for alastair crooke.
The radical attitude adopted by the West towards Russia runs the risk of collapsing the entire economic system with which it has imposed its rule over the planet.
These “wars” are increasingly seen in the West as existential events, that is, “all or nothing” events, and their scope is widening. Why wars in the plural? Well, the military confrontation in the Ukraine is about to reach its climax; the war over Russia’s sweeping changes to the global monetary order plunges Western states into a voiceless maelstrom; Europe is on the brink of the economic abyss; and the Russia-China ‘war’ to reshuffle the global ‘rules’ is also coming to an end (although it is proceeding at a slightly slower pace).
The Western PSYOPS war, however, is truly one of a kind. The wall of toxicity that swells, rises and crashes on the shores of Russia represents a marine storm unlike any we have ever seen. His intention is clearly to blacken President Putin beyond “evil”, to turn him into a satanic fiend so twisted that any sane Russian oligarch will rush to replace him with a more tame, Yeltsin-like figure.
It just doesn’t work. Western officials behind the PSYOPS “curtain” don’t know when to stop. They pull the levers harder and turn the dials higher and higher, until the wave of visceral hatred against all things Russian has created the opposite effect: not only is Putin more popular, but it has triggered a Russian backlash against Russia. West as a country. everything.
Thus, the net effect has been precisely to turn the Ukraine issue into a Manichaean existential nightmare. the anglo-saxon world written in headlines that “war is all or nothing”: if Putin is not defeated (in the sense of being totally defeated in battle), the West simply cannot survive.
The problem with the West taking things to an all-or-nothing climax is that it also risks being “nothing.” In fact, it is clear that it is not allowed to argue with the “evil” demonic forces: there is no political dialogue, therefore. All or nothing.
The obvious corollary to this binary confrontation of good and evil is that the rest of the world must be subjected to a grand inquisitorial mechanism to uncover, and then force, heretics to recant any failure to support Ukraine against Russia, under penalty. to be burned at the stake. The inquisitors are spreading all over the world: Euro-repeat offenders are the first (the Orbàns); the Pakistan, India, Turkey, Gulf States, etc. follow, continue.
Only, once again, it doesn’t work. The non-Occident feels in the air an empire that is weakening, that wavers, that shakes, like Hercules who descends armed with his sword to Hades (the underworld) to look for the three-headed dog Cerberus, whose head spreads human fear. . of what awaits us around the next corner. (Fear, in fact, rises.)
And that is what drives this all-or-nothing fear: the sea change heralded by Russia’s insistence on being paid in rubles (for now, only for gas deliveries) and by an already resurgent ruble, now tied to gold and raw materials.
Playing both sides: pegging the ruble to gold, then pegging energy payments to the ruble, the Bank of Russia and the Kremlin are fundamentally changing all the operating assumptions of the world trading system (by replacing evanescent dollar transactions with solid transactions). . currency transactions, backed by commodities), while triggering a reorientation of gold’s role as a bulwark of the monetary system.
If the majority of the international trading system begins to accept rubles for the supply of raw materials, it could boost what Wall Street guru Zoltan Pozsar foresees such as the death of the petrodollar and the arrival of Bretton Woods III (ie a new world monetary order).
The world is watching intently. They can see the landscape in motion. When the collective West seized all of the Russian Central Bank’s foreign exchange reserves, the latter decreed that Russian sovereign reserves in euros, dollars, and US Treasury bills were no longer “good money.” They had no value as “currency” to pay off debts to foreign creditors.
The message was pretty clear: if even a major G20 state can cancel its reservations in a heartbeat, then for those who still have “reservations” in New York, get them elsewhere (while possible)! Because the trading currencies of tomorrow will be backed by commodities and no longer by constant dollars.
Of course, of those who are attentive to another aspect (oil prices in the market), the most observant will be China (with its huge gold reserves) and the main producers of crude oil who will perceive that Russia’s actions, if they continue to , could lead to Russia not only snatching gold. LBMA and COMEX (bullion exchanges) pricing but who knows, in combination with other producers, also wresting gold pricing from oil on US commodity exchanges?
In a very real sense, the West feels an existential danger. We are not just talking about de-dollarization, but about something more fundamental. The Western financial system is made up of an inverted pyramid of highly leveraged paper money “instruments” (many of which are known as derivatives), resting on the smallest base, the top of the inverted pyramid. This is called “inside money.”
It is one magnitude larger than its collateral supports at its base, sometimes called “outer silver”. Foreign money represents something real: oil, gas, energy, food, metals, etc. A guarantee that is real.
Withdraw the outside money from the bottom of the inverted pyramid…and (potentially), crash.
Well, that’s what’s happening. Putin is moving Russian gas away from the base of the pyramid by insisting that the entire payment process and the value of the collateral remain within the realm of the ruble. And if other states do the same and extend it to other raw materials… Crash.
The irony is that the West has brought this situation upon itself. Putin did not. They did it. They did it when the Russia-phobic “hawks” in Washington stupidly started a fight with the only country, Russia, that has the necessary raw materials to lead the world and trigger the shift to a different monetary system: an alternative system, anchored in more than just fiat money, backed by nothing more than the ability of the Federal Reserve to endlessly print dollars.
And then they destroyed the US Treasury’s “full faith and promise” to commit to contractual payment, stealing Russian reserves.
source : Al-Mayadeen
translation International network