"Russia will completely remove U.S. dollar assets from its National Wealth Fund".

[Budi]

Link to tweet

FROM CNBC:
https://www.cnbc.com/amp/2021/06/03/russia-to-remove-dollar-assets-from-national-wealth-fund.html?__twitter_impression=true

*Russia will completely remove U.S. dollar assets from its National Wealth Fund.

*Timothy Ash, senior emerging markets sovereign strategist at BlueBay Asset Manager, described the decision to ditch U.S. dollar assets as "very political."

*The Biden administration imposed a raft of new sanctions against Moscow in April.
MORE...

Russia says it will remove dollar assets from its wealth fund
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Replying to
@ericgarland
"Let’s you know the Russian wealth fund has already been plundered by the Putin . Gang & dollars are in other ex Russia funds or transmitted into other instruments of value; either way the Russian treasury is likely by heavily depleted, Putin’s bulging at the seams. Reasonable"?

Replying to
@ericgarland
"Next month the Federal Reserve will preview a US Digital Dollar. A digital dollar that will not only make cross-border payments instantaneous but allow the US Dollar to effectively remain the globe's reserve currency. Russia and other totalitarian states do not like that. "

[SheltieLover]

1. Shitbag putin having a sad?

Fed should nationalize anything russia owns here. Fuk 'em.

[Budi]

4. I'm going with twitter reply #...

Putin's already raided the wealth fund & plans to retire a multi billionare.

[Irish_Dem]

14. Putin is worth about $70 billion. Probably more than that.

[Budi]

29. That's exactly how he got that 70+ billion.

He's stolen his wealth from the Russian people.

[Irish_Dem]

30. He literally stole the entire Russian economy and put it into his offshore accounts.

And there is nothing the Russian people can or will do anything about it.

[gldstwmn]

2. Good luck with that

And their shitty Petro dollar economy that is somewhere behind the state of CA in terms of output.
If they had a decent economy maybe there wouldn't be so many ransomware attacks. They might think they're cute now but eventually they will get served.

[TheBlackAdder]

16. Oo, a country with the wealth of New York State is scaring us.

[ZZenith]

17. Russia GDP 2020 1.47 trillion.

California GDP 2020 = 2.42 trillion.

So about $1,000,000,000,000 behind.

[Beetwasher.]

25. Yup, Puny Putin

Making noise lately, but Joe is on to him and I have a feeling Putin and Russia are about to “go through some things”. His stooge too.

[JoanofArgh]

3. I think we need to take Gary Kasparov's advice and stop meeting with Putin at all.

It just legitimizes him.

[dalton99a]

15. +1. A summit with that murderous thug? WTF

[rockfordfile]

32. I agree

The un-American gop is owned by Russia.

[joetheman]

5. Didn't Saddam try something similar? And look what happened to him. Nothing like threatening

autocratic wealth to get you killed. Oh, sure, they will something else to distract and justify the wrath and conflict that will occur but what will be behind it is the MONEY!!

[doc03]

6. California had larger GDP than Russia. As far as I

know their biggest industry is oil and pornography. They make absolutely nothing else of value.

[Budi]

10. Lol. Oil & Pornography

That's about it!

[TheBlackAdder]

18. Oil, Pornography, Pornography BLACKMAIL and Hacking.

[doc03]

20. I think Colombia has them beat in pornography. nt

[WarGamer]

11. Don't forget things that go BANG and BOOM.

[Budi]

7. Go get him Joe!

[WarGamer]

8. Off topic... but the person who said "mine crypto using US servers" is clueless.

It doesn't work that way lol...

[Yo_Mama_Been_Loggin]

9. Bitcoin and Dogecoin

That's the ticket.

[Budi]

13. Putin's been pushing crypto for a long time. It's useful for laundering

Since it was Originally a way to launder & steal, because money was regulated & trackable & crypto, bitcoin, 'dodgecoin' was not.

[TxGuitar]

12. Cut off all Russian access

To US banks for even a day and they'd change their tune. If not, make it indefinite.

[TheBlackAdder]

19. OFEC Sanction them for just one day and half of the world's banks cut them off.

[ProfessorGAC]

21. Russia, With Pistol In Hand, Takes Dead Aim...

...at their own foot!
Steady, boys! Wouldn't want to miss!

[Beetwasher.]

26. Exactly

Biden’s got this. Obviously Biden is getting to him.

[Beastly Boy]

22. It will have zero effect, both on the US economy and on Russia's economy. It's a meaningless propaga

stunt. The entire Russian wealth fund is about $85 billion, or 0.7% of Russia's GDP There is a whole lot more in real physical paper dollars in circulation in Russia, since the US dollar is a de-facto and the preferred currency in Russia. Nobody trusts the rouble. I don't know how much wealth will remain in Russia's wealth fund once the dollar is removed from it, but there will be plenty of dollars left outside the fund to drive Russia's economy.

[BlueWavePsych]

23. Ditto.

[Happy Hoosier]

24. Whatever shall we do.

If it wasn’t for nukes, Russia wouldn’t be a blip on the international stage.

[Budi]

27. Putin's raided the wealth fund already. It all belongs to Vlad.

[roamer65]

28. The Federal Reserve will just monetize whatever assets they sell via QE.

Same goes for any Chinese sell off of US treasury paper.

[rockfordfile]

31. I agree

If the Russians are using US servers to mine crypto, FBI can seize those. If the Russians are using any thing related to our country, shut it down.

A good start would getting rid of "little Moscow" in Florida.