Archived material Access restricted Article
Rantburg

Today's Front Page   View All of Thu 04/07/2022 View Wed 04/06/2022 View Tue 04/05/2022 View Mon 04/04/2022 View Sun 04/03/2022 View Sat 04/02/2022 View Fri 04/01/2022
1
2022-04-07 Caucasus/Russia/Central Asia
US Sanctions Putin’s Daughters, Russian Banks
Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.
Posted by Fred 2022-04-07 00:00|| || Front Page|| [7 views ]  Top
 File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats 

#1 They look heartbroken. Poor lasses.
Posted by Dron66046 2022-04-07 06:14||   2022-04-07 06:14|| Front Page Top

#2 They look heartbroken.

Not for long. When they're introduced to Goldman Sachs, they will learn that they and the rest of the Russians can make windfall profits trading Russian debt thanks to the Biden Administration's carve outs for western banks and hedge funds. (Stay away from that animal who calls himself "Hunter", though)
Posted by Lampedusa the Cheap8426 2022-04-07 07:19||   2022-04-07 07:19|| Front Page Top

#3 Blood is thicker than water.

Money is thicker than blood.
Posted by M. Murcek 2022-04-07 07:24||   2022-04-07 07:24|| Front Page Top

#4 Goldman are telling clients they can make a killing by scooping up Russian bonds at artificially low prices.

They can also make a fortune by shipping Russian wheat. Russian wheat shipments were up 60% in March. Volumes are increasing and prices are soaring, and Russia is taking over Ukraine's market share.

This is because Russia's victories in the South and East have made Ukraine effectively a landlocked nation; they cannot export anything through the Black Sea. There are rail lines but they cannot handle more than a tiny fraction of the volume demanded by countries like Egypt, Turkey, Iran, Libya, and Israel. Russia has grabbed Ukraine's share of exports to those crucial markets.
Posted by Snimble Omatch6842 2022-04-07 07:55||   2022-04-07 07:55|| Front Page Top

#5 Goldman are telling clients they can make a killing by scooping up Russian bonds at artificially low prices.

They can also make a fortune by shipping Russian wheat. Russian wheat shipments were up 60% in March. Volumes are increasing and prices are soaring, and Russia is taking over Ukraine's market share.

This is because Russia's victories in the South and East have made Ukraine effectively a landlocked nation; they cannot export anything through the Black Sea. There are rail lines but they cannot handle more than a tiny fraction of the volume demanded by countries like Egypt, Turkey, Iran, Libya, and Israel. Russia has grabbed Ukraine's share of exports to those crucial markets.
Posted by Snimble Omatch6842 2022-04-07 07:55||   2022-04-07 07:55|| Front Page Top

#6 And they can.
Posted by M. Murcek 2022-04-07 07:56||   2022-04-07 07:56|| Front Page Top

#7 And they can.
Posted by M. Murcek 2022-04-07 07:56||   2022-04-07 07:56|| Front Page Top

#8 Apologies for the duplication.

Anyway Russia is taking over Ukraine's vital export markets. Wheat, coal, steel, sunflower oil: even if the EU tries to rebuild Ukraine's infrastructure that's been completely destroyed, Ukraine will not be able to ship through the Black Sea any longer. As well, Russia has taken control of the lands in the East that have extensive reserves of natural gas.

For these reasons investors in Switzerland, New York and London (also Dubai) are buying up heavily discounted Russian debt from Goldman, JPMorgan and other US brokers. As the poster above said, it's entirely legal, and it is enabling Russians and others to lock in enormous profits.
Posted by Snimble Omatch6842 2022-04-07 08:03||   2022-04-07 08:03|| Front Page Top

#9 "And they can"

If by "they" you mean Russia, yes that is correct. Ukraine's remaining Black Sea ports are closed, their harbors are mined. By contrast Russia's ports are open for business and are "very busy," according to the leading consultancy focussed on Ukrainian and Russian grain exports, SovEcon.

