From the start of America’s war on Russia it was apparent that the economic aspect was key. This war was always intended to quickly bring Russia to its knees as a result of the sanctions onslaught, after which the Russian treasure chest of natural resources
This is a mind blowing paradigm shifting idea I had never thought of and have never seen elsewhere: "Whether America is prepared to concede its control over Western Europe will become the central issue." As a European albeit a Briton, I'm not sure if I should be pleased or displeased by this prospect. I am certainly freaked. All the more so in view of AlexM's "scathing" observations on the ineptitude of the EU, that "Europe is a virtual construct of a political system ... It lives in a fantasy world of its own creation" comment raised in your "It's Getting More Apparent That The US Wants Out Of Ukraine" post.
The best outcome would be the finale on the EU saga and returning Europe to a group of (relatively) sovereign states. The odds of achieving that are low in my estimation, not least because of the success of the Enemy - for want of a better descriptive - in their assault on the moral values that helped create Western Civ. as recently demonstrated by our capacity for being gaslit (mass pyschosis/ delusion). If MacLeod's central issue concept ever inches closer to actual reality, Europe is in for a few really rough years - I mean worse than where we're already headed. Care to weigh in with your thoughts Mark Wauck / everyone?
"As a European albeit a Briton, I'm not sure if I should be pleased or displeased by this prospect."
Having surrendered your sovereignty decades ago, you don't actually get a say in this. And that has been one of Putin's points. Europe's future is, as also its past since at least WW2, is one of dependency. This is between Russia and the US--at the insistence of the US. America is resource rich and separated from Eurasia by two wide oceans and can absorb the dissolution of NATO. The real question is whether the American people can wake up and hold their rulers to account. Beyond that, the US walked away from Afghanistan, it can certainly walk away from Europe.
Can Western Civ, i.e., Christendom, rise from the ashes of Liberal Civ? The signs so far aren't terribly encouraging.
I think the negotiations ship has sailed. It's going to get more humiliating now for the US and Nato with every day that passes. Even the dire European MSM is now admitting that the situation in Ukraine is complex. "The only solution, and even that is likely to be short-term, is for America to step back from the battle for Western Europe and recognise Russia’s right to protect the integrity of her borders." That's a bit like asking Ted Bundy to lay off the women. The only way that will happen is if every western government is completely gutted and taken over by sane leaders. As for Germany, few people realise how beaten and cur-like the national psyche is over there. The guilt over Hitler is still so strong that Germans will do absolutely anything to avoid being seen as nasty, or - horror of horrors - right wing. The other thing people don't realise about the Germans is that they are completely in the thrall of the worst eco-lunatics on the Planet. The Greens are a very small group in the Reichstag, but wield enormous power because of the aforementioned guilt. Unless Scholz grows a pair, the Germans are doomed as a nation.
That ship sank in Washington DC; never got to the Russian dock... Biden blowing the Nordstream up to lock Germany in, like most of the present 'leadership' actions, seemed to empower the Russian position. I've mentioned the west thinks its smarter than everyone else. Not a good MO being on display when it appears NATO and the US can't actually stand behind their threats. Scott Ritter seems to be pretty accurate in his assessments thus far: worst possible point, if fact, Russia has gained -across the board- in this. Military built up; finances doing well (GDP expected to rise!); in leadership of a int'l settlements organization representing over 1/2 the population of the planet (vs. 1.2 Billion under $ hegemony today) and etc. Weak leadership, when cornered is not a good thing, even (especially today) being led by the USA... My Best to you! (WRH)
Sorry gang, I posted my comment before I had a chance to read the other comments.
All I can say is that we all seem to agree that the “blue smoke and mirrors” analogy is an apt one for this house of cards that passes for fiscal competence.
“Ethereal”, interesting characterization, pretty much sums up the “blue smoke and mirrors” that comprise the US economy right now. They’ve got make believe money to go with their fantasy based war “plan”. The Russian’s and the Chinese got manufacturing and gold and we got credit swaps and a multi-trillion dollar deficit. Couple that with the fact that we outsourced virtual everything needed to function as a country to the very people we’re trying to bully? Yeh, seems like a good plan to me, right up there with sticking your face in a fan and toilet training your cat.
Hey SMH, saying the truth, even if not the 1st doing so, doesn't diminish the facts it represents.
Your point of Russia and China maintaining Manufacturing while we shipped it away is probably as significant, as important as just about any other possible these days (in my opinion, more so). The US in the 2nd WW was THE manufacturing power house and, due to real freedom, a great innovator able to produce huge volumes of quality, beneficial (well and deadly) material. Now, we think we're smarter than everybody else and, well, in my limited experience smarty-panses rarely do well when push comes to shove.
