RUSSIA: TWO CAN PLAY THE SEIZING ASSETS GAME

Well, chalk this one up in the "I told you so" column. I've been warning for some time that every trick that the West uses to provoke Russia will, eventually, come back on itself and be repaid in kind: place sanctions on us, and we'll place sanctions on you; seize our assets, and we'll seize yours; try to overturn our government or drop drones on our leaders or otherwise assassinate them, and we'll... well, we're not quite there, yet (or are we? Come to think of it, where is der Hochklaus lately?)  but at least as far as the seizing the assets game goes, Russia has just sent another clear and unmistakable message, according to this story shared by E.G. (again, as always, with our thanks):

Russia To Seize $440 Million From JPMorgan

Now, obviously, a mere $440 million is a drop in the bucket compared to the much larger amounts of Russian assets seized by the USSA, which assets the USSA is threatening to send to the Ukraine, where, of course, they will disappear and be laundered all over the place; to extend Catherin Austin Fitts's observations that the US Federal Goobernment is being run as a criminal organization, it has opened a franchise in the Ukraine. But in case you missed it, there is a full scale litigation and sanctions war occurring behind the scenes:

In response, VTB last week filed a lawsuit against the New York-based group to get Russian authorities to freeze the equivalent amount in Russia, warning that JPMorgan was seeking to leave Russia and would refuse to pay any compensation.

The following day, JPMorgan filed its own lawsuit against the Russian lender in a US court to prevent a seizure of its assets, arguing that it had no way to reclaim VTB’s stranded US funds to compensate its own potential losses from the Russian lawsuit.

Yesterday's decision sided with VTB, ordering the seizure of funds in JPMorgan’s Russian accounts and “movable and immovable property,” including its stake of a Russian subsidiary.

JPMorgan said it faced "certain and irreparable harm" from VTB’s efforts, exposed to a nearly half-billion-dollar loss, for merely abiding by U.S. sanctions.

The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests. Last summer, a Russian court froze about $36mn worth of assets owned by Goldman following a lawsuit by state-owned bank Otkritie. A few months later the court ruled that the Wall Street investment bank had to pay the funds to Otkritie.

I suspect there is a message, and a lesson here. The lesson is an easy one: in any contest between highly financialized economies, and economies with real manufacturing as their basis, the latter will always win, because it has something that it actually produces, besides fancy engraved paper securities and other instruments (or, to be honest, they've dispensed even with the fancy-looking pieces of paper, and now give you blips on a computer screen, while the non-financialized economies are producing the satellites that can erase those blips... permanently).

The message is a much more subtle though obvious one: no one likes being bullied and told how it must behave, especially when the bully does not abide by his own rules. Who can trade, or even want to trade, with a partner that keeps moving the goal posts, and has nothing to offer you but tanks, bullets, and bombs. If you comply, you may get an inexhaustible supply of tanks, bombs, and bullets to wage a proxy war against those who don't. If you don't comply, you get sanctioned, and get your tanks, bombs, and bullets delivered in much less pleasant ways. Who wants to do business with such a "partner" and "ally", especially one whose entire national history has literally been one of almost constant warfare?

What does this translate to?

A few years ago I watched and blogged with some fascination as first Germany, and then Austria, the Netherlands, and Venezuela sought to repatriate their gold reserves held in trust by the USA (or Paris or London) to their own countries. In Germany's case, some of the sought goald was repatriated, but then a controversy emerged over how much had actually been delivered, and more importantly, what its assay quality was.  In Venezuela's case, the Bank of England simply flatly refused to repatriate that country's gold for the simple and blunt reason that it didn't like the current Venezuelan socialist regime. "We don't like you, therefore your assets are forfeit." Sound familiar?

At the time, I suspected that the reasons for all this gold repatriation were crystal clear: countries were beginning to realize that the USSA was a rogue nation, completely out of control and unwilling to obey its own "rules based international order."

Well, gold repatriation is back, and this time the African nations are leading the charge (story courtesy of B.W., with our thanks):

Ghana’s strategic gold repatriation from US: Safeguarding against economic volatility

One wonders just how much "economic volatility" is a euphemism for American hypocrisy and rogue behavior? I suspect a lot. And by the way, since 2024 began just four short months ago, Ghana has been joined in this action by Egypt, South Africa, Nigeria,  Cameroon, Senegal, Algeria, and Saudi Arabia.

Perhaps the word got out, quietly of course, that the gold bars that Germany got back were less than assay quality... or maybe were salted with a tungsten interior...or two, or three, or many. Perhaps, if "notes are compared" we might see several countries repatriating gold, and then pointing some very accusatory fingers in a particular direction.

Perhaps.... that, admittedly, is a very high octane scenario.

And a word of caution: the Bank of International Swag  Settlements would like nothing more than to become the reserve bullion bank of the world... don't fall for it.

See you on the flip side...

 

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

No Comments

  1. Nidster - on May 3, 2024 at 2:10 am

    The Russians planned well ahead for international sanctions years before its strategic military actions in the Ukraine, as did other countries in the BRICS alliance. Anyone of those countries with even an ounce of common sense knew the facts regarding the ‘ Alice in Wonderland story’ with regard to the ‘cough, cough’ gold reserves held by the Western Alliance.



  2. anakephalaiosis on April 29, 2024 at 10:07 am

    Crimean renaissance is a time machine, that allows Doctor Who, to return to Asgard, which undermines ClA rubbing shoulders, with the Labour party in Norway.

    In Scandinavia, the Scythian toast is still at large, because “skál” (cheers) is still a greeting, with reference, to toasting cranial cavity (skull), when brew is flowing.

    It is a popular myth, that tourist Vikings are fetched, by Valkyries, and brought to Valhalla, in Asgard, where wine flows, from Noah’s Ark (barrel) in Crimea.

    Fallen Samaria rose in Crimea, and thus Elijah’s Odin mulls his drinking, at the brook, on raven wings, while peeing on the pope.



  3. Barbara on April 29, 2024 at 9:24 am

    Few snippets from Polish gold market.
    Current Polish gov. is sold-out to German interests in a country. “Gerries” are desperate to introduce euro to biggest Cental European market. Poles are resisting with the simple statement of J. Kaczynski leader of largest political party PIS with a clear message “Polish gold will never end up in Frankfurt vaults.”



  4. Bizantura on April 29, 2024 at 4:47 am

    “(or, to be honest, they’ve dispensed even with the fancy-looking pieces of paper, and now give you blips on a computer screen, while the non-financialized economies are producing the satellites that can erase those blips… permanently)”
    Lets hope for Americans/Europeans it stays that way. They might use other hardware to reproduce Atlantis like problems. The world must be fed up with the likes of our Western demented leaders!



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