United States Treasury Secretary Janet Yellen recently commented that the seizure of hundreds of billions of dollars worth of Russian assets is not a legal issue, and claimed it’s justified because it “generated income for the institution,” establishing a questionable precedent for Americans and usury earned at banks.
After seizing frozen Russian assets from months ago, the U.S. and G7 leaders recently agreed that those seized assets could be used to fund Ukrainian operations in the form of a loan – assets that are worth roughly $300 billion. This is part of a much broader deal the U.S. made with Ukraine to fund and subsidize its operations for another guaranteed 10 years. SEE: Ukraine Signs 10-Year Defense Agreement With US At G7 Meeting, The ‘Strongest Agreement Since Ukraine’s Independence’ Even President Trump has said he is in favor of a loan to Ukraine, he said in April.
Roughly $50 billion of that will initially be allocated to Ukraine.
Russian President Vladimir Putin responded to this by calling it “theft,” and threatened much greater consequences and retaliation. Yellen was asked to respond to these claims. She claimed that “there is no sense at all in which it’s theft,” and claimed that interest accrued on them didn’t belong to them and is perfectly fine to take.
There is no sense at all in which it’s theft. The Russian assets remain in this institution, they’ve been impounded. The Investments that Russia have matured so Russia’s funds are sitting in cash, but they’re generating income for the institution which Russia has no claim on, so there’s no legal issue here.
Yellen retorted.
The implications of this statement extend beyond just seizing Russian assets and spending the interest earned on it. Lena Petrova, CPA, referred to Yellen’s statement as “Orwellian double-speak,” and warned of the great precedent this sets for Americans and anyone else who places their money in a bank or financial institution.
Our U.S. Treasury Secretary just said that […] the interest that your savings account generates is actually not yours to keep. Instead your savings account or any other investment that you hold in the financial institution actually works to generate revenue for that institution, not you.
So then, using her logic, by default there’s no issue in taking that money from you, it never will be, because it wasn’t yours to begin with.
She said
Petrova goes on to explain different ways people can diversify their wealth and assets in banks and other financial institutions.
AUTHOR COMMENTARY
This is just vile what this decaying sack of flesh just said on national television. Read between the lines: she’s made it crystal clear that usury – and that is true biblical term for it – is not yours, it’s the bank’s and the institution’s. If the U.S. and G7 nations are willing to do this to an entire country, let alone Russia, what’s that say for you and I?
In other words, “You’ll own nothing and be happy.”
To quote the parable of the pounds and the parable of the talents:
Luke 19:22 And he saith unto him, Out of thine own mouth will I judge thee, thou wicked servant. Thou knewest that I was an austere man, taking up that I laid not down, and reaping that I did not sow: [23] Wherefore then gavest not thou my money into the bank, that at my coming I might have required mine own with usury?
Matthew 25:26 His lord answered and said unto him, Thou wicked and slothful servant, thou knewest that I reap where I sowed not, and gather where I have not strawed: [27] Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury.
But I guess now the U.S. – the so-called purveyors and gifters of “rule of law” and “freedom and democracy” – is saying that the interest accrued is not yours but the bank’s and the exchanger’s. So what’s the point of having money in the bank in the first place, Granny Yellen? Ms. Yellen, as the Treasury Secretary and former Chair of the Federal Reserve, surely you know how a bank works.
The Lord has something to say about this:
Ezekiel 22:12 In thee have they taken gifts to shed blood; thou hast taken usury and increase, and thou hast greedily gained of thy neighbours by extortion, and hast forgotten me, saith the Lord GOD. [13] Behold, therefore I have smitten mine hand at thy dishonest gain which thou hast made, and at thy blood which hath been in the midst of thee. [14] Can thine heart endure, or can thine hands be strong, in the days that I shall deal with thee? I the LORD have spoken it, and will do it.
Severe judgment and destruction is headed for the United States, and deservedly so.
For now in the short run, Yellen’s draconian speech reaffirms why you need to keep your money outside of the banks. Not only are most of them insolvent and ready to implode because of commercial real estate overexposure and unrealized losses on their books, Yellen has set the precedent that the pennies you were earning at a bank are not really even yours to collect. Keep enough money in your account to maintain the minimum balance, pay bills, run a business, and make online purchases; but most of it you need to hoard underneath your mattress or a safe, or wherever you hide your possessions.
Psalm 15:5 He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.
Proverbs 28:8 He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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Mamdani’s vision is fundamentally democratic, albeit in a radically expanded form.
Zohran Mamdani’s stance on Israel-Palestine is one of the most consequential aspects of his foreign policy.
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It’s the news that acknowledges that the world is a stage, and the play is a farce. — Toni @ Satire.info
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