How The BRICS Summit Surpassed The G7 & G20 As The World’s Most Influential Gathering

 via Great Game India

The 16th BRICS Summit, held in Kazan, Russia, from October 22 to 24, wasn’t just another meeting of world leaders. It marked a turning point in global politics. For the first time, this summit was viewed as more influential globally than the meetings of the G7 or G20, which typically dominate world discussions.

This year's summit was more worthy of our attention than usual because four new countries—Egypt, Ethiopia, Iran, and the UAE—joined as official BRICS members in January. This move expanded BRICS beyond the original membership of Brazil, Russia, India, China and South Africa. As Russia hosted a gathering of 36 world leaders, the expanding BRICS+ initiative looks to be a growing obstacle to the hegemony US and its allies hoped to exercise.

Established in 2009, and later expanded in 2024, the BRICS+ geopolitical bloc draws its name from its original members (Brazil, Russia, India, China and South Africa) but now also includes Iran, Egypt, Ethiopia and the UAE.Significantly Saudi Arabia has been invited to join and has slready abandoned its committment to accept payment for oil exports only in US dollars, while others, such as Turkey, are also expected to join. Its members already constitute 45% of the world’s population and 28% of its economic output.

As such, it is often described as a geopolitical counterweight to the G7.  Russia and Iran and China are alrady collaborating to challence challenging the dominance in international trade of the dollar. The most important country is of course China, and China has been sitting on the fence over US led sanctions of Russia and Iran. The most likely reason China has held back from fully supporting the US against Russia and Iran is because Chinese state-controlled banks also do not want to be cut off from the US dollar and Wall Street.

And as long as China remains integrated in the global financial system centered on the US dollar, China is effectively the largest foreign funder of everything the US does, including sending weapons to Ukraine that are used against Russia and Taiwan that are pointed towards China.

China is of course also deeply integrated in global supply chain and trade networks,having become the wokshop of the world as net - zero obsessed wesern leaders have deindustrialised their economies, thus offshoring not only their CO2 emissions but jobs and revenue into the bargain. With the Chinese economy stuggling, any serious moves to decouple from this global dollar system could back fire disastrously.

BRICS+ is a reltively young organisation integration and coherence is rocky at best which should caution us to make any future projections based on current relationhips rather than deeper structural forces. strained relations between China and India, which significantly hampers collective BRICS action to the point of incoherence. Also, it is notable that Saudi Arabia has not yet joined along with UAE even though they said they would, and detente between the Shia Musim government of Iran and the Saudi Sunni Muslim monarchy has only taken place recently.

The original BRICS members were never as united as the G7 even without these new members.

The first step for the BRICS+ to challenge the West would be to build consensus for such a project to replace or at least seriously challence the Dollar, which does not exist, and most importantly to sell more oil in a currency other than the US dollar. And as this publication has reported extensively in the past that project is already well under way.

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War On Cash To Escalate In 2024

Visa Files Patent Application: 0200151682 to Create A "Digital Currency."  Corrupt US Officials Plan to Eliminate Physical CASH! 

Early last week Boggart Blog learned Globalists within the US Government and the banking and finance industry have announced a plan to launch a Digital Fiat Currency that would enable seamless transfers of funds between banks and tax jurisdictions as a major step towards banning cash. Bankers and politicians claim this is essential to protect business and private funds against the actions of hostile nations and to eliminate money laundering by organised crime networks. This is bollocks because neither of those goals could possibly be achieved. We, and others in the alt_news environment suspect the real reason for the move is to allow governments, NGOs such as the World Health Organisation (WHO) and World Economic Forun (WEF) to curtail our rights and liberties by being able to remotely (and automatically,) control our finances.

Watch this video to learn more of the long term plan to deny us the right to use cash and thus retain personal control of our finances.

The Great Taking - Documentary
David Webb exposes the system Central Bankers have in place to take everything from everyone.
https://www.youtube.com/watch?v=dk3AVceraTI

The U.S. Patent and Trademark Office (USPTO) website contains a page showing that VisaV +0.2% has filed a patent application to create digital currency on a centralized computer using blockchain technology. This patent applies to digital dollars as well as other central bank digital currencies such as pounds, yen, and euros so the physical currency of a central bank anywhere in the world could be digitized.

Described as ‘Digital Fiat Currency’ the patent was initially filed by Visa on November 8, 2019, with the USPTO commenting today, “It takes quite a while...” to publish the filing of a patent. Visa’s patent is described as a central entity computer that receives requests that include the serial number and denomination of a physical currency.

