According to Barbara Tuchman’s account of World War I, the British ultimately won because of a years-long economic blockade of Germany, and because of Kaiser Wilhelm’s unwillingness to risk his new navy against Britain’s Royal Navy to break that blockade. The World War III warriors of London and Washington evidently believe it will work again—financial blockade, this time—when all else has failed against Russia. The U.S. State Department announced on Nov. 21 that Treasury sanctions on Russian banks were being made complete, covering all Russian banks, and Russia’s System for Transfer of Financial Messages, and were aimed at preventing Russia from using the international financial system.
The day before, “senior Treasury Official” Brent Neiman spoke at an event at the New York Federal Reserve Bank, warning against new “cross-border payments systems that fail to adhere to standards aimed at minimizing illicit activity.” The only new cross-border payment systems discussed recently are in preparation by BRICS countries, including the one proposed by Russia at the BRICS Summit in Kazan. The “standards” Neiman referred to definitely include U.S. Treasury sanctions.
Neiman didn’t just warn; he announced action: “I believe the United States must lead when it comes to cross-border payments. … If a poorly designed payments system were widely adopted, it would not only fail to resolve cross-border payments challenges, it could do significant harm to international financial stability and economic security.”
The lame duck warriors are all quacking angrily, following the lead of the enraged lead duck.
