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Hello and welcome to another episode of the Odlots podcast. I'm Joe Wycenthal.

And I'm Tracy Alloway. So Tracy, our last episode was of course with

Zoltan Posar, and we talked quite a bit about the sanctions, the sort of economic pressure

that the US and Europe are putting on Russia over the war. However, it really seems like there's

a lot more to dive into with respect to the mechanics and power of the sanctions themselves.

Oh my gosh, I'm getting flashbacks to doing international relations stuff at university,

but yes, there is a lot to do and say when it comes to sanctions. And of course,

the overarching question has always been, do they actually make much of a difference?

And on the one hand, what we've seen in the past, I guess, week or so is that they can be very

dramatic and clearly, you know, in the space of a few days, the US and its allies has basically

created a financial crisis in Russia. But on the other hand, Russia is still invading Ukraine,

and there's the question of what happens next now that you've ratchet it up, this kind of

financial pressure. Right. And there is the fact that even with the sanctions, Russia is getting

tons of cash every single day, largely from Germany and other central European players,

...