The creation of the digital currency and the removal of the physical currency from circulation in a fiat currency system is recorded on a blockchain.

The Visa has patent application hints at using the Ethereum (ETH) blockchain as the medium for processing transactions.

The application details two records, one of which would indicate “the digital currency for an amount associated with the denomination has been created for a public key associated with a digital wallet.” 

The other record notes the “removal of the physical currency from circulation in a fiat currency system.”

 
“Every time a unit of digital currency is generated, the central entity ensures that a corresponding physical dollar bill is removed from circulation, to regulate the value of the digital fiat currency.” Unfortunately Ethereum is just a bit suspect to be considered a safe medium for all our financial activity. Other sources report that ETH Founders’ are involved in a fraud bigger than FTX scandal of 2023. 

ETH Linked With Corrupt US Officials
Following his statement of Ethereum allegedly being involved in fraudulent schemes higher than Sam Bankman-Fried’s FTX crypto currency exchange fraud case, Steven Nerayoff disclosed that founders Joseph Lubin and Vitalik Buterin have allegedly been colluding with corrupt US government officials from some of the highest federal agencies. 
 
The lawyer who has insider knowledge of the Ethereum blockchain and the digital currency (ETH) is supports, having worked for the blockchain network previously, has come forward with explosive allegations regarding the actions of Ethereum founders, Vitalik Buterin, and Joseph Lubin.
 
“Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than FTX,” Nerayoff stated. 
 

The Great Taking Exposes The Financial End Game & The CIA

We are now living within a hybrid war conducted almost entirely by deception and thus designed to achieve war aims with little energy input. It is a war of conquest directed not against other nation-states but against all of humanity. Deep State organisations such as the US CIA have, in collaboration with the World Economic Forum (WEF - a private World Domination Society for billionasirepsychopaths,) have developed plans which would, if We The People tolerate it, take control of everyone's home, car, property, pensions, etc.

Agreements have been reached with world governments including all 50 US States on the plan of consolidating absolute power over everything. The primary documentary evidence adduced by Webb would be sufficient to incarcerate all of these culprits, if not condemn them to capital punishment.

This has been made to happen through the dark magic of false news and propaganda narrative. This alone has been a great crime against humanity. 

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Currency Wars - Russia calls on BRICS to ditch US dollar

This blog reported organised moves by certain eastern nations to replace the US$ as the global reserve currency over ten years ago. Since then we have monitored developments in the so - called Currency Wars as they unfold, including China's launch of the Petroyuan as a rival to the Petrodollar, plans to return to a kind of gold standard economy to stabilise global trade in the face of increasing political instability and the unsustainable debt burden of the USA, and the rise of cryptos, digital currencies.

And as we write this note, things are hotting up:

from "RT, 18 December 2023

The sustainable development of financial relations and settlements within the BRICS organization is very important for all member states, Russian Finance Minister Anton Siluanov has said.

The statement was made at the Russia-China Financial Dialogue forum in Beijing on Monday, where Siluanov met with his Chinese counterpart, Lan Foan.

The BRICS group of emerging economies – which currently incorporates Brazil, Russia, India, China, and South Africa – has been discussing ways to facilitate payments in local currencies between member countries. The bloc aims to reduce their reliance on the US dollar and the euro for accelerated growth.

“We need to further develop financial cooperation within the BRICS countries. Here we see opportunities ... to develop a payments system that would be independent of the infrastructure, which does not always fully fulfill the goals of individual countries,” Siluanov stated.

“Therefore, the sustainable development of financial relations and settlements on the BRICS platform is important for us, and we believe that it is necessary to work out such issues, and today we will consider a number of them,” he added.

READ MORE: BRICS overtaking G7 in economic might – Bloomberg

Russia and its trade partners among developing nations, including fellow BRICS members, have started to switch to alternative currencies in mutual trade, after sanctions effectively cut Moscow off from the Western financial system. A growing number of nations are turning to national currency settlements in trade.

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Our government keeps talking about economic recovery, so does the Obama administration in the USA and the bureaucratic dictatorship of unelected penpushers in the European Union headquarters, Brussels. but in the perception of most people, things are not getting better, in fact they are getting worse. So where's this economic 'growth' they keep talking about. Well nothing is ever what is seems to be, all the economic growth is in prostitution, drug dealing, gun running and smuggling ...

