Michael Hudson: The petrodollar will remain between the United States and its allies. But alongside it, there will be the Saudi-yuan and India-yuan arrangements for trade in oil, minerals, industrial products and probably international investment. Trade in these products will be able to occur in a number of currencies, probably on a number of exchanges. It is not clear whether some formal or informal arbitrage may develop between these areas. That is part of what is to be designed. To oversee and regulate the resulting financial and trade arrangements, an alternative to the IMF is needed. The U.S. will not join any organization in which it does not have veto power, so we will see a division of the world into different trading and monetary areas. The result is not so much a conflict as two quite different operating philosophies as the non-U.S. world develops its alternative to financialized neoliberalism.
Andrei: The US has basically stolen Russian gold and foreign currency. The Russians claim that the US has shot itself in the foot and that this will ruin the reputation of the dollar, do you agree with that?
Michael Hudson: Absolutely: Iran after the Shah was overthrown, Afghanistan’s foreign reserves earlier this year, Venezuela’s gold held in the Bank of England, and now Russia. Even timid Germany has asked that airplanes begin flying its gold held in the New York Fed back to Germany!
The sanctions packages implemented since then were already prepared. They were happening no matter what move Putin made. There was no different outcome here, only the dates on which these events were going to take place.
NATO chose the place. Putin chose the time. Everything else is chatter and noise...
So, contracts be damned, it’s gold or rubles for natural gas, unfriendly Europe.
It’s bitcoin or local currencies for everyone else.
Ukraine will be neutral. China will remain friendly. Words matter when a person wants them to matter.
And from where I’ve sat these past ten years the Russians have honored their words while the West has used them as weapons.
Instead, the alliance has decided to strengthen the defense of its own territories. Four additional multinational NATO combat groups of 40,000 troops will be deployed in Bulgaria, Hungary, Romania and Slovakia on a permanent basis.
Biden offered to Ukraine to resolve territorial issues with Moscow itself, but left the opportunity for the alliance to use force against Russia. The US President noted that NATO could intervene in the conflict in the case of the use of chemical weapons in Ukraine. Given the example of false flag chemical weapon attacks in the war in Syria, the risks of provocation by the Kiev regime and the threat to civilians and military alike on the territory of Ukraine have increased.
Poland’s proposal to deploy NATO military units in Ukraine was rejected. However, this does not exclude the possibility of Poland’s participation in the war in Ukraine outside the alliance. Warsaw intends to introduce its contingent in the western regions of Ukraine to support the “fraternal Ukrainian people” and not miss the opportunity to establish its own control over the historically disputed territories. Apparently, this will be the main topic of negotiations between Biden and Duda on March 26.
China has already launched its own digital yuan and is piloting its use in more than a dozen cities and regions. It has also been experimenting with its cross-border functionality. This has ignited fears in the West that that U.S. “financial leadership” is under threat — fears that have been magnified by the way US and EU sanctions against Russia, particularly the confiscation of a large chunk of Russia’s foreign currency reserves have backfired...
That power could be used to “program” our spending.
No limit on negative interest rates.
Financial exclusion on steroids.
Lyons warns that CBDCs, “if not deliberately and carefully constrained in advance by law,… have the potential to become even more than a technocratic central planner’s dream. They could represent the single greatest expansion of totalitarian power in history.”
The piece quotes an unnamed analyst at the Pentagon’s Defense Intelligence Agency (DIA) saying, “The heart of Kyiv has barely been touched. And almost all of the long-range strikes have been aimed at military targets.”
A retired U.S. Air Force officer now working as an analyst for a Pentagon contractor, added: “We need to understand Russia’s actual conduct. If we merely convince ourselves that Russia is bombing indiscriminately, or [that] it is failing to inflict more harm because its personnel are not up to the task or because it is technically inept, then we are not seeing the real conflict.”
A look at a study from 2020
Like McFadden, Robinson developed multiple blood clots after his J&J jab, including one in his jugular vein. He’s now taking blood thinners and can’t do stunts, so he’s losing money — more than the wage cap of $50,000 established under the Countermeasure Injury Compensation Program (CICP), the government-run program for compensating people injured by COVID vaccines or other countermeasures.
‘If the government’s going to force you to do something, they should provide compensation if they’re screwing you over,’ he said.”...
...“Vaccine injury compensation may be a last line of support for families confronting devastating or lifelong medical conditions because we don’t have a medical or social safety net that reliably keeps sick and disabled people out of poverty in this country” ...