Iran Weaponises The Strait of Hormuz Against The Petrodollar

 
The Petrodollar system has propped up the US economy for 50 years - picture: sbcgold.com

In spite of the very fragile ceasefire in the conflict between the USA / Israel alliance and Iran, the theocratic regime of the Muslim nation has opened a new front in the war by weaponising the Strait of Hormuz against The Petrodollar. 

Having made this strait a de facto toll gate at the entrance to the Persian Gulf, the Iranians are demanding that commercial vessels pay hefty transit fees in yuan or Bitcoin, according to multiple reports form news organisations in the middle east. As well as signalling a further deepening of Chinese-Iranian economic cooperation it brings a new dimension to Ian's asymmetric warfare. A huge proportion of the world's hydrocarbons supply passes through the Strait of Hormuz and significant reductions in shipping movements will trigger a global crisis.

China, Russia and Iran along with their BRICS partners have been threatening currency wars with the aim of replacing or at least offering a serious rival to the US Dollar as the primary global reserve curency. 

For years, Russia and the two Asian allies have accused Washington of using the dollar's dominance in global trade as a weapon, imposing sanctions and inflicting economic pain on rivals through the dollar-dominated financial system.

Now the ongoing war aound The Gulf - and lets not fool ouselves that the current ceasefire will turn into lasting peace - is forcing a fundamental reassessment of the petrodollar system that has underpinned US financial hegemony for decades. This informal arrangement, in which Gulf oil producers price crude in dollars and reinvest revenues in US assets, emerged as a cornerstone of American economic power in the 1970s and has held since then. But with the US-Israeli campaign against Iran now in its second month, the strait’s uncertain fate is raising urgent questions about whether that order can survive. 

Iran has so far managed to withstand the US-Israeli attack and inflict some damage on Israel and US allies around The Gulf, even after significant casualties aming its leadership, and has been able to assert strategic control over the Strait of Hormuz. Thus they have added a currency war to the shooting war.

This means Iran has been able to insist it will only accept  payment for passage through the Strait of Hormuz in Chinese Yuan or crypto currencies, . At least two vessels have so far settled the transit fees in Yuan via a Chinese maritime services company which is acting as an intermediary and handling payment to the Iranian authorities.

This is a significant even though analysts debate if it can ultimately become decisive in the longer run. The de-dollarisation rhetoric has emanated from China, Russia, Iran and their BRICS partners for years, without materialising into meaningful change. Now, if one of the vital choke points through which one-fifth of the world's petroleum passes becomes conditional on currency denomination that is meaningful. 

The practical consequence, even if it was partially adopted, would be a bifurcated global oil market. One where yuan-denominated barrels flowing through Hormuz for payment in China's currency in the Chinese payment system CIPS ( Cross-Border Interbank Payment System) and dollar-denominated barrels are rerouted at a high additional cost and time for those who are not using Chinese currency. 

Further, Iran is employing a broader mechanism employing informal transactions in cryptocurrency to effectively circumvent the US financial system. Wang Yiwei, director of the Institute of International Affairs at Renmin University, said that the yuan-for-passage is more likely to gain international acceptance than a complete blockade. 

Of far more concern to banks and businesses in the west if oil shipments through the strait are to be transacted in currencies other than the dollar, particularly the Chinese yuan and the Iranian rial the  Gulf states, driven by security concerns, begin to distance themselves from the dollar-based energy trade, the ripple effects could be profound: reduced demand for the greenback, waning appetite for US Treasury debt, and a gradual erosion of the dollar’s reserve currency status. 

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NATO MemberTurkey Confirms Key Gas Pipeline Was Attacked By Ukies - Kremlin Accused United States

 

Moscow has this week made a big and provocative accusation, saying that the United States is seeking to sabotage the last pipeline transporting Russian gas exports into Europe, the TurkStream.

Russia's Foreign Minister Sergey Lavrov alleged in a Tuesday press briefing that Washington is encouraging "terrorist" attacks on Russia's energy infrastructure. He specifically cited plans to target TurkStream, following a recent large-scale drone attack.

"The US does not tolerate competition in any sphere, including energy. They are recklessly endorsing terrorist activities aimed at undermining the energy stability of the European Union," Lavrov said as quoted in Turkey's Anadolu news agency.

Via Hurriyet Daily

Demented Joe Biden believes in his befuddled way that he will leave office with the USA in better shape than when he took over. In fact Dopey Joe is going out having made his country the world's biggest hate monger, universally loathed and mistrusted and also regarded as a nation totally motivated  by greed and the lust for power. 

