Tag: g7

Saudi Arabia threatened to sell European debts if G7 confiscates Russian assets

Saudi Arabia threatened to sell off some of its European debt holdings earlier this year if the G7 went forward with rumored plans to seize nearly $300 billion in Russian assets it had frozen.

One source who was aware of the discussions described it to Bloomberg as a “veiled threat,” while two sources said that the Saudis explicitly mentioned debt issued by the French treasury.

These threats came at a time when the G7 was said to be considering a number of options when it comes to handling the funds it seized belonging to the Russian central bank. While the U.S. and U.K. pushed for aggressive options such as a direct seizure, some of the European nations in the G7 opposed it on the grounds that it could undermine their currency. They ultimately all agreed to use the profits generated by the assets while leaving the assets themselves untouched.

The sources said they think the Saudis’ threat played a role in the European nations’ unwillingness to seize all of the funds.

It is believed that Saudi Arabia’s holdings of Euro and French bonds totals tens of billions of euros, and while this may not have been enough to cause significant concern, there were worries that other countries could have followed suit and sold off their own debt holdings in protest of a G7 seizure.

Although a Saudi official insisted that the government does not normally issue this type of threat, they conceded that they may have informed G7 nations of the consequences that any seizures could bring. The Kingdom changed its position on the matter after the G7 countries eventually opted for a proposal that did not involve keeping the assets.

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G7 Dignitaries Say Biden Was “Losing Focus”; “Worst He’s Ever Been”

A report quoting insiders at the G7 summit this past week has warned that Joe Biden struggled to focus at the meeting of world leaders in Puglia, Italy. 

According to one source, Biden is “the worst he’s ever been,” with attendees from other delegations saying it was “embarrassing.”

As we highlighted, Biden was seen wandering off like a dementia patient and looking perpetually confused.

The footage of Biden prompted mocking headlines. 

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Will Average Western Citizens Pay the Price for G7’s Theft of Russian Funds?

Analysts worry Thursday’s announcement could spell dire consequences for the economic stability of the United States and its allies, as G7 leaders reached a deal this week to seize the interest from Russian assets to fund the ongoing proxy war in Ukraine.

News of the development emerged Thursday, although the group of Western economies has yet to formally approve the action. Italian Prime Minister Giorgia Meloni confirmed the reports, drawing a distinction between the expropriation of earned interest and the outright seizure of Russian savings held in European banks. “We are certainly not talking about confiscating these assets,” Meloni claimed at the G7 meeting in Fasano.

But the move is nonetheless highly controversial in the precedent it sets, claims analyst Dr. George Szamuely, and may be seen as a prelude to the wholesale theft of the funds. The analyst at the London-based Global Policy Institute joined Sputnik’s The Final Countdown program on Thursday to discuss how the development will harm financially strained Western citizens.

“It doesn’t in any way conform to international law,” said Szamuely of the G7’s plan, “and let’s keep in mind this has never been done before.”

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GANG OF LOSERS: G7 Meeting Displays the Decadence of the Globalist World Order

The Group of Seven was created as an intergovernmental political and economic forum formed by the great western powers post WW2.

It consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Lately, the European Union, as a “non-enumerated member”, has also become part of it – with not one, but two unelected members: the President of the European Commission and the President of the European Council.

But as the advent of a multipolar world unfolds, the 2024 G7 meeting in Italy has displayed for the world to see the sheer decadence of the Globalist world order as represented by the failing leaders present.

The EU dispute, to begin with, is very symbolic of the shift to the right taking place all over the world.

EU Commission President Ursula Von der Leyen (VDL) has her job on the line. She was first installed by the European Council – a body uniting the heads of the EU member states, but this time around, European Council’s President Charles Michel is von der Leyen’s rival, and is reportedly plotting revenge against her because of her authoritarian ways.

In order to win another term, VDL needs 361 votes of the members of the European Parliament, out of a total of 720. But her European People’s Party (EPP) is about to get only 170 votes.

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AMERICA LAST: Biden Dumped Trump’s Cheap Insulin Program On Same Day He Promised 500 MILLION Vaccines For Other Countries

The Biden administration quietly ended President Donald Trump’s policy that saw many Americans receive lower cost insulin and epinephrine pens on the same day he promised to purchase 500 million COVID-19 vaccines to be sent to foreign countries.

Yesterday, Biden promised world leaders at the G7 summit that the United States of America would finance the purchase of 500 million COVID-19 vaccines to be given to poor countries at almost precisely the same time the White House budget office approved Biden’s plan to slash a Trump-era program that provided low cost insulin and epinephrine pens to low income Americans.

On the ending of the Trump-era program, Fox Business reported, “The measure, signed off on under the previous administration in December, aimed to require some 340B community health centers to deliver savings to low-income patients for insulin and epinephrine in a bid to bring down unaffordable prices.” Fox Business notes that the Biden administration refused to offer a comment when asked by the cable network.

Hours earlier, Biden promised to unveil an American-led worldwide program to address COVID-19 vaccines as he prepared to leave the United States for the United Kingdom to meet with world leaders. After arriving, and only an hour before the White House budget office would make its announcement regarding insulin and epinephrine pens, the Washington Post revealed the administration’s plan to buy 500 million Pfizer vaccines, and reported that “President Biden is slated to announce the plan this week at the Group of Seven meeting in Britain, where he is expected to be joined by Pfizer CEO Albert Bourla.”

This happened earlier today, with Biden appearing before the international media to make the announcement. Today we’re taking a major step that will super charge the fight against the global pandemic. “At my direction, the United states will purchase an additional half billion doses from Pfizer, Pfizer vaccine, that will donate nearly 100 low and lower middle income countries, they will be the beneficiaries. Let me say that again, the United States will purchase a half a billion doses of Pfizer’s COVID-19 vaccine to donate to nearly 100 nations that are in dire need in the fight against this pandemic.”

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At G7, Joe Biden and Boris Johnson sign charter committing to defend against “disinformation”

We obtained a copy of the new Atlantic Charter for you here.

This new version of the Atlantic Charter doesn’t detail how the duo plan to fight what they deem to be disinformation but follows both countries signaling that they plan further crackdowns on online content based on censorship buzzwords such as disinformation and “misinformation.”

During a recent press briefing, White House Press Secretary Jen Psaki told reporters “the President’s view is that the major platforms have a responsibility related to the health and safety of all Americans to stop amplifying untrustworthy content, disinformation, and misinformation, especially related to COVID-19, vaccinations, and elections.”

She added: “His view is that there’s more that needs to be done to ensure that this type of misinformation; disinformation; damaging, sometimes life-threatening information is not going out to the American public.”

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