It may appear to be a charade, but has anyone told UVDL? I expect she expects this to work.
Further, when this truly comes to a head and Ukraine actually runs out of money, the choice of "break laws, precedent, violate democracy" or "Ukraine loses", do you really think the former will be so important? They are all in, including the detractors
The interesting thought experiment is determining what exactly they can do even if they decide to break the law. There isn't a known mechanism they can use to force the Belgians to give up the money. They could potentially threaten Euroclear itself, but how? Any plan that involves forcing the EU to pay for loan itself will be shot down by the other members of the EC, so they need the Russian cash.
The EC has almost unlimited means of pressure over Euroclear, they could regulate them out of existence gradually if we came to that. But that is not a short term fix.
This is up there with fixing tinnitus by blowing your brains out. Euroclear is part of the foundation of European banking. It has 37 trillion euros worth of assets under management. It would seriously damage the system that provides the governments of Europe with funding, and given that many of these governments only continue to exist by borrowing ever larger sums of money, this is a non-starter.
I suspect this is where the bureaucrats really earn their keep. I have no idea how the ins and outs of Euroclear and so on actually work, but I bet UVDL & her allies have teams of people who know exactly which buttons need to be pressed, who has signing authority, who needs to approve, and so on. I criticize the EU sorts to no end for their lack of... well, everything. But where I have to admit their competence is in the machinations of big european institutions & bureaucracies
Could it be that some people in the European elite receive some of the billions that are being sent to Ukraine back on their accounts? Could it be that the longer this European aid lasts, no matter how, the longer this money laundering can continue? Ukraine is known as one of the most corrupt countries in the world, but there have been a few scandals proving that the EU elite is not as clean as one would wish. Think of Federica Mogherini, former High Representative, who is under suspicion of corruption. That's a big fish, part of the European elite I'm referring to.
>Could it be that some people in the European elite receive some of the billions that are being sent to Ukraine back on their accounts?
That is certainly happening.
But you don't risk total annihilation just for some billions, because that is how this ends -- Russian nukes wipe out Europe, Russia moves in and does Kaliningradization of the whole space.
Much more is at stake here than some mere billions. They cannot be such idiots to not understand it.
I love the smell of "rule of law" in the morning. Fortunately it's only fiat money but what a sad precedent that will be watched with interest by our Qatari and Émirati "friends".
VdL's proposal doesn't have to make sense. All that is required is the will to do it.
As I have said all along - Ukraine will get its money, one way or another. Government are not going to let any law stand in their way when it comes to something that they want, and the european political class really really wants this war.
Not to put too fine a point on it, but these people have been lying non stop, funneling money to Nazi thugs, supplying and defending the Israeli genocide, intimidating (or trying to) member governments of the EU including regime change attempts, bombed Yugoslavia, screwed the Greeks royally in the GFC while giving Italy an unlimited blank check... Rule of law isn't going to be a reliable guide of what happens here.
Shouldn't take too much imagination to guess that someone is going to print the money. Options are FED, ECB, and private banking institutions - all of which are supposedly constrained against such abuses and of their ability to create funds arbitrarily.
I bet that the majority of the european herds of modern moron slaves don't even think about this and when they do "think" they just know the PROPAGANDA spewed by the REGIME MEDIA.
I'm wondering.. If an EU country or a number of countries just ignored the EU, what can the EU do about anything? Send them fines? They can ignore that too.. The EU doesn't have any muscle... Giving it an army to enforce it's diktates doesn't sound like a good idea to me.
Already hundreds of billions have been poured into Ukraine, and Ukraine has never had a shortage of materiel (thanks to Putin's cowardice and idiotic decision not to shut down the Ukrainian borders from all sides), it is soldiers that they will run out of first.
But even these 200 billion will run out, and they will run out sooner than later, yet Russia will not be defeated, because the only one who can defeat Russia conventionally is China. So a year or two from now the money will be gone, and then what? There will be no more Russian money to steal.
Then Europe goes in directly?
But if it does, the nukes should fly from the other side. And they should also fly pre-emptively if there is clear information that countries like Germany are working on their own nukes.
The only way this goes well for Europe is if Putin turns out to be an even bigger traitor than he appears to be so far and just folds instead of wiping Europe out. Maybe that is what they are betting on in Brussels. It has been a good bet so far. But there are limits to everything.
It may appear to be a charade, but has anyone told UVDL? I expect she expects this to work.
Further, when this truly comes to a head and Ukraine actually runs out of money, the choice of "break laws, precedent, violate democracy" or "Ukraine loses", do you really think the former will be so important? They are all in, including the detractors
The interesting thought experiment is determining what exactly they can do even if they decide to break the law. There isn't a known mechanism they can use to force the Belgians to give up the money. They could potentially threaten Euroclear itself, but how? Any plan that involves forcing the EU to pay for loan itself will be shot down by the other members of the EC, so they need the Russian cash.