It is hard to say how or even if Trump can change things. Will he return the US to the staus of leading global superpower or only cover the rotting remains of what was a respected nation with a nice new coat of paint?

The imbecile neocons who have been in power for the past four years, having claimed victory in a highly suspect election were, for the past three yeas and now are simply expressing their hatred of Russia through what may be a last ditch effort to start WW3. Any excuses to the contrary are lies. 

To prompt their proxy in the desired war with Russia, the asinine Ukies to lauch a military attack on the sovereign territory of Turkey,  a member of NATO, is beyond stupid. Are the non - demented members of the Biden White House team so off their faces on cocaine and hash they though having their lapdogs strike a gas pipeline inside Turkey would perhaps provoke a Russian response against a NATO ally?

In fact, had the attack suceeded, it would have only hurt America's allies, the NATO members in Europe that still depend on Russian gas. But unlike the Nordstream pipelne sabotage, which caused immense economic harm to some west European nations, including Germany, the Turkstream pipeline attack failed, a squadron of Ukrainian drones were shot down by Turkey's Russian made air defence systems.

The Current EU leadership could not be more defective if they were intentionally hand picked - and it's possible they were. There's no reason to keep pummeling the EU except for fun or because it's the proper thing for a government brain dead drone to do. The EU is perfectly capable of keeping itself down while feeling smug about it. Even now, with Ukraine in ruins and a generation of young men wasted, they are trying to prolong the war and block a Trump led bid to end the slaughter.

Then there's the obvious hope that something the criminals in Kiev do will hamstring Trump forcing him to keep Endless War Alive.

There's national security and there's being a War Criminal. US Democrats are War Criminals and the only way to fix the problem is to send many to jail for the rest of their lives. Not doing this will only make the next iteration of the imbecile World Domination Club even worse and much better planned and executed.

The US can not keep the US Dollar as the world reserve currency for many more years if it does not get spending and the growing national debt under control. The Federal Reserve can do nothing except trying to buy down long term rates using monetized debt. And that is only temporary. Eventually they will stop on their own or because nobody except the Fed will buy US debt anymore. When that happens, long term US$ bond yields rates will rise and rise and rise, passing even Greek levels. Since the US debt is so huge $36trillion dollars, Washington now needs to borrow to pay interest on US debt, eventually nobody will buy UST debt since it means they are using hard earned national savings simply to cover the interest they are being paid.

Only an idiot would think the world will have a secret meeting where they decide to boycott US debt. Rather, long term rates will rise and rise. The share of the deficit that covers interest expense currently about 12% will rise to over 50%. People will independently decide that US debt is a joke of an investment and will put their savings somewhere else. Then things will snowball.

So, if the world doesn't lose respect for the US because it's the world's biggest hate monger, it will eventually stop buying its debt because the ponzi has become too obvious to ignore any longer and there's no hope of it ever turning around. Or both. And with Trump's inauguartion only a few days away, the warmongers have run out of time. World War Three canot save them now, the dream of global hefemony is fading fast and no amount of provocations by the puppet regime chan change that.

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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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The Shooting Wars and the Currency Wars

 

As the shooting wars grind on in Ukrsine, Gaza, Syria, The Red Sea, Sudan and e;sewhere, the main theatre of war is now shifting from the battlefields to the financial centres of the world.

Many of you will have been reading in mainstream media about de-dollarization recently, and may have been surprised to learn of the various attempts and strategies being deploted to facilitate trade among the various countries' currencies without using the US dollar, which has been the main reserve currency for intrnational trade since World War Two. You may be even more surprised to learn that Boggart Blog and its various offshoots have been writing about de-dollarisation and currency wars for over ten years. Most international trade is still conducted in dollars, which means the buyer has to purchase dollars in order to make the settle the transaction, and that often means the sale is settled at a U.S.-controlled bank ... a situation which many nations feel Washington has exploited unfairly to preserve its global economic hegemony.

The established world order has come to the dangerous state it is curreently in, because the U.S. exerts uses its position of economic dominance via he dollar to exert political influence. To put it bluntly the U.S.A. has "weaponised" finance. Avoiding the U.S.ninvolvement in cross border transactions is complex and there's a lot of resistance to change particularly from US banks.

There are a number of new, rapidly developing tools and organizations to do this job, and more importantly there are new players with major resources and even bigger motivations that have committed themselves to make non-dollar-denominated trade easy, reliable and fast. And soon. For example, next time Israel attacks Hezbollah Lebanon, Iran could weaoponise the Strait of Hormuz to trigger a global economic and energy crisis.

