Macro Politics: Sanctions Rarely Hurt Those "In charge"
#sanctions #incurson #enemy #Putin #Russia #Ukraine #crypto #cryptocurrency #money #fintech #bitcoin #knightsbridge #DAO
"International sanctions are designed to hurt a country as a whole, but innocent people and small businesses are the most affected"--Paul Ebeling
On the Ukraine incursion Russia saw immediate international sanctions, falling stock markets and national currency that exceeded 100 rubles per 1 USD. Plus, 5 Russian banks fell under sanctions including excluded from the SWIFT system.
To be fair, President Putin sees the militarized Ukraine government as the enemy
Many Russian people, including those living abroad, were unable to use their Russian bank cards and access their funds.
The Big Q: Was it a coincidence that the crypto market grew approximately 10% that day following nationwide fear and the bank run?
The Big A: No! Russian people were and will be transferring their funds into cryptocurrency, claiming ownership over their funds and disconnecting the corrupt and repressive government from their money. This is an awakening time for people worldwide to appreciate the financial freedom and independence that can be achieved with crypto. And Knightsbridge is on Top of the wave. Join us.
Money stored at the bank is not your money. It belongs to the government and the bank until you claim it. If you store your crypto securely in your cold wallet and hold your own Keys, your capital is protected. Your money is your money as long as it is in crypto.
Sanctions will cause damage to the Russian economy, but it will recover quickly. Russia is an interesting country from a fintech adoption perspective where you do not need cash at all. Crypto adoption was always high and is growing in the face of the Ukraine takeover.
Cryptocurrency is now acting like a safe haven with bitcoin and other digital tokens took off Tuesday as Russia’s incursion into Ukraine took a dramatic turn.
Russia has ordered its military to take a “peacekeeping” role in disputed regions of eastern Ukraine, Ukraine has blacked out all information on those talks.
Have a healthy, prosperous weekend, Keep the Faith!
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