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Putin Fires Warning Shot - Russia May Bar Firms Using Foreign Banks

Tyler Durden's picture




 

With the cease-fire on shaky ground in Ukraine, and the ongoing proxy war between the US and Russia growing in intensity (once again ignited in Syria); it seems Putin has fired a significant warning shot across the bow of the west. Reuters reports that Russia is considering banning state companies and other strategically important firms from holding accounts at foreign-owned banks. As Liberty Blitzkrieg's Mike Krieger notes if this actually happens, it would be a very big deal, and certainly an escalation in the friction between these two geopolitically crucial nations.

 

We learn from Reuters that:

MOSCOW, June 24 (Reuters) – Russia is considering banning state companies and other strategically important firms from holding accounts at foreign-owned banks, a governmental source familiar with the proposals told Reuters on Tuesday.

 

“Such an idea is lingering, but there is no decision about it as yet,” the source said.

 

Analysts doubted that the plan would be adopted, saying it would be highly damaging for Russia’s investment climate and would face opposition from major companies.

 

Earlier on Tuesday Russia’s Kommersant newspaper reported that the Finance Ministry had prepared legal amendments that would bar state companies, as well as strategically important private firms.

 

The Finance Ministry declined to comment.

 

Under the proposals, all state-owned companies would be allowed to have accounts only at Russian state-owned banks, or at privately-owned Russian banks with capital of at least 16.5 billion roubles ($483 million), Kommersant reported.

 

The restrictions would also apply to privately-owned companies that were significant for Russia’s defence or security, as defined by an existing law on foreign investment in strategic companies.

 

“Definitely this would decrease the attractiveness for foreign investors in the banking sector, because a large part of Russian companies are deemed strategic and this is increasingly so,” said Vladimir Osakovsky, chief Russia economist at Bank of America Merrill Lynch.

 

“Let’s see if it will be approved or not. I think it is unlikely because it is a negative move from the investment climate perspective.”

 

Russia has been mulling steps to reduce its vulnerability to Western sanctions over the Ukraine crisis, which has raised fears that Western countries could freeze Russian assets abroad.

Because of the negative implications to the global economy, and Russia in particular, I doubt this will be adopted in the near future. However, the fact that this idea is even being circulated, is important in its own right.

Full article here.

 

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Wed, 06/25/2014 - 08:26 | 4892535 PartysOver
PartysOver's picture

JUst Putin giving Obama a little love tap.  Nothing major.  YET.

Wed, 06/25/2014 - 08:52 | 4892654 Squid-puppets a...
Squid-puppets a-go-go's picture

sometimes its advantageous to, yknow, sacrifice a pawn or two

Wed, 06/25/2014 - 09:58 | 4892975 Oracle 911
Oracle 911's picture

I bet, China is silently implementing the same policies as Russians talk about.

And I bet, Russians are already halfway done with this. I mean the Russians holdings in western banks are record low. So if they implement this, it will be just an official declaration of the real state of things.

Wed, 06/25/2014 - 11:34 | 4893491 emersonreturn
emersonreturn's picture

could someone help me?  rosneft and gazprom are both held on the london xchange, how would this impact those stocks?  thank you.

Wed, 06/25/2014 - 08:28 | 4892538 buzzsaw99
buzzsaw99's picture

nobody can defeat our joo bankers, not even russia

Wed, 06/25/2014 - 08:31 | 4892541 Oldwood
Oldwood's picture

What makes you think they don't have their own?

Wed, 06/25/2014 - 08:34 | 4892554 buzzsaw99
buzzsaw99's picture

ours are still better, smarter, faster. [/sarc]

Wed, 06/25/2014 - 08:41 | 4892575 intric8
intric8's picture

and look at the mess they got us in. At this point i'm prefering the monetary practices of old europe.

Wed, 06/25/2014 - 08:45 | 4892582 Volkodav
Volkodav's picture

Head of Russian Central Bank is Elvira Nabiullina, a Tatar.

Long time trusted in the Putin Administration.

Different ancestors.....

Wed, 06/25/2014 - 09:09 | 4892740 bobnoxy
bobnoxy's picture

If there's enough money in it, they'll go along with anything. They don't care who, just how much.

Wed, 06/25/2014 - 11:32 | 4893482 RaceToTheBottom
RaceToTheBottom's picture

That is the truth.....

Wed, 06/25/2014 - 10:47 | 4893247 Freddie
Freddie's picture

https://www.youtube.com/watch?feature=player_detailpage&v=RmBrCQSABqU

http://www.syrianperspective.com/2014/06/the-caliphate-from-the-abyss-wh...

