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Pepe Escobar & Michael Hudson #dunning-kruger #moonbat thecradle.co

Will the Global South break free from dollarized debt?

Michael Hudson, one of the world’s leading independent economists, has given us arguably the ultimate handbook on where we’re at, who’s in charge, and whether we can bypass them.

The whole Global South will easily recognize the imperial modus operandi: “The strategy of US military and financial imperialism is to install client oligarchies and dictatorships, and arm-twist allies to join the fight against designated adversaries by subsidizing not only the empire’s costs of war-making (“defense”) but even the imperial nation’s domestic spending programs.” This is the antithesis of the multipolar world advocated by Russia and China.

In short, our current Cold War 2.0 “is basically being waged by US-centered finance capitalism backing rentier oligarchies against nations seeking to build up more widespread self-reliance and domestic prosperity.”

To a large extent, nostalgia for the rape-and-pillaging of 1990s-era Russia fuels what Hudson defines as the New Cold War.

The US economy is indeed a lame post-modern remake of the late Roman empire: “dependent on foreign tribute for its survival in today’s global rentier economy.” Enter the correlation between a dwindling free lunch and utter fear: “That is why the United States has surrounded Eurasia with 750 military bases.”

I asked him how he analyzed the current discussions between the Eurasia Economic Union (EAEU) and the Chinese – and between Russia and China, further on down the road – as being able to deliver an alternative financial/monetary system. Can they sell the alternative system to most of the planet, all while dodging imperial financial harassment?

Hudson does see some sunlight ahead: “As to your question of whether Russia and China can ‘sell’ this vision of the future to the Global South and Eurasian countries, that should become much easier by the end of this summer. A major byproduct (not unintended) of the NATO war in Ukraine is to sharply raise energy and food prices (and shipping prices). This will throw the balance of payments of many Global South and other countries into sharp deficit, creating a crisis as their dollar-denominated debt to bondholders and banks falls due.”

Pepe Escobar #elitist #moonbat #pratt thecradle.co

In St. Petersburg, the world's new powers gather to upend the US-concocted “rules-based order” and reconnect the globe their way

The St. Petersburg International Economic Forum has been for years essential to understand the evolving dynamics of Eurasia integration.

The one in 2022 is even more crucial. The coming of the “new G8” – four BRICS nations (Brazil, Russia, India, China), plus Iran, Indonesia, Turkey and Mexico, whose GDP per purchasing parity power (PPP) already dwarfs the old, western-dominated G8.

There was hardly any doubt President Putin would be the star, delivering a sharp, detailed speech to the plenary session.

Among the highlights, Putin smashed the illusions of the so-called ‘golden billion’ who live in the industrialized west (only 12 percent of the global population) and the “irresponsible macroeconomic policies of the G7 countries.”

It was up to Kazakh President Tokayev to deliver the punch line: Eurasia integration should progress hand in hand with China’s Belt and Road Initiative (BRI). Here it is, full circle.

One of the key targets of NATO’s proxy war in Ukraine is to interrupt BRI corridors across Russia. The Empire will go all out to interrupt not only BRI but also INSTC nodes. Afghanistan under US occupation was prevented from become a node for either BRI or INSTC.

With full access to the Sea of Azov – now a “Russian lake” – and arguably the whole Black Sea coastline further on down the road, Moscow will hugely increase its sea trading prospects (Putin: “The Black Sea was historically Russian territory”).

The contrast between the St. Petersburg debates on a possible re-wiring of our world – and the Three Stooges Taking a Train to Nowhere to tell a mediocre Ukrainian comedian to calm down and negotiate his surrender (as confirmed by German intelligence) – could not be starker.

Almost imperceptibly – just as it re-incorporated Crimea and entered the Syrian theater – Russia as a military-energy superpower now shows it is potentially capable of driving a great deal of the industrialized west back into the Stone Age. The western elites are just helpless. If only they could ride a corridor on the Eurasian high-speed train, they might learn something.

Pepe Escobar #conspiracy #moonbat thecradle.co

Aux armes, citoyens: dissecting the stage-managed French elections

In the end, it happened exactly like the French establishment designed it. I called it last December in a column here at The Cradle.

These are the essentials: Certified Arabophobe Eric Zemmour, who is of Algerian origin, was manufactured by key establishment players of the Institut Montaigne variety to cut off the populist right-wing candidacy of Marine Le Pen. In the end, Zemmour’s electoral performance was dismal, as expected. Yet another candidate pulled off a miracle intervention and was even more useful: ambitious egomaniac opportunist and so-called progressive Jean-Luc Melenchon.

Who, in fact, is this illusionist Petit Roi that qualifies at best as a messenger of transnational plutocracy?

Pigasse defines Macron as “the purest product of French elitism, in terms of the Parisian microcosm.”

The working classes will be literally exterminated throughout another five years of hardcore neoliberalism. France’s until recently stellar social welfare system will be decimated. Retirement age will be extended to 65 years old. Smaller pensions will be barely enough to live on. The super-wealthy will pay much lower taxes while the common worker will pay much higher ones. Education and healthcare will be privatized.