I'll note, our fans come with guards because it appears we Americans are stupid enough to try the face-into-fan gig. Claw marks and scratches also exist all over the place; minor learning opportunities that, by all appearances, our leadership failed to take. My best regards to you! (WRH)
The productivity of the US in WW2 was incredible. The shipyards were turning out 3 liberty ships a day by 1943, as well as countless weapons and tons of ammo. And the people were as tough as nails, coming right out of the Depression. That manufacturing power and those kinds of people have gone. This makes the current situation very dangerous. The neocons and MIC still have the same boundless ambitions, but don't have the conventional means or manpower to achieve them. So do they cut their cloth accordingly, or do they resort to the only military solution they have left - nukes?
Point clearly made, S'21. If 'losing a war' was the limit of danger, well our Military/Industrial complex is quite versed at that; it's that last word you used... Weakness when 'finally' cornered is when such extreme behavior is most likely. I don't know what descriptor is adequate to a Nuclear action. Frankly, I suspect the trustworthiness of our own weapons to deploy properly, if at all. Shoot, we can't even keep a stupid balloon from spying overhead of our facilities! Worse, our 'leadership' (I use that term but it isn't accurate) knew of said 'Weather Balloon' for not being one and where it was when over the Aleutian Island chain; even simpleton me can calculate likely paths in air currents when accurate altitudes are known. Yet, it was past our Eastern shores when 'Springing into action, a military jet took out that durn threat!". So, until some major change is evoked: one that may cause much suffering but perhaps grow us (US) up a lot the N threat is real. Past performance IS worthy of future expectations in the present state of affairs. I hope and pray it doesn't include years of Nuclear fallout and related. I suppose the 'we need about 6 billion less people' crowd would be somehow happy, if they survived of course.
I think I'll go back and read your earlier comment on Ft. Knox again. That was a great moment! (WRH)
1st half spot on. Eithre our politicians and NeoCon's do not have critical thinking skills to analyze the economic impact of a conflict like this or rather choose to ignore this as pure arrogance?
The West's current goals seem to be derived from Halford Mackinders "Heartland Theory". Below is an abstract that examines the West's strategy.
"Abstract: In a 1990 document for National Security Strategy, the first Bush Administration noted that “for most of the century, the United States has deemed it a vital interest to prevent any power or group of powers from dominating the Eurasian landmass.”1 This statement is closely aligned to the geopolitical paradigm of Halford Mackinder’s “Heartland Theory,” which states that the power that controls Central Asia—the great pivot—would eventually emerge as the most powerful state in international politics. This paper reassesses the theory in the context of today’s foreign policy by examining U.S, Russian, China, and European Union policy towards Central Asia. The purpose of the paper is to analytically determine the extent to which the theory is still influential in contemporary world politics. The paper is thus formulated around a fundamental question: to what extent is the Heartland theory influential in the current foreign policy of the four great powers— U.S, E.U, Russia and China? The paper ends by concluding that there is substantial evidence of Mackinderian philosophy in the discourse of geopolitics in Central Asia."
Many fronts in the present World's battles exists: how they interweave or at least interact may give insight to the ongoing USA's leadership battles. The Ukraine kinetic front clearly ties with the attack of Russia by Biden's public sanctions however that financial war extends far beyond the Ukraine killing field. The lengthy article Mark pulled from in this posting demonstrates real risks from what I take to be a still unknown 'over-all' war. Forgive my 'wheels within wheels' point of view, but it appears much, much more is at stake while these seeming diverse events continue to unfold into view.
The finances war is complex. to speak via 'Financial Lingo-ese' is distracting however this realm ties into the bigger, unspoken-of war (so needs our attention). I'll simply note, from various and smart financial discussions I've followed, the inevitability of the Kinetic front's outcome will not be a loss of American Dollar functioning but a Bi-Polar financial settlements world. Money can be a 'wise market' as it can eliminate political prejudices in it's evaluations. I agree with the Dollar not being King after all this; it'll be around (just not solo) for some time longer however the leverage exercised by our leadership will be gone and many of the other aspects of this 'Unspoken-of' war will necessarily resolve themselves, tho' likely not to Western Civilization's liking.
A couple points about the Asia-Axis' position strength; I believe the estimates (given in today's article) of Gold possessed by China and Russia to be some what high. That stated, King Dollar has much, much less backing by gold possible (even considering inclusion of the western world's holdings). Coupled with the SCO's beginnings is a fact that I suggest may be one of the most significant drivers of the entire 'Unspoken-of' War and most beneficial to said SCO; the Debt-oriented economy of the west.
