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Furious Russia Will Retaliate Over "Illegal And Absurd" Payment Block By "Hostile" JPMorgan

Tyler Durden's picture




 

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that "Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer "Under Pretext" Of Sanctions." This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with "Russian threat to retaliate over JPMorgan block." And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as "illegal and absurd."  And as Ukraine found out last month, you don't want Russia angry.

More:

The biggest U.S. bank thwarted a remittance from the Russian embassy in Astana, Kazakhstan, to Sogaz Insurance Group “under the pretext of anti-Russian sanctions imposed by the United States,” the ministry said yesterday in a statement on its website. Sogaz lists OAO Bank Rossiya, a St. Petersburg-based lender facing U.S. sanctions over the Ukrainian crisis, as a strategic partner on its website.

 

Interfering with the transaction was an “absolutely unacceptable, illegal and absurd decision,” Alexander Lukashevich, a ministry spokesman, said in the statement.

 

U.S. President Barack Obama announced the action against Bank Rossiya last month as part of a broadening of sanctions that targeted government officials and allies of Russian President Vladimir Putin, whose associates own Rossiya. The embassy’s transaction was for less than $5,000 dollars, a person with knowledge of the dispute said, asking not to be identified because such transfers aren’t public.

Did JPMorgan just move the second Cold War into semi-hot status? Very possibly:

Any hostile actions against the Russian diplomatic mission are not only a grossest violation of international law, but are also fraught with countermeasures that unavoidably will affect activities of the embassy and consulates of the U.S. in Russia,” Lukashevich said.

As we reported yesterday, for now the JPM party line is to plead ignorance, as it does not want to incur the wrath of the US government, because apparently lying to Congress is less of an issue than transacting with Russian oligarchs.

JPMorgan could still process the embassy payment if U.S. regulators approve, the person familiar with that dispute said.

 

“As with all U.S. financial institutions that operate globally, we are subject to specific regulatory requirements,” New York-based JPMorgan said in a statement. “We will continue to seek guidance from the U.S. government on implementing their recent sanctions.”

 

Russia’s Finance Ministry has done business with JPMorgan. It picked the lender to improve the country’s standing among U.S. credit-rating firms. Putin said in 2011 the rankings given to Russia were an “outrage” that increased borrowing costs for domestic companies and the government. JPMorgan also was among banks selected to advise Russia on a 1 trillion ruble ($28.5 billion) privatization program.

There's that. And then there's this, which we also said yesterday:

Wait, did JPM just take a unilateral action, not mandated by the state department (because nowhere in the Russian sanction list does it say putting a freeze on Russian bank transfers), and refuse to process a simple money transfer? Why? And if indeed JPM is doing this, how long until all other US banks, most of which are just as allegedly criminal in dealing with offshore sources of illegal money, follow suit and leave Russia entirely in the world when it comes to USD-backed transactions.

 

Because what JPM may have just done is launch a preemptive strike which would have the equivalent culmination of a SWIFT blockade of Russia, the same way Iran was neutralized from the Petrodollar and was promptly forced to begin transacting in Rubles, Yuan and, of course, gold in exchange for goods and services either imported or exported.

 

One wonders: is JPM truly that intent in preserving its "pristine" reputation of not transacting with "evil Russians", that it will gladly light the fuse that takes away Russia's choice whether or not to depart the petrodollar voluntarily, and makes it a compulsory outcome, which incidentally will merely accelerate the formalization of the Eurasian axis of China, Russia and India?

Once again: watch this space carefully - should more western commercial banks (here's looking at you Citigroup, Bank of America, and Citi, and of course "money launderer to criminals everywhere" extraordinaire HSBC) just say no to more Russian hot money, things get really interesting.... if for nothing else, then certainly the ultra-luxury end of the Manhattan real estate market.

Finally, we certainly can not be the only ones looking forward to the epic battle prospect that is Vlad "Shootin" Putin vs JP "Fail Whale" Morgan. Especially if it involves more such sudden moves in gold as what just happened.

 

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Wed, 04/02/2014 - 10:18 | 4617155 RaceToTheBottom
RaceToTheBottom's picture

Russia has good programmers when provided good directions.  They could create these quite nicely.

Wed, 04/02/2014 - 09:43 | 4617000 TahoeBilly2012
TahoeBilly2012's picture

I had a dream last night of young Russian's driving around like mad in 1950's American cars screaming and yelling on their way to somehere fun (the next cheap gas station)....they just kept driving and driving like there was no end in site or gas they needed for endless summer fun. Didn't Denny's open in Moscow?