Russia and China, two of the nations, along with Iran, that started the move to de dollarise world trade over a decade ago are leading, their BRICs trading bloc is likely to be the first major beneficiary of the new trading tools, and now Saudi Arabia has weighed in: SA has let the "price all oil sales in dollars" deal with the U.S. lapse.

This has now been reported in the U.S. and European mainstream media press , with all the appropriate consternation over likely impacts.

M.K Bhadrakumar (IndiaPunchline.com) has a new article out that covers the waterfront - the technologies, the big players, the Saudis, and the impact on the U.S. of de-dollarization. If you're new to the subject, this is a decent place to start.

As many critics have pointed out, everyone knows _why_ other countries are motivated to de-dollarize. The question is "what's the alternative?".

Alternatives get built when the motivation, resources, and capability thresholds are met. They've been met.

If the Saudis actually do start pricing in currencies other than dollars (remember, letting the deal lapse, and actually pricing their oil in different currencies are two separate events), and if China and Russia really do build the multi-currency trading system for BRICS, and remember they have already started the process by creating the 'petroyuan' to rival the global standard 'ptrodollar vehicle for ttrading oil futuresd, this is certin to bring to an end the "exorbitant privilege" of the U.S. as issuer or the global reserve currency.

And that will be a major, major change in the U.S.' situation.

For further reading, search "mBridge" and "BRICs". That'll provide much food for thought.

 

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The leaked U.S. intelligence documents recently published in western mainstream media have exposed the extent to which pro - war propaganda suggesting Ukraine was winning the war is now seen to be a US & NATO led effort to weaken Russia and effect regime change. It looks more likely some western governments are facing regime change as citizens, tired of sky - high energy costs, soaring food prices, and of being lied ...

Russia Will Never Recover From War In Ukraine Claim Zelensky Fan Club As Russia Continues to Crush Ukrainian War Effort
An inside page headline in yesterday's (1 April 2023) Daily Telegraph claims 'Russia will never recover from this devastating collapse,' though the article below it does not quite make clear exactly what collapse the writer is talking about. The Telegraph has been unashamedly pro Ukraine, Zelensky worshipping and Russophobic in its coverage since day one of the war and the article was not an April Fool joke

Zelensky Admits Ukraine Already Ran Out Of Ammo
The US-led West’s Mainstream Media (MSM) began reporting more accurately on the military-strategic dynamics of the NATO-Russian proxy war in Ukraine since the start of the year, but the true test of their comparatively improved integrity will be whether they raise awareness about Zelensky’s latest damning admission. In an interview with Japanese newspaper Yomiuri Shimbun, he candidly told his interlocutors that “We do not have ammunition. For us the situation in the East is not good.”

Dollar Dominance Will Be The Biggest Casualty Of War In Ukraine
While the mainstream news cycle focuses on Ukraine and speculation about when the strategically significant city of Bakhmut, beseiged by the Russian army for months now, will actually fall, with Ukrainian defenders vowing to fight to the last man but gradually being forced into a smaller and smaller area of the city centre, in the more significant economic war Russia, China and Iran, backed by India, Saudi Arabia and many other African and South East Asian nations are pushing ahead with moved to dump the US dollar as the global reserve currency

Ukraine: Who Is Winning And Losing In The Economic War
One year ago today, to provide a legal framework for Russian military support to Donetsk and Luhansk which would take the form of a military incursion into Ukrainian territory on February 24, the Russian President Vladimir Putin had signed executive orders to recognize the Donetsk People's Republic and the Lunhansk People's Republic as independent countries

Talk of Sending Fighter Planes to Ukraine Is Madness
President Zelensky’s warmongering speech to the UK Parliament yesterday unequivocally and unashamedly made the case for starting World War 3 in order to polish the oversized ego of this little clown with the piano playing penis when he demanded that Nato-grade fighter jets to be sent to Ukraine.

Ukraine End Game: As Bakhmut Falls Real Reporting Vies With Propaganda In Western Media
Ever since Russia crossed the Ukrainian border and launched its 'Special Military Operation' almost a year ago now, everyday in western news media we have watched, heard and read that Ukraine was winning the war - Russia was losing ten soldiers for every Ukrainian casualty, Russian troops were incompetent brutes, Russian military hardware did not work and the Russians were running out of missiles, bullets and everything else.

