To begin with, the name of the bill the House passed was deeply misleading propaganda. Peace through Strength is not what we should think of for a bill designed to trigger expropriation and global banking disputes. In fact, this is a severe misapplication of Reagan’s philosophy where Peace through Strength reflected our strong military to ensure peace by backing down foreign nations. Repossessions do not show strength – quite the opposite.
What we see here is simply a takings policy that will reduce the likelihood of business with any nation that has differing views and concerns of potential future divergence from US perspectives.
The new law targets Russian and Iranian assets, but continues to weaken the US credit and the dollar by creating an appearance that those nations that oppose US policy may lose their assets that are within the US. Given that the US has extreme political litmus tests and finds the politics of countries such as Hungary and Argentina to be extremist, the idea that such laws will remain limited to Russia and Iran is unclear – especially if Brandon got reelected through a broad lack of election integrity.
Given that the law would undoubtedly trigger a response, perhaps this Administration would have reviewed what assets stood to be lost by reciprocal actions.
Zerohedge just reported that a Russian bank VTB filed a lawsuit against JPMorgan in Russia and the Russian Court has ordered the seizure of $440 million from JPMorgan’s Russian operations. JPMorgan then filed in New York “arguing that it had no way to reclaim VTB’s stranded US funds to compensate its own potential losses from the Russian lawsuit.”
Russian Court Seizes JPMorgan Chase Funds in VTB Lawsuit.#russia #court #vtb #bank #JPMorgan #chase #Funds #RussiaUkraineWar #news #business #newsbusinessworld pic.twitter.com/aoE0ANz5t4
— News Business World (@newsbusinesswld) April 24, 2024
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