Category Archives: Iraq
Iraq, officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert.
Obama’s Political Heritage? Nothing to Write Home About!
26.11.2016 Author: Martin Berger
Any election, and presidential elections in particular, are a sort of a test for the ruling party. Therefore, the number of votes received by the ruling elite shows if it is going to remain in power or be forced into the dustbin of history.
The latter happened in the US recently, where the ruling Democratic party had to give way to a new presidential candidate, which means that it has failed the test of the vote. It’s curious that to evaluate all the activities of the Obama administration one does not need to search for pro-Kremlin sites on the net, sites Hillary Clinton suggests are more capable of affecting US elections than any Western media source. Yes, we are being told that Russia was trying to manipulate the recent US presidential election, but let’s now take a look at what grade was given to “Obama’s reign” by the Western media itself.
As it was noted by Allen West, the executive director of the National Council for Policy Analysis (NCPA), an author, a retired U.S. Army lieutenant colonel and an outspoken former member of Congress in his interview for the Daily Caller, this recent election – is a rejection of the political class that failed the American people. “I think it is a huge referendum on the failures of Barack Obama” – he added, noting that after Obama, the US was reluctant to endure four more years of his successor in office.
In turn, the American Thinker would state that the US president is near the end of an eight year train wreck presidency. Though, it is no secret that he has done nothing for the black community, whose unemployment and crime rates are rising every day, while the demonization of police and the lauding of racist activists who condone assassination and lawlessness is carried on. This media source says that we all know that elitist progressives are nothing if not master liars and puppeteers. They have spent years tailoring and refining their manipulation of black communities, inflaming their resentment, bitterness and hopelessness by reminding them of how little progress they have been able to make, without reminding them that the Democrats have led them for decades into this dead end.
The Democrats are behind the declining role of the United States across the globe, the American Spectator notes. While the American Conservative goes further, noting that it’s looking like it may be Obama’s world vision headed for the proverbial ash heap of history.
Unfortunately for President Obama and his legacy, the American Thinker notes, history won’t be kind at all. Of course, he will always be the first black president but not much more than that. Obamacare is collapsing on its own. Yes, the GOP majority will move to repeal it, but that’s a bit like signing the death certificate on a person dead for months. It’s true that President Obama’s foreign policy is in total disarray. It’s hard to see anyone defending any of it, except for liberal Democrats from safe seats who just want to oppose President Trump. The US economy is desperately calling for liberation from Mr. Obama’s regulations.
According to the latest Gallup poll, Americans’ support for the healthcare law continues to be slightly more negative than positive, with 51% of the population disapproving of it. At the same time 29% of Americans say Obamacare has hurt them and their family. Yet another poll conducted by the same entity shows 50% of Americans say Obama deserves a “great deal” or “moderate amount” of blame.
The Economic Collapse says that President Obama’s Council of Economic Advisers announced that 83% of men in the prime working ages of 25-54 who were not in the labor force had not worked in the previous year. So, essentially, 10 million men are missing from the workforce across the US today. This means that the Wall Street Journal is right about dubbing the situation in America as the weakest “economic recovery” since 1949.
This entire seven year stretch since 2008 has come while Barack Obama has been in the White House and he is solidly on track to be the only president in US history to never have a single year when the US economy grew by at least three percent.
It’s noted that under Obama, US national debt will come close to doubling. What that means is that during Obama’s eight years Americans would accumulate almost as much debt as they did under all of the other presidents in US history combined. Right now, the US government is responsible for about a third of all the government debt in the entire world.
The Foreign Policy Journal is convinced that the proximate cause behind the rise of Islamic State, Jabhat al-Nusra and myriads of other terrorist groups in Syria and Iraq has been Obama Administration’s policy of intervention through proxies in Syria, which leads to the conclusion made by the Week that Obama will leave his successor a ticking time bomb.
So no matter where you look, it’s unlikely that anybody has any words of praise left for Barack Obama and his eight years in office. One can only hope that the new president-elect will not follow in Obama’s tracks, since it doesn’t look like the US and the world can take any more disastrous decisions right now.
Oil Tests May Prove One Test Too Many for Erdogan
09.12.2015 Author: Henry Kamens
Before oil is sold, it is tested. Oil test labs know exactly where the oil they test comes from and where it goes. We knew this even before the Las Vegas Sun broke a story about it.
