Finland and Sweden End Neutrality
“Finland and Sweden” https://t.co/gi9TKGoRIc
— John Lounsbury (@jlounsbury59) February 28, 2022
GDP Forecasts Tumbling
Invasion of Ukraine expected to hit Russian economy harder than Eurozone, UK, US, and rest of world; but deterioration in GDP still expected everywhere nonetheless per @OxfordEconomics
@FT pic.twitter.com/BzLuOkcCet— Liz Ann Sonders (@LizAnnSonders) February 28, 2022
The US Dollar
On a day when the dollar was “supposed” to be up a lot, it has barely budged and IMPORTANTLY, is down against the Yuan.
— steph pomboy (@spomboy) February 28, 2022
MMT and the Ruble
This is the moment when MMT would say to Putin “print more rubles, it creates reserves”
— Daniel Lacalle (@dlacalle_IA) February 28, 2022
Gold-Backed Fiat Currency Does Not Exist
Gold up, US dollar up. Ruble crash.
There is no such thing as a gold-backed fiat currency.
— Daniel Lacalle (@dlacalle_IA) February 28, 2022
Bitcoin Fantasy
Bitcoin fantasy
1 All other monies will fail, incl gold
2 99% of wealth goes into bitcoin
3 ppl will need bitcoin
4 HODLers can give it to them, for $1000M per btc
5 so they can consume the wealthThe ideology has no room for production, producers, finance of production.
— Keith Weiner (@RealKeithWeiner) February 28, 2022
U-Turn by China?
China’s trying to both-sides this thing. Russia is their most important ally, but Putin’s actions are compromising their international standing and possibly their timetable for conquering Taiwan. https://t.co/e6xpdeDu6w
— Noah Smith 🐇🇺🇸🇺🇦 (@Noahpinion) February 28, 2022
Germany to Supply Ukraine with Weapons
RUSSIAN FOREIGN MINISTRY SAYS GERMANY’S DECISION TO SUPPLY UKRAINE WITH LETHAL WEAPONS IS ‘OUTRAGEOUS’
— *Walter Bloomberg (@DeItaone) February 28, 2022
Paying Back Debt
The reason you pay your debt is so you continue to have market access. But if market access is cut off anyway, what’s Russia’s incentive to pay its debt? https://t.co/GtwWgA0Yjr
— Axel Merk (@AxelMerk) February 28, 2022
When the US and EU cut off Russia from the SWIFT payment system, Russia cannot pay its debt.
This creates a demand for US dollars and some have suggested the Fed step in. The idea is not to aid Russia but to aid companies in the US and EU that Russia owes.
I suspect this is the second reason Putin did not expect to be cutoff from SWIFT. The first reason is the EU’s, especially Germany’s dependence on Russia’s natural gas.
Thoughts on China
Is Putin now proving ground war invasion obsolete?
People everywhere won’t tolerate it, buy your vodka.
Resist not evil? Simple, don’t shop there.
China cannot afford to loose customers.
A wake-up call for Xi?
— Greater Community Building is Local Planet Work (@tomchristoffel) February 28, 2022
Beijing Says Russia and China Not Allies
Beijing Says China and Russia Are Not Allies https://t.co/bFhsNnn4OY
— John Lounsbury (@jlounsbury59) February 28, 2022
Even Switzerland Joins the Sanction Parade
Over 20 thousand people protested in Bern, Switzerland cause the government didn’t not put sanctions on Russia yet. #Ukraine #RussianArmy #Russia pic.twitter.com/D96F9cwAoT
— RickieLeakz (@rickieleakz) February 27, 2022
⚡️Switzerland adopts EU sanctions, freezes Putin’s assets.
Switzerland broke its historically neutral status to adopt EU sanctions against Russia over its war on Ukraine.
— The Kyiv Independent (@KyivIndependent) February 28, 2022
https://twitter.com/disclosetv/status/1498291834153586688
Protests in Moscow
Protests against Russia’s invasion of Ukraine erupted in Moscow this evening, after the Kremlin put out an ominous threat to anyone thinking of protesting.
Looks like everyone has had enough of Putin! pic.twitter.com/TPV2YGNIjP
— Arctic Friend (@FriendEden100) February 27, 2022
Putin Seems Delusional
Bear in mind, delusional is dangerous.
— Mike “Mish” Shedlock (@MishGEA) February 28, 2022
Did he fail to understand or was he overconfident that Europe and the US would not pull the SWIFT trigger.
The US and especially the EU ruled out Swift initially. Also Russian payments to US and EU are via SWIFT. That is on top of NG.
Nonetheless, I think Putin is delusional.
— Mike “Mish” Shedlock (@MishGEA) February 28, 2022
Switzerland’s move is a unique break from its decades-long policy of strict neutrality.
Nearly the whole world is now united against Putin.
In case you missed it, please see Russian Ruble In a Freefall, Plunges to Record Low Against the Dollar
This post originated on MishTalk.Com.
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Mish
And they will be the ones wearing the best radiation suits, I guess?!
sons and husbands to certain death. Putin makes us lie and puts us in
danger.
We were isolated from the whole world, they stopped
buying oil and gas. In a few years we will live like in North Korea.
What is it for us?
To put Putin in the textbooks? This is not our
war, let’s stop it! This message will be deleted, and some of us will
be fired or even jailed. But we can’t take it anymore.
Indifferent journalists of Russia.”