If China has 23,000 tons of Gold to put into this struggle; it's debt is around $13 Trillion as opposed to the USA's over $32 Trillion. Ratio of debt to gold is a no-contest China winning formula. Russia's debt ratio similarly is a strength which, in this 'Financial World Based in Debt' we in the west now are existing in (which is how today's 'world order' is being run) means the real danger, the real damage each and every one of us is facing (with no control or recourse) is the collapse of the Fiat dollar. Hegemony loss will be painful but, longer term, with no real arsenal to fight the Eurasian axis / SCO those outcomes will be inestimable in our degree of downfall. Neocons war delight aside, this is about much, much bigger fish gettin' fried.
Luongo's Theory of Everything addresses the battle our Fed may be fighting with Eurodollars; I think perhaps beneath even that battle lies a fight for leadership amongst the Western-Civ losers of this seemingly inevitable Bi-Polar world money struggle. Debt is simply a giant, elephant in the World's room that, in my opinion, will be the base-cause of our painful demise. Crumbs may be what's to be fought over amongs the present west.
I hope I'm wrong on this. The confusion of stuff from Vette-gate to literally millions of lives being at risk or lost as evidenced in Ukraine is real. The glimpses of info provided, gathered if you will, here by Mark are helpful but I'm afraid show a future with bad outcomes dominant. My best to all you folks. (WRH)
I'm sure the dollar won't disappear completely either, no more than sterling did after the end of the British empire. However, it will only be one currency among many now. China's 13 trillion dollar debt sounds positively healthy compared with the US one, doesn't it? Those frugal, thrifty Chinese!
The US has the ability to pull through this--it has vast resources, just not as vast as Russia's. But the US has something else that's rarely appreciated--fresh water that's accessible and in highly usable format and location:
Recognizing the tremendous resources, capacities, fertile land etc. here is truly a point of appropriate optimism. I question just how far astray we can be taken and how much damage done can be wrought before this Country is beyond return to our Constitutional Governance capability. It appears to me that the taking-for-granted of Blessings that made the USA positions 'enjoyed' in today's world, indeed using them for political, financial and (if you will) nefarious works is resulting in catastrophe across the globe. The founders Virtues and Values, Judea/Christian morals -if I may say- are the foundation of those blessings. Simply taking advantage of these material resources will not return to or result in what most of us remember as a God-Fearing founded, Morals based, law and order based, Fair and Just society/culture: the one that truly Led the World. It ain't all Biden's poor leadership being realized; he's just the current 'place holder' of that position. //Best Regards sir! (WRH)//
It does have the ability, Mark, but does it have the leadership and the people? I think most Americans are still solid folks, so maybe there's a chance if they can kick out the evil fools who are currently running things.
I hope not. Russian society had to overcome incredible negative odds to regain some moral health. I hate to say this, but some adversity may be what the US needs at this point--reacquaintance with the reality that earthly existence entails no guarantees or entitlements and is hard on those who think otherwise.
I was in Eastern Europe just after the Soviet collapse. The situation was dire and incredibly depressing. That the Russians came back from that gives hope for us all. However, as I mentioned above, it all depends on the quality of the ordinary people. The Russians back then were tough, just as they are today. We Westerns are the softest bunch of people who have ever lived. I think that you are right and that only real adversity can knock us back into shape for the challenges ahead.
I wonder if the estimate of US gold reserves of 8,134 tonnes is accurate due to the perennial refusal to audit Ft Knox. It would not surprise me in the least if Ft Knox was empty or nearly so.
Good Sunday morn, S21. I laughed out loud at your comment... Thanks! In the future, I'll remember to put my coffee down on my desk b/4 reading your notes. :^) --(WRH)
These clowns don’t exactly distinguish themselves when it comes to strategic thinking, so the idea that they would dismiss the need to keep any gold reserves is very highly probable.
Hello Ms. Anne, it's alleged Munchkin (sorry, I actually like his treasury leadership) viewed the Ft. Knox gold. No accounting provided, of course. Somehow being off the gold standard means such is Top Secret (and leading to the concern that there ain't any or very much). I'll propose it doesn't matter much due to our debt being so far out of whack, relatively. Example is China has a 13 Tril debt and (supposedly) 23,000 tons of gold. (I've heard it's not actually that much) still making for a much 'better' debt to gold ratio to help in a 'gold-linked' payment system to replace the Dollar. Russia is of similar status. USA? 32T+ debt and maybe 8,134 Tons of gold? Not so much... Hope you're having a great weekend! (WRH)
Thank you, Wayne, and the same to you! We should have been trying to cozy up to India, which I believe has the largest stash of gold of all. But instead, we did nothing when they joined BRICS, which was a brilliant move by Chyna and Russia.
