Welcome to Saturday's Potluck - 12-18-2021

“Learn the rules like a pro, so you can break them like an artist.”
Pablo Picasso

Shh - it's secret

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England's monetary system of control has continued to persist after occupying forces exited its colonies. Quietly in a bubble of secrecy created and protected by legal contracts wealth extraction continues by international corporations, governing elites, illegal activities and wealthy individuals. It is speculated up to 50% of the world's wealth is in Tax havens.

(thanks ggerish)

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American's we are not so subtle. Economic sanctions are one of the tools of diplomacy to control a country. If that doesn't work the military can be sent anywhere in the world. If an Allie it might start with military advisors and expand to a full base. If not a friend - obey or be bombed. If you are too powerful, we will just destabilize a neighbor or support an opposition group.

Putin and Xi plot their SWIFT escape

Profiting from a strategic blunder

Once again, an American strategic blunder offers the Russia-China self-described “comprehensive strategic partnership” the chance to advance their coordination.

Ushakov put it very diplomatically: it’s time to bypass a SWIFT mechanism “influenced by third countries” to form “an independent financial structure.”

That amounts to a serious game-changer for the entire Global South – as scores of nations yearn to be released from a de facto US dollar dictatorship, complete with recurring Fed quantitative easing circus packages.

Russia and China have been experimenting with their alternative payment systems for quite a while now: the Russian SPFS (System for Transfer of Financial Messages) and the Chinese CIPS (Cross Border Interbank Payment System).

It won’t be easy, as the most powerful Chinese banks are deep into SWIFT and have expressed their reservations about SPFS. Yet, they will have to inevitably integrate prior to the launch of the new mechanism, possibly in late 2022.

Once the most important Russian and Chinese banks – from Sberbank to the Bank of China – adopt the system, the path opens for other banks across Eurasia and the Global South to join in.

In the long run, SWIFT, prone to non-stop American political interference, will be increasingly marginalized, or restricted to Atlanticist latitudes.

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What is on your mind today? (Responses to Covid questions and dialog to be conducted at The Dose diary)

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Lookout's picture

A wet rainy morning here. No trade day, or as we say "the flea was washed away."

US blunders and foolish aggression make it plain the empire is falling. I've been speculating for awhile, China and Russia may develop a gold based currency and sink the USD in a manner that avoids an actual war.

Kind of weird to cheer on the collapse of your own economy, but this myopic quest for profit needs to be replaced with an economy that preserves the planet and promotes people. I can dream anyway.

Hope all is well on your homestead. I need to order next years seeds (I like to do so before new years). However, in general we're in good shape. I've got a big pile of wood chips to spread in the garden pathways which I hope to accomplish in the near term. There's always something to keep me busy and productive.

Y'all have a good day, and thanks for the OT!

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“Until justice rolls down like water and righteousness like a mighty stream.”

studentofearth's picture

@Lookout warm enough layers of clothes, hats, scarves and gloves will not be necessary. Going to try and get a few fence panels moved before the ground re-freezes mid-week.

China and Russia have been working on the financial options to minimize destabilization to their countries for a long time. One of those is controlled separation of the economies if necessary. Structure and experience using the process is currently happening. Scaling to full separation is the next step.

Western response to the separation is my concern. Both countries have limited typical Western interference of forcing a change in leadership by extending Xi and Putin's political term. Destabilizing bordering countries and Special Administrative Areas has not overwhelmed either government. Trade wars have hurt us more than either country. Covid a great scapegoat for any economic troubles. We have some fools who think a limited military action will show them who is boss.

This is a very old conflict of leaders in Eastern or Western Asian cultures to rule the world. At times using military, religion, governing principles to improve lives of citizens and immigrants, monetary policy and food resources to gain an advantage.

A couple of descriptions of east and west communication about halfway in time between Willem the Conqueror and Europe traveling west to reach China instead of the ancient eastern routes. Globalization is not a new issue.

1246

1287

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

Thanks for the OT. I will check out the video you posted this evening.