New Global Crisis Imminen, New Geneva Report Warns

The Geneva Report refers to a “poisonous combination of high and rising global debt and slowing nominal GDP [gross domestic product], driven by both slowing real growth and falling inflation”. The total burden of world debt, private and public, has risen from 160 per cent of national income in 2001 to almost 200 per cent after the crisis struck in 2009 and 215 per cent in 2013. “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt to GDP ratio is still growing, breaking new highs,” the report said.

Cashless Society - The Resistance Begins Here
A seaside market town in Norfolk may be less than 100 miles from the world's financial capital, London, , it may be the commercial centre of West Norfolk’ as the town website boasts, it may be home to 45,000 people — but there, unlike in London, cash is king.

Establishment Pushing ‘Cashless Society’ to Control Humanity
The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.Multiple governments from Africa and Asia to Europe and ...

BRICS Centralized Clearing To End Dollar Dominance

The status of vthe USDollar as global reserve currency has beeen under threat for some years now, initially because of the way the US government abused its position as issuer of the reserve currency to force unequal terms and conditions on its trading partners, and latterly also because of US militarism, meddling in the political affairs of sovereign nations.

Recently, as we have been  reporting regularly in our Cunnency Wars feature page, China has set up the Petroyuan, an alternative to the Petrodollar which since an agreement between the USA and Saudi Arabia has been the only vehicle for settling international oil trades, and Russia has set up a rival to US owned SWIFT, the electronic, inter - currency system for settling cross - border transactions.

 China and Russia have also been increasing their geopolitical influence in South East Asia, Africa and South America and having established the BRICS trading bloc in partnership with Brazil, India and South Africa. Since the election victory of the imperialistic Democrat Party in the US 2020 electionmany other nations have submitted applications to join BRICS.

With the massive populations of China, India and Brazil , and the vast reserves of natural resources in Russia, Brazil and South Africa BRICS is already a formidable bloc economically and should the bloc launch a coordinated bid to oust the US dollar as reserve currency it will be difficult for an already weakened US / NATO blog to hold the line.

If BRICS were to agreed on how to centralize financial clearing, then they’ve already agreed on their universal settlement medium. That is Gold

Last Friday (2 June) ZeroHedge, responding to latest moves in the far east in a story titled Massive: Gold Closer to Centralized Clearing in BRICS Solution to SWIFT commented

This is huge on many levels. We will gleefully break it down best we can in our Weekly post Sunday. It lies directly on the path of “things to do” when building an alternative to SWIFT.

As promised. This podcast unpacks why the BRICS nations are agreeing on Centralized Clearing as a solution to counterparty risk necessitates Gold as the medium of exchange in *all* future international trade.

With the USA always teetering on the brink of insolvency while American society disintegrates around the bewildered geriatric in The White House while Biden's loonytoons administration continues to focus on transgender and gay pride issues, and the EU suffocating under a blanket of bureucracy, the timing for setting up a rival reserve currency could not be better. 

MORE posts on Currency Wars

 

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Curency Wars: China To Settle $582,300,000,000 in Yuan Worldwide In Push to Circumvent US Dollar

 The currency war we have been reporting on for ten years at least, the bid by China and its allies led by Russia and Iran, to replace the US$ as global reserve currency is hotting up.

For some time now China has quietly been making deals, first with its BRICS partners but more lately with all takers, to abandon the Bretton Woods convention by which international trades are customarily settled in U S dollars. A few years ago China, in collaboration with Russia and Iran, created the Petroyuan as a rival for the Petrodollar, the vehicle in which all crude oil futures contracts were made since the early 1970s.

Gradually at first, but now at an accelerating rate, nations are agreeing to trade in Yuan or in the currency of the vendor's nation. The Chinese government says it’s now signed $582.3 billion worth of global currency settlement agreements that will exclusively utilize the yuan.

According to a new report from the Chinese state news organisation, China Daily, the country’s central bank has inked deals with more than 40 countries and regions since 2016.

As for the countries involved in the pacts, China highlights Russia, Venezuela, the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait and Saudi Arabia.

China says its moves are designed to boost the yuan’s role in international trade and circumvent the need of developing nations to depend on the US dollar and thus be vulnerable to coercion by the US government. The Mafia - like way Washington operates its resrve currency scam has been illustrated by the response to the war in Ukraine. The American government tried to stop weaker nations doing business with Russia by threatening economic sanctions on those countries which broke US imposed trade embargoes.