But even though this story provided confirmation that there is no mystery about the oil sales funding ISIS, or the mechanism behind them, it hasn’t prevented these sales and transports continuing. This is because the logistics behind them are so sophisticated, and overseen at such a high level, that it is very difficult to isolate and expose the weak links in the chain.
When Bob Woodward of Watergate fame investigated drug use in Hollywood for a biography he found it more difficult to get to the truth than he had with Watergate, because the film industry closed ranks. Imagine how hard it is to expose what world governments are doing to support terrorism, when they try so hard to pretend they are doing the opposite. But maybe, just maybe, enough fingers are pointing in one direction to make it easier for other players to find an alternative, and sacrifice an ally along the way.
Would-be emperor with no clothes
We don’t know all the players involved in the transport and sale of ISIS oil. Inevitably, many are actually reputable oil testing and transport companies who go through the same procedures every day without them being called into question. But a few names which keep cropping up are a bit less than reputable, largely due to the concerns over their existing connections and how they maintain the bottom line.
One of these is Genel Energy Plc. This is one of the Rothschild companies, which should start alarm bells ringing in itself. Giving it the benefit of the doubt, we can say that it has made vast investments in Syria and Northern Iraq and it would make more business sense if it could deal with one compliant government in these countries rather than two unreliable ones. Taking a less charitable line, we can suggest, as some pundits have, that there has long been a Rothschild plan to create a Kurdish state for this purpose, and it was in the works even before the 9/11 attacks.
However, no one is going to sacrifice the Rothschilds, who can buy and sell any country on earth, and through investing in military actions. So if one of the players has to be cut out for being an embarrassment, it would have to be one the West already has plenty against. This is where, once again, Turkish president Recep Tayyip Erdogan comes in. He and his clan have made a lot of money by abusing their authority to become major components in this business. But if anyone has to take a fall to keep the operation running, they are the prime targets, and they know it.
Divorce of convenience
Turkey is a US ally because of where it is. It may be under constant disapproval for being everything the West claims to oppose, but as long as it is useful that doesn’t matter, unless, of course, you have the misfortune to live there.
One of Turkey’s most useful features is its ports – or rather, certain ports not actually in Turkey. Under the Treaty of Kars, signed in 1921, the area now known as the Adjarian Autonomous Region was ceded by the transitional Turkish state to the Georgian Soviet Socialist Republic. However, one clause of that agreement states that Turkey has the right to transport goods in and out of the port of Batumi without paying any duties and can use the port whenever it wants without paying any duties. In effect, this means it retains control of Batumi’s port facilities, and can classify them as a “strategic interest”.
This arrangement has several useful aspects. Firstly, the Georgian authorities cannot police the port. Turkey can do whatever it wants there, transporting goods which would be too risky to move elsewhere, and Georgia’s best bet is to claim a piece of the inevitable action. Secondly, as the port is a “strategic interest” any threat to it can be met with a military response, under another clause of the Kars treaty. Get too close, Turkey sends troops in, you risk World War Three over some dodgy goods.
Thirdly, the port was once in the Soviet Union and is now very close to Russia. People, as well as goods, can be smuggled through it, and this has created the smoke-and-mirrors world Batumi presents today, in which no one knows who really controls what. It has long been known as a can of worms best steered clear of, and this is the advice routinely given to reporters, diplomats, businessmen and even Black Sea holidaymakers who get too close to something they aren’t even aware of.
The nature of this port operation was confirmed in 2007. In that year Georgia embarked on an investigation into alleged Russian spies in its Ministry of Defence, including links to Saybolt Georgia. This was conducted with the help of Turkish and Israeli intelligence, but focused not of the Georgian MoD itself but on Batumi, where a thorough investigation was done into everything no one else is allowed to get near. It goes deeper than that … but let’s start with pipeline wars and all kinds of intrigue for the record.
It was later alleged that Russia had set up a spying facility in Batumi, disguised as an oil testing laboratory. But that would have nothing to do with the Ministry of Defence. The ministry’s name had been used to justify bringing in outside intelligence services for another purpose, Georgia having its own intelligence service, which calls in the CIA, not Turkey and Israel, when it wants extra help. So several of the managers of Saybolt Georgia, Armen Gevorkian, director and Ruben Shikoian, his deputy were arrested based on trumped up spy charges. The purpose was to secure actual control of oil exports from Georgia, and this was done in collaboration with Turkish intelligence—as now there would be no oversight.