Another consultancy reports that "export vessels are being loaded at all five Black Sea grain terminals after a pause of 7-10 days at the beginning of the conflict....The export pace is so hot that SovEcon recently upped its forecast for the country’s March wheat shipments from 1.3 million tonnes (Mt) to 2Mt due to the strong export demand. That expectation was supported by IKAR last week, which announced it now expected March wheat exports to exceed 2Mt. While freight rates are substantially higher, so too are global prices."
Posted by Snimble Omatch6842 2022-04-07 08:18||   2022-04-07 08:18|| Front Page Top

#10 They is a critical mass thing. If you have the money, you have the entre.
Posted by M. Murcek 2022-04-07 08:19||   2022-04-07 08:19|| Front Page Top

#11 Ah so you mean the Russian politicians and the oligarchs. Yes, those are some of the private banks' best customers. Most of Putin's money is in Switzerland. Most of their trading is done through houses like Goldman Sachs.

They also own oil trading companies in Switzerland too. Also trading companies for wheat and other commodities. The US sanctions aren't going to hurt them much.
Posted by Snimble Omatch6842 2022-04-07 08:24||   2022-04-07 08:24|| Front Page Top

#12 I mean anyone. who. has. the. money. dipshit. The vast majority of the world's illegal wealth isn't sourced in Russia.

Trolls gonna troll. Doesn't mean we have to buy it.
Posted by M. Murcek 2022-04-07 08:27||   2022-04-07 08:27|| Front Page Top

#13 The ruble is soaring today. Russia announced it will make its interest payment in rubles.

The ruble hit 77 an hour ago. Up about 8% today, above the February level. Looks like investors are OK receiving their interest payments in rubles.
Posted by Lampedusa the Cheap8426 2022-04-07 08:37||   2022-04-07 08:37|| Front Page Top

#14 WooHoo. I have dollars and I'm not going to Ekaterineburg.
Posted by M. Murcek 2022-04-07 08:42||   2022-04-07 08:42|| Front Page Top

#15 "dipshit"?

Is that supposed to be an attempt at an insult?

@Lampedusa: The Chinese and Indians are supporting the ruble. Africans as well.

It's very easy to get around the sanctions. The Biden Administration created so many loopholes that anyone with a correspondent bank and a connection to a broker like Goldman can evade the sanctions.
Posted by Snimble Omatch6842 2022-04-07 08:43||   2022-04-07 08:43|| Front Page Top

#16 If there's demand for rubles from sovereigns and big investors then the sanctions will fall apart. Word from traders in the City is the sanctions have become a joke. Russia's exporting even more than before the war and the Asian central banks and trading firms are on Russia's side.
Posted by Lampedusa the Cheap8426 2022-04-07 08:47||   2022-04-07 08:47|| Front Page Top

#17  "dipshit"?
Is that supposed to be an attempt at an insult?

These guys are sharp...
Posted by M. Murcek 2022-04-07 08:51||   2022-04-07 08:51|| Front Page Top

#18 Ruble's continuing to rise. Up 74.76% in the last month. Russia's making a killing (haha, bad joke, I know) by cutting off Ukraine's exports and by diverting their oil exports from the West to countries like India.
Posted by Lampedusa the Cheap8426 2022-04-07 08:54||   2022-04-07 08:54|| Front Page Top

#19 Rouble's almost a rupee now. Oooerr... we'll have to act prissy and ask for more discounts!
Posted by Dron66046 2022-04-07 08:58||   2022-04-07 08:58|| Front Page Top

#20 The currency trade is an ongoing thing. Long time players can tell you stuff.
Posted by M. Murcek 2022-04-07 08:59||   2022-04-07 08:59|| Front Page Top

#21 trolls

Putin is the ultimate troll.

Rubles for gas: Putin trolls the West over its energy addiction
Moscow is testing the West’s sanctions resolve over its weak spot: energy imports.
Posted by Slineling Chusong5031 2022-04-07 09:09||   2022-04-07 09:09|| Front Page Top

#22 I obviously need to "go get educated."
Posted by M. Murcek 2022-04-07 09:11||   2022-04-07 09:11|| Front Page Top

#23 I'll be honest. The more homely one looks "needy." The other one thinks she's Ivanka. I'll bet even Jared would slap her.
Posted by M. Murcek 2022-04-07 09:14||   2022-04-07 09:14|| Front Page Top

#24 #16 Word from traders in the City is the sanctions have become a joke. Russia's exporting even more than before the war and the Asian central banks and trading firms are on Russia's side.

This is correct. The rupee/ruble trading mechanism is being finalized. Bankers and investors are confident that they can accept ruble payments now and that the combined power of backing by China's yuan and Russia's gold will preserve the value of their ruble holdings. This is why the ruble is the best performing currency in the world now.