A statement from China's overseas trade department reads: “There is a need to promote cross-border yuan settlement to make bilateral trade more efficient and boost the yuan’s internationalization process…

To be sure, cross-border trade settlement in the yuan will reduce many countries’ dependence on the US dollar.”

China says direct settlement in the yuan will also shield countries against the “weaponized dollar”, pointing to sanctions levied against Russia in the aftermath of the country’s invasion of Ukraine.

As should now be clear to anyone who follows international news, the sanctions imosed on trade with Russia by the USA, EU and NATO has backfired badly and harmed the sanctioning nations more than those targeted. This is because business that previously have been conducted directly between Russia and nations involved in sanctions is now being routed via China, India, Pakistan, Itan, Syria and Turkey.

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De - Dollarisation: China, Brazil Make Deal To Ditch US Dollar For Bilateral Trades
China and Brazil this week concluded a deal to conduct trade between their nations in their own in their own currencies, ditching the established reserve currency for global trade, US dollar as an intermediary, the Brazilian announced said on Wednesday. This is Beijing’s latest strike against the almighty greenback in its currency war aimed at shifting the balance of geopolitical and economic power from west to east.

NATO Rhetoric About Russian Threat is 'Absurd'
The reasons being given for the latest NATO military buildup in Eastern Europe, the idea that the Russian 'Russian threat' to Eastern Europe grows every day is "simply absurd," according to former US diplomat and Senate policy advisor Jim Jatras. Effectively, Jatras says, the buildup is an attempt by the US to keep Germany and France on board with Washington's world domination agenda and ...

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly
Significant moves in the global chess game have just rendered the huffing and puffing of warmonger Obama meaningless and will break Wall Street's monopoly in controlling oil markets. The move is part of Vladimir Putin's long-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, in effect ...

Naked Bankers Go For Gold
... That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly In a move that went almost completely unreported in mainstream media, Russia has recently opened a market for the trading of physical and 'paper' oil (futures) in Moscow in Roubles. This is the most blatant challenge yet to the domination of the US dollar in world trade.

WMD in Mayfair
Recalling yesterday's Machiavelli Blog which commented on events surrounding the unfortunate death of the alleged former Russian agent Alexander Litvinenko, it seems the murder investigation has now found evidence of many caches (well OK, traces) of radio active toxins in various fashionable establishments in London's West End frequented by former Russian intelligence agents.

China launches global yuan payment system
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar's dominance.

Refugee Crisis Or Existential Battle With USA for Europe
It has been clear for some years now that the USA, backed by its main NATO and EU military allies the UK and France (the FUKUS axis has been trying to provoke Russian into firing the shot that will be heard around the world and recognised as the startiung signal for World War Three.
Nothing is ever as it seems to be however, and views from middle east and far eastern journals suggest the USA is also working at destabilizing EU nations in order to force their support in its wars.

EU and US talk of war with Russia
The European People’s Party (EPP) is the largest political group in the European Parliament, and they are unerringly supportive of America's efforts to start a war with Russia. “The time of talk and persuasion with Russia is over," MEP and Vice-President of the EPP told a meeting on Tuesday, 21 April, “Now it’s time for a tough policy, and concentration on defence and security ...”

The Mediterranean Boat People Crisis - How Does Europe Deal With The Mediterranean Migrant Crisis
The numbers of migrants trying to cross from the Libya on the coast of north Africa to one of the EU's southern nations is increasing. Europe's impoverished southern nations can't cope. And in the better off nations of northern Europe immigration is a toxic issue which is fuelling the rise of anti EU parties from France to Finnland in the north and Hungary in the east. What can be done?

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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Will Commodities Be The New Reserve Currency As The Death Knell Of The Dollar Sounds?
Many respected economists and market analysts who favour the free markets approach concur that we are heading towards a new economic reality that will see the collapse of the US$ as the default reserve currency, to be replaced not by any other fiat currency such as the Euro or the Renminbi, but by a system in which  commodities are the primary denominator of value. Should this turn out to be the case we can expect an acceleration of the shift in geopolitical power from west to East.

We The Good Guys Versus They The Bad Guys Reporting Does Not Make Sense For The Ukraine Crisis
Mainstream media reporting of the conflict in Ukraine has disappointed. Perhaps I was naive to suppose that lessons might have been learned from the hits their print sales and online traffic rates took as a result of their handling the COVID pandemic But instead of focusing on the most obviously newsworthy aspect of the build up to and escalation of the war, Russia’s view of NATO expansion into Ukraine and even further to Georgia and Kazakhstan, news reports have simply demonised Russia and portrayed Ukraine as the good guys.

