WE'RE JOINING WITH EUROPEAN ALLIES TO FIND AND SEIZE THEIR YACHTS THEIR LUXURY APARTMENTS
THEIR PRIVATE JETS. THIS GUY'S YACHT WAS SEIZED BY FRENCH POLICE.
YES HE'S A RUSSIAN OLIGARCH AND IS A BOSS OF A RUSSIAN STATE ENERGY COMPANY. OTHER OLIGARCHS
ARE SHOCKED TO FIND OUT THEIR CREDIT CARDS AREN'T WORKING AND THEY HAVE TO RELY ON USING CASH FROM
SAFES. YES THEY'RE PAYING LIMOS, BUTLERS AND PRIVATE JETS ALL USING CASH. NOW A BUNCH OF
OTHER YACHTS ARE GOING TO THE MALDIVES WHICH DOESN'T HAVE AN EXTRADITION TREATY WITH THE US.
TODAY WE NEED TO TALK ABOUT PUTIN'S WAR ON UKRAINE IT'S UPENDING TENS OF MILLIONS OF LIVES IN UKRAINE
WHO CHOSE THIS WAR CERTAIN NUMBER OF RUSSIAN BANKS ARE REMOVED FROM SWIFT-
IF RUSSIA IS AT WAR WITH UKRAINE, THEN THE WEST IS AT AN ECONOMIC WAR WITH RUSSIA. AND
IT'S IMPACTING BANK ACCOUNTS AND WALLETS OF HUNDREDS OF MILLIONS
OF BOTH UKRAINIANS AND RUSSIANS AND EVEN IMPACTING PORK PRICES IN THE UK BUT THIS ISN'T JUST A STORY
ABOUT WHAT HAPPENS WHEN RUSSIA IS CUT OFF FROM THE GLOBAL ECONOMY, THIS IS A STORY ABOUT THIS
ON ONE HAND THIS IS JUST PRINTED PAPER. BUT ON THE OTHER HAND THIS REPRESENTS THE MOST POWERFUL
WEAPON OF ALL BECAUSE UNDERNEATH THIS REPRESENTS BILLIONAIRES SAILING INTO MONACO FLYING INTO
NEW YORK BUYING MANSIONS IN LONDON. BUT IT ALSO REPRESENTS THE GAS IN YOUR CAR,
THE ROOF ABOVE YOUR HEAD AND THE FOOD ON YOUR TABLE AND EVEN THOUGH DC IS ALMOST 5,000 MILES
FROM MOSCOW THE DECISIONS MADE THERE ABOUT THIS ARE IMPACTING EVERY SINGLE ONE OF US-
WITHIN DAYS OF PUTIN'S INVASION INTO UKRAINE, FINANCE BECAME THE BIGGEST WEAPON BY MUCH OF
THE INTERNATIONAL COMMUNITY. SEE THEIR FIRST RESPONSE WASN'T TO SEND MISSILES AND MILITARY
TO DEFEND UKRAINE BUT IT WAS TO PUNISH RUSSIA BY CUTTING IT OUT SAYING NO! YOU CAN NO LONGER PLAY
BALL WITH THE REST OF THE GLOBAL COMMUNITY. FIRST THERE'S THE BANKING STUFF WHERE MANY
RUSSIAN BANKS WERE CUT OUT OF SWIFT. SWIFT IS HOW BANKS TALK TO EACH OTHER ACROSS BORDERS. THEN
EVERYDAY CUSTOMERS BECAME IMPACTED WHEN VISA MASTERCARD EVEN PAYPAL PULLED OUT AND SAID
RUSSIANS CAN NO LONGER USE OUR SERVICES. APPLE AND SAMSUNG HAVE STOPPED SELLING PHONES IN RUSSIA.
LUXURY DESIGNERS HAVE STOPPED ALL SALES LEAVING A GHOST TOWN VIBE IN MOSCOW'S MOST LUXURIOUS MALLS.
REMEMBER THERE HAS BEEN NO MILITARY CONFLICT IN MOSCOW EVEN NETFLIX ANNOUNCED ITS STOPPING
OPERATIONS IN RUSSIA YET THE POWER OF THIS IS LEAVING MALLS LOOKING LIKE THEY WERE DESTROYED.
BUT HOLD UP, WHY IS LOUIS VUITTON LEAVING RUSSIA?
