Yellen Says Stealing Russian Assets Isn't Theft... Riiight
The G7 Decision, 'Generating Income for the Institution,' and Treasury Secretary's Orwellian Doublespeak (That Should Send Chills Down Everyone's Spine)
I've been tied up these past few days sorting out a new issue for our paid subscribers and planning our getaway to Argentina/Uruguay, so I haven't had much time for writing or research otherwise. But something just popped up that I really want to share with you because I think it's a big deal.
But first, a bit of background...
Last week, the G7, known as the global economic big boys' club with members including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, held a three-day meeting. It was during the session on June 14 that they decided to effectively seize assets of the Russian Central Bank. The idea is to use the interest generated by these assets (~$300 billion) to pay the annual interest on the $50 billion loan for Ukraine, which was also agreed upon in the meeting.
I’ve emphasized the word "loan" here so that nobody gets the wrong idea: this cash isn't just being handed over to Ukraine. It's a loan that will saddle the already penniless Ukrainians with debt for generations to come.
Alright, back to the G7 decision to take Moscow’s funds... However you feel about what’s happening across the pond in Eastern Europe, one thing is crystal clear: this is a seizure of sovereign assets. Call it theft, call it appropriation, call it what you will, but let's not pretend it's anything else.
But that’s not how Treasury Secretary Janet Yellen sees it.
The video excerpt below is from her interview with ABC News over the weekend, and it’s been going absolutely viral. It's very short, about 30 seconds long. But be advised, you may need a couple of rewatches. I certainly did because I literally could not believe what I heard. Just take a look – I know you may not believe it if I just transcribe it.
Now, if you think her monotone delivery didn't help, here's also the actual quote:
Janet Yellen: Well, there is no sense at all in which it's theft. The Russian assets remain in this institution. They've been impounded. The investments that Russia had have matured. So Russia's funds are sitting in cash, but they're generating income for the institution, which Russia has no claim on. So there's no legal issue here.
So, she's basically saying that theft isn't actually theft. Because, as she put it, "the assets generated income for the institution."
Ah, yes, a classic example of Orwellian doublespeak — describing something as the opposite of what it truly is.
But think about what this actually means.
The U.S. Treasury Secretary is suggesting that in our supposedly rule-of-law Western world, the interest earned on your savings account is not actually yours. Any investment or savings held in a bank simply generates profit for them, not for you. So, by that reasoning, taking that money from you isn’t really a problem either because it was never yours to start with.
Sounds far-fetched? Not according to Yellen.
Could this happen to regular folks like you and me? Who knows (probably, at some point). But it’s a stark reminder to think twice about where you put your hard-earned money. Because maybe, just maybe, it’s all just "generating income for the institution," which you never really had a “claim on” in the first place.
Regards,
Lau Vegys
Thank you, Doug, and Lau, for posting this. It's right on, and is in perfect agreement with my comments on my post yesterday, which drew quite a bit from Doug Casey's essays.
If you're interested, check out https://alchristie.substack.com/p/the-dollars-demise
Part 2 of 2
The biggest risk awaits the U.S homeland, yet virtually no one, typically talks about it, warns you, nope when the Tsunami of USD’s return are returned the U.S from disaffected and disillusioned holders of USD anarchy, social unrest on unprecedented levels will result… it’s not the USD$34.5Trillion and counting the problem, but the more than USD$81Trillion off balance Sheet USD Debt that is the real problem little of which is noted as mark to market, hence its phantom yet the impact of this added the above $34.5 Trillion of debt 60+% now held domestically in the U.S for a total equating some $124.5 Trillions of real debt that is problematic upon which you can also add the Debt owed by States, Municipalities, Departments able under Statute to raise Debt, oh nearly forgot that’s not including the maxed out USD$1.0 Trillions Credit Card Debt, a debt that lack of liquidity will bring to a sudden end, the Commercial and Private Domestic Property Debt, Auto Loans, Personal Debt and as Warren Buffet constantly opines …. correctly reminds those who’ll listen, the elephant in the room being the USD$700QUADRILLION of Derivatives gambled that need to be unwound, being as Buffet states, the equivalent of fiscal Armageddon waiting to go off… in short, the U.S fiat paper money non gold backed currency is imploding, it’s only a matter of time…
China led Russia in particular know this, are planning the take down of the U.S led fiat monetary system, a system the U.S had been privileged to control, bestowed upon them by virtue of the nations currency being accepted as the globes Reserve Currency, but which has been systematically abused, the over use of sanctions, weaponising the currency, causing penury and economic misery, for so many nations, countless deaths of so many innocent souls, all due an out of control self entitled elite, now loathed and despised… certainly couldn’t happen to a nicer bunch of sociopathic fools… need blame, look in the mirror, this has been done by yourselves… as Putin so adroitly stated … correctly it seems.