Status Report On That War Thing In Ukraine: Nordstream to Bakhmut, electricity and water - December 2022

In the wake of attacks on the on the Stream pipelines, that effectively halted the flow of natural gas which German industry, commerce, agriculture and society relies on, and the terrorist attack on the Kerch Bridge, US Secretary of State Antony Blinken gloated that the attacks were a “tremendous opportunity” to weaken Moscow [...] And shortly after news of the Nord Stream sabotage broke on mainstream media, gas supply companies in the USA were offering to supply Europe with shipments of Liquid Natural Gas carried by supertanker to be sold to European nations at vastly inflated prices.

Who Blew Up The Nordstream Pipeline
So whodunnit? Sabotage of undersea gas pipe will escalate tension and move the world closer to nuclear war, but who is behind it, Russia in a bid to put more presure on Europe, Ukraine in an attempt to drag NATO into direct action, or the USA using a CIA false flag event to advance its own agenda.

Russia Ukraine Dirty Bomb Claim - Some Reality
As the situation in Ukraine gets more desperate with casualty numberrs mounting, half the national infrastructure in ruins and Russia upping its game in response to US / NATO military assistance privided to the neo nazi nutters in Kiev, a false flag event seems the only way to provide an excuse for direct US intervention. And the USA has a track record for fgalse flag events ...

Who Blew Up The Nordstream Pipeline
So whodunnit? Sabotage of undersea gas pipe will escalate tension and move the world closer to nuclear war, but who is behind it, Russia in a bid to put more presure on Europe, Ukraine in an attempt to drag NATO into direct action, or the USA using a CIA false flag event to advance its own agenda.

An Energy Crisis In Tandem With A Food Crisis On Top Of An Economic Crisis And A War. This Cannot End Well
As politicians in North America and Europe try to deflect from their own failure that have contributed to the current plethora of crises by blaming Russia and Vladmir Putin for all the current problems, while the war in Ukraine is a contributory factor in each, the real blame lies closer to home.

Swedish Media Outlet Publishes Leaked U.S. Document On How to CRUSH Europe Economy via Ukraine War Effort
Swedish news organisation Nya Dagbladet has published a leaked top secret US plans to use the war in Ukraine and an induced energy crisis to destroy European economies. The report claims the RAND Corporation a defence and foreign policy think tank founded by military aircraft maker Douglas has the official aim of improving policies and decision-making, is the source of its evidence.

Has Putin Has Pushed Europe Into Economic Depression, Hyperrinflation and Currency Collapse?
Though it was entirely predictable and indeed had been expected for some time, the news over the weekend that the Nord Stream 1 pipeline which feeds gas from Russia to northern Europe via The Baltic route had been shut down completely by The Kremlin in retaliation for the continued financial and military support given by NATO and EU member states to Ukraine in the conflict with Russia. The European Commission, governing body of the EU, immediately put the community on something close to a war footing, ...
Continue reading >>>

Is Russia Selling Its Oil To The World Through An Obscure Egyptian Port?
As this blog predicted when NATO and EU member states shot themselves in the foot by reacting to Russia's invasion of Ukraine with sanctions that prevented Russia from selling oil, gas and vital raw materials to the countries that needed them most, the NATO and EU member states, the Russians have had no problems finding alternative customers for their gas and oil and no problem getting oil into the world's commodity markets through the back door.

Jingoistic Western Triumphalism Will Not End The War In Ukraine Or Cripple Putin, But It Is Crippling Western Nations

As the war in Ukraine grinds on and Russia steps up its economic war against the west and in particular The European Union, claims made recently by the idiotically 'woke' leaders of Europe's main economic and military powers that the West has a once-in-a–generation chance to severely weaken Russia’s capabilities, both militarily and geopolitically, look increasingly hollow. Putin's critics have cited 'Western unity' as one of the main reasons why Russia will be economically destroyed and politically humiliated when the Ukraine's military finally claim victory.

World War 3? Don't Blame Us, We Did Try To Warn You.

 

Russia. Is. At. War.

In an avalanche of words, western support for Ukraine has escalated (rhetorically at least,) this week, with some European leaders, notably the increasingly ridiculous wannabe Napoleon, French President Emmanuel Macron who has twice called for NATO ground forces to be deployed against the Russian military in Ukraine. With the idiot Biden also talking about sending long range weapons to the trigger - happy Ukie cowboys so that they can strike cities and strategic targets deep inside Russia, the gloves are off and President Putin has told Russians they are in a full fledged war. This is not going to be a good result for Ukraine, as today's reports of missile strikes on Kiev and a targeted attack on Ukraine's electricity infrastructure confirm

Last week's 'election' in Russia saw a record turnout. As predicted by everybody Putin won by a very large margin. However the fact that there were no major protests against the lack of credible opposition candidates does expose the lie of western propagandists that Russians are sickened by the war and the nation ids on the brink of revolution. Putinism is a geopolitical reality, as was confirmed when The Kremlin admitted for the first time that Russia is at war.