This is a full moon weekend. NASA has a nice summary:

The Maine Farmers' Almanac began publishing Native American names for full Moons in the 1930s. Over time these names have become widely known and used. According to this almanac, as the full Moon in December, this is called the Cold Moon due to the long, cold nights. Other names are the Frost Moon, for the frosts as winter nears, or the Winter Moon.

Check out their website for more pictures and information on the full moon sky this weekend.
https://solarsystem.nasa.gov/news/2111/full-moon-guide-december-2021-jan...

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studentofearth's picture

@randtntx easy to understand articles on wealth consolidation practices of American's aristocracy, professionals and financial elite. The attack on small business and wage earners economic and political power is from several directions.

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

zed2's picture

The story goes that we were so obsessed with being the "petrodollars" country that we invaded Iraq in order to head off a switch by Iraq to some other currency. As the story goes, the value of dollars is inflated a lot by our being the currency which energy debts are settled in. Also, votes in Opec are determined on amouts of oil or similar a country controls. This might explain why the US wants so badly to control oil-controlling nations, buy countries without oil seem to not be on our radar screen. Also, we are doing our best to attract all kinds of unsavory "hot money" with trade policy. As far as financial services, this may be why we cant have effective financial regulations (we went to great lengths to "standstill" new Fin Svcs regulations post 1998 in around 40 nations via the Understanding of Feb 26 with the WTO which was difficult and controversial for the US to obtain, which is explained in a G77.org publication by the now late (recently deceased) great explainer Chakravarthi Raghavan (The publisher of the SUNS Online newsletter.

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studentofearth's picture

@zed2 So many individual toil on our behalf without our knowing them during their lifetimes or remembering in established history.

Might find this an interesting read on Iraq. Iraq and the New Great Game written August 4, 2002.

Iraq nationalized its oil in 1972, taking complete control over its own selling and pricing of oil and over the use of oil revenues. Iraq’s invasion of Kuwait put an end to that.

The sanctions imposed after that and maintained to this day have had many effects. In addition to causing the death of over 500,000 children under the age of five (according to a UNICEF study), sanctions have partially broken Iraqi control of Iraq’s oil. Starting with a complete ban on oil sales, they were gradually modified so that now there are no restrictions on sales. Iraq cannot make its own decisions about oil exploration and investment, nor until recently about repair of existing oil production facilities. Most important, all revenues from oil sales are deposited in a bank account in New York administered by the Security Council. Money is disbursed from that account, only with the permission of the United States, and almost exclusively to foreign corporations.

The sanctions have turned the Iraqi regime permanently against the United States. If they were lifted, the government would make oil exploration deals with French and Russian companies, not American ones. Continuation of the sanctions is a constant political burden for the United States. The Bush administration wants a war to extricate itself from this stalemate, by replacing Saddam with a dictator who will make deals with American companies and follow American dictates.

A country or territory and its citizens becomes disposable when no longer benefiting a colonial type Empire it has aligned itself. Most if not all potential flashpoints for conflict will be treated similar to Iraq if war breaks out.

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

enhydra lutris's picture

swift demise of SWIFT, and I do, but more than one plan and/or proposal to end the tyranny of the dollar has gone nowhere.

The rains have stopped for the weekend, but it was down to 34 this morning, which is not much better. Sitting bundled up inside watching the birds through the windows.

Ah well, be well and have a good one

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That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --

studentofearth's picture

@enhydra lutris the sanctions our government and Europe want to implement over NORD2 and Ukraine, including excluding Russia from SWIFT. Russia may not have a choice in abandoning the system. The cooperation of China might minimize the harm to average Russian citizens. It wont be beneficial to America's economy and average citizen.

Temperature is so relative to current experience. First cold days of fall a 34 degree day I want to bundle up every time stepping out of the house. By March exit with no coat celebrating the warmth. Be well, don't get too cold refreshing the bird feeder.

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

zed2's picture

, has gold toilet and bathroom fixtures.

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free to speak his mind. And I am enjoying it.

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studentofearth's picture

@humphrey the power structure of the Democratic Party.

Individuals like Lee J. Carter are more like window dressing to improve the image for rounding up voters for key elections then discarded as fashions change.

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

@studentofearth lacking.