G'evening Anne, I Appreciate your perceptive insight and kind words in your reply. India, similarly to China but I think more widely accepted/practiced has very large personal/individual gold ownership. Less totalitarian so the citizenry has more freedom to accumulate gold with less risk of privacy invasion so their gold numbers might be huge while being already in a marketable, widely spread populace. Imagine if gold were seen like our country treated it for a couple hundred years... almost 0 inflation and is honest money. What a concept! Up 'til the the Fed was created... Honest money is less profitable for the elites and especially the non-productive banker types. I hope your Sunday is a great day for you and yours! (WRH)
"I’m not sure what MacLeod means by “ethereal” values. But this clash of “values” has been, for many years, one of Putin’s favored themes. "
Forgive me if I misunderstand you, but I read the values statement as a comment on real, production-based 'valuable' economy vs fake, debt-based 'ethereal' economy.
Like you and AmericanCardigan that was my guess. But it also seems to me that the "woke values" of the West have in some way a connection to our adoption of smoke and mirrors in our economic life. It's all trying to cheat and trick reality.
Exactly. Our whole hemisphere is one big flight from reality on every level. Whether it's thinking that England can win the World Cup, to boys can be girls, to we can build a strong economy of massive debt and QE.
A key point is how the West by seizing Russian currency reserves and assets destroyed the trust that the West is a safe place for investment.
China and Russia are doing minor moves, that add up. They are not into major actions. They have a strategy and a goal, and are methodically working toward it.
The Neocons got distracted by hubris with the victories of resisting the Trump Presidency, amazing Covid policy success of increasing government control, and stealing / preventing his re-election, and seats in congress, plus Jan 6, that have gotten them control over the us government.
I read this as 'it's coming, just a matter of when?' So what are us fiat currency dependents to do? Gold & silver are great things to have, but not necessarily easily purchased or exchanged by the average Joe/Jane. Barter-able items perhaps? My hens have been buying their own feed lately w/the sale of their eggs. Raised/kept chickens for over a decade & it was solely a hobby for my table & dogs' benefit.
G'day CC/DD, Not to sound flippant but in partial jest I've offered metals-buying advice of Purchasing a little gold, more Silver and lots of Brass.
Gold is almost impossible to barter with; silver, particularly coins, are a very good sized commodity, i.e. Gallon of gas for an ounce type thing and brass, well in the proper caliber is a great value for trade and doubles as an indispensable defense tool. While you can't eat Silver you can eat what you shoot... and defend your silver in the process. Hope you got a small chuckle outta that... the realities of this on-going USA led world debacle don't care but having a smile now and again is a darn good thing. :^) (WRH)
A good method, if expensive to get in hand. I've just thought once you begin using the 1-gram pieces they are a bit small to manage with a very high value. A gram is around $61, bullion/melt price. I suspect prices, for example Gas would rise comparable to Gold/Silver value such that 1 gram Gold would buy roughly 15 gallons today and under duress same amount. Not bad, a tank full in my car. Smaller value items, food for example, makes it a tougher value to barter in. Plus, those 1gram pieces are really about 1/2 again Melt value... But I believe one should have gold in their kit! Of course, those silver coins will be useful as change, too. (WRH)
Funny you mention Jeeves, Mark. Evelyn Waugh always said that PG Woodhouse's creations would be a great comfort to future generations living through difficult times.
Ah Jeeves! Just the man to save the day! Unfortunately I think we can assume the Bidens were incapable of appreciating someone with Jeeves’ wit, skill, intelligence and discretion, let alone employing him! If they had, that laptop would have been picked up on time!
Buying up and storing physical gold is all well and good, but when you go to use it to buy something someday during the coming collapse, you become a target. Word will quickly get out that you have gold, and somebody will surely be coming to take it off your hands.
This is a mind blowing paradigm shifting idea I had never thought of and have never seen elsewhere: "Whether America is prepared to concede its control over Western Europe will become the central issue." As a European albeit a Briton, I'm not sure if I should be pleased or displeased by this prospect. I am certainly freaked. All the more so in view of AlexM's "scathing" observations on the ineptitude of the EU, that "Europe is a virtual construct of a political system ... It lives in a fantasy world of its own creation" comment raised in your "It's Getting More Apparent That The US Wants Out Of Ukraine" post.
The best outcome would be the finale on the EU saga and returning Europe to a group of (relatively) sovereign states. The odds of achieving that are low in my estimation, not least because of the success of the Enemy - for want of a better descriptive - in their assault on the moral values that helped create Western Civ. as recently demonstrated by our capacity for being gaslit (mass pyschosis/ delusion). If MacLeod's central issue concept ever inches closer to actual reality, Europe is in for a few really rough years - I mean worse than where we're already headed. Care to weigh in with your thoughts Mark Wauck / everyone?