98 luft Balons says: June 25th, 2014 at 4:41 AM [Level 8 - Legatus Legionis]

The downed Banderastan helicopter rumored to contain: 2 SENIOR CIA staff, 7-8 American PMC (Blackwater, Academi) + a high-ranking UKR general
http://www.youtube.com/watch?feature=player_detailpage&v=RmBrCQSABqU

25 June 2014, 12:02

Mi-8 shot down near Slavyansk was carrying Ukrainian secret police officers
Read more: http://voiceofrussia.com/news/2014_06_25/Mi-8-shot-down-near-Slavyansk-w...


Read more at http://www.syrianperspective.com/2014/06/the-caliphate-from-the-abyss-wh...

Wed, 06/25/2014 - 14:37 | 4894509 ChiangMai
ChiangMai's picture

Also, for what it might be worth, more on the Mi-8, and a link to a PravoSudiya.net article (in Russian), at this comment yesterday at Igor Strelkov's Combined Briefings, June 24, 2014 at The Vineyard of the Saker.

Excerpt:

"Allow myself to clarify preliminary data, adding to them the data from my informed sources. Refinement first. Since all the dead soldiers named, it is easy to assume that the helicopter belonged to the Armed Forces of Ukraine. It was confirmed. 

"In addition, one of the killed soldiers held a high position and wore high, apparently, a General, a rank. 

"Two more were killed senior staff (not just field agents) CIA. 

"The remaining seven or eight - all U.S. citizens - members of the American private military company. To avoid misunderstandings: not just typed in different countries with pine forest on the American employees of PMCs, and the Americans." 

 

 

Wed, 06/25/2014 - 08:29 | 4892539 Oldwood
Oldwood's picture

The escalation of hostilities.

The only true growth industry in the world today.

Wed, 06/25/2014 - 08:33 | 4892549 youngman
youngman's picture

Just a repeat of the 30s...protectionism is on again

Wed, 06/25/2014 - 08:32 | 4892550 yogibear
yogibear's picture

Putin playing it smart. Joining with other countries to oust the fiscally irresponsible Federal Reserve and Obama.

 

Wed, 06/25/2014 - 08:33 | 4892551 Hannibal
Hannibal's picture

Small Russian Village Saurovka and the Banderovite Abominations

There is in Donbass an itty-bitty village – Saurovka. It’s right next to the Saur-Mogila Mound memorial. The Ukie army, being a direct successor to Hitlerite Wehrmacht, terribly hates Saur-Mogila, as it is a symbol of Russian valor in the Great Patriotic War. All the time their artillery and mortars lob shells directly at the memorial. But they cannot get any closer. On and around the Mound our fighters lie in wait. However, I am not here to talk about the defence of the memorial or of the [strategic] height.

I will talk about the little village of Saurovka. It’s really small. There are only 50 or so houses [in the entire settlement]. One day, the pravoseki [Right Sector militants] came there. NazGuard [National Guard], Azov-2 and Dnepr-2. And then they instilled European values in the village. They cut out[, murdered] all the men. They would cut them alive. They would cut the arms, then the legs. Then the head.

They did not cut the women – they raped them. And now they continue [to rape them], during the pauses between battles. Doubtlessly, the various fanboys of Europe and the Maidanites will say that these are made-up fairy tales. Nevertheless, all [that I said] is true. So, Messrs. Lyashko and Poroshenko, what was it that you were bleating about? A ceasefire? Something about how we need to disarm? There were no weapons in Saurovka …
Take note, chocolate baron, truth is on our side, and, one day, we will come for you. Yes, you, personally!

The forested area around Saur-Mogila continues to be replenshished with the fresh dead.

The pravoseki are inhuman not only toward the Donbass residents. Even their own they consider nothing but garbage. They don’t bury them properly. They do not care. They throw some earth on them, and the job’s done. The green of the forest [is soaked] with the smell of dead flesh. Sometimes they even leave their guns with the dead. Why care, right? Amreeka sponsors them, they’ll throw something new their way or buy [weapons] from some Poles.

They lob cluster shells at our guys. Not made in Ukie-stan. The shrapnel is such that, if it catches you, it will rip you up so that you can’t heal. A few days ago, militia fighters got a woman sniper with an “Utyes” [Note 1: NSV-12.7 “Utyes” machine gun]. Hello Poland! The girl was from there. She had the newest American automatic rifle 12.5mm calibre. We could not use the rifle. The heavy machine gun “Utyes” destroyed the [weapon].