When the long-preplanned Georgia-Russia war came the following year some regional analysts wondered why Georgia’s largest seaport was not being bombed by Russian planes. Israel is, of course, always seeking friendly terms with Russia as well as being a US ally, and secures a regular supply of oil through Batumi. They also asked why the war only lasted eight days, despite the Western protestations of support for Georgia. Turkey’s behind-the-scenes reminders of its right to intervene to protect its interests, and the disruption this would cause to global oil supplies, go a long way to explaining this.
So it is hardly surprising, given this background, that influential people in the Turkish state use the port for their own purposes. These include the son of President Erdogan. Bilal Erdogan owns the BMZ group, a marine transport company. Of all the companies he might own, this is the one he considers the most useful and unimpeachable.
Both Russia and Syria have openly accused the Erdogan family of transporting undocumented crude oil deriving from ISIS. Russia has also stated that the shooting down of its plane was retaliation for Russia bombing truckloads of oil supplies near the Syrian border.
Obviously the Erdogans deny all this. But Turkey is known to have smuggled Kurdish crude oil through another port, Ceyhan, for years. That port is state-owned. It is also Turkish state policy to support the Syrian opposition through oil sales, alongside the Western powers who arm, fund and train them, and therefore a state-controlled oil smuggling mechanism must exist and be part of a wider Western oil supply operation.
Turkey is serving a purpose, in exchange for the usual payoffs. But maybe the gravy train is about to come to an end. It is possible for test labs to tell exactly where the oil came from. Exactly!
Proof of the pudding
All the information now being released in the Western media conveniently smears Turkey. It is not the only country involved of course. But it is the one which will suffer most when the West tries to continue its game by investigating the allegations which are now being made.
When oil tankers arrive at their destinations the oil they carry can be retested. If results are falsified in Batumi or elsewhere, this will be picked up later on. At the moment the BTC oil pipeline, which passes through Batumi and Ceyhan (the ‘B’ and ‘C’ of its name) does not keep backup samples after testing, which suggests that some of the oil going through it is not what it is purported to be. But this must have been exposed elsewhere, by end users who may now be being given the signal that to maintain their existing supplies, it is in their interests to say what they know.
After all, this process has been gone through before. One of the oil testing labs in Batumi was once run in collaboration with a company called Saybolt Georgia. It parent company, based in The Netherlands, has a sordid history, having been implicated in Food for Oil deals with Iraq between 1996 and 2003.
Saybolt was set up as a scapegoat by US testing company Intertek Caleb Brett, working with US and Turkish intelligence. These parties raised no objection when it hired the son of Alex Bakradze, the former Head of State Security for former Adjarian ruler Aslan Abashidze. When the time came, Caleb Brett dropped the word and it was reported that Saybolt wasn’t all it presented itself as. Saying it was obliged to investigate its own allegations, it discovered that the head of the testing had had no qualifications whatsoever and removed several staff for having failed drug tests, which were of course undertaken in-house.
Thereafter Saybolt’s history revealed, and its connection with Bakradze and the reviled regime his father worked for made public knowledge. Caleb Brett did not pretend this was anything other than a plot: one of its management told one of the dismissed employees, “I can continue to list all non-conformities in QHSE/Compliance, Georgian Branch to explain the departure of one testing employee who was terminated and to share it with the media”.
It is no coincidence that both the BTC pipeline and the smaller Baku-Supsa pipeline are often down for repairs. The oil is merely abstracted from the point at which the repairs are being made, usually before it arrives to Georgian pumping station number 2, and sold on to third parties who use other routes controlled by the same logistics mechanism, off the books. Employing incompetents appears, on the surface, to give a very good reason for undertaking repairs. The repairs themselves also involve filling the pipeline with oil which has not been documented or tested, as theoretically, it isn’t being sent there, until the next political realignment of the logistics arrangements needs to take place.
Ignorance is not bliss
Few would shed tears if the Erdogan family were brought down by oil testing as the case study shows in Georgia. Turkey would likewise present itself as cleansed of its rotten apples, with the same vigour the US displays when distancing itself from Richard Nixon, whose many crimes were not only known about but encouraged by many of those who vilify him today. Then it would continue as an ally on new terms, and we would be told that its ISIS-funding past had been forgotten.
