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Biden Administration Backs Legislation to Seize Frozen Russian Assets (www.bloomberg.com)
submitted 10 months ago by naturalgasbad@lemmy.ca to c/worldnews@lemmy.ml
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[-] disablist@lemdro.id 19 points 10 months ago* (last edited 10 months ago)

This is one of those actions that is completely understandable and an unambiguously moral decision, but the blowback has the potential to upened the entire post-WW2 American centric global financial order. Maybe for the better, maybe for the worse, I don't know, but it'll probably depend alot on what your vantage point is.

[-] Corkyskog@sh.itjust.works 1 points 10 months ago

Don't matter. If you have enough guns to wipe any complaint out, payment is more of a formality.

[-] disablist@lemdro.id 11 points 10 months ago* (last edited 10 months ago)

The blowback I'm referring to wouldn't be kinetic, it'd the loss of the monetary hegemony provided by American lead banking system and the USD being used as the global reserve currency.

[-] PanArab@lemmy.ml 12 points 10 months ago

The US would be shooting itself in the foot.

[-] PowerCrazy@lemmy.ml 6 points 10 months ago

Why only Russian Assets? There are probably a few $Trillion assets in tax-shelters within America's own borders. Charities, Churches and Foundations, and that's before you even get to shell companies and holding companies.

More then enough money to pay for literally anything, including paying down the federal deficit if you don't understand monetary policy and you feel like that is important for some reason.

[-] semperverus@lemmy.world 5 points 10 months ago

Because Russia is the one killing Ukrainian civilians and should be the first to pay reparations?

[-] PowerCrazy@lemmy.ml 5 points 10 months ago* (last edited 10 months ago)

I'm pretty sure executives at Lockheed, McKinsey, Honeywell, as well as the senators on the FISA court who authorize civilian targeted drone strikes also have foundations here in the US that we can and should draw reparations from as well.

Let's not forget the late Henry Kissinger as a board member for the National Endowment for Democracy or Kissinger and Associates Board, that should certainly be on the list too.

[-] semperverus@lemmy.world 1 points 10 months ago

You asked why we're going after Russia first. I gave you the literal answer.

[-] ook_the_librarian@lemmy.world 3 points 10 months ago* (last edited 10 months ago)

But your missing a step. You need a bill to make that illegal before you can support a bill for the government to seize it.

These are frozen Russian assests. There is an interloctary injunction on this money. That's why it is simpler to seize this money than to start seizing money from churches.

Edit: I'm sure as shit with you that we should start collecting money from churches, but this isn't that.

this post was submitted on 10 Jan 2024
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