Commenter Ray So-Cal must have a direct line to somebody: Russian banks rush to switch to Chinese card system Reuters ^ Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator's system coupled with Russia's own Mir network, after Visa and MasterCard said they were suspending operations in Russia.
China built up a system where there are alternatives as much as possible for Western Technology. This was done through joint ventures that forced technology sharing, or just banning Western Internet services (Facebook, Google, Twitter) to allow local alternatives to flourish in a protected market. I believe something similar has been done in financial stuff such as credit cards, forcing the use of union pay in China (it works at all Chinese atm’s).
Lots of western internet services, such as payment processors, have political tests for customers. If you get on the naughty list of southern poverty law center, you will get kicked off Amazon, PayPal, and many other internet services. Deplatforming happens. A conservative website I talked to the founder mentioned they were forced to migrate to a new site, and the new provider would not have taken the if they were on the southern poverty list.
Us Banks have also been politicized to go after gun related businesses. Big tech used Jan 6 as an excuse to censor trump from Facebook, Twitter, and Google.
In Russia in the Yeltsin era there was a free for all where Western financial institutions and others were allowed in, such as Visa and Mastercard, with no control. Not like China.
Now with Western Sanctions, Putin is using it to reduce Western technology and financial influence / power. This is a huge win for Putin, and the West gets the blame for the accompanying pain for the transition to non Western controlled alternatives.
Yep. Good read. American mindset to think "if it wasn't invented here... " we're terrible at anticipating threats regardless where they come from and then preparing options on how best to address. Our ignorance and pride is our own demise.
CTH and others submit that the fusion of big biz/big tech and big government/WEF/etc means that the consolidation of the new world order proceeds apace.
QUESTION: could not this Russian invasion restore the idea of the nation-state, or at least a bi-polar world order? The green agenda is on the ropes (at least for now). Trust is on the ropes. Single-handedly Vlad has renewed 'patriotism' in Ukraine and elsewhere. What's next?
Not that apt on economics. I am limited to understanding that my paycheck hits the bank & I pay my bills w/it. Presuming there is a sound basis to what Kanekoa is saying, what does this mean to the American worker & how do we protect ourselves?
Inflation, De-dollarization, and Russia's Ultimate Goal for War in Ukraine
I followed one of the download links from Kanekoa's article to the podcast below. It was informative & insightful, imo, even tho I didn't necessarily agree w/various opinions of the host. What was clear to me after listening is that it's time for me to stop procrastinating & get a firm grip on what bitcoin is, does & how to use it regardless of whether I actually invest. That the govt can swoop down & steal bank accts w/any excuse it deems is applicable on every level.
What is not so clear to me is the ultimate result if Xi & Putin are able to take the wind out of the current monetary system's sails? A "Great Reset" for sure, but not the one Klaus Schwab has been advertising?
Russia Ukraine War And Global Macro Impacts With Luke Gromen
Caution against bitcoin or other cryptos. See Catherine Austin Fitts for her cogent argument that the gangsters can effectively control cryptos at this point. If crisis gets to point where gangsters shut down bank accounts etc... we will be in a world where buying essentials may require gold or silver coin or other tangible assets that can be bartered. Highly reccomend Fednando Aguilerre book distilling his experience through the Argentina meltdown of the 2000s. Practical advice.
1. I doubt that Russia and China planned this invasion out for very long in advance--although they certainly have for at least the last year.
2. Putin felt able to do the invasion because Russia is now at a strategic advantage: good missile defense combined with so-far unstoppable hypersonic weapons.
As for the rest, there's no doubt that the Russians have gamed out the effects of sanctions and believe they can absorb them through various means. So it mostly all fits together. However, confrontation has never been Putin's preferred approach. He has for twenty years repeatedly tried to reach out to the West and has been consistently stiffed--by the US. We forced his hand.
The economic implications of what is transpiring are the object of my interest & attention.
Far be it for me to argue "we" (US decision makers/NATO) didn't force Russia's hand - I couldn't! However, I cd probably cobble together an argument that Putin is playing the cards he has been dealt (repeatedly by US/Western Europe) in the most strategically beneficial manner at the best timing possible.
We now have a governmental and financial establishment (both here and in the EU) filled with people who do not believe in economic private property rights (the rights to use and dispose of personal private property at will). They believe, instead, that what property we have is deeded to us by them, and THEY can collect and dispose of it whenever they wish ("you did not build that"). Other countries are now coming to this realization. The full enforcement of these beliefs will mean, effectively, the end of all personal freedom and in fact the end of what we have called Western Civilization.
Yep, draw Putin and Xi, along with their economies, closer together! What could possibly go wrong?
This 👇 is an interesting big picture perspective that corresponds to your thinking Mark, I think. https://twitter.com/TsarKastik/status/1500487928836984837?t=ivxwqk4OOo5-J7_ylzpCEw&s=19
See the brand new post, which plays into that, IMO.
Think the "My Pillow" guy Mike L. can go this route too as his banks in Minnesota have canceled him.
