Why Sanctions May Be The West's Most Powerful Weapon Against Putin And His Oligarchs

THE RUSSIAN PEOPLE -- DISSATISFACTION. THAT SAID, THE DISTANCE BETWEEN PUTIN AND HIS PEOPLE HAD A CROWBAR SHOVED INTO THE SEAM TODAY. WHEN THE FINANCIAL SANCTIONS AGAINST RUSSIA GOT TURNED UP TO 11.Why is Ukraine the West's Fault? ‘The Most Dangerous Man In The World’ PUTIN KNEW IN ADVANCE THAT HE WAS GONNA DO.  HE HAS BEEN LAYING THE GROUNDWORK FOR THIS FOR A LONG TIME.

HE KNEW THERE WOULD BE ECONOMIC SANCTIONS AGAINST HIM IF HE DID SOMETHING LIKE THIS. ONE OF THE WAYS THAT HE TRIED TO MAKE RUSSIA SANCTION  IN ADVANCE OF THIS INVASION, WAS BY BUILDING UP A HUGE PILE OF FOREIGN CURRENCY IN THE RUSSIAN CENTRAL BANK. BASICALLY AS A RAINY DAY FUND, SOMETHING THAT THE RUSSIAN GOVERNMENT COULD LIVE OFF OF FOR A LONG WHILE UNTIL THE REST OF THE WORLD CALM DOWN AND LET THEM -- RESUME BUSINESS AS USUAL. THEY BUILT UP A RESERVE CURRENCY FUND, BETWEEN 607 BILLION DOLLARS.  TODAY, RUSSIA LOST ACCESS TO ITS RAINY DAY FUND.

WHEN NEW SANCTIONS TARGETING NOT JUST MORE INDIVIDUAL RUSSIANS, NOT JUST MORE INDIVIDUAL RUSSIAN BANKS AND INSTITUTIONS, TODAY NEW SANCTIONS HIT THE RUSSIAN -- BET CENTRAL BANK. WHICH NEVER HAPPENED.

SANCTIONS ARE NEVER THAT STEEP THAT THAT MEANS IN IMMEDIATE  RUSSIA HAS NO ACCESS TO HIS CATCH RESOURCES. AND SURE, THEY STILL GOT THROUGH POLLS, THEY STILL HAVE THEIR OWN CURRENCY BUT AS OF NOW ARE RUBLE IS WORTHLESS.

THE RUBLE CRASH TODAY. LITERALLY DOWN TO ZERO. A RULE NOW IS WORTH LESS THAN A PENNY. THEIR NATIONAL CREDIT RATING IS DOWNGRADED OFFICIALLY TO JOHN. RUSSIA HAS  AND GAS, BUT THEIR OIL AND GAS TECHNOLOGY IS TERRIBLE.

IN PART BECAUSE THE COMPANIES ARE TERRIBLY RUN BY PUTIN CRONIES WHO RUN THEM LIKE ORGANIZED CRIME FAMILIES. THAT BASICALLY RUN THEM LIKE GANGSTERS.

RUSSIA'S OIL AND GAS INDUSTRY IS THE ONE INDUSTRY THEY'VE GOT, BUT THEY NEED WESTERN OIL COMPANIES IN ORDER TO COMPETITIVELY OPERATE THEIR ONE INDUSTRY. IN ORDER TO ACTUALLY FUNCTION IN THE MODERN SENSE.

WE'LL SAY GOODBYE THAT AS OF TODAY DIVVY BP THE, SINGALONGS FOREIGN STAKEHOLDER IN THE RUSSIAN ECONOMY PULLED OUT. AND THEY PULLED OUT OF THEIR  MULTI BILLION DOLLAR STATE IN RAS NAFTA.

IN SHORT ORDER, SHELL PULLED OUT FROM THE JOINT OPERATION WITH THEM AS WELL. EXXON IS APPARENTLY STILL THERE. SOMEONE SHOULD PERHAPS CHECK ON THAT. YEAH -- BUT BP AND SHELL PULLING OUT.THE RUSSIAN OIL GAS INDUSTRY WE.

RATHER THAN SEE WHAT WAS GONNA HAPPEN IN THE RUSSIAN MARKET TODAY, RUSSIA ACTUALLY DISCLOSE THEM ALL TO GATHER.  THEY DID NOT ALLOW THEIR STOCK MARKET TO OPEN. BECAUSE THEY KNEW WHAT IT WAS GONNA LOOK LIKE.

AND AGAIN, IT'S SORT OF GOOD NEWS, NIGHTMARE NEWS, HEARTENING IS, WORRYING NEWS. IT IS HEARTENING FOR UKRAINE, IT MUST BE TO SEE THE WHOLE WESTERN WORLD ACT -- IN A UNIFIED  TO STOMP ON RUSSIA ECONOMICALLY SO FAST.

I MEAN EVEN SWITZERLAND,  NEW THRIFT  THEIR LAND GOT IN THE SANCTIONS SAY, THEY NEVER DO THAT. YOU CAN IMAGINE ALL THE GALA GUARDS AND -- WHO MAY HAVE BEEN WORRIED ABOUT SANCTIONS ANYWHERE ELSE IN THE WORLD. THEY WERE SURELY COMFORTABLE THE KNOWLEDGE THAT WHATEVER THEY HAD TO GET OUT OF IT. THIS WAS BACK HALF OUNCE WOULD BE SAFE. SORRY, THE SWISS BANK ACCOUNT AS OF TODAY ARE FROZEN WITH NO WARNING. AND AGAIN, SWITZERLAND NEVER DOES.