Russia and economic war by the west

kvs wrote:https://thecradle.co/Article/columns/7975

Another worthy read from Pepe Escobar.

On the subject of the "half" or Russia's CBR reserves being blocked it was claimed by monetarist stooge Siluanov.   If it
is true the Nabiullina and Siluanov need to see jail time.   In any case their monetarist faction has destroyed itself.   No
amount of hand waving and "theorizing" is going to excuse their treachery.  

If any physical gold is outside Russia, then the death penalty needs to be returned.   But even if it is Euros, Russia could
have kept them in Chinese banks.

"need" and "will" are two different things. Do we have news of even any repercussions that nabiullina and siluanov will recieve? Now that the russian economy is isolated from the west, why are nabiullina still in power? Who has the power to punish putin for imprisoning them?

kvs wrote:https://thecradle.co/Article/columns/7975

Another worthy read from Pepe Escobar.

On the subject of the "half" or Russia's CBR reserves being blocked it was claimed by monetarist stooge Siluanov.   If it
is true, then Nabiullina and Siluanov need to see jail time.   In any case their monetarist faction has destroyed itself.   No
amount of hand waving and "theorizing" is going to excuse their treachery.  

If any physical gold is outside Russia, then the death penalty needs to be returned.   But even if it is Euros, Russia could
have kept them in Chinese banks.

In case of gold it is pure neglience. Majority of CBR monetary reserves are IOUs from other central banks. They could have returned part of them before, but they would never withdraw all. Especially with ECB, as a lot of trade was done with EU as a biggest trade partner.

All the physical Gold is in Russia (Moscow, St. Petersburg and Yekaterinburg). Only the virtual Gold futures/obligations and such stuff has been "blocked" by the west. Like the treasuries in Euros. You could also say that the EU has defaulted on her debt to Russia.

If you think about it the EU confiscated 1 year of sales from Russia to the EU. If you saved at 10% a year that is a decade of savings they confiscated.
I think Russia certainly has the right to arrest EU assets in Russia as reprisal.

lancelot wrote:If you think about it the EU confiscated 1 year of sales from Russia to the EU. If you saved at 10% a year that is a decade of savings they confiscated.
I think Russia certainly has the right to arrest EU assets in Russia as reprisal.

Those assets are already being repatriated as we speak. Fire sales will go on for these assets and local business people will be the big winners there.

As Alexander Mercouris said, foreign businesses in Russia were there to sell to Russians and take the money westward. There isn't much of a gain for Russia honestly as they were the market to begin with.

First time I have seen this potential problem, a shortage of diesel, talked about. Ripped from MoA.


Naked Capitalism warns, that the world is facing a critical diesel shortage:

"...diesel fuel stocks in Europe are at their lowest since 2008, and 8 percent—or 35 million barrels—lower than the five-year average for this time of the year.

In the United States, the situation is graver still. There, diesel fuel inventories are 21 percent lower than the pre-pandemic five-year seasonal average, which translates into 30 million barrels. [- -]

What is perhaps worse, however, is that over the past 12 months, the combined diesel fuel inventories in the U.S., Europe, and Singapore, have shed a combined 110 million barrels that have yet to be replaced, Kemp noted.

On top of all this, Russia is a major supplier of diesel, meaning Western sanctions for its invasion of Ukraine are affecting these supplies too. With the market increasingly tight, Shell and BP have shied away from offering any diesel fuel cargos on the German market for two weeks, Reuters reported last week, for fear of shortages.

In the UK, meanwhile, the Daily Mail cited analysts as warning that the government may need to resort to diesel fuel rationing from next month because of the state of the market and the ban on Russian oil imports, which include diesel fuel. Russia supplied a third of the UK’s imported diesel before the ban.

“Risks of energy rationing and ultimately a recession are growing by the day – something most policymakers seem to be ignoring or not grasping right now."

https://www.nakedcapitalism.com/2022/03/the-world-is-facing-a-critical-diesel-shortage.html

Posted by: Mikkael | Mar 16 2022 16:01 utc | 25

Putin: Confidence in the US dollar as a reserve currency has been hit, 16.03.2022.

Many countries are converting their reserves into various commodities, gold, raw materials, which will increase the shortage in the markets, Russian President Vladimir Putin said.

“A serious blow has been dealt to the entire global economy and trade, to confidence in the US dollar as the main reserve currency,” he said at a meeting on measures of socio-economic support for Russian regions, TASS reports.

According to him, "illegitimate actions to freeze part of the foreign exchange reserves of the Bank of Russia draw a line under the reliability of the so-called first-class assets."

“In fact, both the US and the EU have declared a real default on their obligations to Russia. Now everyone knows that financial reserves can simply be stolen, and seeing this, many countries can start, I am sure this will happen, in the near future, convert their paper and digital savings into real reserves in the form of commodities, land, food , gold, and other real assets, which will only increase the deficit in these markets,” Putin stressed.

According to him, "the imposition of sanctions is a logical continuation, a concentrated expression of the irresponsible, short-sighted policy of governments, US central banks and EU countries."

“It was they who, in recent years, with their own hands dispersed the spiral of world inflation, with their actions led to an increase in global poverty and inequality, to new flows of refugees around the world. The question arises who is now responsible for the millions of starvation deaths in the world's poorest countries due to the growing food shortage," Putin stressed.

Current events draw a line under the global dominance of Western countries in politics and economics, Putin said.

The head of the Russian state also stressed that the US and its supporters' obsession with sanctions is not shared by countries where more than half of the world's population lives.

The President noted that Russian financial companies, large enterprises, small and medium-sized businesses are facing unprecedented pressure. Thus, the banking system was the first to be hit by sanctions, but Russian banks coped with this challenge.

