What is still poorly understood is since 2008 we have created ludicrous asset bubbles which will have to return to their true mean.

This is going to have serious repercussions. There is no magical solution to resolve this.

This is a meaningless and completely unenforceable policy decision designed to convince people the west can still be tough on Russia via sanctions.

Russia is not going to buy, sell or accept payment in gold from any western nation.

https://edition.cnn.com/2022/12/08/business/defense-bill-russia-gold/index.html

The significance of this should not be underestimated.

https://twitter.com/KSAmofaEN/status/1600843819217743872?s=20&t=sv0JxeblGMvGkZu4tolRhg

Another miscalculation.

https://nytimes.com/2022/12/05/us/politics/cruise-missiles-russia-ukraine-sanctions.html

Some of the cruise missiles that Russia launched at Ukraine’s civilian infrastructure in late November were manufactured months after West imposed sanctions intended to deprive Moscow of components needed to make those munitions.

The Ukraine war is as much as anything about who will collapse first, economically, financially and societally.

NATO allies and other EU countries or Russia.

Very few will agree with this assertion, but the decline of the US began with the crash in October 1929. Empires take decades and longer to collapse. The idea that the decline started in 2008 is wholly incorrect. That was the signal that US and by extension the west, had failed.

So it continues:

Eurasian Economic Union (EAEU) member states have signed agreements to implement financial industrial cooperation equivalent to $270bn. This will be conducted in non-dollar terms.

Still seeing this very puzzling assertion that masses in US have huge savings they have yet to spend since the pandemic, when it is very clear that US economy continues to only function on the basis of maxed out credit cards, loans, overdrafts and every other credit facility.

Interview with @KinesisMonetary now available.

We will be doing another one in the New Year.

https://youtu.be/hebKvgIXECY

2016:

What is clear is another key swing nation is rotating east and not only towards China. In recent developments, Russia and Saudi are discussing matters relating to Syria and cooperation agreement with regards to oil markets which would appear to freeze out US oil producers.

This has been in the works for several years as we previously discussed.

China proposing yuan settlement of oil and gas trade with GCC nations via Shanghai oil and gas platform.

We are now in the public phase of such developments.

Seeing alot of analysis by westerners talking about how China and GCC nations will trade energy. As usual through western eyes.

Problem also is they are missing a critical component as this is bilateral/multilateral trade and investment.

They are presenting half of the picture.

Amusing to see US refer to China as an EM nation. In PPP terms China's economy is bigger and when you strip out noise from US GDP (50%), China's is also greater.

US is propped up with trillions of printed money, bailouts and credit.

That is not even the definition of an EM.

Clown show continues:

Stoltenberg:

Ukraine war could ‘no doubt’ lead to wider conflict. There is no doubt that a full-fledged war is a possibility.

Meanwhile NATO continues to risk causing the very thing Stoltenberg fears.

More developments wrt to Palestine.

Huge developments are coming, but don't expect any instant resolution. However don't expect this to take many years either.

https://twitter.com/YDunhai/status/1601511039304339456?t=tRFJur3Q2Oe9iyiOvTPohg&s=19

Appears Washington at least now fully understands the gravitas of relations between China and Saudi Arabia and the wider GCC.

The panic in the Beltway is palpable.

https://twitter.com/USAmbChina/status/1601382941854146560?t=6RkAWkmVPjHhm8eZouiSeA&s=19

There will not be a global reserve currency in the future.

The dollar doesn't need to be replaced, it will just continue to fade into relative obscurity.

The US is often accused of displaying excessive hubris. In many senses it actually has luddite behaviour, ranting at the world that there is no other way than their way, whilst the Global South gets on with its own latter day industrial style revolution.

What do they imagine Russian response will be?

The Pentagon has given a tacit endorsement of Ukraine’s long-range attacks on targets inside Russia after President Putin’s multiple missile strikes against Kyiv’s critical infrastructure.

https://www.thetimes.co.uk/article/ukraine-drone-warfare-russia-732jsshpx