I have a feeling that the Saur-Mogila Mound memorial is again becoming a symbol of Russian valour in the struggle against fascism. A few day ago, the Nazis refused to attack our strategic heigh, and the pravoseki then starting shooting at their own – to whip up the attack.

But then those [who were fired upon] got upset and started shooting back. Our fighters, looking from above, found this highly entertaining. If only the circus came by more often! However, this circus is not going to last long. Very soon we will push the Ukie-nazis out, from the outskirts of Saur-Mogila as well as from other places. Prepare your white shoes [Note 2].

http://vineyardsaker.blogspot.com/2014/06/ukrainian-successors-to-hitler...

Wed, 06/25/2014 - 09:10 | 4892748 Bioscale
Bioscale's picture

I'm afraid it's getting too late for the Ukraines in the west to wake up and fight back agains Kiev, just like americans they got dumbed down and overhelmed by oligarchs. Both are going to pay for it, a lot.

Wed, 06/25/2014 - 10:39 | 4893216 tonyw
tonyw's picture

Caution: whilst the ukrainians have and continue to commit atrocities such as shelling towns and vilages (despite the "ceasefire"), cutting off water and power, this latest report is unverified with no photos or videos.

here's a video showing some resistance/freedom fighters/rebels/terrorists

http://youtu.be/JOHNVzXGOEE

Wed, 06/25/2014 - 08:35 | 4892556 Dr. Engali
Dr. Engali's picture

It's surprising that any Russian firm wants to hold assets in foreign accounts after the events in Cyprus.

Wed, 06/25/2014 - 08:37 | 4892563 buzzsaw99
buzzsaw99's picture

their shit is fixing to get corzined if they don't move it

Wed, 06/25/2014 - 08:48 | 4892627 richsob
richsob's picture

Really? Have you ever tried to conduct business internationally through a Russian bank? Have you? Try it and get back to me. We had accounts at two Russian banks in St. Petersburg and the level of service was horrendous. So we opened a third account in Moscow at a third bank. Same thing. Fair or not, Russian banks have a TERRIBLE reputation internationally because (1) they deserve it and (2) getting a Russian bank to follow through on its promises is a full time job....which is a waste of time. They do serve a valuable domestic purpose.

Wed, 06/25/2014 - 09:19 | 4892758 Bioscale
Bioscale's picture

Sounds it's like on purpose. Why I'm not wondering?

Additionally, Russians bought at least one bank in Europe recently, austrian Volksbank, now Sberbank. I expect more such deals to come.

Wed, 06/25/2014 - 12:53 | 4893924 richsob
richsob's picture

Why would they do it on purpose?  We had large deposits at the banks.  We had Russian partners (who were as pissed off as we were at the treatment).  And we have impecable credentials and references from several large banks in the West.  It's just incompetence.  They are unsophisticated as hell and the penalty for nonconformance is nowhere to be found.  They pay these people shit money and get shit talent.  Sorry, but it's a fact: Russian banks are not capable of performing the range of services that large banks in England, the U.S., France, Germany, etc. routinely perform.  It's just a fact.  That's why a lot of Russians aren't going to like it if Putin makes them use only Russian banks.  He'll never do it; he's not that stupid......it's just talk.

Wed, 06/25/2014 - 08:36 | 4892560 Incubus
Incubus's picture

My, quite the stretch in thinking.

 

Forgotten in this claim is that banking is inherently parasitic towards productivity and wealth (for us, not them.)

 

"I don't wants me to be on thems farm over there; I loves me massa's farm!"

Wed, 06/25/2014 - 08:37 | 4892562 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Bring it on!

Wed, 06/25/2014 - 08:37 | 4892564 intric8
intric8's picture

Inverse sanctioning. Why not? Keep it local. No point placing cash into the hand that rattles a saber at you.

Wed, 06/25/2014 - 08:40 | 4892572 Reaper
Reaper's picture

Why deposit your money where they can just take it? Maintain minimal amounts, if necessary. Is Obama going to throw a tantrum?

Wed, 06/25/2014 - 08:49 | 4892609 Ivan Nokabolokov
Ivan Nokabolokov's picture

Why do Americans allow their money supply to be controlled by a private cabal which milks them for everything they've got? Doesn't make sense. It's like allowing the Italian Mafia to do it. Disband the Federal Reserve, and it's board of governors (nearly all members of the same cabal), and bring it back to ownership by the people. It's their money.