NATO expansion into the Baltic States and eastern Europe was always about the perpetuation of US hegemony but for a decade now, the de-dollarisation campaign led by China, Russia and Iran has been about the burial of the western financial system based on the status of the US$ as the leading reserve currency that underpins that US geopolitical hegemony. Putin is playing a pivotal role in that historical process and if he remains in power till 2030 and fulfills even one half of the ambitious blueprint of social and economic programme for Russia that he outlined in his landmark speech at the Federal Assembly of the parliament, the global strategic balance will have shifted irrevocably and cemented a multipolar world order as the foundation of 21st century politics.

 The West knows it, the Russian people know it, the vast majority of nations realise it. That said, it must be understood as well that this is not only Putin’s victory personally but also a consolidation of Russian society around him. The consequences of such moves are inevitable of course, but we have been trying for ten years to sound the alarm about the direction globalists were leading us in.

UKRAINE WAR LIBRARY:

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‘We’re Not At War With Russia,’ Germany's Chancellor Scholz tells Warmongering French Ouanqeur Macron
Though Macron's recent posturing as a reincarnated Napoleon by calling on his fellow European leaders to send troops to fight alongside the Ukrainian military may have been nothing more than an ill - advised attempt to deflect attention from online conspiracy theories that his wife Brigitte is, or was at some time in the past, a man, the ploy, if that is what it was, has backfired.

Moscow Claims U S Defense Secretary's ‘Freudian slip’ Exposes Washington's intention To Go To War With Russia
Testifying to the US Congress House Armed Services Defense Secretary Lloyd Austin is alleged to have revealed evidence that Washington has plans for direct military involvement with Russia. [ ... ] Russian Foreign Minister Sergey Lavrov made this allegation on Friday having seen a transcript of Austin's address to the Committee hearing on Thursday. Austin reportedly said that “if Ukraine falls, I genuinely believe NATO will be fighting Russia.

And The War In Ukraine Grinds On
Due to the absence in this blog of reporting on the war in Ukraine readers may have come to the conclusion that we Boggart Bloggers no longer considered it important. That is not quite true, though we are still aware of the importance of Ukraine to the future of the liberal democracies in western Europe, we are only three old guys (with occasional contributions from friends in the alt_news community,) and have simply been overwhelmed by events closer to home.

Total Defeat Of Ukraine By Russia Is Only A Matter Of Time
Financial Times columnist and founder member of the Vobblyvoddymyr Zelensky piano playing penis fan club, Gideon Rachman has a talent for stating the obvious which he displays in a recent article on the state of play in the Ukrainian conflict 'Ukraine and its backers need a credible path to victory - archived. As the Financial Times is behind a paywall with no monthly allocation of free articles, below is a sommary of the most importyant section:

Is The West About To Abandon Ukraine?
n a fresh interview with Germany's national television service ARD on Saturday (2 December,) NATO Secretary General Jens Stoltenberg warned viewers to prepare for for more "bad news" from Ukraine. Asked for his opinion on whether the situation will worsen for Ukrainian as winter sets in, after the much hyped summer counteroffensive turned into a catastrophic failure he responded, "Wars develop in phases.

The War In Ukraine Is Entering A Significant Phase - SitRep
With all the other troubles in the world its easy to overlook the news from Ukraine which suggests that conflict is entering a a crucial phase as the western allies find it inceasingly difficult to keep up with Kiev's demands for cash, weapons and ammo. Big Serge has a rather long situation report on Substack and it will not make happy reading for the Zelensky fan club in the west:

Game Over For Zelensky - NATO andEU Officials Urge Ukraine To Seek Peace
As this blog predicted early last month, following the catastrophic failure of Ukraine's 'counter offensive' to push Russian troops out of their country, American and European leaders who have previously been solidly behind the doomed Ukrainian war with its powerful neighbour, are rapidly going cool on their pledges of unlimited support for puppet - president Zelensky and his far - right masters.

Ukraine's Military Commander Admits Counter - offensive Has Failed And The Battlefield Position Is Stalemate
Since Russian troops crossed the border into Ukraine, back in February 2022, those of us who questioed the Russia bad, Ukraine goood narrative have been targeted by torrents of abuse hurled by pseudo - patriots and armchair soldiers, and called a 'Kremlin stooges', Russian agents', 'Putin supporters', and enemies of freedom. When anybody suggested that Russia's aim was not to conquer the whole of Ukraine and from there wage war on the rest on continental Europe ...