Russia and China together their BRICS+ compatriots holding a large percentage of the World Gold Reserves now held in Central Banks, it is threat that fuels the U.S led NATO response in Ukraine, literally the Western Financial World is at War, the upstarts to what they consider is their throne… their, Western elites, rightful place, unsure? Recall Saddam Hussein announcing 2000 he was to accept €E.U’s for payment Iraqi oil, bypassing the USD and was to create a gold backed Iraqi Dinar, fatal pronouncement as it turned out, we know how that ended, then there was Libya’s Gaddafi, who likewise announced he’d had a guts full of using the French Central banks insistence he continue using French backed currency as the Libyan fiscal mainstay insisting instead he would create a gold backed Libyan Pound, that he proposed introducing throughout Africa, that did not sit well the French and U.S at the time who both would lose as a result, recall 3% of every transaction on either side, is received the U.S as commission buying USD to facilitate trading on both sides of a transaction in the then mandated USD…. Global reserve currency… again we know how that ended for Gaddafi and family… thus Gaddafi and Hussein were “offed” WMD’s be damned a convenient excuse… however Russia and China are both different, much bigger and both are nuclear armed … that hasn’t seemed to stop these elitist psychopaths threatening military intervention against both nations… the threats escalated to nuclear…
Putin said it best, not one to be threatened…. The vampire Ball is over, with bellies full of human flesh and pockets full of stolen money VVPutin 2024 … seems so prescient, he obviously knows more about what’s going on… what’s to come for the rapacious Western Vampires, certainly seems to be so apt..
Lastly a great quote that summarises as noted literally our world the last 3+ decades from the Twin Towers, Iraq, Libya, Sudan, Afghanistan, Syria, Ukraine and all places in between destroyed by Western lies, hubris, obfuscation, bellicose rhetoric and actions… the many deaths, regime changes, coups, illegal wars to name a few that the World has witnessed U.S exceptionalism foment over this period, just more of the many 84 regime changes and coups the U.S has orchestrated since ousting the Hawaiian Royals the 1890’s on behalf of the Dole Family, through the Maidan coup Ukraine 2014, Shinzo Abes recent assassination, Imrahn Kahns 2022 ouster and attempted assassination, Slovakias P.M, Robert FICO’s most recent attempted assassination, the recent Hong Kong and Georgia civil unrest as well as many more going back to 1890 Hawaii and orchestrated the U.S OSS superseded the CIA in concert CIA offshoot the currently Samantha Power US Aide, Soros foundation, the plethora of NGO’s, Think Tamks and the many ubiquitous foundations that now proliferate, however none are so odious as U.S Aide and the CIA with their SAC and SOG paramilitary operatives riding shotgun… its despicable and needs stop, throw in the more than 206 known Wars, conflicts, uprisings including genocide against your own Indians that former President Jimmy Carter confirmed the U.S had participated in for the period 1776 through 2014 when he made the statement and that number of 206 has been superseded given so many more events we know the U.S has instigated since 2014, Ukraine but just one of many… add them up, the number is terrifying, yet China and Russia are your biggest threat….
Nope, it’s your out of control government and permanent management class, they who have postioned themselves as being entitled that is the threat, the real threat.. the world though has awakened, tired of the bellicose behaviour, the vitriol, denigrating rhetoric that is so belligerent, offensive that enough is enough…
My advice, prepare, as we read often in scripture, the end is coming, is nigh.. hearken to the warning, or you will suffer, the average American need not if they prepare, I love American people, am saddened by the decline I’ve witnessed my many trips up to the states, the homeless, l helplessness, loss of the get up and get it done attitude, the dumbing down of the nation, the lack of ability to think, a trait fast disappearing, your constant diet of fear mongering on your screens, I cannot watch that rubbish any longer, tuning out years ago..
Many an occasion together at times with family I have travelled the States, nearly every State Capital, nearly every major metropolis, criss crossed the nation so many times, have met so many wonderful, warm, kind, polite, friendly and just bloody great people despair for what’s coming at you all.. hence my warning to prepare…
Someone better than I summarised the present, his present long ago, still however so very applicable, more so me thinks today more than ever… this I’ll leave you with…. this, think of it every time you hear the idiots on your screen instilling fear into you…. it’ll help you maintain your sanity…
"We know that they are lying, they know that they are lying, they even know that we know they are lying, we also know that they know we know they are lying too, they of course know that we certainly know they know we know they are lying too as well, but they are still lying. Aleksandr Solzhenitsyn: "… Next time you read or hear anything on or in Mainstream Media think of the above… of this Redacted report…
Kia Kaha from the Antipodes…. New Zealand