Wed, 06/25/2014 - 09:00 | 4892687 Incubus
Incubus's picture

Because, my boy, Americans, and any average "citizen" of any country are largely usless outside of their labor. 

 

They don't ponder their own fate or actions.  It's all laid out before them and they go along with the flow.  The cull is usually a surprise for them, but they ignored all the people telling them that they're headed for the slaughterhouse for so long; they deserve what they get.

 

If a man doesn't have the spine to be his own life arbiter, he deserves everything that comes to him.  Go on, accept the world laid out before you. 

 

Just don't say that you were never warned.

Wed, 06/25/2014 - 09:11 | 4892753 shovelhead
shovelhead's picture

This is not a bad idea.

Lets get someone to sponser a bill in the House.

*crickets*

Wed, 06/25/2014 - 10:20 | 4893126 gcjohns1971
gcjohns1971's picture

Because we were conquered by Oligarchs long ago.

The Civil War that we are told freed some Americans, in fact enslaved all but a few Americans.  The Civil War was the impetus for the 'National Banking System' that made it possible for the Federal Reserve to exist.  Prior to it, we had banks as independent businesses who trusted one another primarily through individual agreements after the delivery of specie (a.k.a. Gold and Silver). 

Paper was for local transactions.  Paper was a check.   Specie is what they used to clear the check.

After establishment, bank paper (including Treasury Paper "Green Backs") were cleared through a system of regional banks who acted as clearing houses.

Unfortunately those banks often didn't honor their reserve requirements, causing a lack of clearance at the clearance bank, and leading to bank runs when people realized that their depositied specie had been loaned in full to multiple people on a fractional reserve basis - ergo was gone.

The purpose of the Federal Reserve was to prevent that by ensuring that the Fed could provide the biggest banks - the Fed's bank owners - with ANY amount of paper.  But that didn't work so long as paper was convertible - which is why within 20 years of it existence it stopped being convertible.

 

Since then we can vote.  But regardless of the vote's outcome the Oligarchs do what they want.

Voting is impotent with them.

Nothing short of a total societal collapse or a revolution (and probably not a revolution) can dislodge them at this point.

Wed, 06/25/2014 - 10:47 | 4893250 Chupacabra-322
Chupacabra-322's picture

This is in response to the post about the Pentagon Black Ops being responsible for incidents in Ukraine. To find the answer to that and many more ask the general who deploys the US military because he told it to an open Congressional session.

General Martin Dempsey says, "we are invited in" Remember those words, a nations sons and daughters are put in harms way because of an invitation.
Read it and then listen to it for yourself.
So ask the Joint Chiefs the question, "Did Ukraine invite the US military to blow up a pipeline for them?" Start asking the right questions.

Joint Chiefs, General Martin Dempsey: when asked on what authority the US military is deployed, he said (addressing Senator Sessions in Congress), "We act with "authorized" military force either with the consent of a government, we are invited in, or out of national self defense... and the last one is some international legal basis, an UNSCR (United Nations Security Resolution)."
Leon Panetta's testimony goes on to say that NATO authorizes the US military.
Panetta did not say who was in charge of NATO on that day or any other particular day for that matter.
http://www.youtube.com/watch?v...

WHO IS REALLY IN CHARGE (of this perpetual institutionalized violence)?
I call it that because I find no other words for it.

According to the research of American historian, author and speaker Eustace Mullins, it is my conclusion that all directives and dictates to the government of the United States of America and America's controlling (alleged charitable) foundations and educational institutions originate from the City of London (The City), Chatham House, Number 10 St. James's Square also known as the Royal Institute of International Affairs.

Eustace Mullins:

