Russia and China announce a new global reserve currency

 by Phil T Looker

 22 July 2022

As our Currency Wars page has been warning for years,China and Russia are preparing to take down the the U.S. dollar and replace it with their own global reserve currency.  What may seem bizarre to people who rely on mainstream media for their news, there has been no mention at all of this event in the print or broadcast media of the USA, UK or European Union member states.

It was always on the cards that Russia, China and rest of the BRICS countries would use the CIA / NATO engineered war in Ukraine to launch the main thrust of their economic war on the west, in fact after having written so much in our Currency Wars page about the inevitability of Russia and China challenging the US dollar’s global reserve status, now, it’s happening we can only say: "We Told You So".

It should not surprise anyone who has been paying attention for the past few years, and in particular the current year to date, that Russia and China are strengthening their economic ties partly in response to Western sanctions on Russia as a result of the country’s war in Ukraine and partly because with COVID, Climate Change, the fuel crisis, runaway inflation, food shortages and the war vying for media attention it is an ideal time for Russia and China to make their move. And they have been preparing this dollar replacement strategy for at least the eight years we have been writing about it, and probably longer. 

What is more likely to surprise politicians and the economists who advise them however, is that rest of the BRICS countries, Brazil, India, China, and South Africa,  have joined Russia in the effort and are officially working on their own “new global reserve currency,” RT reported in late June. Three of these were supposed to be the west's allies and fully supportive of sanctions and isolating Russia economically and politically It seems those mainstream media writers who were quick to declare VladimirPutin a busted flush will have to eat their words as the Russian leader has outsmarted them all as they stood in line waaiting to kiss zelenskyyyyy's Ukrainian arse.

“The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” Vladimir Putin said at the BRICS business forum last month.

And as we reported IN 2015 Russia, in collaboration with China set up its own system for processing international financial transactions, almost as if The Kremlin anticipated the western powers would cut off Russian companies from the SWIFT system. With this system in place for several years it will not be difficult to work  with China and the BRICS nations to develop “reliable alternative mechanisms for international payments” in order to “cut reliance on the Western financial system.”

In the meantime,  and again as we predicted earlier this year, Russia is also taking steps to strengthen the alliance between BRICS nations, including re-routing trade to China and India, and via proxies to the west in order to beat sanctions according to CNN:

President Vladimir Putin said Wednesday that Russia is rerouting trade to "reliable international partners" such as Brazil, India, China and South Africa as the West attempts to sever economic ties.

"We are actively engaged in reorienting our trade flows and foreign economic contacts towards reliable international partners, primarily the BRICS countries," Putin said in his opening video address to the participants of the virtual BRICS Summit.

In fact, “trade between Russia and the BRICS countries increased by 38% and reached $45 billion in the first three months of the year” this year, according to that report. Meanwhile, Russian crude sales to China have hit record numbers during Spring of this year, replacing Saudi Arabia as China’s primary oil supplier.

"Together with BRICS partners, we are developing reliable alternative mechanisms for international settlements," Putin said.

In June, Putin also accused the West of ignoring"the basic principles of [the] market economy" such as free trade. "It undermines business interests on a global scale, negatively affecting the wellbeing of people, in effect, of all countries," he said. Love him or hate him you have to admire Vlad's chutzpah.

President Xi echoed Putin’s sentiments, according to a June writeup by Bloomberg.

It is gobsmacking stunned that nobody in western media or the politcal establishment seems to care that arguably the largest shift on the global macroeconomic playing field over the last half century may be taking place.The whole balance of power is being shifted from west to east, aided and abetted by incompetent, virtue signalling retard politicians who have been quite happy to let a seventeen year od Swedish schoolgirl dicate energy and economic policy to them. No wonder the Russian and Chinese leaders are running rings round them.

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Currency Wars

The truth about Britain’s Covid deaths

In view of the hysterical repoting from mainstream media in print and broadcast news formats about the recently released report from The World Health Organisation containing estimates of Covid-related deaths internationally during the pandemic, one could be forgiven for suspecting we are all dead and nobody bothered to tell us. The measurement used to crank up the fear and panic generator to eleve has been the decidedly dodgy 'excess deaths' which is the difference between the number who died of all causes during the pandemic and the number who, on average, died in that period of the year and geopolitical region before the pandemic struck. This enabled sceptics to make comparisons between the British figures and excess deaths for the rest of Europe per 100,000 of the population. And when this blog and other people who have done so crunched the numbers it turns out The UK is not, after all, at the top of the death-league by miles because we all died, some of us several times. In fact the UK sits around the middle of the European excess deaths Champions League.

This is similar to the outcome when, a few weeks ago, the UK Office of National sStatistics (ONS) revealed that around 19.2 million people in ENGLAND alone (i.e. not the whole UK,) have not had a single shot of the non vaccine that does not protect anyone from COVID but appears to make them more vulnerable. The propaganda put out by governments and dutifully parroted by television news and the papers that only 3 million ignorant, irresponsible people continued to pose a threat to the (vaccinated) majority by refusing a single dose of the clotshot.

Though the methodology used to compile the report has attracted serious criticism from neutral statisticians, what really struck most of us alt_news sceptics has, predictably, been ignored by authors of any of the media reports and commentaries on the report I’ve seen, which have all focused on our outcome relative to those of other European countries. We did better than Italy, Spain and Germany but worse than France (but can the cheese eating surrender monkeys' figures be trusted?) when throughout the pandemic media reports had been spun to create the impression that we were doing exceptionally badly.

