Pessimism is now mainstream

“Dark Outlook”: Dismal NBC Poll Reveals Most Americans Think Country Going “Downhill” And Is “Lost”

https://www.zerohedge.com/political/dark-outlook-dismal-nbc-…

I think we in Europe are in much the same position. It was hoped that the euro would share the top economic spot with the US dollar, but times are moving ahead.

Both Russia and China have been buying large amounts of gold, and Russia is, yet again, threatening a gold backed currency:

Russia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining.

https://bitrss.com/news/237313/russia-may-allow-crypto-minin…

The Anglo world is weak, Europe militarily so, and dependant on Russia for its gas - how crazy is that

3 Likes

The Anglo world is weak, Europe militarily so, and dependant on Russia for its gas - how crazy is that

Do you think that was an accident … ?

If so I have a pipeline for sale to cure all the problems created by massively over optimistic expectations for windmills and solar panels to replace coal and perfectly good nuclear power plants by politicians hoping to hang on to their jobs long enough to qualify for their pensions.

Anymouse

8 Likes

Both Russia and China have been buying large amounts of gold, and Russia is, yet again, threatening a gold backed currency:

That’s a threat?

8 Likes

Both Russia and China have been buying large amounts of gold, and Russia is, yet again, threatening a gold backed currency:

That’s a threat?

It certainly is to the petrodollar. The USA taken out previous threats but I think China and Russia might be a little too difficult:

What was NATO’s violent intervention in Libya really all about? Now we know, writes Ellen Brown, thanks to Hillary Clinton’s recently published emails. It was to prevent the creation of an independent hard currency in Africa that would free the continent from economic bondage under the dollar, the IMF and the French African franc, shaking off the last heavy chains of colonial exploitation.

https://theecologist.org/2016/mar/14/why-qaddafi-had-go-afri…

From sanctions to the US marines, the USA has done everything it could to keep the petrodollar system in place. It is now facing a slow lingering death:

The Decline And Fall Of The Petrodollar

https://seekingalpha.com/article/4223468-decline-and-fall-of…

It certainly is to the petrodollar. The USA taken out previous threats but I think China and Russia might be a little too difficult:

The west has some rubles. The counter to the “threat” is to constantly offer rubles first in trade. Sinking the ruble completely. Causing massive inflation in Russia. Even if gold is offered for final settlement at the end of the day. Just keep pushing the ruble at the Russians.

The US is getting into position to supply Europe with more energy. Other players may kick in more as well. That easily could mean most of the Russian supplies are unnecessary. Causing another headache for Putin.

Putin will use force. He will met with failures.

Regardless of how a nation claims to back its currency, it can change that backing at a moment’s notice, especially in an autocratic regime. Earning trust in a currency involves a lot more than gold. I’m not putting any cash in rubles or yuan. I can’t imagine any European or American company holding those currencies either, beyond what may be needed for day-to-day transactions.

1 Like

Thank you for recommending this post to our Best of feature.

Both Russia and China have been buying large amounts of gold, and Russia is, yet again, threatening a gold backed currency:

That’s a threat?

Sort of somewhat slightly related? Well it mentions Russia and Gold!

Tim

https://www.world-nuclear-news.org/Articles/Deal-signed-for-…

Deal signed for nuclear to power Russian gold mine

21 January 2022

The agreement signed by Rosatom and Seligdar covers the supply and consumption of energy from a small modular reactor (SMR) nuclear power plant to develop the Kyuchus gold deposit in northeast Russia’s Republic of Sakha (Yakutia).

The deal is for 40 years of electrical power supply from the SMR with a RITM-200N reactor, starting from mid-2028.

The terms of the agreement see Seligdar using at least 35 MW of nuclear-generated energy in the Kyuchus project, which is estimated to have gold reserves of at least 175 tonnes.

Six RITM reactors have already been manufactured and used in the Russian icebreaker fleet, but this would be the first land-based one and “incorporate many years (400 reactor-years) of operating experience of small reactors”, Rosatom said.

https://wna.informz.ca/informzdataservice/onlineversion/ind/…

1 Like

The Anglo world is weak, Europe militarily so, and dependant on Russia for its gas - how crazy is that

Kyle Bass, in an interview on CNBC this morning, said that Germany is prohibiting the US and Britain from crossing German airspace in their massive military hardware supply airlift arming Ukraine against Russia.

Apparently, politicians’ high-minded principles and beliefs can be nullified by dependence upon Russian petroleum to keep the voters from freezing to death.

1 Like

Notehound7
Germany is prohibiting the US and Britain from crossing German airspace in their massive military hardware supply airlift arming Ukraine against Russia.

Same kind of cr@p France pulled when Reagan had to go after al-Gaddafi in Libya in payback over the Lockerbie PanAm plane bombing, didn’t want their country over flown by the planes taking off from UK. Turned a mission into an excessive many multihour operation, multiple in flight refuelings, etc…

Question: Then and now? Exactly WHAT WOULD be the response if the airspace denial from an ‘ally’ were ignored, and the pilots did what they had to do to expedite the mission? The question MUST come up with mission planners, right?

1 Like

politicians’ high-minded principles and beliefs…

…is an oxymoron! Politics is ‘The Art of the Possible.’

The Captain

1 Like

Brer,

This is good cop bad cop…played out for the Russians. Germany is offering power to Putin in a fig leaf of sorts as a way out for Putin. A few extra hours of flight time is a low price to pay for the Ukrainians if Putin goes back to the Russians are powerful so why bother with this? I think that is a pipedream. But oh well. There may be politics in Germany that also play into this stance.