- Published on Saturday, 17 January 2015 12:11
US/EU sanctions and economic warfare on Russia, in retaliation for "annexing" Crimea and being "responsible" for the downing of MH17, are impacting EU citizens far more than the average Russian.
Ben Aris on misperceptions of Russia in the Western media & state of economy - Max Keiser (13 minute podcast)
That the overwhelming majority of people in Crimea voted for Russian federation didn't seem to feature in the decision to impose sanctions, nor the inconvenient evidence showing that the US backed Ukrainian junta brought down MH17 with US/NATO connivance (at least in the cover up if not in the execution). The dramatic plunge in oil prices, initiated by the US and Saudi Arabia to bring pressure to bear on Russia and other unaligned producers such as Iran and Venezuela, has produced seemingly unintended consequences.
Plunging oil prices have done more to undermine fracking than opposition to its adverse health and environmental impact. If fracking operations were unprofitable at $90 per barrel, at $50 it's akin to pouring money into the ground. And let's not forget the dubious debt which has accumulated around the fracking industry - did someone say subprime crisis?
The EU is dependent on Russian gas - it doesn't pay to bite the hand that feeds you (particularly in winter).
Russia Cuts Off Ukraine Gas Supply To 6 European Countries By Tyler Durden
Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas.
Pushing Russia into a corner has prompted migration from the dollar as the world's reserve currency - the only reason the dollar has retained its value to date, in spite of all the money created by the Fed and the banks, is that hitherto, oil and many other commodities have been exclusively traded in dollars. Russia, China and India are reducing their trade in dollars which could precipitate its collapse.
Russia Just Pulled Itself Out Of The Petrodollar By Tyler Durden's
"Zero Hedge" - - Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote "How The Petrodollar Quietly Died, And Nobody Noticed", because for the first time in almost two decades, energy-exporting countries would pull their "petrodollars" out of world markets in 2015.
Meanwhile, Europe is suffering, with countries experiencing youth unemployment in excess of 50%. These geopolitical games, played on behalf of the ruling clique (RC), are betraying us all but the younger generation are at risk of permanent damage and degradation. Independent of state and empire, there are moves afoot to create an alternative, independent future for European youth.
We need alternatives, not just for the young but for everyone.