The mechanism for doing this is there, as Caleb Brett tests everything which passes through the BTC pipeline and always has. It has enough knowledge to bring Turkey’s leadership down overnight, and the information we are now receiving indicates that it is interested in doing this. It would also implicate itself of course, and its US and Turkish intelligence partners, if the full extent of its institutional knowledge was revealed. But only the discredited Turks will reveal it, while the international logistics mechanism will be subtly rejigged, with different players, and supplies of ISIS oil to the West, which suit both parties, will continue.
Insider sources claim that these same companies, and players, are tied in with the tankers used today in the smuggling of ISIS oil, and that nexus will give us the link with a group of Georgians working out of the Ukrainian port of Odessa, including former Georgian president Mikheil Saakashvii.
When Jimmy Carter was US president he made a number of public addresses about energy, including his famous “malaise” speech. He eventually stopped doing it because the American people were no longer listening. You can get away with a lot if people aren’t really interested in what you’re doing. The progressive exposure of the Erdogan family’s oil smuggling for ISIS will bring down an ally which has pushed its luck too far, but that, rather than what they have done, will be the story.
The actual oil smuggling, and devastation it funds and causes, continue because none of us care enough to stop it. But that is no excuse for cynically exploiting the fact to destroy your own allies, simply because you have the power to do so.
Henry Kamens, columnist, expert on Central Asia and Caucasus, exclusively for the online magazine “New Eastern Outlook”.
Libya: CIA Operation “Zero Footprint”
CIA Operation “Zero Footprint”, Qatar, Benghazi and The Connection To Ahmed Abu Khattala – The Real Motive For The Obama Administration’s Recent Arrest…
June 18, 2014 by sundanceYesterday, it was announced the Obama administration had moved on Sunday to arrest a Benghazi al-Qaeda leader Ahmed Abu Khattala. Many people, including Fox’s James Rosen pointed particular questions to the State Dept. about “why now”?
As unbelievable as this might sound, the most likely answer has little to do with what’s currently being pondered as a motive for this administration, “squirrel”. The reality is within the Bergdahl deal, and the GITMO-5 to Qatar, there is a far more likely reason.
Ahmed Abu Khattala is directly connected to the covert transfer of U.S. arms from Qatar to Libya in the initial 2011 decision to arm the Benghazi “rebels”.
Against the backdrop of recent discoveries about Qatar giving some of the aforementioned arms, specifically stinger missiles, to the Taliban in Afghanistan – Khattala became a risk of exposure to the White House.
They needed to throw a bag over him.
Bear with me through the complexity and I’ll outline the events with all citations included for reference.
On March 30th 2011 Reuters News Agency reported that President Obama had already signed a secret order authorizing the CIA to provide covert support to the Libyan opposition, an operation that would become known as “Zero Footprint”.
2011- U.S. officials also have said that Saudi Arabia and Qatar, whose leaders despise Gaddafi, have indicated a willingness to supply Libyan rebels with weapons. (link)
Ultimately a joint decision between the State Department (Hillary Clinton) and CIA (General David Petraeus) was reached to use friendly nations as cover for direct shipment of U.S. arms into Libya as part of Operation Zero Footprint.
According to federal law, in the event a covert operation is deemed necessary, it is the president’s responsibility to alert the leadership in the House and Senate, as well as the chairman and ranking members of the Intelligence Committees in both chambers.
In the intelligence community, this group is referred to as “the Gang of 8″ [ John Boehner, Nancy Pelosi, Mike Rogers, Ruppersberger, Mitch McConnell, Harry Reid, Diane Feinstein, Saxby Chambliss].
The Gang of 8, which included leaders from both parties should have known about Operation Zero Footprint. Now think about all the political people who have either thrown roadblocks up, or dragged their heels, in the two years since the Benghazi attack…. now go back and look at that list again. Got it? OK, good… read on.
Ironically – who probably didn’t know about Zero Footprint? John McCain – Seen here, in Benghazi, with Chris Stevens around the time it was all being executed.
It is important to remember this covert operation was after General Carter Ham (Africom) was removed in his authority over the Libyan conflict and NATO took over.
Nothing moved in and out of Libya but for the approval of NATO; so Admiral Stavridis, NATO command, had to authorize any of the armed shipments that came in there.
By the time of this White House/NATO decision Chris Stevens was embedded in Benghazi, helping to coordinate those arms shipments.
