So Scholz has admitted energy crisis will last for years. We said this from outset of war because it is that obvious. If west wanted to wean itself off Russian energy it needed measures put in place and fully operational which takes years before starting an energy war with Russia

Western financialisation of economies meant they thought that they had an answer for any future crisis. Problem is they neglected real world issues and now they are completely incapable of understanding how to do so, so they resort to completely flawed fiscal/monetary policies

US never intended to use Europe as collateral damage in Ukraine war. Wanted to use Europe as leverage. They completely miscalculated Russia's economic resilience and support for Putin. Now they have no choice but to double and triple down and in process they are imploding west.

Responsible nations should always put needs of their own people first. It is very clear that wrt Ukraine war, western nations are putting those needs very much second. Completely unacceptable stance to take. Any decisions made wrt supporting Ukraine have to take account of this

Myanmar will be purchasing Russian oil products in Rubles.

Exactly, not exclusively serious risk either, there are several.

BofA: "In our view, declining liquidity and resiliency of the Treasury market arguably poses one of the greatest threats to global financial stability today, potentially worse than the housing bubble of 2004-2007."

Western Chinese experts believe Beijing is running out of dollars when it has multiples higher than the official 3tn of forex reserves. It is dumping USTs like any rational nation would do now.

Putin says G7 oil price cap would be an absolutely stupid decision

We will not supply anything at all if it is contrary to our interests. No gas, no oil, no coal, no fuel oil, nothing.

Incredible to see how much of west is incapable of understanding that the Ukraine war has destroyed the nation state as it exists. It will be impossible to reconcile differences between the people and can never become whole again. That is a tragedy for Ukraine and its people

Inflation in the Netherlands for the month of August was officially 12%.

This is a record high.

As ever because the west doesn't see a world existing outside the G7, Europe and a few others, it continues to be unaware that the Global South is where the vertical growth sectors are and they also want cheap reliable energy from trusted partners, which includes Russia.

If US was to bring manufacturing home the reality is it currently couldn't produce goods cheaper enough to compete with Asia and domestically you would have inflation caused by rising production costs and spiralling wage demands due to that inflation.

Worth recalling

China has executed currency swaps in RMB with more than 40 countries.

China has an alternative to SWIFT, CIPS is utilised in over 1,300 banks in 103 countries with more than 80 trillion yuan transacted through CIPS in 2021.

GBP has fallen to its lowest level against the Dollar since 1985.

When people are promoted to the point of total incompetence the outcome is always immediately disastrous for those below them and ultimately for everyone in their sphere of influence.

So Germany's nuclear reactor operator E.ON stated correctly that it is not technically possible to keep nuclear power plants on standby.

Someone tell that to the German government.

Argentina now confirmed as having sent an official letter to China to become a member of BRICS.

Nations in the Global South are increasingly realising that stepping outside the western financial system architecture has significant benefits.

Expectation that Putin is going to attend the APEC summit in November.

APEC nations are Australia Brunei Canada Chile China Hong Kong Indonesia Japan S Korea Malaysia Mexico New Zealand Papua New Guinea Peru Philippines Russia Singapore Taiwan Thailand US and Vietnam

There is an incorrect idea floating around the #fintwit world that to have a WRC you have to run enormous trade deficits. The US managed perfectly fine running a trade surplus to 1971 when it could no longer finance the Vietnam war and abandoned Bretton Woods.

Russia is now signalling that it regards gold and the yuan as the primary reserves they want to increase their holdings in.