https://twitter.com/cramertracker/status/1498052654949404678?s=21
LOL Cramer.
When you are dunked on by Riverman for, well, Rivermanning, that’s a pretty good sign you need to reconsider your general view of reality.
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cash out via swift banking system - oh wait.
It’s all just money on a screen at levels higher than a bank teller/ATM. Bernanke or someone talked about just moving the comma a couple of spots over on the New York Fed computers during the 2008 bailouts.
$10B should buy a few monkey jpgs.
I dont get why they are just freezing these funds.
Take the money. Buy NLAWs.
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Central banks can send that amount of money in seconds between each other via wire transfers.
This reminds me of something I have wondered about.
Anyone know what happens according to article V if two NATO members go at each other.
Decided which one is the “attacker” and support the other? No support for either? Something else?
This really doesn’t answer my question, it just restates it. Still a number on a screen.
Explains it better than I could write in terms of how it works mechanically.
Dude. I understand that my bank can debit my account with $10 and credit your account at your bank with the same $10. I don’t think you understand my question.
I am not sure I understand the question.
If Russia has 10 billion in a French bank and it gets wired to a Russian bank, then it is no longer in the French bank (but, as you say, it’s all just numbers on a screen – kind of like bitcoin, but without all that blockchain business). Presumably it can be held in any currency. Russia could use it, but if people aren’t going to do business with Russia, then that is what really makes it worthless. The fact that it is numbers on a screen is not really relevant.
On the topic of not underestimating the enemy: Russian forces in the south have made a lot of progress, capturing bridgeheads to move northwest and covering most of the distance northeast to the Donbas. Opposition there is almost entirely civilians. The air assault on Vasylkiv, despite taking losses when the transports were shot down, pretty much cut off access to Kyiv from the west.
NATO in the past stayed out of it when where was hostility between Greece and Turkey
Yeah, I guess what I’m wondering is like, what does it mean for it “to be” at a Russian Bank? What if Putin walks into Banko Centralski Russki and says to the chief guy, “I want you to make that number say $630b”. Of course, it is technically possible to do that, it’s a number in a database. But unless it’s backed by something tangible, like money at a UK or EU or US bank, does it actually exist? I guess that’s kind of what SWIFT is for?
Like, how does he wire money to china to buy shit when the creditworthiness of his central bank is the square root of fuck all?
Guess so…
I’m struggling to find the face saving off ramp for Putin, who appears to be entering Hitler-level delusions. This is scary shit.
It seems like it means the rest of the banking world agrees that Russia has control over that amount of money. Putin could decide to say “Make the number say $630 trillion” if he wanted but he can only spend that money outside of Russia if everybody else agrees.
I wonder if we are just being fed rosy news since It’s only day 4, and Putin hasn’t even brought in the artillery to level a city yet.