clear with Comission and Parliament, seize those assets would be illegal unless they declare war against Russia, and doubt they will do that, because if they do that EU would fall from within

[@shintaiden]

You really don’t get the EU do you? They do what they want, if they want that money they won’t let lawyers get in the way.

[@pedropalotes7638]

@@shintaiden no, they'll not because that would be a problem for our politicians, seems its you who don't get EU

[@UnKnown-xs7jt]

USA: we don’t steal 😂! Except when we dislike you

[@jdocean1]

Lousy example. Russia is breaking things. They will pay for it.

[@Lord_Cointoss]

​@@jdocean1And the USA paid for Iraq, Libya, Serbia, Vietnam, Korea, and so on!! No. Well, that means you are simple hypocritical Thieves!!

[@ala-th3ln]

@@jdocean1 True, Russia is the only superpower to ever invade another independent state. Oh wait...

[@ignaz-one7430]

Whataboutism is the dumbest thing ever. It's bad when the US does it, it's bad when Russia does it as well.

[@berylanjous6932]

I don’t think it makes any difference to whether they like you or not does it.

[@danielfatfingahs5649]

16:11 - where exactly did you get that? That was not the situation in January 2022.

[@Biga101011]

I feel that the leverage is more important, but the threat of sezure is the only thimgs that makes the leverage meaningful. I guess a bit of a catch 22.

[@Curmudgeon2]

I like Special Banking Operation......excellent...

[@sirsplintfastthepungent1373]

🍻

[@juandiegoramos4490]

Trillions of those green never to be repaid debt notes will lose automatically every sense of value once the theft is completed

[@MikeisaGoob]

Unless Ukraines manpower problems are addressed (which it wont because nobody is actually serious about putting boots on the ground) giving them another 300 billion in western arms that ukranians dont know how to use and need extensive training for wont help.