Wed, 04/02/2014 - 09:43 | 4617002 RadioactiveRant
RadioactiveRant's picture

Aha, Dimon take his tea the same as Litvinenko

http://thetim.es/Pi1GUg

 

 

Wed, 04/02/2014 - 09:44 | 4617011 turnoffthewater
turnoffthewater's picture

Warning Mr Putin,

Please avoid convertible Lincoln towncars and dimly lit theatres.

Wed, 04/02/2014 - 09:51 | 4617038 yogibear
yogibear's picture

Putin, get together with the BRICs and don't play the dollar and Euro game because you e=will lose.

Dump the Yen, dollar and Euro. Demand payment in an asset they don't have much in and need to buy.

 

Wed, 04/02/2014 - 09:52 | 4617040 Unknown Rider
Unknown Rider's picture

Seiges on Moscow don't turn out too good. Typhus, and bad decisions, took down Napoleon's Grande Armee in 1812, the weather, and bad decisions, killed OPERATION TYPHOON in WWII - might as well checkoff the bad decisions box early this time too.

Wed, 04/02/2014 - 11:02 | 4617320 SmittyinLA
SmittyinLA's picture

There won't be any siege or WW2 redux with 20 million Russian body donations, they don't have the population, they do have nukes.

 

The body donations will be everything but Russians.

 

If I were Putin I'd force the US govt to prosecute and break up JP Morgan and wipe out its stock and bond holders.

 

Shut off the uncontracted oil and demand a dissolution of JPM.

Putin to US: "close down and prosecute JP M or I cut off the EU and watch it go up in Muslim riot flames"

 

Putin has leverage.

Wed, 04/02/2014 - 16:29 | 4618603 MeelionDollerBogus
MeelionDollerBogus's picture

is be different thiz time, comrade!

Wed, 04/02/2014 - 09:55 | 4617053 RaceToTheBottom
RaceToTheBottom's picture

So the world will avoid our technology because of the imbedded spying functionality (Its a feature...)

Now the world will avoid our banks because of the risk that the processes maybe shut down by political whim or JPM incompetence.

 

Yeah, love it. 

Wed, 04/02/2014 - 09:55 | 4617055 dogismycopilot
dogismycopilot's picture

getting in between a Russian mobster and his money is not a good business strategy.

 

Wed, 04/02/2014 - 16:18 | 4618574 MeelionDollerBogus
MeelionDollerBogus's picture

is be meet Ivan with vice grip. He teach to Jamie Dimon the "Siberian Handshake".
Is be much style more than American magnetic tree with Michael Hastings.

Wed, 04/02/2014 - 10:04 | 4617097 Sambo
Sambo's picture

Now where did I hear Kazhakstan being mentioned recently..... Oh yeh, MH 370.

Wed, 04/02/2014 - 10:26 | 4617190 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Cass is that you?

You got the wrong muzzies there, Uyghurs not Kazakhs.

Why would Kazakhs hijack a plane full of Chinese when there is no animosity there towards the Chinese and friendly relations to Russia. Why would China or Russia allow one of the richest mineral honeypots like Kazakhstan be turned into a battlefield that is in their backyard in the first place?

Uyghurs on the other hand have serious problems with the Chinese and the Chinese been fucking with them in their home territory which has resulted in retaliations recently aka knifings at a train station. Top it off one of the passengers on that flight happened to be a known Uyghur 'seperatist' with flight training experience. That plane if it went north landed in Xinjaing most likely or was shot down by the Chinese if anything.

The Chinese know where that plane went as long as those Chinese cellphones were functioning while it was still in the air, same with the NSA since they are in the Chinese telecom system also so they would have gotten the same metadata to track the general flight path....

Wed, 04/02/2014 - 10:04 | 4617101 HRamos_3
HRamos_3's picture

Such retaliation

Very violence

Much crash

Wow

Wed, 04/02/2014 - 10:05 | 4617102 NoTTD
NoTTD's picture

A good opportunity to find out who is more powerful:  A sovereign nation...or a bank.

Wed, 04/02/2014 - 10:18 | 4617154 RadioactiveRant
RadioactiveRant's picture

To be fair, most NY/London banks owe their Sovreigns. They should be marching their bankers on to the aircraft carriers to defend the printing presses that saved them.

Wed, 04/02/2014 - 10:07 | 4617110 RevRex
RevRex's picture

Putin is petrified of America,ever since he saw the United States Armed Forces members openly participating in the First Annual Obama Military Sex Deviant parade last month....paid for by U.S. Taxpayers!