Ukraine Too Corrupt To Join The EU Says Former EU Leader Juncker
Former EU Commission President and world class oenophile Jean-Claude Juncker, stated this week in unusually blunt terms that are perhaps a sign of the times, that Ukraine is not ready to join the EU due to its being "corrupt at all levels of society," the former European Commission president, said in unusually blunt language during an interview with Germany’s Augsburger Allgemeine newspaper this week.

If You're Afraid Of Nuclear War You're Not Supporting Ukraine Enough Is Zelensky's Latest Message
The follow up to Elon Musk's refusal to open his Starlink satellite network for the benefit of Ukrainian military leaders as they fantasise about attacking Crimea and driving out the Russian occupying force this past week showcases how completely unhinged and dangerous the Ukrainian government's desire to escalate the war has become.

There Is Only One Way Ukraine Can End The War
As Ukraine's much hyped counterattack has failed to achieved the and momentum that hoped for by American and NATO leaders including President Volodymyr Zelensky who admitted it was "slower than desired", and a range of soldiers interviewed by BBC and Sky News television reporters t on different parts of the long (probably too long given the depletion of Ukrainian military manpower,) frontline have blamed minefields laid by Russian troops for that delay. Well as is often said, in any wartruth is the first casualty.

Who Blew Up The Nordstream Pipeline
So whodunnit? Sabotage of undersea gas pipe will escalate tension and move the world closer to nuclear war, but who is behind it, Russia in a bid to put more presure on Europe, Ukraine in an attempt to drag NATO into direct action, or the USA using a CIA false flag event to advance its own agenda.

Has Putin Has Pushed Europe Into Economic Depression, Hyperrinflation and Currency Collapse?
Though it was entirely predictable and indeed had been expected for some time, the news over the weekend that the Nord Stream 1 pipeline which feeds gas from Russia to northern Europe via The Baltic route had been shut down completely by The Kremlin in retaliation for the continued financial and military support given by NATO and EU member states to Ukraine in the conflict with Russia. The European Commission, governing body of the EU, immediately put the community on something close to a war footing, ...
Continue reading >>>

Do We Have A Winter Of Civil Disobedience Ahead?
As many people in Britain slap on the apres sun gloop in the wake of what passes for a heatwave in these cool cloudy climes, our inept politicians caught with their pants down by unusual weather as usual have heard that that winter is coming and are making plans for a coldwave. We are in the grip of an energy crisis at the height of summer. Last week, it was reported that the UK government is laying down plans for a “reasonable worst-case scenario” including blackouts for industry and even households. And this is as energy prices spiral out of control to new records every day.

Is Russia Selling Its Oil To The World Through An Obscure Egyptian Port?
As this blog predicted when NATO and EU member states shot themselves in the foot by reacting to Russia's invasion of Ukraine with sanctions that prevented Russia from selling oil, gas and vital raw materials to the countries that needed them most, the NATO and EU member states, the Russians have had no problems finding alternative customers for their gas and oil and no problem getting oil into the world's commodity markets through the back door.

Are US Supplied Long Range Missiles Really Winning The War For Ukraine?
Since very soon after the start of the war between Russia and Ukraine western powers, USA, UK, EU and NATO have been doing everything possible to prolong and escalate the war. The latest move is to provide the Ukrainian military with long range HIMARS missile. Mainstream media are claiming this has tilted the balance in Ukraine's favour. But for what? To prolong the slaughter? ...

Jingoistic Western Triumphalism Will Not End The War In Ukraine Or Cripple Putin, But It Is Crippling Western Nations

As the war in Ukraine grinds on and Russia steps up its economic war against the west and in particular The European Union, claims made recently by the idiotically 'woke' leaders of Europe's main economic and military powers that the West has a once-in-a–generation chance to severely weaken Russia’s capabilities, both militarily and geopolitically, look increasingly hollow. Putin's critics have cited 'Western unity' as one of the main reasons why Russia will be economically destroyed and politically humiliated when the Ukraine's military finally claim victory.

European Union Is Again Close To A Meltdown As Eurozone Economy Collapses
Once more we return to the political instability and economic fragility of the European Union as the conflict in Ukraine combined with loonytoons Climate Change mitigation policies, the failure of 'sustainables' to meet ever increasing demand for electricity, fod shortages and rampant price inflation put economic and social pressure on governments of member states ...

