Friday, March 4, 2022

Shades of Chernobyl?


Friends, there was a lot of consternation yesterday about fighting around Europe's largest nuclear plant, but as it turned out the reactor buildings were never in the line of fire.  They now appear to be in Russian hands.


Senator Lindsey Graham recently made a public call for Russian insiders to assassinate President Putin.  Senator Cruz calls this an "exceptionally bad idea".  You can see his point: an assassination of Putin would plunge Russia into all kinds of uncertainty.  That would be the kind of scenario that could produce WWIII!  Plus, you should always be careful what you wish for: Russia's next leader could be worse!  I bet a lot of people thought, once upon a time: "Whew!  Thank heavens Lenin is dead.  The next guy has to be an upgrade, right?"  Not necessarily! 

The sharing of sensitive Westerh military intelligence with Ukrainian military forces is apparently taking place on a large scale, and it could be seen as a provocation or as an act of war by Russia.  I recommend that we tread carefully, although the chances that Russia would make the first move against us are slim to none, thankfully.  In a perverse way, thoiugh, we almost have to hope that Russia completes its conquest of Ukraine quickly, because if it runs into major problems then not only will Ukrainians suffer more, but the dangers of NATO-Russian conflict proliferate astronomically.


Finally, the Western seizure of Russia's sovereign assets, apparently unprecedented in post-WWII history, is a major step, and as this article suggests it will get the attention of the Chinese and of all current or future "rogue regimes".  Basically, the West reserves the right to run the international financial system according to its prejudices and agendas. Ergo, your property is only your property as long as the G7 says so.  The Chinese have to realize that, sooner or later, their trillions in dollar-denominated assets could be confiscated.  As the article points out, that gives them every reason to undermine the Western-dominated financial system and explore alternatives to it.  Can you say: backlash??? 

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