Infographic source: The Spectator

 

What's really interesting however, is while we are not much different to most of our near European neighbours, Italy, Germany and Spain, for example, had excess deaths respectively of 133, 116, and 111 per 100,000. Britain’s figure was 109. Even the United States was only 140, just ahead of Italy. Differences in the way countries counted or how they defined excess deaths could easily account for the variations in numbers. When we look at the figures a from a different angle, firstly, it is difficult to spot any obvious correlation between the pandemic--suppressing measures taken by different members of the WHO, and the outcomes in terms of excess mortality. This suggests we should have been more suspicious about the measures imposed by governments (lockdowns, mask mandates, travel restrictions etc.) as on the strength of available evidence that none had been successful, which is what epidemiologists who did not have a financial relationship with the companies that make up the Big Pharma Cartel, the World Heath Organisation, national governments or the Bill and Melinda Gates Foundation, the philanthropic charity that has made $£€billions out of the pandemic, had predicted.

Mask-wearing was far less common in Sweden than in Britain, yet we had twice as many excess deaths, though most Swedes live in urban environments, like us. There’s a strong case for serious and exhaustive study of the role of masks, and of the harm they may have caused particularly to people with respiratory problems. We should be demanding that before such measures as mandatory making and lockdowns are imposed again there are controlled trials involving the study of human volunteers. There seems to be some kind of academic horror at this kind of scientific rigour, the sciencetits who rather worhip their mathematical models of a human population, a virus and a pandemic..

Many of us among the 19.2 million vaccine refusniks lost confidence in health advice from doctors, government agencies and media 'experts' a long time ago because it was established in proper scientific trials years ago that surface contact (touching stuff) does not constitute a a significant risk of contracting a virus. In spite of this official advice on washing out hands and using sanitizers rich in carcinogenic chemicals has not been corrected, there remain (at some economic and environmental cost) signs and hand-gel dispensers everywhere, wipes are still being distributed and cleaners are still prancing around dabbing at bannisters and hand-holds. It is a similar story on wearing masks, studies in 2020 showed that the cheap masks handed out everywhere did nothing, zro, zilch, to prevent or slow the spread of COVID and even the more expensive surgical masks had little effect. Yet bot kinds of mask had significant adverse effects relation to non COVID related problems. Why should we believe a government agency, scientific research establishment, academic institution on anything else, if the official advice on this has not changed and they are still pushing these completely ineffective measures and clamouring for more lockdowns which are now known to not only have been an economic disaster but also triggered a pandemic of mental health problems?

Here, though, is the thing that should not have shocked me (because the figures were broadly known) but did (because I did not know them). Some 109 excess deaths per 100,000 in Britain may be twice Sweden’s rate – but it’s still tiny! That’s about one person in a thousand. I had not properly understood how light the casualties have been in the developed world. And though it’s sad when anyone dies at any age, the average Covid-related casualty in Britain has been in the last ten years of his or her expected life, so viewed in terms of years lost the damage is far less severe than that inflicted by epidemics that target the young as well as old.

Yes, yes, ‘one death is one death too many’ etc, and no, I didn’t know these victims personally and if I had I might feel differently. All true enough. But how I feel is not the point. We do need to be able to count. When we count dispassionately we see a pandemic that took relatively few people away. Looking at the past 30 years, the pandemic did cause a sharp year-on-year difference, but there have been others.

Yet in trying to slow its spread (we were honest about that limited ambition, unlike the Australians, New Zealanders, Chinese and South Koreans) we took a two-year wrecking ball to our economy and to the educational and job prospects, not to say the mental health, of millions of our young people.

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Digital Authoritarianism: AI Surveillance Signals The Death Of Privacy

 

Authored by John W. Whitehead & Nisha Whitehead via The Rutherford Institute,

“There are no private lives. This a most important aspect of modern life. One of the biggest transformations we have seen in our society is the diminution of the sphere of the private. We must reasonably now all regard the fact that there are no secrets and nothing is private. Everything is public.” 

- Philip K. Dick

Nothing is private.

We teeter on the cusp of a cultural, technological and societal revolution the likes of which have never been seen before.

While the political Left and Right continue to make abortion the face of the debate over the right to privacy in America, the government and its corporate partners, aided by rapidly advancing technology, are reshaping the world into one in which there is no privacy at all.

Nothing that was once private is protected.

We have not even begun to register the fallout from the tsunami bearing down upon us in the form of AI (artificial intelligence) surveillance, and yet it is already re-orienting our world into one in which freedom is almost unrecognizable.

AI surveillance harnesses the power of artificial intelligence and widespread surveillance technology to do what the police state lacks the manpower and resources to do efficiently or effectively: be everywhere, watch everyone and everything, monitor, identify, catalogue, cross-check, cross-reference, and collude.

Everything that was once private is now up for grabs to the right buyer.

Governments and corporations alike have heedlessly adopted AI surveillance technologies without any care or concern for their long-term impact on the rights of the citizenry.

As a special report by the Carnegie Endowment for International Peace warns, “A growing number of states are deploying advanced AI surveillance tools to monitor, track, and surveil citizens to accomplish a range of policy objectives—some lawful, others that violate human rights, and many of which fall into a murky middle ground.”

Indeed, with every new AI surveillance technology that is adopted and deployed without any regard for privacy, Fourth Amendment rights and due process, the rights of the citizenry are being marginalized, undermined and eviscerated.

Cue the rise of digital authoritarianism.

Digital authoritarianism, as the Center for Strategic and International Studies cautions, involves the use of information technology to surveil, repress, and manipulate the populace, endangering human rights and civil liberties, and co-opting and corrupting the foundational principles of democratic and open societies, “including freedom of movement, the right to speak freely and express political dissent, and the right to personal privacy, online and off.”

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