White House officials are leaking about America’s mounting economic crises, admitting privately that Democrat President Joe Biden’s sanctions against Russia are “exacerbating inflation and worsening food insecurity.”
Biden admin insiders are reportedly raising concerns the sanctions on Russia are causing massive “collateral damage” to the American and the world economy.
Worryingly, the White House officials say Biden’s miscalculation and bungled rollout of the sanctions may lead to a worldwide famine that will destabilize the entire world.
Saagar Enjeti, co-Host of “Breaking Points with Krystal and Saagar,” revealed the growing panic from within Biden’s team.
“White House officials privately admit ‘the collateral damage’ from Russia sanctions ‘has been wider than expected’,” Enjeti said.
“And that they originally believed sanctioning food/energy would have a ‘minimal’ effect on inflation here at home.
“More: White House is privately encouraging US companies to buy more Russian fertilizer because the supply shock is driving food prices further and could spark famine risk in developing world.”
More: White House is privately encouraging US companies to buy more Russian fertilizer because the supply shock is driving food prices further and could spark famine risk in developing world pic.twitter.com/KaZ6b70lvG
— Saagar Enjeti (@esaagar) June 14, 2022
Bloomberg reporter Saleha Mohsin said:
“Some Biden officials privately express concern that rather than dissuade the Kremlin as intended, US sanctions have instead exacerbated inflation, worsened food insecurity, and punished ordinary Russians more than Putin or his allies.”
— john (@johnhackerla) June 15, 2022
The insiders suggest it is absolute chaos in Biden’s White House.
“Because we just have so many changes at once, governments are not able to step in and give precise clarification and we are seeing many, many examples of authorities coming to different positions,” Justine Walker, the head of global sanctions and risk at the Association of Certified Anti-Money Laundering Specialists, said.
“Companies ask, ‘Should we be applying sanctions to this entity?’ and the government will come back and say, ‘You need to make your own decision.’”
“The story that the sanctions are causing the problem, I think, is deeply misleading,” Ambassador Jim O’Brien, said.
“Sometimes companies are confused about what’s allowed and what’s not, and we will try to clarify so that they are able to go forward.
“But we are also working proactively by trying to inform companies about what they are allowed to do.”
Astounding incompetence, and deadly! https://t.co/EeuTacXEY0
— Cernovich (@Cernovich) June 14, 2022
According to Bloomberg:
“Some Biden administration officials are now privately expressing concern that rather than dissuading the Kremlin as intended, the penalties are instead exacerbating inflation, worsening food insecurity, and punishing ordinary Russians more than Putin or his allies.
“Officials were initially impressed by the willingness of companies from BP Plc. to McDonald’s Corp. to abruptly ‘self-sanction,’ sometimes selling assets at fire-sale prices.
“But the administration was caught off-guard by the potential knock-on effects — from supply chain bottlenecks to uninsurable grain exports — due to the companies’ decisions to leave, according to people familiar with internal discussions.”
Bloomberg reports that Biden’s team does not think the sanctions were a mistake, however:
“The collateral damage from the sanctions has been wider than expected.
“When the invasion began, the Biden administration believed that if penalties exempted food and energy, the impact on inflation at home would be minimal.
“Since then, energy and food have become key drivers of the highest US inflation rates in 40 years, a huge political liability for President Joe Biden and the Democratic party heading into November’s mid-term elections.”