 

 

And now  Obama allows transexuals to openly serve! Take that Russian aggessors!

Wed, 04/02/2014 - 10:19 | 4617162 Oldwood
Oldwood's picture

American exceptionalism may have always been a farce in some people's minds, but it was very real to others. In a world where rightly or wrongly we were respected and also feared because there was a belief that we would stand for principles as well as die for them, we had power. The illusion is dying now. Radicals are gaining respect (or fear) exactly because they will stand for their principles (regardless of how flawed they may be), whereas America is now seen as a joke. Maybe we always were, but now it is a popular belief, and not to our advantage. This may please many of you as some type of justice, but we have yet to see how this evolves (or devolves) and it could get very bad indeed. To be strong may not always be pretty, but it always beats being dumb and ugly. Putin appears strong and as such is admired for it, not only in his own country but by those that fear him. Obama is a disaster and I want to see him gone, but I do not want America to look foolish regardless of who is president.

Wed, 04/02/2014 - 11:00 | 4617314 nowhereman
nowhereman's picture

Too Late

Wed, 04/02/2014 - 12:57 | 4617732 JR
JR's picture

Dr. Adrian H. Krieg said recently that the new “American ‘Exceptionalism’, just like Cultural Marxism, is the “all-encompassing ‘progressive’ war being waged against America, Americans, and the middle class.” He writes:

“’American Exceptionalism’ is a phrase that has in the last few years become the norm when the establishment speaks of American foreign or even domestic policy. It is a very powerful expression, establishing a false mindset about the condition of the U.S. government. As Paul Craig Roberts so aptly puts it,

‘[This] self-righteous doctrine proclaims America to be the indispensable country. What that means is that the U.S. has been chosen by history to establish the hegemony of secular “democratic capitalism” over the world.’

“Roberts goes on to say, ‘[So-called American exceptionalism] places America above traditional morality and above law, both its own and international.’

“Roberts is absolutely right on target… The use of this system is virtually identical to Cultural Marxism used by the [Bolsheviks] since before the first and failed Russian revolution in 1905."

Wed, 04/02/2014 - 13:06 | 4617753 walküre
walküre's picture

What better psy op than forcing your enemy to fight trannies? I'm waiting for Obama to allow zombie marriages and overturn "don't ask don't tell" for zombies at the military.

Wed, 04/02/2014 - 10:16 | 4617145 yogibear
yogibear's picture

Squeeze the West Russia and China. Demand payment in gold for your resources. Something many of these countries don't have much of.

The US is an emperor without clothes. The Fed couldn't even give Germany it's gold because it didn't have it.

 

Wed, 04/02/2014 - 13:11 | 4617770 JR
JR's picture

The reserve currency cauldron is bubbling. These banksters are not fooling with Iran, they are fooling with the Russian Federation. It is a big difference because they’re fooling with the petro dollar and the reserve currency; both are on the line and these banksters are not that smart.

Daily it becomes more and more precarious for anyone to store his future in the U.S. dollar, i.e., the reserve currency. Is there anyone left who still believes these banksters care about America? They are soldiers of fortune... who have no loyalty.

Wed, 04/02/2014 - 10:16 | 4617146 kragsquest
kragsquest's picture

Maybe Russia is reconsidering its mothballing of nukes; time to bring them back and aim them where they will do the most damage.....

Wed, 04/02/2014 - 10:53 | 4617291 SmittyinLA
SmittyinLA's picture

Switzerland?

 

Wed, 04/02/2014 - 16:13 | 4618557 NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

JPM?... The White House?... But then, I repeat myself...

Wed, 04/02/2014 - 10:20 | 4617164 Uncle Remus
Uncle Remus's picture

Viewed from the Dark Side, this is comedy gold.

Wed, 04/02/2014 - 10:20 | 4617165 overthehill
overthehill's picture

Hey, wasn't JPM heavily involved in the runups to WWI & WWII?

Wed, 04/02/2014 - 10:42 | 4617251 22winmag
22winmag's picture

Heavily involved? JPM brokered and financed illegal steel and arms deals between the U.S., France, Britain, and Russia.

 

An oldie but a goodie: https://www.lewrockwell.com/2004/01/john-j-dwyer/the-united-states-and-w...

Wed, 04/02/2014 - 16:11 | 4618547 NOTfromSanFrancisco
NOTfromSanFrancisco's picture

   Nice...

Wed, 04/02/2014 - 10:27 | 4617199 The Abstraction...
Wed, 04/02/2014 - 10:48 | 4617267 edifice
edifice's picture

Keep dreaming...

