"This is “an absolutely seismic development on so many different levels,” wrote London-based Standard Bank Plc chief economist Timothy Ash in a note. “It sends a strong message to Russia that the West is willing to go down the financial sanctions route -- unless it backtracks over Crimea and over broader policy towards Ukraine.” "Putin isn't going to take this. This is going to get real ugly.
Russia carries out wargames near Ukraine border, drawing a warning from Merkel.
Blowhard Kerry gives Russia until Monday to withdraw. I'm sure Putin's quaking in his boots. Kerry, Obama and their compatriots know their actions will create serious economic problems and possibly trigger an economic collapse. They're doing it on purpose.
Economic sanctions are immoral and ineffective at bringing about their stated goal.
"The theory behind sanctions is to hurt, immiserate and kill as many innocent people as possible in a country until its leadership caves in to U.S. demands. The theory behind it is mass murder or a situation of mass misery that’s intolerable. This theory is wrong and does wrong in targeting innocent people and in expecting that their misery will translate into a policy change of their government."Targeting Russia is especially stupid.
"Sanctions are wrong for the same reason that dropping a hydrogen bomb on Moscow would be wrong. They target innocent people. They are wrong for the same reason that attacking the Taliban government in Afghanistan was wrong, when bin Laden was the accused. They are wrong for the same reason that attacking Iraq was wrong when Saddam Hussein was the accused target. They are wrong for the same reason that bombing Libya was wrong when Gaddafi was the accused target."If passed, they will backfire. Putin controls the energy, he can sell it for gold or rubles, and the west can't do anything about it.
Bank run in Crimea.
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