It turns out the sanctions imposed on behalf of the corrupt, authoritarian regime in Ukraine are having an effect on Russia after all — by insulating it from the banking crisis that moonbattery mixed with irresponsible monetary policy has set off in the West:

Top Kremlin spokesman Dmitry Peskov said on Tuesday, according to the Russian state news TASS agency: “Our banking system has certain connections with some segments of the international financial system, but it is mostly under illegal restrictions from the collective West.”

But Peskov added: “We are, to a certain extent, insured against the negative impact of the crisis that is now unfolding overseas,” suggesting that he believes Russia may fair better than other countries tied into the Western banking system.

Last February, Russia was banned from the international banking service SWIFT.

The ban initially caused chaos for the Russian economy and banking system, with the Ruble currency collapsing as millions of concerned Russians tried to withdraw their money from Russian banks. However, despite the early turmoil, the Russian currency ultimately rebounded to on par with pre-war levels, with the currency being propped up, in part, by Moscow’s ability to continue to sell its energy — albeit at a discount — to willing buyers such as India and Communist China.

Meanwhile, our energy prices remain high, helping to hold prices up and the economy down.

Russia has many problems, but at least it doesn’t have to worry about a financial crisis brought on by the sort of woke kooks who crashed Silicon Valley Bank and Signature Bank.

Credit Suisse is in a tailspin and looks likely to follow, despite a $54 billion bailout from Swiss taxpayers. The bank’s head of global markets may not be a self-described “queer person of color and a first-generation immigrant” like SVB’s Jay Ersapah, but he looks true to type in the era of corporate ESG:

On tips from Mr. Freemarket.

Unsurprisingly, other banks run by moonbats are following Silicon Valley Bank down the crapper. Next to discover the truth of the maxim “Get woke, go broke” was Signature Bank:

Signature Bank was closed by regulators on Sunday, the second massive bank failure in three days.

The New York-based bank faced a crisis of confidence after midsize lender SVB Financial Corp. was seized by regulators on Friday. … The failure is the third-largest in U.S. history.

Second largest is Silicon Valley Bank.

Signature board member Barney Frank, the former congressman who formed one half of the landmark Dodd-Frank financial law after the 2008 financial crisis, said Signature suffered a bank run of billions of dollars on Friday.

Taxpayers are on the hook:

Signature customers will get all of their deposits back, including money above the $250,000 limit for federal deposit insurance, banking regulators said.

Because not even Democrats can confiscate other people’s money as fast as they fling it to the four winds, they will bail out the customers at least in part with money that does not exist. Like the Inflation Reduction Act, this will drive inflation even higher, resulting in more economic havoc, resulting in more bank failures.

A joint move by the Federal Reserve and Treasury Department took the extraordinary step of designating SVB and Signature Bank as a systemic risk to the financial system, giving regulators flexibility to backstop uninsured deposits.

The end goal of encouraging banks to invest irresponsibly in sophomoric moonbattery, then swooping in to seize control and bail out investors with taxpayer money, is to incrementally nationalize the banking system.

Here’s what Signature Bank focused on rather than sound investments:

A seminar on gender-neutral pronouns hosted by Signature Bank just months before its collapse … featured its chairman Scott Shay along with corporate consultant on gender issues Finn Brigham.

Video of the seminar, which goes for more than an hour, shows Brigham and Shay delivering a lecture about ‘pronouns’ with the ultra-woke company seizing the opportunity to laud their title as the ‘first bank in the United States to have an openly gay man on the board.’

That would be the conspicuously homosexual Democrat Barney Frank. Yet other Democrats tell us that these banks are failing not because of their reckless monetary policy, but because part of Dodd-Frank was repealed.

Brigham, who works as director of project management for the Manhattan-based nonprofit Callen-Lorde Community Health Center – an LGBTQ health clinic – identifies as a ‘genderqueer trans masculine person.’

Too bad they didn’t bring on someone who identifies as a competent banker. But they were too busy wallowing in gag-inducing crap like this:

On a tip from THOUGHTCRIMINAL2084.

To quote the only guy who has been giving even more money to Democrats than disgraced fraudster Sam Bankman-Fried,

That’s why Silicon Valley Bank CEO Greg Becker, ignoring the advice of CNBC clown Jim Kramer, sold $3.6 million worth of stock in his own bank less than 2 weeks before it collapsed. The time has come to jump off the ESG train, which is going off the rails:

A head of risk management at Silicon Valley Bank spent considerable time spearheading multiple “woke” LGBTQ+ programs, including a “safe space” for coming out stories, as the firm catapulted toward collapse.

This collapse was the second largest in American banking history.

Jay Ersapah, the boss of Financial Risk Management at SVB’s UK branch, launched initiatives such as the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth.

Jay explains her qualifications to protect investors by managing risk:

“As a queer person of color and a first-generation immigrant [yadda yadda yadda].”

Jay has been a big success:

Her efforts as the company’s European LGBTQIA+ Employee Resource Group co-chair earned her a spot on SVB’s “outstanding LGBT+ Role Model Lists 2022,” a list shared in a company post just four months before the bank was shut down by federal authorities over liquidity fears.

Being woke, SVB pushed not only sexual perversion but also nonwhiteness and of course the global warming hoax. Check out the title of this SVB press release from last year:

Silicon Valley Bank Commits to $5 Billion in Sustainable Finance and Carbon Neutral Operations to Support a Healthier Planet

Do not entrust your money to flaky ideologues — speaking of which:

[A]s recently as March 7, Treasury Secretary Janet Yellen was urging faster please on ESG [i.e., SVB-style corporate moonbattery]. “A delayed and disorderly transition to a net-zero economy can lead to shocks to the financial system,” she said.

The Biden Regime will probably further inflate the currency to finance a massive bailout of SVB, ensuring a more painful reckoning for all of us when the ESG house of cards inevitably collapses.

Fortunately, not everyone in the government is as clueless as Yoda’s Aunt Janet:

To be sure, plenty have been warning about the dangers of ESG, including House Majority Leader Steve Scalise (R-LA) and also some of those directly tasked with growing and safeguarding pension funds, such as West Virginia State Treasurer Riley Moore. There’s even a new network of right-leaning investment overseers, the State Financial Officers Foundation.

We don’t have to let the contagion spread until the entire economy follows SVB down the crapper. There may still be time to pry Democrats loose from power.

On tips from Chris Neilson, Bluto, Anonymous, KirklesWorth, Jack D, and Gringoman.