Wed, 04/02/2014 - 14:00 | 4617284 1stepcloser
1stepcloser's picture

The FRN is likely to go to infinity against everything...  Plan accordingly 

Wed, 04/02/2014 - 10:34 | 4617225 luckylongshot
luckylongshot's picture

The desperate last moves of a failing TBTF Bank. Perhaps they forgot that being so big means JPM has, if everything is in proportion, a very large ass. Ironicly the guy that is about to expose how big it is and what can be done with it , is named Put in. Enjoy it JPM, you deserve it.

Wed, 04/02/2014 - 10:49 | 4617269 Spungo
Spungo's picture

"we too need to leave comments regarding family members out of this discussion."

You're probably right. As much as I hate Jamie Dimon and other bankers, Vlad killing him or his family would be a very bad thing. Is that how we'd do business in the future? They kill our oligarch, we kill one of their guys, they bomb our embassy, we bomb theirs? That's the kind of stuff that starts wars. That's how WW1 started. If our own people rise up to hang bankers, that's one thing, but allowing other countries to do it is completely different. 

I apologize for my previous comment regarding Jamie's family. I forget that some people on the internet really are insane, and saying the wrong thing could give people ideas. 

Wed, 04/02/2014 - 11:08 | 4617346 unplugged
unplugged's picture

Instead, Jail the fuckers with Bubba for endless nights of butt-raping fun! 

Wed, 04/02/2014 - 19:20 | 4619131 waterhorse
waterhorse's picture

They kill our oligarch, we kill one of their guys, they bomb our embassy, we bomb theirs?

Unfortunately, that is what it will take to rid our world of some wealth-extracting parasites.

Wed, 04/02/2014 - 10:51 | 4617285 q99x2
q99x2's picture

Don't fuck around Putin. On this one go straight for Jamie Dimon and mayswell take the other world terrorist Loyd Blankfein too. If you could bring these two to justice the World would absolutely LOVE you.

Wed, 04/02/2014 - 10:58 | 4617307 joego1
joego1's picture

This is the part where shit mysteriously starts blowing up all by itself.

Wed, 04/02/2014 - 11:06 | 4617338 RadioactiveRant
RadioactiveRant's picture

No, its the part where you suddenly feel unwell, and not even Obamacare can save you :(

Just ask Badri Patarkatsishvili...

Wed, 04/02/2014 - 10:59 | 4617311 joego1
joego1's picture

Oh my lord! The Wizard of Oz accidently stepped out behind the curtain in his Nato uniform. Whoops!

Wed, 04/02/2014 - 11:16 | 4617373 Spungo
Spungo's picture

Jamie might do really well in prison. He's probably a very charismatic person if he was able to become CEO. He would probably join the arian brotherhood in prison and rise to the top of that group.

Wed, 04/02/2014 - 11:24 | 4617400 Jethro
Jethro's picture

GLONASS was down for a little bit. I wonder if that was a warning or a glitch?

Wed, 04/02/2014 - 11:27 | 4617413 nathan1234
nathan1234's picture

 

This was a trial balloon/ Obama's masters JPM was testing the waters.

One more test and they will drown  along with Obama

Wed, 04/02/2014 - 11:32 | 4617432 MrTouchdown
MrTouchdown's picture

Lukaschevich should have phoned in to his cousin Maneshewitz to get a hook up on the inside. What a n00b.

Wed, 04/02/2014 - 11:36 | 4617445 Notsobadwlad
Notsobadwlad's picture

Kool ... Russia should declare war against "The City of London".. and maybe Basel Switzerland/BIS. That should take care of their JPM problem. My suggestion to the US and Britain is to stay out of the way when Russia delcares war on the INDEPENDENT banking countries.

Wed, 04/02/2014 - 11:53 | 4617494 LFMayor
LFMayor's picture

Polonium cocktails coming up.  Best of luck and enjoy, bankster bitches, you've stepped off onto the thin ice.  This motherfucker doesn't play by those Queensbury rules.

Wed, 04/02/2014 - 12:32 | 4617646 css1971
css1971's picture

Sports are not real practical martial arts and real practical martial arts are not sports. Martial arts entail defeating an opponent through any possible means, sports are entertainment.

Wed, 04/02/2014 - 11:59 | 4617523 waterhorse
waterhorse's picture

Once again: watch this space carefully - should more western commercial banks (here's looking at you Citigroup, Bank of America, and Citi, and of course "money launderer to criminals everywhere" extraordinaire HSBC) just say no to more Russian hot money, things get really interesting.... if for nothing else, then certainly the ultra-luxury end of the Manhattan real estate market.