Europe's Depleted Gas Storage Might Not Get Refilled Ahead Of Next Winter
While mainstream news reporting of the conflict in Ukraine continues to pump out a torrent of anri - Russia, pro - war propaganda the catastropic effects of this war that could so easily have been avoided are not mentioned. Well why would warmongering governments admit they have inflicted an energy crisis, food shortages and soaring living costs on their people for no good reason ...

More Nations backing Away From The US$
Russia Just Sent out a Message NATO Should Better Listen To
The key paragraph from the latest official Russian naval doctrine is that Putin and his military advisers have sent a clear message that NATO encroachment is unacceptable. To be honest, there is nothing earth shattering in this, The Daily Stirrer and many other alternative media news and analysis sites have been warning for about two years that Obama's foreign policy was making conflict inevitable.

De - dollarization Moves Ahead - Once Again We Told You So,
What Putin Wants
China Warns U.S. to Stop Its Ukrainian Proxy War Against Russia
The World Rejects USA Attempt To Manipulate Venezuela
India's Ruling BJP Party Crushed In Regional Poll
Another Conspiracy Theory Becomes Fact: Oil Collapse Is All About Obama's Proxy War With Russia.
G77 Nations vow to destroy petrodollar and America’s New World Order
American Dollar Dumped
Iran's Oil and the US Dollar
Money From Rock Better Than Money From Air
Currency Wars

News Summary - 15 July 2022

 

Economic Fallout From Soaring Dollar Could Trigger Summer Of Discontent

As part of a perfect storm of crises, energy starvation, food shortages and runaway inflation, and with the central banks of the world's most powerful economic nations raising interest rates to protect their currencies, something had to break. Sri Lanka has been first, its recent default on foreign debt and the collapse of the government in the face of popular riots against food shortages and rising prices causing  President Gotabaya Rajapaksa to flee the country yesterday has been the most drastic effect to date.

Sri Lanka is a small, poor nation which is why it is one of the first to be hit. More significant perhaps it the farmers protest in The Netherlands against rising prices, energy shortages and EU environmenta policy which as we reported recently is seen as an attack on the agricultural sector of Netherlands and other member states' agricultural sector as UK magazine Farmers Weekly reported.

The Dutch farmers are angered by government support for an EU policy that will require them to use less fertilizer and reduce livestock herd sizes. Amsterdam's Schiphol airport has been blockaded and KLM, the Dutch arm of Air France, advised travellers to use public transport, rather than cars, to reach the airport, as farmers' activist groups cordinating their protest through social media used tractors to block roads.

Several major highways across the country have been blocked by convoys of slow moving tractors and farm vehicles.

At the heart of the protest are targets introduced last month to halve harmful nitrogen compounds by 2030. It is the latest attempt to tackle a problem that has plagued the country for years. The government says that emissions of nitrogen oxide and ammonia, which are produced by livestock, need to be drastically cut - particularly near a protected network of habitats for endangered species that stretches across the EU.

The reforms are expected to include reducing livestock and buying up some farms whose animals produce large amounts of ammonia.

Farmers argue they are being unfairly targeted, giving them little hope for the future of their profession.

This latest authoritarian and economically suicidal policy imposed on member states governments by the EU is the latest in what is starting to look like an attack by the ruling elites on civilisation.

 Bad economic policy, the Covid-19 non pandemic and, ultimately the global food and energy crisis resulting in serious shortages and exacerbated by the EU's response to the conflict in Ukraine, tipped the country over the edge. Reports are now filtering in that the protest movement  has spread to other EU nations, in a show of solidarity, German, Italian, Spanish and Polish farmers have launched protests, in what is fast becoming an EU-wide campaign against “anti-farming” policies.

But the crisis in Sri Lanka also points to broader economic malaise arising from currency volatility. For one, the strong dollar has its mirror image in a sharp depreciation of many currencies around the world. There is hardly any developing/emerging market currency that has escaped the stronger dollar. Bear in mind also that dollar-claims (loans and debt securities) on the non-financial sector in emerging markets and developing countries reached a record of nearly USD 4 trillion last year, after more than a decade of easy monetary policy and risibly low interest rates. As such currency volatility in developing markets is something is unlikely to disappear in the foreseeable future.

