Russia and China Are Brewing Up a Challenge to Dollar Dominance

GURPS

INGSOC
PREMO Member
🚀 NATO’s escalation appears to be a direct response to a HUGE story you can’t easily find in Western Media. Yesterday, Business Insider ran a quiet story headlined, “Russia and China Are Brewing Up a Challenge to Dollar Dominance by Creating a New Reserve Currency.”



China and Russia announced late last week they are creating a competing “Eurasian IMF” plus a new commodities-backed reserve currency. One implication is that countries who join could have no incentive to pay back international debts in Dollars and Euros.

“We are ready to openly work with all fair partners,” Putin announced at the BRICS Business Forum last week. ING’s global head of markets Chris Turner explained to investors that the move “will allow BRICS to build their own sphere of influence and unit of currency within that sphere.”

The new currency is not really a ‘new’ reserve currency. The “SDR” is based on a basket of currencies made up of the Dollar, the Euro, the British Pound, the Japanese Yen, and China’s Yuan. In other words, it would replace the Dollar as the world’s reserve currency.

It’s smart. Nobody has to bet on an all-new currency. And right now, the other currencies in the basket are looking a lot stronger than the Dollar.

Thanks Joe Biden! Gosh, that was fast.



 

gary_webb

Damned glad to meet you
Next story in same publication:

🚀 Biden’s bellicose confidence looks to be wilting like a warmed-up lettuce garnish that sat too long under the heater before being served. In the wee hours at 2AM this morning, CNN released a story — read by a handful of bleary-eyed insomniacs before it was buried under the regular morning news — headlined “Biden Officials Privately Doubt That Ukraine Can Win Back All of Its Territory.” It’s the most fact-filled and truthful story CNN has run in three years.

You might need to sit down first, if you’ve been believing the official corporate media narrative about how Russia has been badly losing, confounded by the brave and diverse freedom-fighting Ukrainians, who’ve been heroically assisted by chiseled CIA commandos and NATO’s glorious unified support, all while relentless economic sanctions have shrunk the Russian bear into a miniature Pomeranian. Or something.

Anyway, it turns out all that wasn’t exactly true. But they had good intentions.

Anonymous U.S. officials told CNN that the White House is losing confidence that Ukraine will EVER be able to take back all of the land it has lost to Russia, even when it gets the heavier and more sophisticated weaponry the US and its allies are planning to send. The second sentence of the article drops this MOAB:

“Advisors to President Joe Biden have begun debating internally how and whether Ukrainian President Volodymyr Zelensky should shift his definition of a Ukrainian ‘victory’ — adjusting for the possibility that his country has shrunk irreversibly… Internally, there is a sense among some in the Biden administration that Zelensky will need to start moderating expectations for what Ukrainian forces can realistically achieve.”
Okay, this is all a horrible tragedy and a living nightmare for Ukraine’s people, and I don’t want to zip by that grim fact too quickly. But come on. You have to admit the sentence I quoted above is comedic GOLD. (“That’s gold, Jerry! Gold!”)

They’re not figuring out how to win the ACTUAL war. Biden wants to lend Zelenskyy his best POLITICAL weapon: redefining stuff. Like “covid deaths,” “cases,” or even “woman,” for that matter. Things not going your way? Just change the definition and voilá! You’re back in business.

So Biden is telling Zelenskyy, c’mon man, all you need to do is change the definition of ‘victory’ to something you can handle, and it’s all good. But Zelenskyy is thinking, I won’t last ten seconds after I sign a peace deal that gives away half the country, and who is this old guy and why does he keep sniffing my daughter’s hair?

Following the traditional recipe, CNN then consulted its handpicked experts. A “US military official” and a “source familiar with Western intelligence” (another reporter!) agreed “it was unlikely that Ukraine would be able to mass the force necessary to reclaim all of the territory lost to Russia during the fighting — especially this year.”

The article reports that according to Ukrainian officials, Russian forces now control more than half of the eastern Ukrainian region of Donetsk. Ukraine was forced to retreat from the key eastern city of Severodonetsk on Friday after weeks of bloody battles. Russian forces also captured ground around Lysychansk, the last city in the eastern Luhansk region still controlled by Ukraine. Ukrainian military commanders are now grappling with the reality that they may have to withdraw from that area and try to defend territory to the west.

Worse, Ukraine appears to lack any ability to mount an effective counterassault. CNN said “Ukraine has struggled to repel Russia’s advances in the Donbas and has suffered staggering troop losses, reaching as many as 100 soldiers per day. Ukrainian forces are also burning through their equipment and ammunition faster than the West can provide.”

As if that weren’t bad enough, the ENTIRE WORLD is burning through ammo. At least, for the kinds of weapons the Ukrainians use. The article reported that the U.S. and its allies “have been scrounging the world for the kind of Soviet-era ammunition that fits the equipment Ukraine already has, including 152 mm artillery ammunition. NATO-standard weapons fire larger, 155mm rounds. But … that effort is effectively reaching its end, with almost everything available that countries are willing to provide having already gone in.”

That can’t be good for business.

Not to mention, “Russian oil revenues have only been going up as oil prices have skyrocketed, even amid the harsh sanctions imposed by the West.” What? Sanctions failed? This can’t be true, let’s ask the experts! … oh, never mind. They’re over there in the corner, counting their toes, baffled again.

But don’t worry! The Administration can get even more moronic. According to CNN, they’re considering … price controls! “US officials said on Monday that the US and its allies are going to try capping the price of oil so Russia does not profit from it anymore, but how and when that cap will take effect remains to be seen.”

Uh-huh. Ask people who were drivers in the 1970’s about how well price controls work. Those drooling idiots are going to sanction us back to the stone age.

Link: https://www.cnn.com/2022/06/28/politics/white-house-ukraine-projection/index.html.

PS: Whatever it looks like, I am NOT mocking the Ukrainian people or their suffering. I mock lying corporate media and the government psyops teams, which once again are being forced to “pivot” now that reality is becoming literally undeniable. And I wonder, I really wonder, about all the people whose brains are so plastic they can credulously keep up with the ever-changing narrative without missing a stitch.
 
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