 

I have a hard time believing corrupt banksters will say no to money.  On the bright side, maybe some Putin spies will take out Dimon and ilk.  One can always hope...

Wed, 04/02/2014 - 12:05 | 4617537 Save_America1st
Save_America1st's picture

and how will that news play into this news:  

MOSCOW, March 30. /ITAR-TASS/. An action in support of bank Rossiya which has decided to work exclusively with the national currency will take place in Moscow on Sunday.

The Golden Symbol of Russian Rouble installation in front of the bank’s office in Perevedensky pereulok in Moscow will symbolize the rouble’s stability and its backing by the country’s gold reserves, the action’s organizers explained to Itar-Tass.

http://en.itar-tass.com/economy/725832

 

Will Russia beat China to the punch and back the rouble with its gold first?  More nails in the U.S. dollar coffin.  Our coffin is so full of nails you'd think it tried to commit suicide by nail-gun. 

Wed, 04/02/2014 - 12:20 | 4617591 css1971
css1971's picture

no nation with a fiat currency would be dumb enough to "back" the currency with gold. They may well transact in gold but they're not about to put it behind bits of paper they are busy printing by the trillion.

Wed, 04/02/2014 - 13:01 | 4617743 forwardho
forwardho's picture

At this point the nail analogy needs to be replaced with the stake through the heart.

It seems to fit the situation.

Wed, 04/02/2014 - 13:04 | 4617750 SmittyinLA
SmittyinLA's picture

No, right now China has a $600B year trade surplus with United States, their national fuel bill is less than that, China essentially gets free fuel and a cash surplus for it's US trade.

Charlie dont have rubles, Charlie got dollars 

Wed, 04/02/2014 - 17:51 | 4618840 walküre
walküre's picture

Glory, glory to the Rouble! Nice propgaganda piece. On the ground, smart Russians with foresight are scrambling for foreign currency and precious metals. Just like everywhere else on the planet. The smart money is definitely NOT in Roubles or Yuan.

Wed, 04/02/2014 - 12:05 | 4617540 waterhorse
waterhorse's picture

This should be fun, "Clash of the Megalomaniacs."  I'll make the popcorn.

Wed, 04/02/2014 - 14:36 | 4618147 MeelionDollerBogus
MeelionDollerBogus's picture

I know there's no tag-teaming in Fight Club but they're not actually in Fight Club.
I say Icahn + Putin vs Ackman + Obama

Wed, 04/02/2014 - 12:23 | 4617610 resurger
resurger's picture

Fucking jews

 

Wed, 04/02/2014 - 12:56 | 4617727 SmittyinLA
SmittyinLA's picture

you know the 2 guys that voted that comment were jews

Wed, 04/02/2014 - 13:04 | 4617749 walküre
walküre's picture

... the Ukrainian, Russian or American Jews? I thought Putin loved the jews so much he wanted to liberate Ukraine from potential right wing jew nazi black homo gay scum? LOL

Wed, 04/02/2014 - 12:29 | 4617633 mendigo
mendigo's picture

And if russia is provoked to shut off gas supply who might step up to save europe and who might stand to benefit. Suspect rogue banker

Wed, 04/02/2014 - 12:40 | 4617668 fxchange
fxchange's picture

Kazakh President Nursultan Nazarbayev responded to reunion of Crimea and Russia and appointed PRO-CHINEESE Karim Masimov as his new prime minister on Wednesday, describing him as well-equipped to work with global finance and attract foreign investment in difficult times.

Wed, 04/02/2014 - 12:50 | 4617695 ebworthen
ebworthen's picture

"Ron Paul says US sanctions against Russia an 'act of war' "

http://www.presstv.com/detail/2014/03/10/354126/paul-us-sanctions-on-russia-act-of-war/

Wed, 04/02/2014 - 12:50 | 4617696 waterhorse
waterhorse's picture

Anyone know Putin's e-mail address?  I'd like to urge him to personally retaliate against Jamie Dimon.

Wed, 04/02/2014 - 13:13 | 4617714 mrmister
mrmister's picture

I was expecting this. Hope JPM has an army that is bigger than Russia's. They deserve this. Hope other Wall Street firms follow suit.
I would expect the hidden internet trojans to go active soon. Yachts sinking, Strange Briefcases in lobbies, all kinds of weirdness. Oh yeah Polonium Tea that everyone is talking about.

