May 9th – End of War?

Photo by Syed Hasan Mehdi on

May 9th is Victory Day commemorating the 1945 Nazi surrender. It marks the Russian defeat of Nazi Germany, and historically a day of Russian military parades to show strength, but with this country in default where is the strength?

According to Yahoo News, and I paraphrase/interpret, on April 4 Russia was given 30 days to pay its default in dollars. This did not occur and bond holders are now looking to other methods for this repayment. While a challenging legal journey this could come by way of Russia being forced to rebuild the Ukraine and/or the United States seizing the Russian assets of its Central Bank. In visiting the Hermitage perhaps this debt could be repaid in art, which could easily be acquired and perhaps for pennies on the dollar?

This default will be sorted by the courts and may take years to resolve, however, perhaps not as the Biden administration is familiar with this. It took similar action in Afghanistan freezing half of their central banks reserves earlier this year to compensate 9/11 victims, and fund humanitarian support of the country.

They have experience with this.

It is doubtful soldiers will continue their efforts without salaries.

Photo by Steve Johnson on

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s