BRICS is morphing into an anti-dollar alliance

On June 10th, Sergey Glaziev, Putin’s economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal would be to break the Washington’s money printing machine that is feeding its military-industrial complex and giving the US ample possibilities to spread chaos across the globe, fueling the civil wars in Libya, Iraq, Syria and Ukraine. Glaziev’s critics believe that such an alliance would be difficult to establish and that creating a non-dollar-based global financial system would be extremely challenging from a technical point of view. However, in her discussion with Vladimir Putin, the head of the Russian central bank unveiled an elegant technical solution for this problem and left a clear hint regarding the members of the anti-dollar alliance that is being created by the efforts of Moscow and Beijing: Continue reading

West pulls punches on sanctions for Russia over Crimea. EU whittles down list of targets

Both the US and European Union held back Monday, March 17, from harshly punishing Russia for going through with the Crimean referendum, which overwhelmingly approved union with Russia. The US imposed travel bans and froze the assets of seven top Russians and three Ukrainians, while the European foreign ministers in Brussels listed 21 mostly unnamed targets for those same sanctions for a period of six months.

President Barack Obama warned Moscow not to go any further but rather to engage in dialogue for resolving the Ukraine crisis diplomatically. Continue reading