"As a European albeit a Briton, I'm not sure if I should be pleased or displeased by this prospect."
Having surrendered your sovereignty decades ago, you don't actually get a say in this. And that has been one of Putin's points. Europe's future is, as also its past since at least WW2, is one of dependency. This is between Russia and the US--at the insistence of the US. America is resource rich and separated from Eurasia by two wide oceans and can absorb the dissolution of NATO. The real question is whether the American people can wake up and hold their rulers to account. Beyond that, the US walked away from Afghanistan, it can certainly walk away from Europe.
Can Western Civ, i.e., Christendom, rise from the ashes of Liberal Civ? The signs so far aren't terribly encouraging.
I think the negotiations ship has sailed. It's going to get more humiliating now for the US and Nato with every day that passes. Even the dire European MSM is now admitting that the situation in Ukraine is complex. "The only solution, and even that is likely to be short-term, is for America to step back from the battle for Western Europe and recognise Russia’s right to protect the integrity of her borders." That's a bit like asking Ted Bundy to lay off the women. The only way that will happen is if every western government is completely gutted and taken over by sane leaders. As for Germany, few people realise how beaten and cur-like the national psyche is over there. The guilt over Hitler is still so strong that Germans will do absolutely anything to avoid being seen as nasty, or - horror of horrors - right wing. The other thing people don't realise about the Germans is that they are completely in the thrall of the worst eco-lunatics on the Planet. The Greens are a very small group in the Reichstag, but wield enormous power because of the aforementioned guilt. Unless Scholz grows a pair, the Germans are doomed as a nation.
That ship sank in Washington DC; never got to the Russian dock... Biden blowing the Nordstream up to lock Germany in, like most of the present 'leadership' actions, seemed to empower the Russian position. I've mentioned the west thinks its smarter than everyone else. Not a good MO being on display when it appears NATO and the US can't actually stand behind their threats. Scott Ritter seems to be pretty accurate in his assessments thus far: worst possible point, if fact, Russia has gained -across the board- in this. Military built up; finances doing well (GDP expected to rise!); in leadership of a int'l settlements organization representing over 1/2 the population of the planet (vs. 1.2 Billion under $ hegemony today) and etc. Weak leadership, when cornered is not a good thing, even (especially today) being led by the USA... My Best to you! (WRH)
Sorry gang, I posted my comment before I had a chance to read the other comments.
All I can say is that we all seem to agree that the “blue smoke and mirrors” analogy is an apt one for this house of cards that passes for fiscal competence.
“Ethereal”, interesting characterization, pretty much sums up the “blue smoke and mirrors” that comprise the US economy right now. They’ve got make believe money to go with their fantasy based war “plan”. The Russian’s and the Chinese got manufacturing and gold and we got credit swaps and a multi-trillion dollar deficit. Couple that with the fact that we outsourced virtual everything needed to function as a country to the very people we’re trying to bully? Yeh, seems like a good plan to me, right up there with sticking your face in a fan and toilet training your cat.
Hey SMH, saying the truth, even if not the 1st doing so, doesn't diminish the facts it represents.
Your point of Russia and China maintaining Manufacturing while we shipped it away is probably as significant, as important as just about any other possible these days (in my opinion, more so). The US in the 2nd WW was THE manufacturing power house and, due to real freedom, a great innovator able to produce huge volumes of quality, beneficial (well and deadly) material. Now, we think we're smarter than everybody else and, well, in my limited experience smarty-panses rarely do well when push comes to shove.
I'll note, our fans come with guards because it appears we Americans are stupid enough to try the face-into-fan gig. Claw marks and scratches also exist all over the place; minor learning opportunities that, by all appearances, our leadership failed to take. My best regards to you! (WRH)
The productivity of the US in WW2 was incredible. The shipyards were turning out 3 liberty ships a day by 1943, as well as countless weapons and tons of ammo. And the people were as tough as nails, coming right out of the Depression. That manufacturing power and those kinds of people have gone. This makes the current situation very dangerous. The neocons and MIC still have the same boundless ambitions, but don't have the conventional means or manpower to achieve them. So do they cut their cloth accordingly, or do they resort to the only military solution they have left - nukes?