"A number of popular books now in circulation claim that the

Council on Foreign Relations is the secret government of the United

States. Nothing could be more incorrect. The members of the Council

on Foreign Relations have never originated a single item of policy for

the U .S. Government. They merely transmit orders to our government

officials from the RIIA and the House of Rothschild in London. It is

true that the CFR comprises a ruling elite in the United states, but they

are mere colonial governors absolutely responsible to their overseers

in the World Order. However, every prominent American mentioned

in the present book is a member of the CFR, and therefore it is not

necessary to note it each time a name is mentioned. Not only do they

transmit orders to the White House, the Cabinet, the Federal Reserve

Board of Governors, and other government institutions, but they also

maintain absolute control" of the foundations, whose duty it is to

formulate policy or organize it in an acceptable form to

the government. Shoup's "Imperial Brain Trust", 1969, notes that the

CFR includes 22 trustees of Brookings Institution, 29 at Rand, 14 at

Hudson, 33 at Middle East Institute, 14 of 19 trustees of the Rockefeller

Foundation, 10 of 17 at Carnegie, 7 of l 6 at Ford Foundation, 6 of 11

at Rockefeller Bros. Fund. This proves that the CFR runs these major 52

foundations. In the academic world, CFR members number 58 on the

faculty at Princeton, 69 at the University of Chicago, and 30 at

Harvard. Of the banks which are the principal owners of Federal Reserve

Bank stock, directors of Chase include 7 CFR members, 8 at J. P. Morgan, 7 at

1st Natl. City (now Citibank), 6 at Chemical Bank, and 6 at Brown Bros. Harriman."

~page 52-53, World Order (Our Secret Rulers) written by American historian, author, and speaker Eustace Mullins.

https://archive.org/details/Eu...

Wed, 06/25/2014 - 12:04 | 4893478 ThirteenthFloor
ThirteenthFloor's picture

Good post.  Yes follow history, you will find the Empire left Rome to the swamps of Venice and eventually land in UK.  Shortly after the revolutionary war, the US could not remain outside of Empire control.  Quickly Aaron Burr got Jefferson to allow foriengers to legally own US land, "The Holland Company" purchased what is now "Wall Street". The roots of Empire now get into the US.  Then Aaron Burr needed to eliminate Hamilton, so the US would not have a credit system, but a debt system modeled after the central Bank of England. Once in control of finance, US was effectively under Empire control.  Anybody (attempting to reign that in Lincoln or Kennedy, i.e., greenbacks or silver certificates, back to the soverign level) ends up dead.

 

Postscript:  Aaron Burr became the Legal Counsel for the "The Holland Land Company", after his duel with Hamilton.  Sound contemporarily familiar.

Wed, 06/25/2014 - 12:07 | 4893690 Freddie
Freddie's picture

Don't forget President McKinley.  He was for bi-metalism which was backing paper money with gold and silver.   They also tried to kill Andrew Jackson moe than once.

Wed, 06/25/2014 - 08:55 | 4892668 grekko
grekko's picture

Nuke the FED and cut off JPM and goldman at the knees.  End of problem.

Wed, 06/25/2014 - 09:01 | 4892691 Incubus
Incubus's picture

yes... nuking.  Want to know how I know that you're American?

 

 

Wed, 06/25/2014 - 09:15 | 4892781 shovelhead
shovelhead's picture

A lazy American.

A professional American knows, if you work it right, you can get at least 10 years out of a War On Anything.

Wed, 06/25/2014 - 10:44 | 4893237 tonyw
tonyw's picture

it's the american answer to everything, nuke, bomb, shoot it

leaking oil well - nuke it

couple of ragheads - bomb them back to the stone age

not wanting to use petrodollars - overthrown them, preferably with shock and awe

 

Wed, 06/25/2014 - 12:19 | 4893747 ThirteenthFloor
ThirteenthFloor's picture

I prefer slow torture to a quick death, just tell them US Citizens do not pay speculative debt instruments.  They will burn slowly on the grille.  Kind of an eye for eye solution.  I give Argentina some real credit they are staring down the barrel of a gun....

Wed, 06/25/2014 - 09:16 | 4892784 orangegeek
orangegeek's picture

yep - let the communist tell the capitalist how to run businesses

 

typically, these commie vermin say one thing to the media and do the opposite on the condition that no one reports it - so the big fat commie ego can live to bloviate another day

 

what's funnier is commie's attitude toward resources - there is more oil and natgas on this planet than water - but the MSM and oil corps push the opposite

 

can't wait for the day we hear about how much oil, natgas, gasoline, diesel and all other petro derivates are being stockpiled and not reported

 

should be soon

Wed, 06/25/2014 - 09:47 | 4892922 deepsouthdoug
deepsouthdoug's picture

At the core the old Russian Commies don’t understand the crony capitalism game - don’t fuck with the American Banksters!

Wed, 06/25/2014 - 10:07 | 4893024 Sorry_about_Dresden
Sorry_about_Dresden's picture

65% of the earth's surface is covered by water. 

What would make you think there is more oil and Nat. gas than there is water? The human body is composed of over 90% water! Think about it.

I find your comments extremely dubious which don't merit consideration. What a stupid comment.

-100

Wed, 06/25/2014 - 10:23 | 4893136 JohninMK
JohninMK's picture

Think they ment to say 'fresh' water.

