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Alasdair Macleod: Russia's intentions are clarifying
By Alasdair Macleod
Thursday, January 26, 2023
We have confirmation from the highest sources that Russia and the Shanghai Cooperation Organisation are considering using gold for pan-Asian trade settlements, fully replacing dollars and euros.
In an article written for Vedomosti, a Moscow-based Russian newspaper published on December 27, Sergey Glazyev, a prominent economic adviser to Russian President Vladimir Putin who is heading up the Eurasian Economic Union committee charged with devising a replacement for dollars in trade settlements, sent a very clear signal to that effect. It appears he will drop earlier plans to design a new commodity-linked trade currency because it has been superseded.
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Furthermore, increasing numbers of nations have joined or have applied to join the SCO as dialog members, including Saudi Arabia and other important Gulf Cooperation Organisation members. The economic benefits of discounted energy, China's investment capital, and sound money are the ingredients for a new, Asia-wide industrial revolution, while the economies of the Western alliance sink under rising prices, rising interest rates, collapsing financial markets, and collapsing currencies.
While it will mark the end of the road for the Western alliance and its fiat currencies, Putin must be careful not to take the blame. Now that the alliance is racking up tanks and other equipment for the Ukrainians, they are actively promoting a new battle, with NATO getting almost directly involved. It is that action that will drive up commodity prices, undermine Western financial markets, undermine government finances, and ultimately collapse their currencies.
Putin is likely to use NATO's impetuous action in defence of Ukraine as cover for securing Russia's future as an Asian superstate, which will be the West's undoing. ...
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