The Spoils of War: Biden Controls Almost Every Ounce of Gold in Ukraine

Needless to say, the war in Ukraine almost vaporized the country’s economy. Since exports plummeted, the country has largely sought foreign aid and low-interest loans to stay afloat. Ukraine has also requested a debt freeze to support its struggling economy.

Ukraine’s GDP is estimated to have collapsed by at least 45-50%. Ukraine’s Ministry of Finance recently announced: “The disruption of fiscal cash flow and increased demands on government resources caused by the war have created unprecedented liquidity pressures and debt service difficulties.

Zelensky also cleverly asked for grants rather than loans so that Kyiv would not be required to return the money to the donor nation or organization.

However, it seems Ukraine has paid a heavy price for the support it has received from Western nations. Since the beginning of the war between Ukraine and Russia, Ukraine has received a significant amount of military and financial aid. NATO, under US leadership, recklessly aided Ukraine in its conflict with Russia. In particular, the United States has sent billions of dollars worth of military and financial aid to Ukraine over the past 8 months.

Ukraine loses its gold reserves

Now it has been revealed that in exchange for the aid provided, the majority of Ukraine’s gold and currency reserves were looted by the West. The political elites in Washington DC and Brussels did not emerge empty-handed from this carefully orchestrated conflict.

In July, Reuters reported that since the war began in February, Ukraine has sold $12.4 billion worth of gold. According to the deputy governor of the National Bank of Ukraine, the sale of gold was vital for the nation to continue functioning. He said: “We are selling (this gold) so that our importers can buy the necessary goods for the country.”

However, it was not immediately clear to whom the gold was being sold. But now the facts are known. It was Biden’s United States that looted all of Ukraine’s gold wealth.

Read more: Zelensky is selling billions of dollars worth of gold that didn’t even exist

Attack on the Ukrainian economy

Gold is essential to a country’s sovereignty. Biden carefully exploited former comedian Volodymyr Zelensky for his own use, used him as a pawn in war, and stripped Ukraine of its gold while filling Zelensky’s pockets with dirty money at the same time.

Transparency International’s Corruption Index places Ukraine in the bottom third. Thus, poor Ukrainians never received the essential aid and goods for which Zelensky sold Ukraine’s gold.

Gold reserves can help a country’s currency. When gold prices rise, a nation with rich gold reserves sees its economy improve. In other words, gold is not just a tangible good but a vital part of a country’s sovereignty and economic independence.

Along with government bonds, gold is one of the most important reserve assets in the world. But you can’t expect a comedian to show his raison d’etre on such important issues. Speaking of Biden, making billions from the Ukraine conflict has been his sole focus since day one.

With Kyiv selling its gold to Biden, it’s no surprise that Ukraine’s central bank has devalued the Ukrainian hryvnia by 25% against the US dollar. Now the US can easily make Ukraine its vassal state, as Kyiv’s financial system would now survive at the mercy of Biden. Ukraine has not only lost its gold, but also its sovereignty and respect.

James V. Hayes