This will get ugly. We are going to see increasing Western belligerence and the baiting of Russia while President Putin has all but accepted now that war is inevitable. Both sides are as stubborn as the other though the prize for agent provocateur would have to go to the West. Unfortunately, empires know not how to die with dignity. While it’s all sabre rattling and economic tit-for-tat – with no major hostilities on the immediate horizon – we are rapidly approaching a point of economic and political nihilism (as well perhaps as the early stages of deployments around Ukraine). Next move: this week’s NATO summit in Wales with David Cameron as lead shrill. (See The Nail In The Petrodollar Coffin: Gazprom Begins Accepting Payment For Oil In Ruble, Yuan, by Tyler Durden of Zero Hedge).
Therefore rejoice, ye heavens, and ye that dwell in them. Woe to the inhabiters of the earth and of the sea! for the devil is come down unto you, having great wrath, because he knoweth that he hath but a short time.
The BRICs are arranging an alternative to the World Bank/IMF system and also to the petrodollar, as Gazprom will begin accepting payment in Rubles and Yuan, and escalating US/EU sanctions against Russia appear to be backfiring. There is a suggestion also that provoking the Ukraine situation may be to entice a premature move by Russia to place the Ruble into reserve currency status, and thereby blame Putin for the coming US dollar collapse. A growing sense of isolation of the US as an economic superpower sees her increasingly making geopolitical waves. She can sense that her time to act is running out.
For the whole story listen to Jim Willie, Golden Jackass of the Hat Trick Letter, in a discussion with the TF Metals Report of the Silver Doctors. Given California’s Monterey shale extractable (economic) reserve estimates have been decimated — cut by 95%, i.e. from the initial EIA estimate of 13.7 billion bbl to 600 million bbl, we can see why the anxiety. And the anxiety will turn to rage.
For nothing is secret, that shall not be made manifest; neither any thing hid, that shall not be known and come abroad.