IS IT BECAUSE THEY CAN'T FUNCTION WITHOUT MAJOR CREDIT CARDS? OR IS THIS JUST ON PRINCIPLE TO
SAY THAT THEY STAND WITH UKRAINE? WELL, A LITTLE BIT OF BOTH. SEE, SOME COMPANIES VERY LIKELY KNOW
WHAT'S COMING AND WANTED TO APPEAR TO STAND FOR PEOPLE OVER PROFITS BUT I DON'T WANT TO GET INTO
A GAME OF CHICKEN OR THE EGG HERE BECAUSE THERE'S ONE THING TO UNDERSTAND: WHAT IS HAPPENING HERE
ECONOMICALLY IS ESSENTIALLY BAD FOR EVERYONE. NOT JUST FOR RUSSIA AND NOT JUST FOR PUTIN.
NETFLIX LOSES OUT ON A MILLION SUBSCRIBERS. APPLE LOSES OUT ON MILLIONS OF DOLLARS OF SALES
RUSSIA ACCOUNTS FOR 17 OF TOTAL GAS SUPPLIES IF YOU'RE A CASHIER AT BURGER KING IN NORTH
CAROLINA THIS IMPACTS YOU BECAUSE YOU'VE ALREADY SEEN THE PRICE OF YOUR GAS SOAR. GAS PRICES ARE
HITTING THEIR HIGHEST LEVELS IN 15 YEARS AND WE'RE SEEING THE BIGGEST INCREASE IN COMMODITIES SINCE
THE 1960S. THE ACTION OF THIS ONE MAN IS CAUSING RIPPLES ACROSS THE GLOBAL ECONOMY. BUT HOLD ON,
IT'S LIKELY NOT GOING TO CRASH RUSSIA'S ECONOMY BECAUSE RUSSIA'S ECONOMY IS SMALLER THAN THAT
OF TEXAS AND REPRESENTS JUST 1.2 PERCENT OF THE WORLD ECONOMY. SO IF RUSSIA SITS OUT THE
WORLD WILL MOVE ON BUT HOW EXACTLY DID THIS BECOME THE WEST'S BIGGEST WEAPON TO TRY AND STOP PUTIN?
WE WERE HEARING EARLIER IN THE HOUR THE RUSSIAN ECONOMY IT IS PLUNGING- RUSSIA'S CURRENCY HAS
PLUNGED 30 TO THE U.S DOLLAR ITS BIGGEST DROP EVER. SO IF I'M IMPORTING PARTS INTO RUSSIA OR I'M
AN EMPLOYEE AT LOUIS VUITTON IN MOSCOW, MY JOB HAS JUST BEEN TURNED UPSIDE DOWN. BUT IT'S NOT JUST
THOSE WHO ARE WORKING WITH COMPANIES AND CLIENTS OUTSIDE OF RUSSIA. EVEN A RUSSIAN SCHOOL TEACHER
AND TAXI DRIVER IS ALREADY FEELING THIS BECAUSE ANYTHING FROM ELECTRONICS TO A BOTTLE OF NUTELLA
HAS JUST BECOME A LOT MORE EXPENSIVE. SEE, OUR ECONOMIES ARE MORE GLOBALLY CONNECTED THAN EVER. I
GET IT THE WEST NEEDS TO PUNISH PUTIN BUT IS THERE A WAY TO DO THAT WITHOUT PUNISHING THE PEOPLE OF
RUSSIA- I MEAN MANY OF WHOM HAVE ACTUALLY TOOK TO THE STREETS TO PROTEST WHAT HE'S DOING.