"De-dollarisation" is coming, much faster than expected. The Emirates just announced they're supporting Russia. All of OPEC plus all of the BRICS nations have a higher GDP than the EU. The West's sanctions are collapsing.
Posted by Slineling Chusong5031 2022-04-07 09:17||   2022-04-07 09:17|| Front Page Top

#25 "The City." They'd sell nukes and futures on their use if they could.
Posted by M. Murcek 2022-04-07 09:19||   2022-04-07 09:19|| Front Page Top

#26 So going after the families is a truly democrat event. We all pissed and moaned over the poor treatment of the Trump kids. What evidence do we have that they had anything to do with the invasion of Ukraine? Or are we going to just go after them for being born into a family? This whole going after the families and oligarchs is a bad move. If this continues we will see Bill Gates or other rich Americans getting arrested abroad every time The US does something in our best interests that the world does not like.
Posted by 49 Pan 2022-04-07 09:43||   2022-04-07 09:43|| Front Page Top

#27 City & Wall Street profits in the last month from exploiting sanctions loopholes that allow trading in derivatives and credit swaps on Russian debt:
Goldman Sachs $100m
JPMorgan $100m
Barclays $50m
Posted by Lampedusa the Cheap8426 2022-04-07 09:44||   2022-04-07 09:44|| Front Page Top

#28 Oh, they made money. It must be good.

Cripe.
Posted by M. Murcek 2022-04-07 09:45||   2022-04-07 09:45|| Front Page Top

#29 #26 If this continues we will see Bill Gates or other rich Americans getting arrested abroad every time

They're not getting arrested, they're getting even richer. All the oligarchs including the West's oligarchs are making bank from inflation and sanctions. The sanctions have holes big enough to drive a Mack truck through. You think that's not on purpose?

Guys like Bill Gates and Warren Buffett know how to turn hyperinflation to their advantage and they can easily bust sanctions without getting caught... or even breaking the law.

Gates is the biggest private landowner in the United States: he's making huge profits from spiraling food prices and the real estate landgrab. Gates and Buffett are collecting windfalls from all the freight charges for tar sands oil shipped on the train companies they own. Buffett bought a huge stake in Occidental Petroleum just before Putin invaded Ukraine.
Posted by Elmash Gravigum4644 2022-04-07 09:55||   2022-04-07 09:55|| Front Page Top

#30 Cripe. Rich people don't get arrested. If they actually might, they avoid jurisdictions they can't buy off.
Posted by M. Murcek 2022-04-07 09:57||   2022-04-07 09:57|| Front Page Top

#31 Buffett bought a huge stake in Occidental Petroleum just before Putin invaded Ukraine.

Interesting choice of oil company. OXY is the only oil major with zero exposure to Russia. Buffet's a smart guy.
Posted by Lampedusa the Cheap8426 2022-04-07 10:01||   2022-04-07 10:01|| Front Page Top

#32 Boofay bought that stake a long time ago.
Posted by M. Murcek 2022-04-07 10:03||   2022-04-07 10:03|| Front Page Top

#33 going after protecting their own corrupt families is a truly democrat event. FIFY
Posted by Ebbusolet the Fragrant8732 2022-04-07 10:05||   2022-04-07 10:05|| Front Page Top

#34 So going after the families is a truly democrat event.

Dems do it at the drop of a hat. saying "That's not us," is rank stupidity.

Any weapon your enemy uses is fair game.
Posted by M. Murcek 2022-04-07 10:06||   2022-04-07 10:06|| Front Page Top

#35 protecting their own corrupt families

It's money. The people handling it refuse to make a distinction.
Posted by M. Murcek 2022-04-07 10:09||   2022-04-07 10:09|| Front Page Top

#36 Short version: The West is screwing itself and will never recover from this own goal.

Long version: "We are witnessing the birth of Bretton Woods III – a new world (monetary) order centered on commodity-based currencies in the East that will likely weaken the Eurodollar system and also contribute to inflationary forces in the West.” – – Zoltan Pozsar, Former Federal Reserve and U.S. Treasury Department official, and now Credit Suisse Global Head of Short-Term Interest Rate Strategy based in New York.

