re posted from THE NAKED HEDGIE
And even while we are all encouraged to come together and hate on Russia and Vladimir Putin, that’s not where this crisis emanated from. Rather, it emanated from the fraudulent monetary system that’s largely shaped our rules-based global order and which has had an impressive track record of incentivizing forever wars and generating chronic crises.
Recessions, debt, energy crisis, inflation and wars… somehow it is all related, and it is related at a global level, impacting nearly all economies and markets. It all seems to be going rather badly for the “rules based global order,” or as some prefer to call it, “the empire of lies.”
Shock, after shock, after shock…
Last week, on Oct. 6, Kristalina Georgieva, IMF’s Managing Director gave a speech at the Georgetown University in Washington where she explained that the global economy, which was expected to recover strongly after the Covid 19 pandemic, experienced a “shock, after shock, after shock” instead, that it is now experiencing a “fundamental shift,” and that this shift could create a “dangerous new normal.” Georgieva thinks this can only be mitigated by “countries working together.”
We’re winning in Ukraine! Or maybe we’re not.
Part of the problem is the “senseless war” in Ukraine. For weeks now, as the groupthink went, the war has turned in the west’s favor and Ukraine has been winning. Nobody even bothers pretending any more that this war is between Russia and Ukraine: it is now overtly discussed as the war between Russia and the collective west. NATO’s Secretary General Jens Stoltenberg made this plain in yesterday’s press conference: “If Putin wins, that is not only a big defeat for the Ukrainians, but it will be the defeat, and dangerous, for all of us.” But not to worry, said Stoltenberg, “Ukraine has the momentum,” and “President Putin is failing in Ukraine.”
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