OR IS THERE A WAY TO EVEN PUNISH PUTIN WITHOUT SHOOTING THE REST OF THE GLOBAL ECONOMY IN THE
FOOT. REMEMBER PEOPLE ARE NOT THE SAME AS THE GOVERNMENT. THERE WAS EVEN A SURGE OF RUSSIANS
TRYING TO LEAVE JUST LOOK AT THIS RECENT GOOGLE SEARCH TREND NOT EVERY COMPANY IMMEDIATELY LEFT
RUSSIA THOUGH. UNIQLO HAS SAID THAT CLOTHING IS A NECESSITY OF LIFE AND SAYS IT'S NOT GOING TO STOP
SELLING CLOTHES IN RUSSIA. BUT LET'S BREAK THIS DOWN ON ONE HAND UNIQLO'S DEPARTURE FROM RUSSIA
IS PROBABLY NOT GOING TO HARM PUTIN HE SEEMS MORE OF AN H&M KIND OF GUY- BUT ON THE OTHER HAND IF
UNIQLO STAYS IN RUSSIA IT INCREASES PROFITS AND WHAT WOULD BE TAXES THAT GO TO PUTIN AND
HIS GOVERNMENT- REMEMBER, PUTIN'S GOVERNMENT. ONE MORE FACTOR THOUGH IS TO REMEMBER THAT THE WEST IS
KIND OF HOPING THAT SANCTIONS PUNISH ITS PEOPLE SO MUCH THAT THEY TURN ON PUTIN SO THAT THEY REVOLT
THINK OF IT LIKE THIS: REMEMBER WHEN WE WERE IN SCHOOL AND THERE WAS THAT ONE ROWDY KID LET'S CALL
HIM TREVOR WHO WAS ALWAYS JUST SUPER ROWDY, AND HE ALWAYS CAUSED TROUBLE. THE TEACHER WOULD TRY TO
CONTAIN HIM AND PUNISH HIM BUT TREVOR WAS STILL ROWDY SO SHE'D SAY GUYS WE CAN ONLY START THE
PIZZA PARTY WHEN ALL THE STUDENTS BEHAVE SO ALL OF US WOULD TURN AROUND AND GIVE TREVOR THE DEATH
STARE, SOME MAYBE EVEN YELL AT HIM JUST TELL HIM TO SHUT UP. THAT'S KIND OF WHAT SANCTIONS AIM TO
DO HERE. IT'S TO PUT PRESSURE ON PUTIN AND WHETHER THAT COMES FROM OLIGARCHS OR THE PEOPLE OR BOTH
IT DOESN'T REALLY MATTER SO LONG AS IT INSPIRES HIM TO MAKE A CHANGE. BUT I'M NOT REALLY SURE HOW
LIKELY THAT'S GONNA HAPPEN AND HISTORY SHOWS THAT IT DOESN'T HAPPEN TOO OFTEN. AFTER ALL HE'S NOT
EXACTLY UP FOR RE-ELECTION AT LEAST FOR ANOTHER 15 YEARS OR SO. THIS IS A GUY WHO ALWAYS JUST DOES
WHATEVER HE WANTS AND THIS IS A MAN WHERE EGO AND IMAGE IS EVERYTHING SO WE CAN'T COUNT ON HIS OWN
PEOPLE POTENTIALLY SUFFERING FINANCIALLY OR EVEN TAKING TO THE STREETS TO CAUSE HIM TO CHANGE HIS
TUNE WHICH MAKES ME WONDER WILL SANCTIONS ACTUALLY WORK? MOST ECONOMISTS SAY PROBABLY NOT AND IT MAY
NOT EVEN COLLAPSE THE RUSSIAN ECONOMY BUT IF THERE IS ONE THING THAT HE HATES MORE THAN ANYTHING IT'S
THE POWER OF THIS. THE US DOLLAR IS THE GLOBAL CURRENCY. IT'S THE CURRENCY EVERY COUNTRY HAS
AGREED UPON TO SAY THIS IS WORTH SOMETHING, IN FACT SOME COUNTRIES LOVE IT SO MUCH THAT THEY
DITCHED THEIR OWN CURRENCY. SO NOW EVERYONE IN EL SALVADOR, PANAMA AND CAMBODIA ONLY USE THIS. THE
WORLD SAYS THIS IS STABLE THIS IS WHAT WE AGREE UPON THAT WE CAN TRUST AS A MEASURE OF VALUE SO
THE US DOLLAR HAS BECOME THE WORLD'S MAIN RESERVE CURRENCY WHICH IS WHY SO MANY CENTRAL BANKS AND
COMMERCIAL BANKS HAVE A STASH OF THEM. EVEN GOLD AND OIL ARE PRICED IN U.S DOLLAR. SO IS THERE A
CURRENCY THAT CAN OVERTAKE THE US DOLLAR OR EVEN COMPETE WITH IT? THE EURO- WELL IT IS THE SECOND
MOST TRADED CURRENCY BEHIND THE DOLLAR BUT IT'S NOT QUITE AS POPULAR AND ECONOMIC GROWTH IN EUROPE
