Feds protected russia and defied

[I_UndergroundPanther]

Sanctions by making sure russia didnt default on its debt. In other words the fed broke sanctions to blunt the impact of sanctions imposed by Biden.. WTF!

This story needs bigger legs,MSNBC you listening?


https://www.cnn.com/2022/03/16/investing/russian-debt-payments/index.html


Suprising the amount of republicans in the fed.

https://www.govexec.com/oversight/2015/08/there-are-more-republicans-federal-government-you-might-think/119138/

[Demsrule86]

1. The funds are frozen...

[I_UndergroundPanther]

2. Either way they are undermining the sanctions

They should have been allowed to default. That is one result sanctions have and they saved russias ass.

[Phoenix61]

10. They saved who ever is getting the payments ass.

I have no problem with some foreign debts getting paid. Heck, pay them in full and empty the account. The only pain Russia would feel from defaulting is the loss of future investments which won’t happen with the sanctions in places. When/if they are lifted I’m not sure who would want to invest in Russia with Putin in charge. Their economy is toast for decades.

[Demsrule86]

12. There is a 30 day grace period which is how it works...so delete this OP as it is misleading and it

was paid with frozen assets thus the clock is ticking...

[Karadeniz]

3. No, no....isn't the idea of sanctions to cause discomfort? This is weasley.

[highplainsdem]

4. Please see my reply in a thread about this yesterday:

https://democraticunderground.com/?com=view_post&forum=1002&pid=16492737

[I_UndergroundPanther]

7. I clicked your link and got lots of ads

Asking for a subscrption

[highplainsdem]

14. The tweet I linked to, like the second paragraph of the article,

explains that this drains more of Russia's scarce foreign exchange reserves.

[revmclaren]

5. This again?

See highplainsdem post 4 and link.

[brooklynite]

6. Do you imagine that a decision this significant was made without Yellin's approval?

[I_UndergroundPanther]

8. I dont know

Either way the feds have a shitload of republicans in it and I dont trust any republicans.

[mobeau69]

9. There's a 30 day grace period then the default occurs.

Nothing to get freaked out about. Default is just a matter of time. April 15th I believe.

[I_UndergroundPanther]

11. Ok.

But if that money is unfrozen at any time during this war.. still frozen can be worked around,hello..china?

Either way this bothers me.

[mobeau69]

13. It's just the way it is. They're still fucked.

[I_UndergroundPanther]

16. Good

If the brutal war against Ukraine is still going on by april 15th..

Dont let them pay thier debts period.

[Demsrule86]

15. That doesn't make sense.

[mobeau69]

20. They had some dollars, at least 117 million, they sent to the bank.

https://www.cnbc.com/amp/2022/03/17/russia-claims-to-have-ordered-payment-as-it-seeks-to-avoid-historic-debt-default.html

[Igel]

18. How do you account for one line in the article?

"A spokesman for the Treasury said the United States would allow the payments to go through."

If the account's frozen, then the payment very much would *not* to through.

Who makes sure the account's frozen?

The Treasury.

No default is my guess.

[Demsrule86]

19. The payment will bounce.

[Jacson6]

17. A Default Could lead to a world wide monetary collapse.

All of the nations of the world are tied together by bonds and international banking.

[FakeNoose]

21. The Magnitzky Act (oligarch sanctions) passed in 2012 under Obama

As soon as Chump came into office, he removed those sanctions or at least some of them. Am I right? If the Magnitzky sanctions had stayed in effect all this time, I don't think the Federal Reserve would have been involved.

It was Chump coming in and removing the sanctions that set this in motion. I'm not an expert and I could be wrong. If I am, somebody please let me know and I'll delete this.

I learned about the US involvement with the Magnitzky Act from Bill Browder's book "Red Menace." Highly recommended if you want to learn how Russia turned to the dark side in the early/mid-90's.

[I_UndergroundPanther]

22. Thanks

Figures this bullshit has trumps greasy kfc encrusted with hamberder juice drpping off them slimy diaper scented fingerprints on this.