United States Senators are coming together in a bipartisan group to prevent Russia from using the huge hoard of gold they have been buying up since 2014. The move would prevent Russia by-passing sanctions put on it by the U.S and NATO Allies.
Janet Yellen, the Treasury Secretary is set to meet with a group of bipartisan Senators to discuss how best to go about the legislation that would cut off Russia from caring for its gold stores.
During an interview with Fox Business, a Treasury spokesperson said Sens. Angus King (I-ME), John Cornyn (R-TX), Bill Hagerty (R-TENN), and Maggie Hassan (D-NH), were working on the legislation to stop the gold sales by Russia.
“Secretary Yellen regularly meets with members of Congress to discuss legislation,” the spokesperson said. “Additionally, Treasury staff frequently provide technical assistance on sanctions bills.”
What is currently under consideration, would implement additional sanctions against Russia by banning American entities knowingly buying or selling Russian gold – which is estimated to be worth $132.3 billion and is the fifth largest stockpile in the world.
Senators hinted that the bill could be passed as quickly as this week and they previously wanted the legislation passed in the latest omnibus spending bill.
The move would also scare banks out of buying or lending against Russian gold in countries like India and China.
“By sanctioning these reserves, we can further isolate Russia from the world’s economy and increase the difficulty of Putin’s increasingly-costly military campaign,” King said in a statement.
Since 2014 Russia has been stocking up on gold. This came after sanctions were imposed over Russia taking back Crimea – of note, the elections in Crimea turned out to be 96 percent of the population, wanting to go back to Russian control.
Russia halted its purchasing after the covid pandemic of 2020 – pushed gold prices to new heights.
Of course, there is much worry that sanctions against Russia won’t work, because of its huge cache of gold. The plan to back up the ruble with gold currency, has the Globalist Banking Cartel very concerned.
What the United States risks, however, is trust from other countries. Never before has the federal government flexed its muscles as much as it has over the past two years – stomping citizens rights.
The U.S dollar largely relies on its currency being used to purchase oil, known as a “petrodollar.” If others move away from that petrodollar and work amongst themselves, the U.S dollar will completely crash and become worthless.
The Central Bank of Russia was cut from the international banking system known as SWIFT, stopping the exchange of dollars, euros and other foreign currencies and Russia has a reported $630 billion stockpiled.
Russian oligarchs have already had assets seized, including their luxury yachts, for reportedly having close personal ties to Russian President Vladimir Putin.
It’s ironic that there is fierce opposition to Russia backing its currency with gold, when the U.S dollar appears to only be propped up by promises of future deals – that could be cut off at any time.
Lawmakers in the House of Representatives have also introduced a companion bill to freeze Russian gold.
Sanctions against all the Rusky oligarchs, Except the female oligarch that gave hunter Biden the 3.5 million $.
What’s up with that? OH, the Biden crime family protecting it’s illegal cash flow.
There is zero daylight leading to support of the US or any other government being able to arbitrarily walk in and steal the property of private citizens of another country who have not been convicted of crimes by any international court. None. Especially not because they have a friend who has also not been convicted or even tried for anything in an international court. The US and its BS are so far past fresh date that if the US were a person you’d have to shoot its food to it with a 12 gauge.
The Globalist Puppets are demonstrating what they intend to due to everyone who has the audacity to defy their ideals. Justified or Not, they will go to any length to make you OBEY their totalitarian rules or else. “Resistance is Futile, You will be assimilated” ! Sound Familiar ? You will own nothing, and be happy ! You will no longer have any rights, and you must OBEY or be cancelled ! Yeah, sign me up for more of that ! To Hell with these Globalists, they can keep their Social Change and I will keep my rights and my $ ! F J B !
If Russia or China tried to make such a move against the US, we would outraged and protest our rights as a Sovereign Nation to spend our finances as we wish. While such duplicity is expected from the Left/Globalist Factions, those interested in preserving the Right of a People/Nation should be willing to concede to both the correct and incorrect uses of any country’s financial reserves. The latter we can protest but cannot simply deny because it is inconvenient. Without set absolutes, there can be no objections to deviations from current norms.
Deny a country ownership of, and the ability to use, its resources will ultimately result in private citizens being unable to do the same. Once a legal precedent is set, it becomes extremely difficult to override unless one has the financial wherewithal to take the matter to court and there make a challenge to any existing legal decree. Never use current situations to dictate how you address any ongoing, long-suffering issues. You may (and probably will) live to regret it.