The dollar strength is due to US Central Bank The Federal Reserve raising interest rates aggressively. The Bank of England has followed suite with more modest rate increases. 

Of course the biggest eye-catcher in recent days has been the euro, which yesterday dipped below the psychologically important level of parity with the US$. It’s understandable that investors are running for cover by transferring their holdings to cash with stock exchange indexes around the world sinking on whether the next step by central banks will be even bigger hike by  after its last 75bp and the ECB not even having started to raise interest rates yet even though this is making the effect of sanctions on energy imports from Russia even worse for Germany, Netherlands, France and Italy which due to the EU's misguided war on fossil fuels in pursuit of the idiotic 'net zero' target for reduction of Carbon Dioxide emissions.

 

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Nato’s Ukraine crusade hits the buffers of reality

By Donald Forbes, TCW Defending Freedom, July 14, 2022

THE outraged chorus in the West after Russia’s invasion of Ukraine seems distant, though that intoxicating shot of moral adrenaline occurred less than five months ago. Now there is a hangover which has segued into panic about what we have done to ourselves and about the unavoidable consequences.

NATO, led by the demented, geriatric idiot Joe Biden, has committed the strategic blunder of taking sides in a war on the assumption it would be won without having an exit strategy in case it is lost. The Ukrainian war has been fought from Washington almost as if it were a video game rather a human tragedy.

If the war was about keeping Ukraine intact, giving Vladimir Putin a bloody nose and neutralising Russia, it has visibly been lost to everyone who is not cheerleading on behalf of a Nato government. All of these are increasingly desperate about the unmanageability of what they got into.

Sanctions against Russia have rebounded across the world, which is sliding towards a politically fraught economic recession in part because of the war’s unforeseen effects. Talk of regime change in Moscow and putting Putin on trial for war crimes, never really more than Bidenesque bluster, won’t be heard of again. ... Continue reading >>>

Boggart Abroad stablemate The Daily Stirrer notes that blogs and websites in the GDPublishing gang have warned from day one that even before Russia invaded, the government of Ukraine, (the neo - Nazi nutters in Kiev,) were pinning their hopes on drawing NATO into a full scale conflict with Russia and its allies. This was always a non starter so at this stage in the conflict the best Ukraine and its rent boy presiden Voloydyloddimyr Zelenskyyyyyyy can hope for is a negotiated settlement based on ceding territory currently occupied by the Russian military to Russian rule. 

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Ukrain war, Western sanctions
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The Inflation Monster That Our Leaders Have Created Is Voraciously Eating Away Our Standard Of Living

Authored by Michael Snyder via TheMostImportantNews.com,

The purchasing power of the dollar is not nearly as strong as it once was, and as a result our standard of living is rapidly going down.  The overall rate of inflation has been rising faster than our paychecks have been for quite a while, and this is causing a tremendous amount of pain for millions of U.S. consumers.  Unfortunately, this isn’t going to change any time soon.  The inflation monster that our leaders have created will continue to rage even as our economy plunges into a severe recession.  I relentlessly warned that the trillions of dollars that our leaders were pumping into the system would cause enormous problems down the road, and now we are trapped in an economic nightmare with no easy way out.

On Wednesday, we learned that the rate of inflation in the United States jumped even higher last month…

Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked the fastest pace for inflation going back to November 1981.

Of course the way that inflation is calculated today is much different from the way that it was calculated back in the 1980s.  If the way that inflation was calculated had not been changed, the official inflation rate would be much higher right now.

But even if you want to take the 9.1 percent figure at face value, it is still extremely high, and last month energy and food prices were two of the main reasons why we witnessed such a dramatic surge ... Continue reading >>>

 

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Macron's Minority Government Defeated on Vaccine Passport Reintroduction

Authored by Paul Joseph Watson via Summit News,

French President Emmanuel Macron suffered a humiliating setback in parliament after his flagship vaccine passport scheme was defeated in the French National Assembly where, inconveniently for little Emmanuel's authoritarian instincts, his government does not command a majority.

               

Macron’s government, which competed throughout the two and a half year COVID pandemic hoax with Boris Johnson's supposedly libertarian UK administration for the distinction of imposing the most repressive and fascistic infringements of citizens' personal liberty and human rights,  intended to extend the 'show me your papers, swinehund' policy  which require anyone entering France, going into any entertainment venue or restaurant or travelling on public transport to show proof of vaccination or a negative Covid test.