Wed, 06/25/2014 - 21:33 | 4893460 Sorry_about_Dresden
Sorry_about_Dresden's picture

I am not going to guess at what he might have meant. I still think his comment is ignorant.

Wed, 06/25/2014 - 12:06 | 4893685 basho
basho's picture

this dude has been drinking too much orange crush and it has finally crushed his orange. LMOA

Wed, 06/25/2014 - 10:06 | 4893016 gcjohns1971
gcjohns1971's picture

This is not a tactic someone who favored non-arbitrary monetary policy would implement.

This is a tactic that someone who wanted to pressure others to use their paper would implement.

Wed, 06/25/2014 - 11:10 | 4893376 Bankster Kibble
Bankster Kibble's picture

This is probably also a tactic to rein in government ministers who like to invest out of Russia to hide their assets.  The Kremlin has been trying to reduce corruption for years, with limited success.  It is very bad at the regional level, where small and medium businesses have to survive.  This law also mandates income disclosures for everybody in the civil service, not just senior officers.  So the regional and city grafters will have to be a little more discreet in future.

Wed, 06/25/2014 - 10:13 | 4893063 WMM II
WMM II's picture

" Russia is considering banning state companies and other strategically important firms from holding accounts at foreign-owned banks, a governmental source familiar with the proposals told Reuters on Tuesday."

 

 

the kinda thing that makes you wanna replace the existing reserve currncy with the russian rubble.

 

:)

Wed, 06/25/2014 - 11:53 | 4893598 RaceToTheBottom
RaceToTheBottom's picture

One band of corrupt banksters replaced by another.  WINNER!!!!  Not

Wed, 06/25/2014 - 10:32 | 4893186 TweedleDeeDooDah
TweedleDeeDooDah's picture

This will create so many more opportunities for the foreign investment that Russia has been using (like a wheelchair and HIV cocktail) just to exist for the past twnety or so years....

Why shoot yourself in the foot? Cut it off. and hobble around angry at everyinew else because you did!

Wed, 06/25/2014 - 10:38 | 4893209 Sorry_about_Dresden
Sorry_about_Dresden's picture

This move would only hurt the Bank of International Settlement; the bank in Basel, Switzerland that laundered looted gold from NAZI occupied Europe. The Central Bank to all other Central Banks. The FRBNY is just an errand boy for the BIS.

Please read up people.

http://www.bis.org

http://www.telegraph.co.uk/finance/bank-of-england/10213988/Never-mind-t...

Wed, 06/25/2014 - 11:43 | 4893531 dudeman
dudeman's picture

Note that the largest owners in Russian firms are American mutlinationals. For example, the second largest owner in Gazprom is Exxon Mobil. Companies like Exxon Mobil, Chevron, etc have very large shares in Russian natural resource firms as the Russian firms are heavily reliant on American technology. Without it, they wouldn't be able to extract and profit from those natural resources.

Wed, 06/25/2014 - 11:54 | 4893610 emersonreturn
emersonreturn's picture

dudeman

 

i agree, bp and xom are banking on russian reserves.

Wed, 06/25/2014 - 12:10 | 4893699 viator
viator's picture

Watch Putin and his allies form an alternative world financial system, renminbi (trans: people's currency) based, then invite the wealthy to join.

Wed, 06/25/2014 - 12:15 | 4893726 basho
basho's picture

lot of hope and doubt it won't happen. LOL

no one, of course, had thought this would/could happen.

RU has nothing to lose by going this route.

Wed, 06/25/2014 - 12:27 | 4893786 no more banksters
no more banksters's picture

"The fact that Putin tries to nationalize the economy and the banking system completely, in an attempt to protect Russia from the expansion of the global neoliberal dictatorship, explains to a great extent why the international banksters have declared war against him."

http://failedevolution.blogspot.gr/2014/06/cold-war-20-dangerous-games-f...

Wed, 06/25/2014 - 12:45 | 4893874 Circle of DNA
Circle of DNA's picture

Last year, while vacationing in Geneva, I talked to a guy who worked for the banking industry most of his life and he mentioned that Russia is more than capable of implementing a much better banking system then anything currently available in the west. Perhaps, this could be the beginning of a new era...

Thu, 06/26/2014 - 01:53 | 4896796 IronForge
IronForge's picture

Sounds like TEAM_RUS is staying a few steps ahead of any Sanctions Lady_"Liberty", Seven Dwarves (G7), Seven Bankers(Fed Governors), and Seven Sisters (Petro-Hydra) plan on inflicting.

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