Point clearly made, S'21. If 'losing a war' was the limit of danger, well our Military/Industrial complex is quite versed at that; it's that last word you used... Weakness when 'finally' cornered is when such extreme behavior is most likely. I don't know what descriptor is adequate to a Nuclear action. Frankly, I suspect the trustworthiness of our own weapons to deploy properly, if at all. Shoot, we can't even keep a stupid balloon from spying overhead of our facilities! Worse, our 'leadership' (I use that term but it isn't accurate) knew of said 'Weather Balloon' for not being one and where it was when over the Aleutian Island chain; even simpleton me can calculate likely paths in air currents when accurate altitudes are known. Yet, it was past our Eastern shores when 'Springing into action, a military jet took out that durn threat!". So, until some major change is evoked: one that may cause much suffering but perhaps grow us (US) up a lot the N threat is real. Past performance IS worthy of future expectations in the present state of affairs. I hope and pray it doesn't include years of Nuclear fallout and related. I suppose the 'we need about 6 billion less people' crowd would be somehow happy, if they survived of course.
I think I'll go back and read your earlier comment on Ft. Knox again. That was a great moment! (WRH)
1st half spot on. Eithre our politicians and NeoCon's do not have critical thinking skills to analyze the economic impact of a conflict like this or rather choose to ignore this as pure arrogance?
2nd half spot on. Putin's smarter than the average bear. Petro dollar beware. https://www.reuters.com/business/energy/indian-refiners-pay-traders-dirhams-russian-oil-2023-02-03/
The neocons are probably not as intelligent as they believe themselves to be. They are also blinded by an irrational hatred of Russia.
The West's current goals seem to be derived from Halford Mackinders "Heartland Theory". Below is an abstract that examines the West's strategy.
"Abstract: In a 1990 document for National Security Strategy, the first Bush Administration noted that “for most of the century, the United States has deemed it a vital interest to prevent any power or group of powers from dominating the Eurasian landmass.”1 This statement is closely aligned to the geopolitical paradigm of Halford Mackinder’s “Heartland Theory,” which states that the power that controls Central Asia—the great pivot—would eventually emerge as the most powerful state in international politics. This paper reassesses the theory in the context of today’s foreign policy by examining U.S, Russian, China, and European Union policy towards Central Asia. The purpose of the paper is to analytically determine the extent to which the theory is still influential in contemporary world politics. The paper is thus formulated around a fundamental question: to what extent is the Heartland theory influential in the current foreign policy of the four great powers— U.S, E.U, Russia and China? The paper ends by concluding that there is substantial evidence of Mackinderian philosophy in the discourse of geopolitics in Central Asia."
https://www.creighton.edu/fileadmin/user/CCAS/departments/PoliticalScience/MVJ/docs/The_Pivot_-_Alcenat_and_Scott.pdf
Many fronts in the present World's battles exists: how they interweave or at least interact may give insight to the ongoing USA's leadership battles. The Ukraine kinetic front clearly ties with the attack of Russia by Biden's public sanctions however that financial war extends far beyond the Ukraine killing field. The lengthy article Mark pulled from in this posting demonstrates real risks from what I take to be a still unknown 'over-all' war. Forgive my 'wheels within wheels' point of view, but it appears much, much more is at stake while these seeming diverse events continue to unfold into view.
The finances war is complex. to speak via 'Financial Lingo-ese' is distracting however this realm ties into the bigger, unspoken-of war (so needs our attention). I'll simply note, from various and smart financial discussions I've followed, the inevitability of the Kinetic front's outcome will not be a loss of American Dollar functioning but a Bi-Polar financial settlements world. Money can be a 'wise market' as it can eliminate political prejudices in it's evaluations. I agree with the Dollar not being King after all this; it'll be around (just not solo) for some time longer however the leverage exercised by our leadership will be gone and many of the other aspects of this 'Unspoken-of' war will necessarily resolve themselves, tho' likely not to Western Civilization's liking.
A couple points about the Asia-Axis' position strength; I believe the estimates (given in today's article) of Gold possessed by China and Russia to be some what high. That stated, King Dollar has much, much less backing by gold possible (even considering inclusion of the western world's holdings). Coupled with the SCO's beginnings is a fact that I suggest may be one of the most significant drivers of the entire 'Unspoken-of' War and most beneficial to said SCO; the Debt-oriented economy of the west.
If China has 23,000 tons of Gold to put into this struggle; it's debt is around $13 Trillion as opposed to the USA's over $32 Trillion. Ratio of debt to gold is a no-contest China winning formula. Russia's debt ratio similarly is a strength which, in this 'Financial World Based in Debt' we in the west now are existing in (which is how today's 'world order' is being run) means the real danger, the real damage each and every one of us is facing (with no control or recourse) is the collapse of the Fiat dollar. Hegemony loss will be painful but, longer term, with no real arsenal to fight the Eurasian axis / SCO those outcomes will be inestimable in our degree of downfall. Neocons war delight aside, this is about much, much bigger fish gettin' fried.