France will merrily catch up with the fast decaying casino capitalism of the US and UK. And don’t forget further travel restrictions and food and fuel shortages.

Meanwhile, in Azovstal…

Which bring us to the top invisible story before this election, totally buried by corporate media. Yet Turkish intelligence picked it up.

Denis Pushilin, the head of Donetsk People’s Republic, confirmed once again early this week there are roughly 400 foreign ‘instructors’ cum mercenaries – from NATO – huddling in the bowels of the Azovstal steelworks in Mariupol, with no way out.

Turkish intel maintains that 50 of them are French, some of them high-ranking. That explains what has been established by several Russian sources – but not acknowledged at all by Paris: Macron has placed a flurry of frantic phone calls to Putin to set up a “humanitarian corridor” to extricate his valuable assets.

Pepe Escobar #moonbat thecradle.co

Clash of Christianities: Why Europe cannot understand Russia

Under an ubiquitous, toxic atmosphere of cognitive dissonance drenched in Russophobia, it’s absolutely impossible to have a meaningful discussion on finer points of Russian history and culture across the NATO space – a phenomenon I’m experiencing back in Paris right now, fresh from a long stint in Istanbul.

At best, in a semblance of civilized dialogue, Russia is pigeonholed in the reductionist view of a threatening, irrational, ever-expanding empire – a way more wicked version of Ancient Rome, Achaemenid Persia, Ottoman Turkey or Mughal India.

Western Europeans see the Orthodox and the Christians from the East (see how they were abandoned by the west in Syria under ISIS and Al Qaeda) as satraps and a bunch of smugglers – while the Orthodox regard the Crusaders, the Teutonic chevaliers and the Jesuits – correctly, we must say – as barbarian usurpers bent on world conquest.

Since the 8th century, Carolingian and Byzantine Europe were de facto at war across an Iron Curtain from the Baltics to the Mediterranean (compare it with the emerging New Iron Curtain of Cold War 2.0). After the barbarian invasions, they neither spoke the same language nor practiced the same writing, rites or theology.

This fracture, significantly, also trespassed Kiev. The west was Catholic – 15% of Greek catholics and 3% of Latins – and in the center and the east, 70% Orthodox, who became hegemonic in the 20th century after the elimination of Jewish minorities by mainly the Waffen-SS of the Galicia division, the precursors of Ukraine’s Azov batallion.

As Putin made it quite clear this week: “Russia cannot allow the creation of anti-Russian territories around the country.” Operation Z will inevitably encompass Odessa, founded in 1794 by Catherine the Great.

Odessa is not Ukrainian: it’s an intrinsic part of the Russian soul. And soon the trials and tribulations of history will make it so again: as an independent republic; as part of a Novorossiya confederation; or attached to the Russian Federation. The people of Odessa will decide.

Pepe Escobar #conspiracy #moonbat #pratt thecradle.co

NATO vs Russia: what happens next

Three months after the start of Russia’s Operation Z in Ukraine, the battle of The West (12 percent) against The Rest (88 percent) keeps metastasizing. Yet the narrative – oddly – remains the same.

On Monday, Klaus Schwab introduced Ukrainian comedian-cum-President Volodymyr Zelensky, on the latest leg of his weapons-solicitation-tour, with a glowing tribute. Herr Schwab stressed that an actor impersonating a president defending neo-Nazis is supported by “all of Europe and the international order.”

He means, of course, everyone except the 88 percent of the planet that subscribes to the Rule of Law – instead of the faux construct the west calls a ‘rules-based international order.’

US risk agencies have downgraded Kiev to the dumpster of non-reimbursing-loan entities, so large American investment funds are ditching Ukraine, leaving the European Union (EU) and its member-states as the country’s only option.

Few of those countries, apart from Russophobic entities such as Poland or the Baltic midgets, can justify to their own populations sending huge sums of direct aid to a failed state. So it will fall to the Brussels-based EU machine to do just enough to maintain Ukraine in an economic coma – independent from any input from member-states and institutions.

Other targets remain unchanged, but are subordinate to the Top Two: make sure that the Democrats are re-elected in the mid-terms (that’s not going to happen); irrigate the industrial-military complex with funds that are recycled back as kickbacks (already happening); and keep the hegemony of the US dollar by all means (tricky: the multipolar world is getting its act together).

Poland goes for soft annexation

Polish President Andrzej Duda met with Zelensky in Kiev. The slew of agreements the two signed indicate that Warsaw intends to profit handsomely from the war to enhance its politico-military, economic, and cultural influence in western Ukraine. Polish nationals will be allowed to be elected to Ukrainian government bodies and even aim to become constitutional judges.

In practice, that means Kiev is all but transferring management of the Ukrainian failed state to Poland. Warsaw won’t even have to send troops. Call it a soft annexation.