This will signal to countries to quickly dump all assets in USA and Europe, and put their reserves in currencies other than US$ and Euros, into countries where the terrorists cannot reach with their dirty hands.
China and BRICS's countries should be a good possibility for keeping their reserves. So far, China has not been known to have seized assets of other countries, but has been giving out help to poor countries for development, unlike the USA doing the reverse and seizing the assets of countries and forcing hunger and famine in poorer countries. They did that to Venezuela, Iran, Afghanistan and lately Russia. Now they are extending it to their own kind. An eye opening move for the rest of the world. The terrorist are amending laws to seize assets across the world. This had been a warning already trotted out by those who know.
What they know they cannot achieve by normal means, they just amend the laws to make it mandatory. Just look at the bill to ban the rail strike in the USA being trotted out by Biden. Had China done the same with the COVID protest, they will definitely brand it as draconian. Isn't using the law to prevent strikers excercising their rights to strike not draconian? USA truckers must not give in.
That was also the same tactic that Justin Trudeau used, under coercion by the USA, against striking truckers in Canada. Trudeau used 'emergency law' to trample upon the truck strikers, citing violence, when no violent protest by the strikers had been seen. No wonder they are now branding Trudeau a 'fascist' and a de factor dictator. The same facist ideology now being adopted by the ruling elites in the EU.
Interestingly, OPEC+ is already warning that more oil production cuts will come into being after learning about the US$60 cap on seabourne oil from Russia. In any case, Russia already said that no oil sales will be made to those who support the cap. Who else will support the cap besides the doggies? And the doggies in the EU will fight among themselves over the consequence of oil productin cuts by OPEC+ and sink the EU.
China and India or even Saudi Arabia will definitely not support the cap, as they really are enjoying 'laughing all the way to the bank' after selling Russian oil to the EU and ripping them off. It is a win win situation for them and Russia, and no crime committed as they are just following the USA.
Honestly, does the USA and the West think that Russia would have waited until now to accumlate it's resources to fund the war, after tolerating eight long years to do it? Putin is a chess player and thinks many steps ahead, unlike the EU leaders that have no plan at all and just acting beyond what they see in front of their noses. Just look at their behavior, all at sixes and sevens, caused just by Russia using reverse sanctioning them in energy. The cap will fail, in the face of more oil cuts in the pipeline by OPEC+.- Anonymous
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Meanwhile the USD could possibly go to zero..
'Debt explosion leading to the currency becoming worthless has happened in history for as long as there has been some form of money whether we talk about 3rd century Rome, 18th century France or 20th century Weimar Republic and many many more.
So here we are again, another monetary era and another guaranteed collapse as von Mises said:
“There is no means of avoiding the final collapse
of a boom brought about by credit expansion”
This disastrous borrowed prosperity, with ZERO ability to repay the surging debt, will lead to one of the three consequences below:
1. THE US$ GOES TO ZERO
2. A US DEFAULT
3. BOTH OF THE ABOVE
The most likely outcome is number 3 in my view. The dollar will go to ZERO and the US will default. The same will happen to most countries.
Many people say that the US can never default. That is of course absolute nonsense.
If a country prints worthless debt that nobody will buy in a currency that no one wants to hold, the country has definitely defaulted whatever spin they put on it.
In the next few years, not just US but all sovereign debt will only have one buyer which is the country that issues the debt. And every time a sovereign state buys its own debt, it has to issue more worthless debt that nobody will touch with a barge pole.
Printing more money to pay for previous sins has never worked and never will.
And this is how money dies, just like it has throughout history.
How can any sane person believe that with debt going up 4.5X faster than tax revenue that the debt can ever be repaid.
Even worse, with US interest payments on the debt surging from around 0% to probably 5% by 2025 the interest on the debt will climb to $2 trillion or circa 30% of the annual budget.
So with higher interest rates, higher deficits and rising inflation the scene is set for a high or hyper-inflationary period in the next few years.
So virtually every observer believes that the Fed (and ECB) will not just stop raising interest rates but pivot and lower them again.
In my view this will not happen except for possibly very short term. The 40 year interest rate downtrend finished in 2020 and the world is unlikely to see low or negative rates for many years or decades. High inflation and high rates will continue for years. But as we see in the 40 year chart of the 10 year US treasury below, there will be many corrections in the coming uptrend.
Central banks are always wrong and always behind the curve. They kept short term rates at zero or negative for over a decade. From 2009 to 2019 the balance sheets of major central banks increased by $13t. But then from Aug 2019 to 2022 an explosion in central bank debt took place, expanding their balance sheets $23t from $13t to $36t.
As with all Ponzi schemes, the current financial system will collapse too as the holders of the fake paper money realise that the money is worthless and that the emperor is totally naked.
That will be the final phase of the current monetary system with unlimited money printing as the $2.3 quadrillion debt pyramid collapses
Link to article:
https://www.zerohedge.com/markets/von-greyerz-end-dollar-goes-zero-us-defaults
U.S. Reveals Intention To Contain China By Sheer Military Superiority
The U.S. will need military strength to ensure that American values, not Beijing’s, set global norms in the 21st century, Defense Secretary Lloyd Austin said Saturday.
Austin’s speech at the Reagan National Defense Forum capped a week in which the Pentagon was squarely focused on China’s rise and what that might mean for America’s position in the world.
On Friday in a dramatic nighttime rollout, Austin was on hand as the public got its first glimpse of the military’s newest, highly classified nuclear stealth bomber, the B-21 Raider, which is being designed to best the quickly growing cyber, space and nuclear capabilities of Beijing.
China “is the only country with both the will and, increasingly, the power to reshape its region and the international order to suit its authoritarian preferences,” Austin said Saturday. “So let me be clear: We will not let that happen.”
To meet that rise, “we’re aligning our budget as never before to the China challenge,” Austin said. “In our imperfect world, deterrence does come through strength.”
Is Lloyd Austin an ignorant juvenile, when he does not even know what the USA did in Vietnam and Iraq and what NATO did in Yugoslavia? Was Austin born after what the USA and Nato did in those three countries, and therefore just a clueless juvenile who is unaware of the cruelty the USA did using carpet bombing of the above three countries besides others? And he is now accusing the Russians of cruelty, killing children because of the missile strikes. Is he telling us that carpet bombing does not kill children, which he is accusing the Russians of doing in Ukraine?
Honestly those morons like Austin in the USA and others in Brussels are juveniles trying to pull a fast one on the rest of the world by accusing others of what they already did decades ago. Putin was absolutely right, when he said that the USA always accuses others of doing what they already did.
And that Ukraine clown is not happy that the G7 only suggested capping Russian oil at US$60 and he said it should be US$30. This moron is a bigger joke. Russia is not even selling oil to those G7 countries, so what nonsensical shit are they capping? Capping hot air? And just imagine when other countries can buy Russian oil at any price, which are definitely cheaper than from USA, and they think the cap will cripple Russia? Even at US$30, or even US$60, Russia is not selling any oil to the G7. Russia will sell more to China and India, while the G7 can continue to buy expensive oil from the USA. Putin is not worried because non G7 countries will provide the demand once production cuts are agreed among OPEC+ countries. What can the G7 do?
As many have already commented, this is just like a buyer going into a shop and telling the owner he wants to buy something at a price that is up to the buyer to dictate. The seller will tell him to go and find a spider to play with. If this is their so called 'Rule of Law' that must be the mother of all fallacies.
Lloyd Austin is as ignorant as his cousins deep in the Africa Jungle.
He is a
blackie who is made-use of by
the Conqueror of his Mother-land.
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