Western power brokers have schemed up a clever but deceptive structured product concept for their attempted theft of $300 billion in frozen Russian assets that they plan to use to fund a $50 billion "loan" to Ukraine. The glaring problem is that the structured product allows the West to steal the interest on frozen Russian assets.
"The way they're stealing the assets is a structured product," Rickards explained to Bannon, noting the similarities between this financial scheme and the one Western power brokers cooked up in 2008 to try to save themselves from the financial collapse.
"You go back to 2008 with all those garbage mortgages out there – how could you turn them into AAA securities? And Wall Street said 'hold my beer and I'll show you how to do it,' and they did, and of course it all collapsed."
As for the situation with the frozen Russian assets, the U.S. is basically trying to "lend" Ukraine $50 billion – backed by U.S. taxpayers, of course – by siphoning all the interest collected on the $300 billion in frozen Russian assets.
"The $300 billion is going to throw off about $13.5 billion in interest at 4.5 percent ... that's $67.5 billion in interest over five years," Rickards explained, breaking down the math.
"The interest on the $50 billion 'loan' is $2.25 billion per year, times five years is $11.25 billion, and you have to pay back the $50 billion in principle. So you are going to need $61.25 billion at the end of five years to pay back principle and interest on the loan. So we're going to steal $67 billion approximately from Russian interests and that's enough to pay for the $61.25 billion on the loan."
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In essence, the loan will be made; it will accrue interest; it will be repaid; and that repayment will come from Russian assets, which happen to be six times larger than the loan, at least for now.
"So it will produce enough interest to pay off the loan," Rickards says. "They're stealing the interest."
You can watch the full video interview with Bannon and Rickards at The Burning Platform.
(Related: Every move the West makes to try to punish Russia for its special military operation in Ukraine backfires like a boomerang.)
Time for Russia to drop the financial nuke
When the plot eventually fails – and it will – the Western financial house of cards will be shaken like never before. This is because all Russia has to do in response to this threat is to return the favor.
"They're going to seize European assets in Russia – oil, infrastructure, telecommunications, retail franchises, luxury goods, and a lot else," Rickards warns.
The really dangerous part, though, is how easy it will be for Russia to sue Euroclear, the clearinghouse that mediates all this in Europe, for wrongful conversion of assets.
"Russia will probably win and then take that judgment around the world to start seizing Euroclear assets," Rickards says. "Euroclear is a $40 trillion custodian. That will throw the global financial system into chaos."
Keep in mind that when this happens, Russia will not be the responsible party for the subsequent financial collapse. The West is responsible, having baked all this corruption into the financial s**t cake going back decades. Russia simply holds the launch button to deliver long-awaited judgment to the Mystery Babylonian system responsible for all these financial crimes against humanity.
The West is playing with fire concerning its relations with Russia. Learn more at Collapse.news.
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