HAS JUST BEEN UNIMPRESSIVE. SO WHAT ABOUT THE CHINESE YUAN? CHINA DOES HAVE THE WORLD'S SECOND
LARGEST ECONOMY BEHIND THE US AND IT'S A MASSIVE TRADE PARTNER WITH MANY COUNTRIES. IT LAUNCHED A
DIGITAL CURRENCY WHICH IS CONTROLLED BY CHINA'S CENTRAL BANK AND THE US IS EVEN STUDYING HOW TO
RESPOND TO THAT, BECAUSE AS YOU CAN IMAGINE THE US LOVES BEING THE WORLD'S GLOBAL CURRENCY, ABOUT 90%
OF TRANSACTIONS ARE DONE IN U.S DOLLAR. BUT IT IS HARD TO IMAGINE THAT HAPPENING FINALLY THERE'S
SOMETHING THAT YOU AND I ARE ALREADY FAMILIAR WITH AND IT'S NOT BACKED BY ANY GOVERNMENT
BITCOIN. BITCOIN THE DIGITAL CURRENCY CREATED A DOZEN YEARS AGO AS AN ALTERNATIVE TO CASH IS
EXPLODING IN VALUE. IN FACT WHEN SANCTIONS WERE ANNOUNCED AGAINST RUSSIA BITCOIN SURGED BECAUSE
PEOPLE SAID OKAY IF RUSSIA CAN'T ACCESS GLOBAL FINANCIAL MARKETS, WELL MAYBE THEY CAN USE BITCOIN
TO PLAY BALL AND ISN'T BITCOIN A GLOBALLY ACCEPTED CURRENCY THAT WE CAN USE? AND WHAT'S REALLY
FASCINATING IS THIS: FOR MILLIONS OF PEOPLE AROUND THE WORLD INCLUDING MANY IN RUSSIA BITCOIN HAS
BECOME SORT OF ANTI-AMERICAN PROPAGANDA BECAUSE WHEN PEOPLE USE BITCOIN IT MEANS THAT PEOPLE ARE
LESS RELIANT ON THE US DOLLAR IN FACT TRADING BETWEEN RUSSIA'S CURRENCY AND CRYPTOCURRENCY
HAS BEEN SOARING SINCE ALL OF THIS BEGAN I WANT TO SHOW YOU THIS GUY HIS NAME IS MAX KAISER HE'S
A SELF-DESCRIBED BITCOIN AMBASSADOR I INTERVIEWED HIM IN EL SALVADOR AND HE LOVES TWO THINGS RUSSIA
AND BITCOIN HE IS A REGULAR CONTRIBUTOR ON RUSSIA TODAY THAT GLOBAL MEDIA NETWORK THAT WAS STARTED
AND BACKED BY PUTIN HIMSELF NOW RUSSIA TODAY HAS SINCE BEEN BANNED AND BLOCKED IN MANY COUNTRIES
BECAUSE IT'S SEEN AS GIVING OUT RUSSIAN PROPAGANDA EVEN MAX SAID HE JUST RECENTLY LEFT RUSSIA TODAY
BUT MAX LOVES TO BASH THE U.S CENTRAL BANK AND THE U.S DOLLAR THIS IS GARBAGE THIS IS GARBAGE
HE THINKS BITCOIN IS THE FUTURE AND THEY SEE HIM AS AN AMERICAN WHO'S ANTI-AMERICA IN FACT
TWO OTHER PLACES WHERE MAX KAISER IS POPULAR IS VENEZUELA AND CUBA SO WHAT HAPPENS NEXT
WELL THE WEST IS DOING EVERYTHING IT CAN SO THIS DOESN'T ESCALATE INTO A FULL-BLOWN WAR HENCE THE
SANCTIONS BUT PUTIN HIMSELF IS NOT LIKELY TO SEE THE IMPACT OF THESE SANCTIONS THE WAY THE AVERAGE
RUSSIAN CITIZEN IS SEEING THEIR LIFE CHANGE BUT WHAT REALLY FASCINATES ME THE MOST IS HOW QUICKLY
THE US DOLLAR WAS WEAPONIZED ALMOST AS IF IT WAS THIS SYMBOLIC THING THAT WAS READY FOR WAR AFTER
25 YEARS OF OPERATING IN RUSSIA MAJOR CREDIT CARD COMPANIES HAVE HAD TO VIRTUALLY PULL OUT OVERNIGHT
IF YOU'RE RUSSIAN AND YOU'RE USED TO RECEIVING MONEY IN DOLLARS IN THE PAST RIGHT NOW THE ONE
THING YOU'RE PROBABLY LOOKING AT IS CRYPTOCURRENCY WHICH IS WHY BITCOIN AND CRYPTO ARE SURGING ON
BOTH SIDES OF THE BORDER BUT IN THE PAST WHEN A COUNTRY IMPOSED SANCTIONS ECONOMIC SANCTIONS ON
ANOTHER COUNTRY THERE WAS NO REAL BITCOIN FOR THEM TO TURN TO BUT WILL THIS TIME BE DIFFERENT