Wed, 04/02/2014 - 12:54 | 4617721 SmittyinLA
SmittyinLA's picture

Russia needs to retaliate by imposing those draconian Russian taxes of 15% on occupied Crimea, then hit them with sovereign fuel rates and kick them with real infrastructure investmen.

.......meanwhile in US occupied EU African & Muslim hordes burn cars by hundreds and demand more money and more immigration everyday, now they're demanding bank raids on individuals, but whole states are next and if they don't comply against their own citizens wishes...... 

http://www.youtube.com/watch?v=tN0ucCc8TfA

 

Wed, 04/02/2014 - 13:02 | 4617747 walküre
walküre's picture

Russia is broke again, what else is new?

Wed, 04/02/2014 - 13:29 | 4617825 kill switch
kill switch's picture

And the U.S.A. is solvent?  HAHAHAHAHAHAHAHAH

Wed, 04/02/2014 - 13:50 | 4617929 walküre
walküre's picture

IMF and World Bank are part of the US empire. Russia and China can't change that no matter how much they bark. True, they could go back to the stone ages and exchange resources for rocks but in a day and age where 7 billion people need to eat, drink and drive which is why electronic currency and global intra banking and global payment settlements are here to stay. Russia and China can go exclusive but neither of them really want that. In the long run, we all have to work together or - go back to trading rocks.

Wed, 04/02/2014 - 14:32 | 4618130 MeelionDollerBogus
MeelionDollerBogus's picture

China & Russia could bankrupt the USA inside 24 hours by dumping all US Treasuries.
On the spot. You'd wake up tomorrow and every city in America would be Detroit by 9 am.

Wed, 04/02/2014 - 17:47 | 4618823 walküre
walküre's picture

Dump for what? You think there'd be a buyer? Every holder of USTs knows this is a sorry game. Funny thought though.

Wed, 04/02/2014 - 19:29 | 4619157 RMolineaux
RMolineaux's picture

The Fed would have to buy heavily (re-open QE), to prevent all US commercial banks from becoming insolvent.  The stock market will crash, and hyperinflation will set in.

Wed, 04/02/2014 - 13:49 | 4617921 NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

"Russia is broke again, what else is new?"

...as opposed to whom?...

Wed, 04/02/2014 - 13:57 | 4617960 walküre
walküre's picture

JPM is not shutting down US banking. US banks are not cancelling foreign lines of credit as is Russia's largest bank. Russia has run out of foreign currency because the oligarchs have drained their accounts. That's why Russian banks put all these capital controls in place. This is the real story. Russians may get through it this time without IMF assistance, we'll see.

Wed, 04/02/2014 - 13:08 | 4617760 jaxville
jaxville's picture

  JPM is ready for the response. They would have done this sooner but needed time to prep for the response. Let's hope Russia has something asymetrical in mind such as a massive third party purchase of gold through the Comex or LBMA. Good way to dump their remaining US fiat in the process.

Wed, 04/02/2014 - 13:42 | 4617893 Sizzurp
Sizzurp's picture

Putin could always ask for gold as payment for NG.  Things would get interesting to say the least.

Wed, 04/02/2014 - 13:52 | 4617939 dogismycopilot
dogismycopilot's picture

Bank fucks you over:

-Had your credit declined?

-Had a big check 'held' by the bank for 2 weeks to be verified?

-Had the IRS dip into your bank account?

 

WE ARE ALL RUSSIANS!!!

Wed, 04/02/2014 - 13:52 | 4617940 Sandmann
Sandmann's picture

Hong Kong will be a good financial centre with a solid Central Bank and the new Internet Nexus Brazil-India-China-Russia is the basis for an alternative economic system

Wed, 04/02/2014 - 13:53 | 4617950 Primal
Primal's picture

Russia has been dying to flex its might for some time now. It did in the Ukraine and saw itself lose even more credibility in the eyes of the world. Putin is a highly reactive tyrant where as our special tyrants are calmer and more calculated. The US is smart in the way it has been handling this crises because it diffused any prospect of an actual war due to mass general concensus on the side of the west. The art of war in full effect here. Russia has already lost no matter what happens from here on out leaving room for the good Totalitarians like president Obama and his ilk to attempt to usher in an ideologically "free" world based on the way they see it; of course with the support of their duped followers. Fascism and Communism in full effect.

With this being said, the further you go down the rabbit hole whether through a dialectic or through extensive contemplation, you see that all of them have already lost.