Russian Long Range Missile Test Fuels Nuclear War Fears As NATO Pushed Ukraine To Escalate Conflict
Russia tested its latest intercontinental ballistic missile yeserday, the Satan II has a range of 10,000 miles and can devastate an area of 250,000 square kilometers according to military experts. Bizarrely commentators in mainsteam and online news services portrayed this as a sign of weakness by Russia, though the same people cheered when Joe (Dementiaman) Biden threratened a nuclear response if Russia crossed his 'red lines' in Ukraine ...

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.

Boris and Biden Can't Blame Ukraine War For Energy Crisis
With typical arrogance and condescension towards the people who elected them Boris Johnson, Joe Biden and their respectiive presstitutes are trying to spin the energy crisis Europe and North America are currently facing as somehow being linked to the conflict in Ukraine and therfore blame is being attactched to Russia and Vladimir Putin. Do they really think we are stupid enough to believe such unmitigated bollocks? ...

Even If The War In Ukraine Ends, Sanctions Will Stay - So How Bad Will The Food Crisis Get?
Western leaders, desperate to show their own countries they were taking a firm stance on Russia's invasion of Ukraine, were quick to impose economic sanctions ... so quick in fact that they acted before they had though things through. While freezing Russia out of the global finance system they have exacerbated the wests energy crisis, while Russia's retaliatory ban on raw materials (fertiliser) exports will create extra problems on top of those we already had ...

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 ...

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The Never-Ending War On Cash

 

In the last few decades the global elites have been pushing, particularly in the developed nations, to shift financial activity from cash and paper cheques towards a “cashless world,” a trend that continues to be promoted by government, financial institutions, big business and the media. Physical currency is under constant attack and the majority of the world’s money supply exists in intangible electronic form. Governments and financial institutions are actively promoting a cashless society, raising concerns about individual financial freedom and our ability to protect our saving and assets from seizure by spendthrift governments and predatory bankers.

The US Federal Reserve’s latest update on physical currency use reported about 2.2 trillion dollars in physical cash supply. This includes physical coins (dimes, quarters, dollars) and green Federal Reserve notes. Nevertheless, there has been a rapid shift towards electronic funds. In the current era, the total global money supply is predominantly composed of electronic funds, with physical currency representing a diminishing percentage.

A similar trend could be observed in UK and mainland Europe until 2022 when cash staged a modest recovery over 2021, with the number and volume of cash transactions increased slightly. With the recovery of cash expected to continue for 2023, suggested reasons for this reveral include citizens concern about their privacy in an increasingly digital world, and people finding it easier to plan and control expenditure when using cash.

The concept of creating Central Bank Digital Currencies (CBDC) to replace physical cash over the past year is now being discussed openly. IMF Director Kistalina Georgieva commented in a speech last year that CBDCs have already been introduced in The Bahamas, Jamaica, and Nigeria, with over 100 additional countries (including the European Union, the United States and the UK) currently in the planning and design phase of creating their digital currencies.

This relentless progress towards a cashless society is often justified on grounds of enhanced security, with politicians and executives of NGOs like the International Monetary Fund (IMF), various United Nations agencies, the Organisation for Economic Cooperation & Development (OECD) and World Economic Forum (WEF) all support claims that electronic transactions deter terrorism, money laundering, and counterfeiting though this is clearly bollocks as there is no computer systemIt is much easier to perpetrate cybercrime than real world crime, and cycber crime is more difficult to detect.

So what is the push to go cashless really about? Under close scrutiny it becomes apparent that the primary objective is an attempt to gain control of all financial assets and bring citizens savings and pension funds within the control of national governments and banking systems. Reduced reliance on physical cash facilitates increased surveillance of financial transactions, centralised planning of economic activity and greater use of coercive methods to fore citizens to comply with unpopular and undemocratic policies..

It is worth noting that in both Europe and North America face value of the highest denomination banknotes produced by the Central Bank is diminishing. In the US the highest note is the $100 bill, in the EU the €500 note is no longer issued and in the UK though the £50 note is still the highest value it has remained so for over 100b years despite the rampant inflation of recent decades.  Another sign of the bid to remove cash from circulation is the imposition of strict limits on the amounts one may deposit withdraw in cash from a bank account in a single transaction or per day.

Governments aim to benefit from a cashless system as it allows for more draconian enforcement of unfair taxation and the extension of central planning, while banks see opportunities to increase fees and impose naegative Interest Rates.