In the process constructed NATO (via Stavridis), following the instructions of the U.S. State department and CIA, used the United Arab Emirates (UAE) as the financier of the weapons.
Qatar was used as the front or go-between to handle the logistics and shipping of the weapons in and out of Libya.
Ahmed Abu Khattala in his position as the insurgent commander within the Libyan Islamic Fighting group, and as leader of Ansar al-Sharia (which is the Muslim Brotherhood link in Libya), was the recipient of all those arms flowing into Libya.
Khattala was the commander within the actual fighting force on the ground. Khattala was the leader of what Hillary called “the rebels”.
It was only a year after the attacks on the State Dept./CIA compound – on December 31, 2013- when the State Department designated Ahmed Abu Khattalah as a global terrorist.
Khattalah was the senior leader of the group Ansar al-Sharia, known for its extreme hostility toward the West. Khattalah had spent most of his adult life imprisoned by the Qaddafi regime for his Islamist views, fueling his hatred for the dictator.
Because of the unique construction of the entire Libyan operation the Department of Defense and the FBI had virtually no knowledge of Operation Zero Footprint, which is completely consistent with the US Senate Select Committee’s finding after the Benghazi attack.
In addition -as has previously been reported- AFRICOM Commander General Carter Ham was not aware a CIA Annex even existed in Benghazi, at the time of the attacks.
As the Senate Select Committee pointed out:
We are puzzled as to how the military leadership [vis-a-vi Ham] expected to effectively respond and rescue Americans in the event of an emergency when it did not even know of the existence of one of the U.S. facilities.
Details of the covert weapons operation Zero Footprint were tightly guarded among select members of Congress (the Gang of Eight), the CIA (Petraeus), the State Department (Clinton) and the White House (Donilon), who were all trying to manage a covert operation that would expose a U.S. policy decision to arm al-Qaeda, the Muslim Brotherhood and other Islamist militias. A decision that would ultimately lead to the death of Ambassador Chris Stevens, Sean Smith, Tyrone Woods and Glen Doherty.
A few weeks ago, when the political team of McDonough, Blinkin, Rhodes et al, made the political decision to use Bowe Bergdahl as an example of President Obama’s military bona-fides, and try to cover the growing VA scandal, they didn’t think through the possibility of a linkage with Qatar so heavily referenced in the media again as part of the deal to release the GITMO-5.
Indeed, Qatar might have slipped by unnoticed were it not for the backlash against the release of the terrorists and the political hot-potato the entire decision became.
The White House team could never have anticipated the re-surfacing of Qatar and the connections that came up to Qatar’s previous less-than-honorable follow-through with the Libyan missiles; some of which ended up in the hands of the Taliban and were used against U.S. forces in Afghanistan.
However, once folks –including media– began sniffing around the Qatar connections, the problem of Ahmed Khattala re-surfaced as a risk that needed to be under control. The risk compounded with the reality that ISIS, the Syrian al-Qaeda insurgency, was in the news all over Northern Iraq holding the same -albeit a different batch- stinger missiles previously id’d to the Taliban.
So last Sunday they threw a bag over him.
Now, with all of that absorbed, take a break – grab a beverage – and sit down to watch this video you’ll see how it all comes together: Here
After Iraq, Libya, Iran now Russia wages Petrodollar War
April 29, 2014
The Ministry of Finance (MoF) on President Putin’s order yesterday accelerated the opening of the St. Petersburg Exchange (SPE), where prices for Russian oil and natural gas will be set in rubles instead of US dollars.
Putin’s order regarding the SPE was in direct response to the US placing sanctions yesterday upon Igor Sechin the CEO of the Russian energy giant Rosneft and a nominated board member of the SPE, and of which Deputy Minister for foreign relations, Sergey Ryabkov, had warned: “A response of Moscow will follow, and it will be painfully felt in Washington DC.”
Sechin, was directly threatened by the Obama regime earlier this month due to his October 2013 remarks at the World Energy Congress in Korea where he called for a “global mechanism to trade natural gas” and went on suggesting that “it was advisable to create an international exchange for the participating countries, where transactions could be registered with the use of regional currencies”.
Sechin, as one of the most influential leaders of the global energy trading community now has the perfect instrument to make this plan a reality with the SPE where reference prices for Russian oil and natural gas will be set in rubles instead of US dollars and could literally destroy the petrodollar.
