Market Talk – July 26, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 202.10 points or -0.53% to 37,667.41 Shanghai increased 4.16 points or 0.14% to 2,890.90 Hang [...]
Macron and Biden Now Lying Russian Assets at Zelensky’s Feet
Macron and Biden do not represent their respective nations as they act in ways that are an utter detriment to national interests. The French and American leaders have agreed to surrender frozen Russian aid to Ukraine in the form of a loan.
The West confiscated around $280.9 billion from Russia, which Reuters believe generate up to 3.5 billion euros in annual profit. US Treasury Secretary Janet Yellen has been pleading to release these stolen funds to Ukraine.
“It is necessary and urgent for our coalition to find a way to unlock the value of these immobilized assets to support Ukraine’s continued resistance and long-term reconstruction,” Yellen claimed in February 2024, adding, “I believe there is a strong international law, economic, and moral case for moving forward. This would be a decisive response to Russia’s unprecedented threat to global stability.”
Talks are ongoing, but the US is prepared to service $50 billion of the forthcoming loan. The G7 nations (the UK, Italy, France, Canada, Germany, and Japan) are slated to support this move.
On the D-Day event this year, where Macron and Biden disrespected proud veterans by calling for a new global conflict, Biden apologized to Zelensky for withholding aid and blamed the conservatives. Need I remind you the NEOCONS are on both sides of the aisle?
Lindsey Graham said, “President Zelenskyy, he lit up like a Christmas tree,” when he suggested handing over frozen assets to Ukraine AND seizing additional Russian assets still in the US. “We have Russian money in America we should seize. We should make Russia a state sponsor of terrorism under U.S. law,” he also commented. Graham went as far as to say that the money the West stole from Russian citizens was actually Putin’s money, and he was the thief responsible for their loss.
State terrorism? Do we freeze the assets of any nation acting in a way that displeases the US? Should we sanction China as well for Taiwan? The Chinese are certainly wondering if that is what is to come, and they have long stopped buying US debt. It is as if the United States just detonated an economic nuke on itself.
Russia has repeatedly stated that it would consider misusing these assets, which were illegally confiscated in the first place, an act of war. Putin has been rather patient in allowing these funds to sit idle. The G7 is declaring this a LOAN, meaning they feel entitled to these stolen assets. They know that Ukraine does not have the ability to repay this “loan,” and as we have seen countless times, no amount will ever be sufficient for Zelensky. This move may be the catalyst that sets the stage for the next portion of this growing global conflict.
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