However, the right-wing populist National Rally (RN) led by Macron's arch enemy Marine Le Pen, the hard-left La France Insoumise (LFI) and the right-wing Republicains (LR) all united to vote against the policy.

Macron’s government lost the vote by a margin of 219 votes to 195.

“The bill’s defeat was met with wild cheering and a standing ovation from opposition lawmakers, in footage that was widely circulated on social media,” reports the Telegraph.

The bill was one of the first put to parliament by the new minority government, and shows that the new government will find it incredibly difficult to get new laws passed in the country.  Macron, whose presidency in his first term was incredibly unpopular in France and on several occasions triggered civil unrest due to Marcon's assaults on the French tradition of liberty, equality and fraternity, looks to be facing an even tougher ride this time.

Elisabeth Borne, the French Prime Minister, condemned the vote.

“The situation is serious. By joining together to vote against the measures to protect the French against Covid, LFI, LR and RN prevent any border control against the virus. After the disbelief on this vote, I will fight so that the spirit of responsibility wins in the Senate,” she tweeted.

As previously highlighted, the French Minister of Health has admitted that vaccine passports are a “disguised” form of mandatory vaccines, despite President Macron claiming vaccination “will not be compulsory.”

On the first day the new program was in place, police in Paris were visibly patrolling bars and cafes demanding customers show proof they’ve had the jab.

It later emerged that many businesses are refusing to enforce the scheme.

Stand by for more reports of riots and civil unrest in France.

 

 

 

 

Currency war can end global US dollar dominance & those who own gold have power

The world is facing a currency war and the only hedge against the crash of the US dollar is real gold, a precious metal analyst has said in an interview with RT. With geopolitical power shifting from West to East, US dominance may be ending. "But isn't this just one person's opinion?" you might well ask.

In this particular instance it is, but this page has spent enough time over the past few years reporting on the coming currency war, the move by China, Russia and a group of emerging economic powers including India and Brazil, to abandon the US$ as the reserve currency for international trades to convince even the most gung ho American patriots that something is going on that cannot have a good outcome for their country.

A significant sign that the USA is no longer regarded as the ultimate safe haven is the recent rush tp repatriate physical gold from the United States. In the past twleve months nations including Germany, Turkey, France, The Netherlands, South Korea and Japan have been taking their bullion home. The reason is the Cold War is over and despite the Russiagate scaremongering of neocons and the military - industrial complex, countries don’t see Russia as a threat anymore, says Claudio Grass, an independent precious metals advisor and Mises Ambassador.

The world has been living in crisis since 2008, while a currency war started even earlier, Grass said to RT. Central banks have been creating trillions of dollars out of thin air by issuing bonds, while central banks are coordinating the debasing of currencies, he said.

None of the money printing panic measures implemented since 2008 have made a significant difference, and with sovereign debt still growing it is obvious that the systemic problems still exist. The longer economies remain reliant on debt the greater the risks become and the more fragile the global economy is. More than 65 percent of all monetary reserves in the central banking system are held in the world currency reserve, i.e. in USDollar denominated treasury bonds. Therefore, holding physical gold is definitely the best hedge against a crash of any paper currency, and therefore also against a crash of the USD.

The global economy has become boged down in a “Monopoly-Game” system or a legalised Ponzi scheme that is based on debt and financial leverage.

China Launches Reserve Currency

The Russians Are Coming

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How Saddam may yet win the war

Europe Unglues

How Putin Can Win World War Three Without Firing A Shot

Petrodollar Alert: Putin Prepares To Announce ‘Holy Grail’ Gas Deal With China


Russia & China sign $10bn deal to ease ruble-yuan settlements



Why It Really All Comes Down To The Death Of The Petrodollar


China – UK dump the US dollar for bilateral trades

The Imperatives Behind The New cold War

The ‘new Cold War,’ against Russia, is something of a misnomer, because it differs from the original version, against the U.S.S.R., in that it’s already a hot war, which started in Ukraine as being the key proxy-state for the American Government’s chief foreign-policy aim, of defeating Russia.

The world is dumping the American dollar

Fears for the future of the US dollar

Iran, oil and the US dollar

Obama and Kerry warmongering is about saving the dollar

Collapse of the petrodollar imminent

Obama goes head to head with Russia over the Petrodollar

India and Turkey latest sign - ups to dump the dollar club

Russia, Ukraine and the Petrodollar