Wed, 04/02/2014 - 14:28 | 4618089 MeelionDollerBogus
MeelionDollerBogus's picture

Lose credibility relative to who? USA? No. EU? No. Not with the debacles over Greece & Cyprus (do consider it's already militarized, Greece vs Turkey). China? Maybe but they are allies. China's influence so far is mostly non-military (except in the case of Japan).

America's actual wars declared, and America's destablization of elected democracies give it only a very hypocritical stance from which to judge any credibility of others.
The stories so far that neonazis with American backing are those that overthrew the democracy in Ukraine makes the credibility attack even worse.
I haven't been there, can't confirm there are really neonazis if I can't see it with my own eyes, but if it's true then Putin doesn't lose credibility by standing up to nazis.
Think about WW2. Remember? Nazis. Enemies of the American+European+Russia+China alliance. That doesn't mean Russia was "friends" but we all shot at the same enemy (Fascist Italy, Nazi Germany).
Following in the same steps isn't a loss of credibility, supporting Nazis is.

Chew on that for a second. A current American President who is clearly not white, supporting a neonazi uprising which is at its core "white power" like the KKK.
Chew on that. Is it true? If it is it's fucked

Wed, 04/02/2014 - 20:00 | 4619272 The Joker
The Joker's picture

Wow.  I chewed.  I threw up a little. Never saw that angle.  Nice.

Wed, 04/02/2014 - 20:08 | 4619314 Ocean22
Ocean22's picture

USA= the neo-nazis... Rest of the world ..neo-allies.

WW2 repeat. Same layout different countries.

Thu, 04/03/2014 - 07:21 | 4620488 Primal
Primal's picture

On this move Russia is being seen as the bad guy in the eyes of the world. I did not say that they lost credibility in the eyes of another totalitarian regime that we have in the Obama administration. That would be hypocritical I agree. All I was saying is that the US, as a totalitarian state is playing its cards better in their pursuit of domination(I know they aren't credible either(paradoxically).

I do know of ww2 and especially the ribbentrop molotov pact in which tyrants(Stalin's Russia and Hitler's Nazi Germany) joined together in order to pursue their agendas only to have Russia end up decimating Germany after that pact.

I hear what you're saying believe me. I have 25 thumbs down and I'll be honest even at the risk of offending Zerohedge's members, I would expect the subscribers here to have understood the message I was trying to convey. If I was just misunderstood that's one thing but if the subscribers still cannot see some of the veracity of my post then I think some may want to question their own preconceived notions. I never read other posts first in order to remain independent in thought.

I dont trust the EU or the US Gov't but they have succeeded in making Russia look like the bad guy whether or not they are; And my point was because of that, it probably would diffuse the prospect of all out war with the US and or NATO forces. That's all.

And when I said they have already lost I meant that I believe that when you really look at what is going on in the world you can see that people are waking up and that the laws of truth are coming through like a freight train.

Wed, 04/02/2014 - 13:55 | 4617954 post turtle saver
post turtle saver's picture

blah blah bunch of bluster and buffoonery russian loser talk blah blah

Wed, 04/02/2014 - 14:13 | 4618050 Itchy and Scratchy
Itchy and Scratchy's picture

Who stole my kieska?

Wed, 04/02/2014 - 14:17 | 4618061 Son of Captain Nemo
Son of Captain Nemo's picture

I think it's safe to say that Russia has reached it's moment of cooperation in dealing with the petulant spoiled Jew banking establishment.

Time to shave the relationship back further by recalling it's embassies in the West. 

Might as well?  After all we know the Anglo-American establishment needs a "good spanking" and it's seems rather obvious it's got what is coming to it!

Wed, 04/02/2014 - 14:21 | 4618078 stopthejunk1
stopthejunk1's picture

Nice chart cherry-picking.  Gold makes a move like that just about every week, whether it's in a secular uptrend or downtrend... the chart means nothing.

Wed, 04/02/2014 - 15:19 | 4618304 Road Hazard
Road Hazard's picture

Maybe that's the reason behind the BTFD's? (Warning, slight exaggeration ahead but you get my point)

USA to world: "You want to bypass the USD and settle your debts in gold? Ok, fine...... enjoy your gold which is now valued at $0.20/ounce. I guess things break down when the world says, "well, $0.20/ounce if you're counting in USD.....seeing as how we have adopted the (insert new world reserve currency), gold is valued a bit higher...... like astronomically higher."

Wed, 04/02/2014 - 17:18 | 4618750 UGrev
UGrev's picture

KHAAAAAAAN!!!