In a note published earlier, Zoltan wrote this crisis is not like anything we have seen since President Nixon took the U.S. dollar off gold in 1971 – the end of the era of commodity-based money.

When this crisis is over, the U.S. dollar should be much weaker. From the Bretton Woods era backed by gold bullion, to Bretton Woods II backed by inside money (Treasuries with un-hedgeable confiscation risks), to Bretton Woods III backed by outside money (gold bullion and other commodities), Zoltan believes the global monetary system will never be the same post the crisis.
Posted by Slineling Chusong5031 2022-04-07 10:27||   2022-04-07 10:27|| Front Page Top

#37 When this crisis is over, the U.S. dollar should be much weaker.

Oh well. It was nice while it lasted. Should I brush up my mandarin?
Posted by Ebbusolet the Fragrant8732 2022-04-07 10:33||   2022-04-07 10:33|| Front Page Top

#38 Lotta typing one handed, IYKWIMAITYD
Posted by Frank G 2022-04-07 11:09||   2022-04-07 11:09|| Front Page Top

#39 Lotta typing one handed, IYKWIMAITYD

Heh. Murcek knows EXACTLY what you mean. For an old codger, he sure does a lotta wanking. Fill that milk bottle, Pappy!
Posted by Ebbusolet the Fragrant8732 2022-04-07 11:16||   2022-04-07 11:16|| Front Page Top

#40 Petroyuan, anyone? Here it comes:

Russia Coal and Oil Paid for in Yuan Starts Heading to China

Coal cargoes to arrive this month, followed by crude in May

China has long bristled at dollar’s dominance in global trade
Posted by Ebbusolet the Fragrant8732  2022-04-07 17:24||   2022-04-07 17:24|| Front Page Top

#41 #39 is an interesting comment. Rantburg's beloved Pappy didn't like me much. Why relate me to him here in your comment?

Guess it shows tthe trolls do have some background to work with, but it's apparently sorta fragmentary.
Posted by M. Murcek 2022-04-07 17:47||   2022-04-07 17:47|| Front Page Top

#42 "Pappy Murcek." Don't know about any other Pappy. Just pullin your leg 🤣
Posted by Ebbusolet the Fragrant8732 2022-04-07 18:00||   2022-04-07 18:00|| Front Page Top

#43 Real Pappy is spinning in his grave. He didn't like me at all.
Posted by M. Murcek 2022-04-07 18:05||   2022-04-07 18:05|| Front Page Top

#44 'S ok. Mammy never liked me either. (She liked Oedipus best)
Posted by Ebbusolet the Fragrant8732 2022-04-07 18:07||   2022-04-07 18:07|| Front Page Top

#45 You aren't earning your pay with this off topic stuff. Someone will check up on you. Get back to bad currency analysis.
Posted by M. Murcek 2022-04-07 18:09||   2022-04-07 18:09|| Front Page Top

#46 Were you the model for that cranky old fart on The Muppet Show? Statler, or maybe Waldorf?
Posted by Ebbusolet the Fragrant8732 2022-04-07 18:19||   2022-04-07 18:19|| Front Page Top

#47 The puppet Walter. That's me.

Posted by M. Murcek 2022-04-07 18:24||   2022-04-07 18:24|| Front Page Top

#48 I still have all my hair on top, though. Not big on sweater vests either. The rest is pretty accurate.
Posted by M. Murcek 2022-04-07 18:26||   2022-04-07 18:26|| Front Page Top

#49 🤣🤣
Posted by Ebbusolet the Fragrant8732 2022-04-07 18:28||   2022-04-07 18:28|| Front Page Top

23:54 Bugs Elmeremble9379
23:35 Bugs Elmeremble9379
23:32 Bugs Elmeremble9379
22:46 746
22:45 746
22:19 M. Murcek
22:12 M. Murcek
22:11 M. Murcek
22:08 M. Murcek
22:05 CrazyFool
21:55 CrazyFool
21:55 M. Murcek
21:53 M. Murcek
21:53 Bugs Elmeremble9379
21:53 CrazyFool
21:52 M. Murcek
21:45 swksvolFF
21:39 M. Murcek
21:32 SteveS
19:54 M. Murcek
19:44 swksvolFF
19:38 M. Murcek
19:36 swksvolFF
19:34 M. Murcek









Paypal:
Google
Search WWW Search rantburg.com