As we reported earlier already Russia and India are planning to remove the Dollar, meanwhile many speculators believe that the Yuan may already have become a de facto reserve currency. Also to be noted is the epic $30 Billion Oil Pipeline undertaken by Russia, India, China that could shift the Geopolitical balance.
The use of this “Financial Nuclear Weapon” (the sale of oil in a currency other than the US dollar) which was previously deployed by Saddam Hussein, resulted in the total destruction of Iraq, but it failed to deter other countries angry with the highhandedness of the US.
Libya made another attempt and it resulted in the destruction of the country and the brutal murder of its leader Muammar Gaddafi.
Next was Iran. The US and the global financial war party found it much more difficult to isolate and annihilate Iran, even when it was threatened with outright nuclear attack by US and Israel. And in spite of unprecedented sanctions against Iran (which constitute economic warfare and are war crimes in itself), Iran stood defiant.
The leading members of BRICS (Brazil, Russia, India, China and South Africa) Russia and China restrained themselves so as to preserve global stability.
However, the war party faction of the US took such restraint as weakness and went on a spree of regime change throughout the world to undermine the growing strength of BRICS.
The “straw that broke the camels’ back” was the unbridled and reckless coup against the elected President of Ukraine by US and NATO and orchestrated by the US State Department and led by the war-monger Victoria Nuland, who openly admitted that the US had disbursed through such organizations as the National Endowment for Democracy (NED) over $5 Billion to facilitate the coup. Further to this just a couple of days back as reported by Bodhita US backed elite ‘Rape-Murder’ Alpha Squads were captured in Ukraine.
Critical to understand about the current Ukrainian Crisis, is that it has “absolutely nothing” at all to do with either Ukraine or its people, but should be understood for what it really is…a “sledgehammer” the US is attempting to use against Russia to prevent the opening and expansion of the SPE.
By perpetually expanding the US money supply, it’s important to note, America’s standard of living for its elite classes increases as well. The only problem with this situation is that the only way that it can be sustained is if the demand for the dollar and for US debt securities remains consistently strong.
Grasping this last point is extremely important. For if the artificial global US dollar demand, made possible by the petrodollar system, were ever to crumble, foreign nations who had formerly found it beneficial to hold US dollars would suddenly find that they no longer needed the massive amounts that they were holding.
This massive amount of dollars, which would no longer be useful to foreign nations, would come rushing back to their place of origin… America.
Obviously, an influx of dollars into the American economy would lead to massive inflationary pressures within their economic system and collapse it, along with that of the EU too.
It is difficult to overstate the importance of this concept as the entire American monetary system literally hinges on this “dollars for oil” system. Without it, Washington would lose its permission slip to print excessive numbers of dollars.
With thousands of NATO-backed Romanian troops now moving to the Ukraine border, along with British and French fighter jets now being deployed to Lithuania and Poland to join their recently arrived US military allies, it cannot be ruled out that the US will attempt to start a war with Russia in order to protect their petrodollar scheme.
In spite of the fact that all Russian military forces have returned to their permanent bases and Minister of Defense Sergei Shoigu assured his US counterpart Secretary of Defense Chuck Hagel yesterday during an hour long phone conversation that Russia had no intention of invading Ukraine, Moscow has become increasingly “alarmed” by the combined US-NATO military buildup on its borders that Minister Shoigu called “unprecedented”.
As for the Ukrainian people themselves being used as pawns by the US against Russia in this “petrodollar war”, their lives are quickly turning from despair to outright misery as they are forced to swallow the “bitter pill” being forced upon them by the International Monetary Fund (IMF) which is forcing their fuel and energy costs to skyrocket and taxes being raised on everything from alcohol to tobacco, not to mention the tens-of-thousands of public jobs being made redundant (layoffs and firings) and the nearly 5% cut in payments to pensioners.
Even worse for these “US Pawns”, wages now in Ukraine are, as a rule, not enough to feed a family, and the devaluation of their currency will make it totally impossible for these people to absorb these costs.
It is critically important to note that back in 2008, when the US brought the world to the very brink of total economic collapse, then Deputy Prime Minister Dmitry Medvedev warned that Russia should seize opportunities created by the weak US dollar. “Today, the global economy is going through uneasy times,” he said. “The role of the key reserve currencies is under review. And we must take advantage of it.”
Six years later that is what Putin is doing…nobody can say that they weren’t warned.