Biden wants to collect frozen Russian assets

Around 300 billion US dollars to be "converted"

The Biden administration is hungry for the approximately 300 billion US dollars frozen from Russian assets. Working groups are to examine how this plunder can be legalized.

The Biden administration can't get its economic policy act together. Further spending on their pet projects, such as the continuation of the war in the Donbas, is being blocked by the US Republicans.

Biden and his comrades cannot generate any new money on their own to meet the demands of the US Republicans. As a result, their own political objectives are falling by the wayside and Zelensky, among others, is looking down the drain.

However, a new window is now opening up for Biden and his comrades. However, as with almost all socialist governments, this option is based on other people's money.

Biden and his cronies want to collect the Russian assets worth around 300 billion US dollars that have been frozen in the USA since February 24, 2022 and convert them into their own assets.

According to a report in the Financial Times (behind paywall), working groups will initially be formed to legally prepare this raid.

On the second anniversary of the Russian offensive in the Donbas, these plans should then be finalized and presented and implemented by the Biden administration.

Biden could certainly use the approximately 300 billion US dollars for his battered and completely misguided policy. As already mentioned, socialist policies are based on other people's money.

However, the planned raid also has its downsides. Some countries that have stored part of their national money and gold reserves in the USA (keyword: Fort Knox) have already started to withdraw their assets from the USA.

They are not keen for Biden and his comrades to get their hands on their money.