We have a very serious problem. I know ow where the advice to Biden and world leaders is coming from telling them to now seize all the assets of Putin’s “friends” to put pressure on him – their yachts, bank accounts, houses – everything. It is Bill Browder who was Safra’s partner in Hermitage Capital Management all because Putin seized all of his assets over the blackmailing of Yeltsin who Putin wanted to question – not kill. Browder is telling world leaders now to confiscate all Russian assets belonging to what he claims are Oligarchs.
Let me make this very clear. This is a complete abandonment of international law and the absence of any Due Process of Law which has been the cornerstone of law globally. Due Process is based upon the Bible where the story of Cain & Able. God knows what happened that Cain killed his brother. Nonetheless, he still allows him the right to be heard to explain his side of the issue. That is not only what we have denied in this Ukrainian affair, but now the West will simply seize all the assets of Russians in the West who are not in government denied any right to Due Process of Law.
What is the Repercussion of Such Acts?
We are not simply looking at World War III beginning in the financial markets with Russian cyberattacks against US banks, this is one SERIOUS warning to Chinese investors that they too can have all their assets seized in a dispute with China. Remember how anyone of Japanese heritage was imprisoned during World War II denied all Due Process that was based solely on their nationality? It took four decades before it was admitted this violated the foundation of human rights.
This is the most DANGEROUS advice in history. It can totally destroy the world economy as we know it. Foreign investment in Russia will be seized and the prospect of this migrating to China is extremely high. This is crossing the line. You do not go after the assets of private individuals claiming they are holding personal money for Putin. This is now about the legacy of Putin and he will NOT suddenly stop because his personal assets are confiscated. If anything, this amounts to an act of outright war. This will never achieve a reasonable resolution. This is the personal vengeance of Browder because of the seizure of Hermitage Capital Management as well as the attempt to take over Russia by the bankers in 2000.
This is going to have major implications on all markets and you should be looking at the arrays carefully. Something was not right and the arrays were picking this up. It is perhaps why gold failed to elect two important Monthly Bullish Reversals at the end of February when it was trading above them during the month.
Reprinted with permission from Armstrong Economics.