China built up a system where there are alternatives as much as possible for Western Technology. This was done through joint ventures that forced technology sharing, or just banning Western Internet services (Facebook, Google, Twitter) to allow local alternatives to flourish in a protected market. I believe something similar has been done in financial stuff such as credit cards, forcing the use of union pay in China (it works at all Chinese atm’s).
Lots of western internet services, such as payment processors, have political tests for customers. If you get on the naughty list of southern poverty law center, you will get kicked off Amazon, PayPal, and many other internet services. Deplatforming happens. A conservative website I talked to the founder mentioned they were forced to migrate to a new site, and the new provider would not have taken the if they were on the southern poverty list.
Us Banks have also been politicized to go after gun related businesses. Big tech used Jan 6 as an excuse to censor trump from Facebook, Twitter, and Google.
In Russia in the Yeltsin era there was a free for all where Western financial institutions and others were allowed in, such as Visa and Mastercard, with no control. Not like China.
Now with Western Sanctions, Putin is using it to reduce Western technology and financial influence / power. This is a huge win for Putin, and the West gets the blame for the accompanying pain for the transition to non Western controlled alternatives.
Yep. Good read. American mindset to think "if it wasn't invented here... " we're terrible at anticipating threats regardless where they come from and then preparing options on how best to address. Our ignorance and pride is our own demise.
And Putin has more tricks up his sleeve.
CTH and others submit that the fusion of big biz/big tech and big government/WEF/etc means that the consolidation of the new world order proceeds apace.
QUESTION: could not this Russian invasion restore the idea of the nation-state, or at least a bi-polar world order? The green agenda is on the ropes (at least for now). Trust is on the ropes. Single-handedly Vlad has renewed 'patriotism' in Ukraine and elsewhere. What's next?
That's the other side of the argument that some are making. I'm open to it.
Not that apt on economics. I am limited to understanding that my paycheck hits the bank & I pay my bills w/it. Presuming there is a sound basis to what Kanekoa is saying, what does this mean to the American worker & how do we protect ourselves?
Inflation, De-dollarization, and Russia's Ultimate Goal for War in Ukraine
https://kanekoa.substack.com/p/inflation-de-dollarization-and-russias?s=r
Tx. Will ck it out. You're not alone.
I followed one of the download links from Kanekoa's article to the podcast below. It was informative & insightful, imo, even tho I didn't necessarily agree w/various opinions of the host. What was clear to me after listening is that it's time for me to stop procrastinating & get a firm grip on what bitcoin is, does & how to use it regardless of whether I actually invest. That the govt can swoop down & steal bank accts w/any excuse it deems is applicable on every level.
What is not so clear to me is the ultimate result if Xi & Putin are able to take the wind out of the current monetary system's sails? A "Great Reset" for sure, but not the one Klaus Schwab has been advertising?
Russia Ukraine War And Global Macro Impacts With Luke Gromen
https://podcasts.apple.com/us/podcast/btc067-russia-ukraine-war-global-macro-impacts-w-luke/id928933489?i=1000552647765
Caution against bitcoin or other cryptos. See Catherine Austin Fitts for her cogent argument that the gangsters can effectively control cryptos at this point. If crisis gets to point where gangsters shut down bank accounts etc... we will be in a world where buying essentials may require gold or silver coin or other tangible assets that can be bartered. Highly reccomend Fednando Aguilerre book distilling his experience through the Argentina meltdown of the 2000s. Practical advice.
I read the article. I disagree on two points.
1. I doubt that Russia and China planned this invasion out for very long in advance--although they certainly have for at least the last year.
2. Putin felt able to do the invasion because Russia is now at a strategic advantage: good missile defense combined with so-far unstoppable hypersonic weapons.
As for the rest, there's no doubt that the Russians have gamed out the effects of sanctions and believe they can absorb them through various means. So it mostly all fits together. However, confrontation has never been Putin's preferred approach. He has for twenty years repeatedly tried to reach out to the West and has been consistently stiffed--by the US. We forced his hand.
The economic implications of what is transpiring are the object of my interest & attention.
Far be it for me to argue "we" (US decision makers/NATO) didn't force Russia's hand - I couldn't! However, I cd probably cobble together an argument that Putin is playing the cards he has been dealt (repeatedly by US/Western Europe) in the most strategically beneficial manner at the best timing possible.
I understood what you were saying, just wanted to be clear for my part.
Mary, you'll want to read the new post.
Cf. New post.
"isolation becomes a two-way street. The American bully might be the one to avoid."
Crying "sanctions" once too often? It's a risk benefit calculation, but that's not a one time calc.
We now have a governmental and financial establishment (both here and in the EU) filled with people who do not believe in economic private property rights (the rights to use and dispose of personal private property at will). They believe, instead, that what property we have is deeded to us by them, and THEY can collect and dispose of it whenever they wish ("you did not build that"). Other countries are now coming to this realization. The full enforcement of these beliefs will mean, effectively, the end of all personal freedom and in fact the end of what we have called Western Civilization.
Your body is also your property... or at least it used to be.
Almost like a race btw full realization & full implementation. Call me Pollyanna - I'm placing my bet that realization stymies implementation.