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Easter egg surprise – Ukraine: the straw that breaks the dollar’s back? PART I

Easter egg surprise – Ukraine: the straw that breaks the dollar’s back? PART I

The U.S. is the No. 1 warmonger on earth. You can look at the record: ever since the United Nations was formed after the Second World War, the United States has almost constantly been at war somewhere. There are about 30 countries where we have initiated armed conflict.

Jimmy Carter, 39th president of the United States (1977-1981)

Amid signs of another asset bubble, and as memories of the last crisis fade, we might be seeing the beginnings of the next crash

Larry Elliott, Guardian, 13 April 2014

It is not hard to spot the cyclic nature of recent bubble bursting. Every 7 to 10 years a big financial bubble bursts: early 1990s, 2000, 2007.

We are about due and, this time, it will be a huge one.

Rentier, social darwinist, survival-of-the-fittest capitalism (a toxic mutation of capitalism which is slavery by other means) is plainly dysfunctional, unsustainable and, in the long run, catastrophically unstable, because it thrives on instability, fear and uncertainty, because it is about greed and waste, and because people who produce nothing are asking for ever more goods, services and entitlements, whereas people who produce, earn less, get to consume little and progressively lose their rights.

It is 1789 all over again and a host of Gekkos and Madoffs are out of control, incapable of changing and to cope with change (i.e. abolitionism).

The ongoing financial world war is being played out in Ukraine and it is astonishing how most European governments are going along – passively or enthusiastically – with a strategy that could well involve a third European war. Only Germany is showing restraint and a modicum of wisdom. Three former chancellors – Helmut Schmidt, Helmut Kohl, and Gerhard Schroeder – have sharply criticized Washington and Bruxelles on the treatment of Putin and Russia and most Germans “want their country to maintain equal distance between Russia and the West and act as a mediator”.

Meanwhile, the BRICS countries are signing bilateral agreements (even barter deals) which by-pass the US dollar, they are trading dollars for gold coming from Western vaults, and setting up their own development bank, as an alternative to the International Monetary Fund and the World Bank.

As a result, a multi-polar world is taking shape and, outside of the “Western world”, the value of the US dollar is falling, as few nations are willing to hold onto depreciating stockpiles of dollars to deferentially finance American deficit spending, at their expense (via inflation).

NATO aggressiveness and Anglo-American quantitative easing policies have only made a bad situation worse.

So, now is the time to ask the hard question: is Ukraine going to be the straw that breaks the dollar’s back?


Let us revise the events leading up to the latest confrontation between pro-Russian and pro-NATO forces in Eastern and Southern Ukraine:

1. A corrupt Ukrainian president has democratically defeated his equally corrupt opponents;

2. He has refused to sign a very unsatisfactory agreement which would have turned Ukraine into a EU protectorate with nothing in return;

3. The EU has rejected a Russian proposal to exempt Ukraine from having to choose between Russia and EU;

4. After a deadly clash between protestors (energized by Western leaders and led by foreign veterans) and anti-riot forces, the government and the opposition had reached an agreement;

5. A few hours later the mob overthrows the government. A new interim government is established without a constitutional majority and without the approval of the supreme court (even Radio Free Europe doubts its legitimacy);

6. USA & EU endorsement of mob rule implicitly authorizes pro-Russian crowds to do the same in Crimea and other mostly Russian-speaking districts;

7. Germany looks increasingly unhappy with the way this crisis is being handled and is clearly hostile to all attempts to drive a wedge between the EU and Russia. Merkel is furious about NSA surveillance, and rightly so;

8. CIA director John Brennan has made an unannounced visit to Kiev, on false documents, prior to the issuing of an ultimatum to the rioters in Eastern Ukraine (a carbon copy of what happened in Kiev);

9. BRICS nations are siding with Russia on this dispute. These countries are too big to sanction and, after the disastrous campaigns in Iraq, Afghanistan and Libya, Washington’s and London’s threats are perceived as a paper tiger: bluffs and blusters;

10. the interim government has signed a EU/IMF deal which cuts pensions and civil servants salaries, increases gas prices, and opens up the Ukrainian market to western corporative interests: austerity in a nation on the verge of civil war borders on suicidal (and criminal) and it is what brought Yugoslavia towards dissolution and civil war (Forbes, Washington’s Man Yatsenyuk Setting Ukraine Up For Ruin);

11. The interim government refuses to even consider the Finland-like option (put forward by Kissinger, Brzezinski and the Russian leadership) of a neutral, federal Ukraine. This could well imply that the new Ukrainian establishment is not interested in getting to elections and in a political/diplomatic solution to this crisis;

12. Few Americans can identify where Ukraine is on the map: the more ignorant, the more in favour of a military intervention. And, speaking of “false flag” operations, Arseny Yatsenyuk himself has some problems with geography.


About stefano fait

Social forecaster/horizon scanner, entrepreneur, Arts and Culture reporter for "Trentino" & "Alto Adige", social media & community manager, professional translator, editor-in-chief of futurables.com, peer reviewer and contributor for Routledge, Palgrave Macmillan, University of British Columbia Press, IGI Global, Infobase Publishing, M.E. Sharpe, Congressional Quarterly Press, Greenwood Press. Laurea in Political Science – University of Bologna (2000). Ph.D. in Social Anthropology – University of St. Andrews (2004). Co-author of “Contro i miti etnici. Alla ricerca di un Alto Adige diverso” (2010)


  1. Nonostante fosse uno della Trilateral Commission, Carter doveva essere uno pericoloso agli occhi dell’élite, tant’è che l’hanno presto silurato, utilizzando la faccenda degli ostaggi iraniani.

  2. Cioè, la faccenda degli ostaggi statunitensi nella loro ambasciata in Iran, rilasciati dopo quasi due anni proprio il giorno dell’insediamento di Reagan.

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