Luongo's Theory of Everything addresses the battle our Fed may be fighting with Eurodollars; I think perhaps beneath even that battle lies a fight for leadership amongst the Western-Civ losers of this seemingly inevitable Bi-Polar world money struggle. Debt is simply a giant, elephant in the World's room that, in my opinion, will be the base-cause of our painful demise. Crumbs may be what's to be fought over amongs the present west.
I hope I'm wrong on this. The confusion of stuff from Vette-gate to literally millions of lives being at risk or lost as evidenced in Ukraine is real. The glimpses of info provided, gathered if you will, here by Mark are helpful but I'm afraid show a future with bad outcomes dominant. My best to all you folks. (WRH)
I'm sure the dollar won't disappear completely either, no more than sterling did after the end of the British empire. However, it will only be one currency among many now. China's 13 trillion dollar debt sounds positively healthy compared with the US one, doesn't it? Those frugal, thrifty Chinese!
The US has the ability to pull through this--it has vast resources, just not as vast as Russia's. But the US has something else that's rarely appreciated--fresh water that's accessible and in highly usable format and location:
https://twitter.com/QuetzalPhoenix/status/1620851964740517889
Recognizing the tremendous resources, capacities, fertile land etc. here is truly a point of appropriate optimism. I question just how far astray we can be taken and how much damage done can be wrought before this Country is beyond return to our Constitutional Governance capability. It appears to me that the taking-for-granted of Blessings that made the USA positions 'enjoyed' in today's world, indeed using them for political, financial and (if you will) nefarious works is resulting in catastrophe across the globe. The founders Virtues and Values, Judea/Christian morals -if I may say- are the foundation of those blessings. Simply taking advantage of these material resources will not return to or result in what most of us remember as a God-Fearing founded, Morals based, law and order based, Fair and Just society/culture: the one that truly Led the World. It ain't all Biden's poor leadership being realized; he's just the current 'place holder' of that position. //Best Regards sir! (WRH)//
It does have the ability, Mark, but does it have the leadership and the people? I think most Americans are still solid folks, so maybe there's a chance if they can kick out the evil fools who are currently running things.
I hope not. Russian society had to overcome incredible negative odds to regain some moral health. I hate to say this, but some adversity may be what the US needs at this point--reacquaintance with the reality that earthly existence entails no guarantees or entitlements and is hard on those who think otherwise.
I was in Eastern Europe just after the Soviet collapse. The situation was dire and incredibly depressing. That the Russians came back from that gives hope for us all. However, as I mentioned above, it all depends on the quality of the ordinary people. The Russians back then were tough, just as they are today. We Westerns are the softest bunch of people who have ever lived. I think that you are right and that only real adversity can knock us back into shape for the challenges ahead.
Within the character of the citizen lies the welfare of the nation. —Cicero
Guess we’re gonna get to see what Americans are made of.
I wonder if the estimate of US gold reserves of 8,134 tonnes is accurate due to the perennial refusal to audit Ft Knox. It would not surprise me in the least if Ft Knox was empty or nearly so.
Audits are so yesterday, Anne. Like elections and binary sexes.
I suspect that Ft Knox contains a dozen bored guards playing crap games, and a few empty boxes of Oreos.
Good Sunday morn, S21. I laughed out loud at your comment... Thanks! In the future, I'll remember to put my coffee down on my desk b/4 reading your notes. :^) --(WRH)
Glad to spread a bit of humour in these strange days, Wayne. Have a great week!
Two big thumbs up on that idea!!
These clowns don’t exactly distinguish themselves when it comes to strategic thinking, so the idea that they would dismiss the need to keep any gold reserves is very highly probable.
They called gold “the barbarous relic,” so you’re probably right.
Hello Ms. Anne, it's alleged Munchkin (sorry, I actually like his treasury leadership) viewed the Ft. Knox gold. No accounting provided, of course. Somehow being off the gold standard means such is Top Secret (and leading to the concern that there ain't any or very much). I'll propose it doesn't matter much due to our debt being so far out of whack, relatively. Example is China has a 13 Tril debt and (supposedly) 23,000 tons of gold. (I've heard it's not actually that much) still making for a much 'better' debt to gold ratio to help in a 'gold-linked' payment system to replace the Dollar. Russia is of similar status. USA? 32T+ debt and maybe 8,134 Tons of gold? Not so much... Hope you're having a great weekend! (WRH)
Thank you, Wayne, and the same to you! We should have been trying to cozy up to India, which I believe has the largest stash of gold of all. But instead, we did nothing when they joined BRICS, which was a brilliant move by Chyna and Russia.