The head of state continued that the second wave of sanctions was intended to provoke a panic in the trade sector. The President expressed gratitude to the business community of Russia, the labor collectives of companies, banks and organizations that not only effectively respond to the sanctions challenge, but also lay the foundation for the further sustainable development of the country's economy.

Last Tuesday, US President Joe Biden announced a ban on the import of Russian oil and gas into the US. After that, the price of gasoline in a number of states approached seven dollars a gallon. Delaware Senator Chris Koons predicted the beginning of a global energy crisis due to the US authorities' ban on buying energy resources from Russia.

https://vz.ru/news/2022/3/16/1148927.html

JohninMK wrote:First time I have seen this potential problem, a shortage of diesel, talked about. Ripped from MoA.


Naked Capitalism warns, that the world is facing a critical diesel shortage:

"...diesel fuel stocks in Europe are at their lowest since 2008, and 8 percent—or 35 million barrels—lower than the five-year average for this time of the year.

In the United States, the situation is graver still. There, diesel fuel inventories are 21 percent lower than the pre-pandemic five-year seasonal average, which translates into 30 million barrels. [- -]

What is perhaps worse, however, is that over the past 12 months, the combined diesel fuel inventories in the U.S., Europe, and Singapore, have shed a combined 110 million barrels that have yet to be replaced, Kemp noted.

On top of all this, Russia is a major supplier of diesel, meaning Western sanctions for its invasion of Ukraine are affecting these supplies too. With the market increasingly tight, Shell and BP have shied away from offering any diesel fuel cargos on the German market for two weeks, Reuters reported last week, for fear of shortages.

In the UK, meanwhile, the Daily Mail cited analysts as warning that the government may need to resort to diesel fuel rationing from next month because of the state of the market and the ban on Russian oil imports, which include diesel fuel. Russia supplied a third of the UK’s imported diesel before the ban.

“Risks of energy rationing and ultimately a recession are growing by the day – something most policymakers seem to be ignoring or not grasping right now."

https://www.nakedcapitalism.com/2022/03/the-world-is-facing-a-critical-diesel-shortage.html

Posted by: Mikkael | Mar 16 2022 16:01 utc | 25

But the Russian Army is runnig out of fuel, according to western "experts".

Desperate west. Need cash urgently, offer yacht.

There will be shortages in both diesel and aviation gas aka kerosene in the West.
Why do you think the US scrambled to kiss the ass of both Iran and Venezuela?

And even if they ramp up fracking in the US the fuel that it produces is no good as a replacement for the heavier hydrocarbons like those.
And that is just to cover US demand where Russian oil was 3% of imports. Imagine trying to replace it in Europe. Which imports way more Russian oil products and has a much larger diesel vehicle fleet than the US.

I still remember EUrocrats claiming Russian refineries would stop without EU sales of catalyst. Well like two days ago Rosneft announced they already started using Russian produced catalyst in some of their refineries.

Россграм incoming.

https://rossgram.ru/

Hole wrote:Desperate west. Need cash urgently, offer yacht.

Will be funny for German shipyard looking future rich russians buying their yacht from Chinese shipyards and french riviera not being able to sell its expensive villas anymore...

PhSt wrote:

rigoletto wrote:Россграм incoming.

https://rossgram.ru/

Any chance there will be an international (English) version?

No idea. I suppose they are bringing it up in a hurry to later address the details.

Apparently, in a first moment just some "first class" instagramers will get into it (kind of invited) to later open to everyone.

rigoletto wrote:

PhSt wrote:

rigoletto wrote:Россграм incoming.

https://rossgram.ru/

Any chance there will be an international (English) version?

No idea. I suppose they are bringing it up in a hurry to later address the details.

Apparently, in a first moment just some "first class" instagramers will get into it (kind of invited) to later open to everyone.

hopefully there will be some kind of reward and sponsor system to allow people to earn from it.

kvs wrote:https://thecradle.co/Article/columns/7975

Another worthy read from Pepe Escobar.

On the subject of the "half" or Russia's CBR reserves being blocked it was claimed by monetarist stooge Siluanov.   If it
is true, then Nabiullina and Siluanov need to see jail time.   In any case their monetarist faction has destroyed itself.   No
amount of hand waving and "theorizing" is going to excuse their treachery.  

If any physical gold is outside Russia, then the death penalty needs to be returned.   But even if it is Euros, Russia could
have kept them in Chinese banks.

Alexander Mercouris on the Duran talks about his, he says that Pepe Esobar got it a little wrong on this subject.

All of the physical Russian gold is in Russia, central banks need to keep some of it reserves in foreign banks in order to function.

miketheterrible wrote:

rigoletto wrote:

PhSt wrote:

rigoletto wrote:Россграм incoming.

https://rossgram.ru/

Any chance there will be an international (English) version?

No idea. I suppose they are bringing it up in a hurry to later address the details.

Apparently, in a first moment just some "first class" instagramers will get into it (kind of invited) to later open to everyone.

hopefully there will be some kind of reward and sponsor system to allow people to earn from it.

Sponsors?

Hmm the Instahoes of Dubai aka "portapotty".
I don't think the loss of Instahoe-gram is really a big loss to Russia.

I remember in England there was this tv programme about "young entrepreneurs in digital media".
Anyway, they reckoned one 25 yr old had made "millions of Pounds from false eyelashes" etc.
However, it was pretty obvious she was a ho... and the newspapers busted her a few months later.

The sad part is that lots of girls would have believed the BS that she was a "serious businesswoman" and burnt a lot of time and money trying to emulate her.
The TV programme should have just said "and this one makes money from having Arab sheiks shit on her".