Known mechanism is bribery
That and blackmail.
The EC has almost unlimited means of pressure over Euroclear, they could regulate them out of existence gradually if we came to that. But that is not a short term fix.
This is up there with fixing tinnitus by blowing your brains out. Euroclear is part of the foundation of European banking. It has 37 trillion euros worth of assets under management. It would seriously damage the system that provides the governments of Europe with funding, and given that many of these governments only continue to exist by borrowing ever larger sums of money, this is a non-starter.
I know that and you know that, but it's Pustula Von der Lying's EC we're talking about here! 🤡🤡🤪
I am an accelerationist so I’m in favour of them going ahead.
I'm a nationalist, so the more sheite they break, the more sheite we'll have to fix later... 😧🐸🐸
I suspect this is where the bureaucrats really earn their keep. I have no idea how the ins and outs of Euroclear and so on actually work, but I bet UVDL & her allies have teams of people who know exactly which buttons need to be pressed, who has signing authority, who needs to approve, and so on. I criticize the EU sorts to no end for their lack of... well, everything. But where I have to admit their competence is in the machinations of big european institutions & bureaucracies
Of course it will work. What's going to stop her?
Could it be that some people in the European elite receive some of the billions that are being sent to Ukraine back on their accounts? Could it be that the longer this European aid lasts, no matter how, the longer this money laundering can continue? Ukraine is known as one of the most corrupt countries in the world, but there have been a few scandals proving that the EU elite is not as clean as one would wish. Think of Federica Mogherini, former High Representative, who is under suspicion of corruption. That's a big fish, part of the European elite I'm referring to.
Kickbacks? But of course. They call it "Soft power"
Of course european elites get some skim. Nobody cares, as long the Ukrainian army keeps fighting.
>Could it be that some people in the European elite receive some of the billions that are being sent to Ukraine back on their accounts?
That is certainly happening.
But you don't risk total annihilation just for some billions, because that is how this ends -- Russian nukes wipe out Europe, Russia moves in and does Kaliningradization of the whole space.
Much more is at stake here than some mere billions. They cannot be such idiots to not understand it.
So what is the endgame?
Very good article.
Very clear explanation.
I was in favour of Brexit because although it was always going to hurt economically, it freed us from these undemocratic tyrants.
I meant to say, all that money has already been stolen
I love the smell of "rule of law" in the morning. Fortunately it's only fiat money but what a sad precedent that will be watched with interest by our Qatari and Émirati "friends".
So where else will they park their money? That's an honest question.
VdL's proposal doesn't have to make sense. All that is required is the will to do it.
As I have said all along - Ukraine will get its money, one way or another. Government are not going to let any law stand in their way when it comes to something that they want, and the european political class really really wants this war.
Not to put too fine a point on it, but these people have been lying non stop, funneling money to Nazi thugs, supplying and defending the Israeli genocide, intimidating (or trying to) member governments of the EU including regime change attempts, bombed Yugoslavia, screwed the Greeks royally in the GFC while giving Italy an unlimited blank check... Rule of law isn't going to be a reliable guide of what happens here.
Shouldn't take too much imagination to guess that someone is going to print the money. Options are FED, ECB, and private banking institutions - all of which are supposedly constrained against such abuses and of their ability to create funds arbitrarily.
All the money has already been spent
The NAZI spirit in her family never died!
Luckily Ukranistan is WINNING... as I've heard of the European REGIME MEDIA.
https://voza0db.substack.com/p/morons-just-dont-get-it-49f
I bet that the majority of the european herds of modern moron slaves don't even think about this and when they do "think" they just know the PROPAGANDA spewed by the REGIME MEDIA.
With that in mind... they will pay it all gladly!
I'm wondering.. If an EU country or a number of countries just ignored the EU, what can the EU do about anything? Send them fines? They can ignore that too.. The EU doesn't have any muscle... Giving it an army to enforce it's diktates doesn't sound like a good idea to me.
Vile hideous and evil C**T who needs to be taken down by the people.
What is the endgame here though?
Already hundreds of billions have been poured into Ukraine, and Ukraine has never had a shortage of materiel (thanks to Putin's cowardice and idiotic decision not to shut down the Ukrainian borders from all sides), it is soldiers that they will run out of first.
But even these 200 billion will run out, and they will run out sooner than later, yet Russia will not be defeated, because the only one who can defeat Russia conventionally is China. So a year or two from now the money will be gone, and then what? There will be no more Russian money to steal.
Then Europe goes in directly?
But if it does, the nukes should fly from the other side. And they should also fly pre-emptively if there is clear information that countries like Germany are working on their own nukes.
The only way this goes well for Europe is if Putin turns out to be an even bigger traitor than he appears to be so far and just folds instead of wiping Europe out. Maybe that is what they are betting on in Brussels. It has been a good bet so far. But there are limits to everything.
There really is nothing that can't be solved with nukes in your world.
The US has been ruling the world with them for 80 years