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Bloomberg: Russia Can ’Out-Sanction’ The Transatlantic Banks
11 March 2014
(LPAC)—Bloomberg reported on March 7, "Anti-Russia Sanctions Would Backfire against West," comparing the assets of Russian banks and individuals in western banks, with those of Western banks in Russia. The comparison showed Russian sanctions (asset seizures) can hit harder than NATO’s. "Russian entities, including individuals and companies, had assets of about $160 billion in foreign banks as of September 2013," Bloomberg noted, "according to data from 44 countries that report to the Bank for International Settlements.... "Unfortunately, the Russians could respond by reneging on their obligations to foreign banks — a danger one Kremlin aide [Sergei Glazyev] specifically addressed earlier this week. Banks’ exposure to Russia stood at $242 billion in September 2013, according to separate BIS data that include 24 reporting countries." So a Russia "bail-in" of European assets would be 50% bigger than a European "bail-in" of Russian assets. Bloomberg concludes, "The result is that U.S. and European banks would be among the most affected by financial sanctions against Russia." Senior Diplomatic, Military Figures Ask, "Is Obama Simply Insane?" Ambassador Chas Freeman, founder of the Middle East Policy Council and a former member of the Obama Administration Defense Department, sent a message headed, "Is Obama Just Insane?", to his very large Washington, D.C. list of Citizens for a Free Republic. Though written by an associate, it will have the impact of a comment coming from Ambassador Freeman. The message reads in part: "I have NEVER in my entire life witnessed such BRAIN-DEAD decisions coming from the Obama Administration in any government in the world or former administrations. To impose sanctions on Russia is absolutely INSANE!!!! That puts Putin in a box that he cannot escape from for if he relaxes he is then seen as weak at home and the hardliners will eat him alive. Obama has just made the crisis far worse. "Russia has retorted and it will now CANCEL all nuclear treaties. It can shut off the energy to Europe and watch them crawl. Now, any international observers will NEVER get into Crimea. We have dumb and dumber at the helm here. Obama is doing EVERYTHING perfectly wrong and this escalation will only grow far worse. Even China has rejected Obama’s Sanctions. Just what did he expect? Putin will suddenly say, gee, I was wrong? Come on. This is like some stupid fight with his wife and I refuse to talk until you do what I say.... "Sorry this is no way to run a government. You cannot humiliate Putin and actually expect progress this is inviting war. You cannot defeat China & Russia. So what is anyone trying to accomplish here? Freedom and Liberty for All?" In a meeting on the crisis, a senior retired military contact of EIR stressed that the United States has no strategic interest in Ukraine and no treaty obligations; Russia, on the other hand, has both. Plan for all contingencies but keep this classified and seek diplomatic exit. But Obama has harbored a personal hatred of Putin since 2009. It is dangerous and childish. |