Wed, 04/02/2014 - 17:51 | 4618837 Chuck Knoblauch
Chuck Knoblauch's picture
How To Win A Street Fight With Head Movement

http://www.youtube.com/watch?v=qSX0PCQXiO4

Wed, 04/02/2014 - 17:55 | 4618849 FlyingCarpetPilot
FlyingCarpetPilot's picture

JPM...the same Jewish cabal that started WW2 with the help of Bernard Baruch...now brings you another world war. Happy Hannukah, bitchez.

Wed, 04/02/2014 - 18:06 | 4618877 fukidontknow
fukidontknow's picture

 

I thought Obama had reset relations.

https://www.youtube.com/watch?v=uzc7FlRium8

 

Wed, 04/02/2014 - 18:11 | 4618892 highwaytoserfdom
highwaytoserfdom's picture

you want to hear about our oligarchs that have been looting since the Regan administration?  You know the 1%, the Heroin, cocaine  and lets not forget the Mexican drug carrells? The exact banker police state of usury and separate laws for the 1%..  Fascism by banks the question is whether the fascist corporatist Chinese, Russia and Indian profiteers override the military petro dollar profiteers.

http://www.icij.org/offshore/icij-releases-offshore-leaks-database-revea...

"The Rothschilds, and that class of money-lenders of whom they are the representatives and agents -- men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest -- stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved." by: Lysander Spooner
(1808-1887) Political theorist, activist, abolitionist
Source: "No Treason #6" (1870)

 

Wed, 04/02/2014 - 18:50 | 4619019 scrappy
scrappy's picture

GS acting like a sovereign.

Sickening, this is an outrage, do you want to be exposed to the consequences of goul-mans "foreign policy?"

We already are and have been for some time, no?

This is way over the line.

Quo Warranto filing imminent in New York State

http://www.nationallibertyalliance.org/sites/default/files/Quo%20Waranto%20filed%203-24-14.pdf

Notice the parts on INJURIES and DUTY OF THE COURT

Writ of Prohibition

http://www.nationallibertyalliance.org/sites/default/files/WRIT%20OF%20PROHIBITION.pdf?onlineViewer=false

  No Legal Authority of the Admiralty Court   

https://docs.google.com/viewer?url=http://www.nationallibertyalliance.org/sites/default/files/No%20legal%20authority.pdf

Court Prudinti tru counsel

http://www.nationallibertyalliance.org/sites/default/files/Prudinti%20tru%20counsel%2010-10-13.pdf?onlineViewer=false

Writ of Mandamus

  https://docs.google.com/viewer?url=http://www.nationallibertyalliance.org/sites/default/files
/01_19_14%20St%20Johns%20Writ%20of%20Mandamus%20.pdf

 

THIS EFFORT IN TRUTH WILL FULLY RESTORE THE CONSTITUTION.

 

TOTAL US Counties : 3142

 

Total Counties Constituted 314

 

FULLY CONSTITUTED STATES

New York 2-27-14
Florida 3-15-14
Connecticut 3-15-14
Rhode Island 3-15-14
New Jersey 3-22-14
New Hampshire 3-29-14

 

This is John, the founder on an interview, and he lays it all out for you.

 

Please take some time to at least watch and know what we are trying to accomplish for YOUR country and let others KNOW WHATS REALLY GOING ON.

 

Advocating for a Constitutional Convention is not necessary, and is in reality VERY DANGEROUS.

 

This is where those with inside access just play the SAME OLD GAME, without the People.

 

We are under assault from within, no doubt, and they are very sneaky. Be Vigilant.

 

http://www.nationallibertyalliance.org/files/radio/14-2-11%20Power%20Hour%20with%20Joyce%20Riley.mp3

 

http://www.nationallibertyalliance.org/common-law

 

http://www.nationallibertyalliance.org/slavery-consent

 

 

Let's go get em ZHrs.

Scrappy

 

 

Wed, 04/02/2014 - 19:32 | 4619167 DOGGONE
DOGGONE's picture

USA: The Public Be Suckered
http://patrick.net/forum/?p=1230886

Wed, 04/02/2014 - 19:36 | 4619178 RMolineaux
RMolineaux's picture

At first I thought it may have been a simple clerical error at the Kazahkstan branch.  But with JPM now saying it is looking for clarification from the government, it is clear that it was no error, but rather a planned test provocation. 

Fri, 04/04/2014 - 03:56 | 4624074 cannonfodder
cannonfodder's picture

We are now witnessing the ugly reality that Christ saw when he took up a whip and drove the money changers out of the temple.  Too bad they were only beaten 20 centuries ago.  Now they will have to be dismembered.

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