A cashless society results in larger bank deposits, contributing to an expansion of the money supply through fractional reserve banking but the move towards a cashless world raises concerns about individual control over our personal wealth.Remember, at the annual World Economic Forum for billionaire psdychopaths at Davos a couple of years back, that organisation's president, Bond villain lookalike Klaus Schwab promised us, "In the future you will own nothing and you will be happy."

THE GREAT RESET LIBRARY

Is Switzerland About To Become First Country To Outlaw A Cashless Society?
As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Beware the dangers of a cashless society
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.

War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive." We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...

Norway's Biggest Bank Joins Push To Abolish Cash
The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.

New Global Crisis Imminent, 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 ...

Washington Signals Fears Over Dollar
Globalist Bankers Make Plans To Rob Your Bank Account
Slaves To The Machine
Holy City (slam poem)
Living Within The Conspiracy
New World Order

E U Central Bank Digital Currency Is The Death Rattle Of A Failed Experiment

The announcement from the European Central Bank (ECB) that is is to intrduce an official European Union digital currency spells the end of the European Single Currency experiment and with it the ambition of "ever closer union until the EU's member states were merged into a single political entity Digital Currencies might not quite be Ponzi schemes but on appearances the difference can be compared to that between a horse and a pony.

Negative Interest Rates - Final Nail In The Coffin Of Neoliberalism? Negative interest rates, in plain terms a situation in which we pay bankers for holding our money, are the latest ruse of politicians and economists to make uis start spending our investments and savings, thus kickstarting the global economy thy have screwed up.

The age of financial privacy is over
Yes you read that right. The fascist regime in the USA has usurped to itself the right to raid bank accoutns anywhere is the world. At the moment they are only stealing money by way of tax demands from people who were born on US soil even if those people have not lived in the USA since childhood and have never be employed by a US business.

Inland Revenue a Dysfunctional department that ‘can’t be trusted’ with power to raid bank accounts
Plans to let the taxman take cash out of people’s bank accounts without their permission were condemned by MPs after Rebecca Benneyworth, of the Institute of Chartered Accountants, warned the department is ‘shooting itself in the foot.’ She told the ICAEW conference : ‘Public trust in HMRC would be eroded very quickly if cases come to light where funds have been incorrectly removed. ‘HMRC cannot afford to have public opinion turn against the tax system and those charged with administering it.’Accountants have warned HMRC cannot be trusted ...

Transhumanism: The Elite Total Control Agenda
Robot lovers, indestrictible soldiers with no mercy or compassion, everlasting life for beings that are part human, part machine, genetically modified humans with supernatural strength and endurance competing in future 'hungrer Games' style Olympic tournaments: the plot of some dystopian novel? No, actual items in the elite's agenda for total control

French Police Use Teargas As Freedom Convoy Brings Thousands Of Protestors To Paris
Inspired by Canada's freedom Convoy, a sponaneous protest by drivers of heavy trucks against the fasistic and oppressive curtailment of individual freedoms by Prime Minister Trudeau's regime, French truck drivers protesting President Macron's similarly authoritarian measures converged on Paris where they were met by riot police enforcing Macron's ban on protests against government policy ...

SStarmer Outs Himself As More Fascist Than Boris Bonkers or Dementia Joe Biden
The leader of the UK’s official opposition party, Labour, Sir Kier SStarmer after a year of starring in a remake of The Invisible Man has finally decided to let us see who he is. Responding to remarks made by Home Secretary Priti Patel, SStarmer said education authorities should be allowed to use exclusion orders to stop anti-vaccine activists from protesting outside schools ... Continue reading >>>

Goodbye Freedom, Hello Global Governance.
If at any time during the chaos the past eighteen months you have wondered what kind of idiots are running the world and have gleefully trashed economies, disrupted social and commercial life and stripped citizens of their rights and liberties only to bring us, in late October 2021, right back to where we were in late February 2020 when the words pandemic and COVID crept into our consciousness ...Continue reading >>>

Big Tech tyranny is the biggest threat to democracy in our era
This weeks main story, pushing Coronavirus aside at last, has been the attempt by Twitter to censor U.S. President, classifying his somewhat rabid tweets as misinformation. Whether you love or hate Trump or any other occupant of The White House, their utterings can never be dismissed as ‘misinformation’ because they represent what one of the most powerful people in the world is thinking.

University free speech society told free speech a 'red risk', external speakers must be vetted

Sheffield University’s recently formed Free Speech Society has been warned that free speech is a “red risk” and all external speakers at events it organises will have to be vetted by the University Thought Police squad and the topics they intend to talk about shown to be in line with ideas and opinions the titty - sucking babies who run the Student Union are not frightened by.

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