Category Archives: Russia

Ilargi: Follow The Money All The Way To The Next War

The prospect of unnecessary war has focused Ilargi’s mind. He starts with an important article in Handlesblatt that a record number of NC readers flagged, then turns to an issue we’ve focused on: what is the evidence behind US claims of Russian responsibility for the downing of MH17? After Colin Powell’s Iraq WMD canard, it’s remarkable that anyone accepts “trust me” from American officials, but remarkably, that’s where things stand.

One excuse offered for the failure of the US to support its claims is that the military apparatus does not want to expose its information-gathering capabilities. But there’s another, more obvious reason.

Ilargi: Europe Teeters On The Edge

Yves here. Ilargi is more amped up that usual on the topic of Europe’s self-inflicted wounds resulting from joining the US in imposing so-called Tier Three sanctions against Russia. This own goal results from Europe offering itself as as economic shield, since by virtue of having its nations far more engaged in commerce with Russia than the US, it stood first in line in the event Russia decided to respond in kind. And that’s before you throw in that Europe’e economy and its banking system are in far more fragile shape than America’s.

Michael Hudson: The Fracking/World Bank/IMF/Hunter Biden Dismantling Plan for Ukraine

Richard Smith was early to take a dim view of R. Hunter Biden becoming a director of a Ukraine’s biggest private gas producer, Burisma Holdings:

This has to be a hoax, right?

It’s so bizarre that you almost have to assume it’s a hoax. It sounds more like a cliched movie plot — a shady foreign oil company co-opts the vice president’s son in order to capture lucrative foreign investment contracts — than something that would actually happen in real life. But the indications as of this afternoon are that the board appointments actually happened, and that a Ukrainian energy company has retained the counsel of the vice president’s son and the Secretary of State’s close family friend and top campaign bundler.

Michael Hudson reports in a Real News Network interview that the commercial and geopolitical logic behind the Biden role, and the bigger US and World Bank/IMF program, is to push fracking onto a decidedly unreceptive population in eastern Ukraine.

Ilargi: Say Bye to the Bubble

Yves here. Only with the fullness of time will we know whether Ilargi’s “the end is nigh” headline will have coincided with the crack that signaled the sell-by date of the officialdom-induced post crisis rally. But Ilargi makes more interesting points than simply, as many done, point out that the bubble party has to end and the unwind is not likely to be pretty.

More Signs of Doubt in Europe About the Costs of Siding With Ukraine

This week, the US hopes to get the EU to agree to impose so-called tier three sanctions on Russia to punish them for their alleged role in the downing of MH17 and for supporting the rebels in Ukraine. That would include prohibiting investment in Russian equity and debt of Russian banks more than 90 days maturity by European citizens as well as barring EU banks from sourcing funding for them on a regulated market.

Should Markets Be Discounting Conflict?

Oil is at $100 owing to its peak production, not Ukraine, and ISIS presents the real risk.

U.S. Officials: MH17 Missile May Have Been Launched By a “Defector from The Ukrainian Military Who Was Trained To Use Similar Missile Systems”

Yves here. I wanted to add this short post as an indicator of the lack of definitive knowledge (at least among those who are being candid with the media) as to critical details as to how the MH17 was destroyed, in particular ones that would give a definitive reading as to what group pulled the […]

Ukraine Open Thread (and Links)

In theory, I should post about Ukraine, but in practice, the news is thick on speculation and thin on evidence. And the rush to assign blame before all the facts are in*, particularly now that the black boxes from the downed Malaysian Airlines are in the hands of the Malaysian government, is particularly troubling. It’s well documented in research on cognitive biases that once most people have formed a point of view about something, they remain committed to it even in the face of new information. This is why people who recall all too well the full-bore propagandizing before the war in Iraq are so suspicious of the aggressive effort by US officials to pin the destruction of the passenger jet on Putin. This episode feels way too familiar, in a very bad way.

The Mystery of Flight MH17: Motives, Missiles, Flight Plans, and the Media

First, there’s just no getting around the fact that the United States government — or, as we like to call it, “our” government — just… just… Well, there’s really no nice way to say it: They just make sh*t up.

Michael Hudson and Leo Panitch on BRICS Development Bank Salvo v. the Dollar

Yves here. I’ve refrained from saying much about the announcement of the plan to establish a $100 billion development bank by the BRICs nations (Brazil, Russia, India, and China) because the hype is ahead of the reality. Yes, it is true that the US has been abusing its role as steward of the reserve currency. QE has been a huge bone of contention in all emerging markets, since hot money has flooded in, while the Fed has, in an insult to the collective intelligence of the leaders of these countries, tried claiming that it has nothing to do with the influx. And they are bracing themselves for the tidal retreat when the Fed starts tightening. The US’ efforts to use sanctions to punish Russia have also focused the minds of these countries.

However, the formation of a development banks falls vastly short of the infrastructure needed for any country’s currency (or a basket of currencies) to displace the dollar.

A Nation on the Brink: How America’s Policies Sealed Iraq’s Fate

Yves here. I’m publishing this piece on Iraq not just on its own merits, but as a vehicle for discussing America’s ever-more destructive foreign policies. I was disheartened by the events of yesterday. It wasn’t simply the tragedy of the Malaysian Airlines plane crash and the almost certain intensification of the Ukraine conflict, and the escalation in Gaza. It was also the speed with which some of the leftie hawks who’d eagerly called for the invasion of Iraq were quick to demonize Putin.

Michael Hudson: EU Association Agreement with Ukraine Is a Gift to Kleptocrats

This video is a great, accessible discussion by Michael Hudson on the Real News Network about how the widely-touted EU deal with the Ukraine is actually an exercise in looting by kleptocrats. Hudson explains that unlike earlier pacts, the EU is making no investment in Ukraine, nor is it allowing Ukraine, which has an agricultural producing region, to have the benefits of the CAP that French farmers enjoy. Hudson point out that the supposed benefit of Ukraine having access to the EU for exports is a smokescreen, since Ukraine is going to lose its main export market, Russia, and the Europeans don’t want to buy Ukraine’s products. Hudson contends that this deal is a de facto takeover, with kleptocrats to be installed in key governmental positions. He anticipates that the result will be mass unemployment and unrest.

Russia Cuts Off Gas Supplies to the Ukraine

the Russian move to stop supplying gas to the Ukraine unless it pays upfront is an important, if expected, development, But how is this standoff likely to play out?

Russian Companies Plan to Denominate More Trade in Renminbi

Russian companies are mounting a challenge to the dollar by seeking to arrange trade transactions in other currencies. But how serious a threat is it?

Ukraine: The Real Energy Crisis Starts in June

The West needs to curb its enthusiasm over the recent elections in the Ukraine. Gazprom is tightening the energy screws next week.