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Why Congress Passing the REPO For Ukrainians Act Will Lead to a Massive Cyber Attack

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In Matthew 6:21 in the Bible, Jesus once said “For where your treasure is, there your heart will be also.”

On April 20, 2024, the United States Congress officially passed an unprecedented legislation called the REPO For Ukrainians Act. It will go down in infamy as the day seized Russian financial assets sitting in Western banks received a dagger through the heart, and began the next phase of global war.

As a result of Russia’s February 2022 invasion of Ukraine, the US and its allies seized more than $300 Billion of Russian state-owned and oligarch wealth held in foreign bank accounts.

Roughly $6 Billion of those assets rested in the hands of domestic US financial institutions and the remaining assets were frozen in Germany, France, and Belgium.

The REPO Act gives President Joe Biden the authority to re-appropriate those assets, liquidate them, and send them to the Ukraine Support Fund. On its surface, the fund seeks to provide assistance to the rebuilding of the country and aid to Ukrainian citizens.

The Bill H.R. 4175 was introduced by the House of Representatives in June 2023 and underwent bipartisan debate of the potential consequences of passing the precedent-setting legislation.

Long-term consequences of the REPO Act

From the day the United States and its allies decided to unilaterally seize Russian assets, the panic from non-Western countries around the world to find an alternative to the US dollar began.

Since that time, geopolitical alliances such as the BRICS have seen nation membership applications sharply increase over that timeframe. Countries such as China and others have significantly decreased their holdings of Western financial assets such as US treasuries and other securities.

In the post-World War II era, the United States has maintained the status of the world’s reserve currency, allowing the vast majority of financial debt instruments and transactions around the globe to be settled exclusively in the US Dollar.

This exorbitant privilege of having the status of a reserve currency has allowed the United States to flourish both economically and militarily for close to a century.

However, many countries have now begun to conduct foreign trade using their own local currencies, as well as considering the establishment of new trade currencies in an attempt to ditch the greenback. 

For many nations, the risk of one day getting on Uncle Sam’s naughty list like Russia has become the key motivation for seeking alternatives.

While in the short-term, the global transition away from using the Dollar will likely be gradual, however, the long-term consequences will be catastrophic for Western global dominance.

Moreover, losing the reserve currency status diminishes the US Federal Reserve’s ability to print dollars into existence to effect global monetary policy, as well as the US Treasury’s ability to issue government bonds that are attractive to foreign investors.

National Security Implications of the REPO Act

The passing of the REPO Act has been the most direct attack on Russia by Western allies, putting the Kremlin and its oligarchs in a potentially dangerous and desperate situation.

Up until this time, Russian assets were only confiscated and sitting idle, which presumably gave Russia the idea that at some point in the future, either through negotiation or victory on the battlefieldthose assets would be returned.

However, now that the bill has been passed the Russian government will interpret this move as the first kinetic shot fired by the West and the official start of the next Great War,

Since the beginning, the war in Ukraine has been viewed by many as a proxy war of the West, using Ukrainian soldiers to fight against Russia instead of using NATO allied forces.

While Russia up until this time has not engaged directly with NATO on the battlefield, it is likely the Kremlin’s next step will be to stage a crippling cyber-attack on the United States and its allies, leveraging both Russian and Chinese hacking assets.

Why the REPO Act creates a perilous situation

Men like Vladamir Putin maintain a strong grip of power over their countries for decades largely due to the influential oligarchs and crime lords that surround them. 

Putin is beholden to his oligarchs in the same manner that Western politicians are beholden to their campaign donors.

Either directly or indirectly, it’s the private wealth of both Putin and his oligarchs that has been seized by the West, which further escalates internal fury and strife within the walls of Moscow.

The REPO Act has put Putin in a position that he was not in prior, which is making this war personal to him and his constituents, shooting arrows directly at their hearts, which is their personal wealth. 

Putin may have his life or status as President directly threatened if he fails to stage a devastating counter-offensive.

As seen throughout history, if you back a dog into a corner with no other option it will undoubtedly unleash its most devastating bite.

The name Rugged Man was born out of a bet gone horribly wrong, however, the name stuck. Technology nerd by day, and survival enthusiast by night, he is committed to helping thousands of everyday people become more educated about topics such as Prepping, Survival, and Bug Out Strategies.

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