G'evening Anne, I Appreciate your perceptive insight and kind words in your reply. India, similarly to China but I think more widely accepted/practiced has very large personal/individual gold ownership. Less totalitarian so the citizenry has more freedom to accumulate gold with less risk of privacy invasion so their gold numbers might be huge while being already in a marketable, widely spread populace. Imagine if gold were seen like our country treated it for a couple hundred years... almost 0 inflation and is honest money. What a concept! Up 'til the the Fed was created... Honest money is less profitable for the elites and especially the non-productive banker types. I hope your Sunday is a great day for you and yours! (WRH)
Russia cannot destroy the dollar. Only our Congress can do that , and they are doing a bang-up job!
"I’m not sure what MacLeod means by “ethereal” values. But this clash of “values” has been, for many years, one of Putin’s favored themes. "
Forgive me if I misunderstand you, but I read the values statement as a comment on real, production-based 'valuable' economy vs fake, debt-based 'ethereal' economy.
Like you and AmericanCardigan that was my guess. But it also seems to me that the "woke values" of the West have in some way a connection to our adoption of smoke and mirrors in our economic life. It's all trying to cheat and trick reality.
Exactly. Our whole hemisphere is one big flight from reality on every level. Whether it's thinking that England can win the World Cup, to boys can be girls, to we can build a strong economy of massive debt and QE.
Understood. Plenty of that to go around.
I would suggest “deny” reality. Economically, militarily, socially and politically these folks seem to always check the box marked “fantasy”.
I believe the intent is to describe "ethereal" as a euphuism for "smoke and mirrors".
Nothing "on the verge" about it. It IS a crime against humanity.
Alasdair MacLeod Article is useful.
A key point is how the West by seizing Russian currency reserves and assets destroyed the trust that the West is a safe place for investment.
China and Russia are doing minor moves, that add up. They are not into major actions. They have a strategy and a goal, and are methodically working toward it.
The Neocons got distracted by hubris with the victories of resisting the Trump Presidency, amazing Covid policy success of increasing government control, and stealing / preventing his re-election, and seats in congress, plus Jan 6, that have gotten them control over the us government.
Yep. They thought Putin was like Trump but with better judo moves.
I read this as 'it's coming, just a matter of when?' So what are us fiat currency dependents to do? Gold & silver are great things to have, but not necessarily easily purchased or exchanged by the average Joe/Jane. Barter-able items perhaps? My hens have been buying their own feed lately w/the sale of their eggs. Raised/kept chickens for over a decade & it was solely a hobby for my table & dogs' benefit.
"Agley" is a brand new word to me. Thanks Mark!
G'day CC/DD, Not to sound flippant but in partial jest I've offered metals-buying advice of Purchasing a little gold, more Silver and lots of Brass.
Gold is almost impossible to barter with; silver, particularly coins, are a very good sized commodity, i.e. Gallon of gas for an ounce type thing and brass, well in the proper caliber is a great value for trade and doubles as an indispensable defense tool. While you can't eat Silver you can eat what you shoot... and defend your silver in the process. Hope you got a small chuckle outta that... the realities of this on-going USA led world debacle don't care but having a smile now and again is a darn good thing. :^) (WRH)
Ps., Mark is both a much, much better historian and humorist than me. But his tolerance of my tryin' is commendable (and appreciated - thanks Mark!)
A good method, if expensive to get in hand. I've just thought once you begin using the 1-gram pieces they are a bit small to manage with a very high value. A gram is around $61, bullion/melt price. I suspect prices, for example Gas would rise comparable to Gold/Silver value such that 1 gram Gold would buy roughly 15 gallons today and under duress same amount. Not bad, a tank full in my car. Smaller value items, food for example, makes it a tougher value to barter in. Plus, those 1gram pieces are really about 1/2 again Melt value... But I believe one should have gold in their kit! Of course, those silver coins will be useful as change, too. (WRH)
It's a word I got from "the poet Burns," as Jeeves would say.
Funny you mention Jeeves, Mark. Evelyn Waugh always said that PG Woodhouse's creations would be a great comfort to future generations living through difficult times.
True. Some of my favorite PGW are the short stories, especially Freddie Widgeon (Drones Club stories) and some of the Mulliners.
Ah Jeeves! Just the man to save the day! Unfortunately I think we can assume the Bidens were incapable of appreciating someone with Jeeves’ wit, skill, intelligence and discretion, let alone employing him! If they had, that laptop would have been picked up on time!
Buying up and storing physical gold is all well and good, but when you go to use it to buy something someday during the coming collapse, you become a target. Word will quickly get out that you have gold, and somebody will surely be coming to take it off your hands.