I followed his career for a few years and he had little or nothing to do with the democratic establishment. He maintained his progressive socialist principals with little support from the party and that is why I liked him and he now is not going quietly. LOL

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lotlizard's picture

@humphrey  
I wonder how many Japanese are aware of what a sleazeball Rahm Emanuel is.

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studentofearth's picture

@humphrey actions during the 1930's and 1940's regarding autocratic governments and fascism.

UN Nazi vote.jpg

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

zed2's picture

All they can from the indigenous (working people) like the British did in Africa and India in the last century. This country is the rich's property and we and all that can be extracted are theirs. (the wealthy's) Can't people recognize this in the way these people are treating all of us. They bought the country and its politicians, fair and square.

Be out by the end of the month, America!

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studentofearth's picture

@zed2 out of where?

Be out by the end of the month, America!

Most of American's citizens or their ancestors have come from other parts of the world. Timeline for immigration could be a few weeks to centuries by some ancestors choice or unavoidable circumstances. Some still interfere in the governments of originating country hoping for change. Others are simply doing the best they can in America to live a fulfilling life.

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Still yourself, deep water can absorb many disturbances with minimal reaction.
--When the opening appears release yourself.

zed2's picture

They are addicted to the theft of the nation. Its like drugs.

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zed2's picture

these imperial types are.

No, the new owners want the tenants out. The essence of (ownership) is the freedom to exclude others from something.

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zed2's picture

Sorry, I don't know what it is.

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lotlizard's picture

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zed2's picture

September 15-20 1986. Where some kind of deal was struck between the oligarchs of South and North. What the deal was exactly, I only have an idea of but it was a very dirty one I am sure, because I know what oligarchs were so worried about back then and that was anything that reminded them of Communism because they were "special" radiate entitlement in the way that sems to be particularly strongly raiated by some British, Indian and European elites.

Really evil elites, who insist that they are superior to the rest of us and this supeiority they claim gives them a right to take whatever they want.

REad the history of the colonial era. They hated the US for revolting from the UK and exposing them for what they really were, but then we forgot it, and now we're letting the whole imperial bullshit come back. With incredible stupidity.

There is a whole history of UK-Nazi interactions too.

Both groups claimed to be superior, a "master race"

They didnt gve up the British Empire voluntarily, similar to the NHS, which basically they fely was forced on them. Its all a very sordid story. The british welcomed resistance which they parlayed into genocides that, when done with Hunger, Maxim guuns, warfare and disease killed huge numbers of people. Literally Millions. Deliberately.

As late as the 1950s and 60s the British had taken over dozens of countries all around the world and were engaged in quite reprehensible, and tremendously dishonest activities. Genocide, even. Its clear now, and there is no excuse for it.

The self-styled aristocrats - from British colonies were as bad as they themselves, they had found their calling betraying their own people FOR and to the greedy Brits. Being rich is everything to them. More important than anything else. wanted to continue to be treated in a special manner that respected their wealth and superior "rights".

They have deified Adam Smith in a way he never would have wanted.

*cough*

Read these books:

Imperial Reckoning, Britain's Gulag Caroline Elkins

Churchill's Secret War, The British Empire and the Ravaging of India during WWII by Madhusree Mukerjee

Mau Mau, an African cruicible, Edgerton

Histories of the Hanged, Anderson

Neoliberalism is the moern version of British imperialism, and its goal is the same, shameless theft from entire nations of everything that can be stolen from them.

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hitch in the get-along on international trade and the petro dollar.
At least, one can hope.
Thanks for the interesting topic.
I managed to squeeze in 8 days of holiday travel. Nothing spectacular, since the days of world travel have been ended for me, at least for now. Amarillo, Palo Duro Canyon, then off to Oklahoma for a stay at a resort on Lake Texoma.
I hope everyone has some plan for some holiday cheer next week.

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lotlizard's picture

@on the cusp

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mimi's picture

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mimi

@lotlizard Lake Texoma for a layover stay along the long drive home. I love him and his imagination!
I also enjoy having him do all the packing and loading and unloading luggage! Lol!
Do something fun and imaginative for your holidays, Lot.

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