In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘End of empire’

China-Russia currency agreement further threatens U.S. dollar

Posted by seumasach on November 26, 2010

International Business Times

24th november, 2010

China and Russia have agreed to allow their currencies to trade against each other in spot inter-bank markets.

The motive is to “promote the bilateral trade between China and Russia, facilitate the cross-border trade settlement of [the yuan], and meet the needs of economic entities to reduce the conversion cost,” according to Chinese officials

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China, Russia quit dollar on bilateral trade

Posted by seumasach on November 26, 2010

People’s Daily

24th november, 2010

China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday in St. Petersburg.

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Russia and NATO: cooperation or confrontation?

Posted by seumasach on November 25, 2010

A senior Russian diplomat told Kommersant, “Yes, we will defend countries to the west of Russia. Equally, NATO must commit to the same responsibilities — any missiles that fly against us over Europe, they must all be shot down by American or NATO forces.”

Who would fire missiles across Europe against the Russians, I wonder? This a complex game but it all makes sense. You can’t just leave NATO any more than you can leave the mafia. Through NATO, Russia intends to draw Europe towards itself and provide the conditions for Europe to end its vassalage to the US.

“Even at its most Atlantist, Russia is establishing a new configuration without the Ango-American empire at the centre.”

No, it is “Atlanticist” in order to establish a new configuration without the Ango-American empire at the centre.

Eric Walberg

Global Research

25th November, 2010

Medvedev’s presence in Lisbon was more a show of Russia’s importance than of subservience to the Euro-Atlantic alliance

The results of the NATO summit were as predictable as a Soviet Communist Party congress, with the word “peace” replaced by “war”. NATO’s embrace of the US agenda of missile defence, nuclear arms, and its new role as global policeman surprised no one. No word about the United Nations or peacekeeping. In deference to Russia, the only mention of eastern expansion was continued “partnerships” with former Soviet republics Ukraine and Georgia. Indonesia, Malaysia, Australia, New Zealand and Japan were also offered special status. The new Strategic Doctrine, replacing the more modest Euro-centric 1999 model, really just reaffirmed US control of the foreign policy of what Zbigniew Brzezinski called its “vassal states”.

There were a few ripples. France’s new defense minister, Alain Juppe, openly said the Afghan conflict was a “trap” for NATO and called for an exit strategy, unlike Head of the British Armed Forces Sir David Richards, who opined, “NATO now needs to plan for a 30 or 40 year role.” The Euro-spat continues over the continued presence of nuclear weapons in Europe, between France, which prides itself on its force de frappe, and Germany, which was denied any such private nuclear toys during the Cold War.

But they agreed to disagree and the summit was all smiles and photo ops, at least centre-stage. On the sidelines, Russian President Dmitri Medvedev told a warm United States President Obama Barack that he was ready tocooperate on missile defence but only in “a full-fledged strategic partnership between Russia and NATO”, and Afghanistan’s President Hamid Karzai told a frosty Obama that he should scale back military operations and night raids that inflict heavy civilian casualties.

Through NATO’s integration into the Pentagon’s world command structure, it can be said that now, officially, the US rules the world. NATO has its Istanbul Initiative, attempting to militarise the Mediterranean Dialogue and Gulf Cooperation Councils covering the entire Middle East, including Israel. Even in Africa, only Eritrea, Libya, Sudan and Zimbabwe do not (yet) have relations with USAFRICOM. But then, NATO’s two major “out of area” police roles — Kosovo and Afghanistan — are not encouraging signs, nor are the Pentagon’s efforts in Iraq. The bigger NATO gets, and the more far-flung the US military, the more unwieldy and expensive both become. How do Malaysian soldiers in Afghanistan converse with Albanians? As Muslims, they may know their prayers in Arabic, but only by rote. And can they be trusted to kill their Afghan brothers?

What Russian strategists really think of NATO’s “new” doctrine is difficult to tell. The professed preference for closer relations with the West by Atlantist Medvedev and the Russian elites he represents differ markedly from his predecessor Putin’s. Despite Medvedev’s assurances, his appearance at the NATO conference did little to dissipate the confusion about relations with NATO. His offer of a joint missile defence network is not the one that the US has in mind. He told the gathering that Russia won’t join NATO missile defence as “piece of furniture”. A senior Russian diplomat told Kommersant, “Yes, we will defend countries to the west of Russia. Equally, NATO must commit to the same responsibilities — any missiles that fly against us over Europe, they must all be shot down by American or NATO forces.”

Despite Russia’s apparent weakness, it still casts the biggest shadow over the alliance. There are signs of meaningful cooperation in the Russia-NATO Council Action Plan as described by Russian Foreign Minister Sergei Lavrov. Russia’s Black Sea Fleet is taking part in NATO’s antiterrorist Operation Active Endeavour in the Mediterranean Sea and fighting against piracy off the coast of Somalia. Rather than a will-o-the-wisp missile defence, he emphasised the joint radar system near completion along Russia’s western borders “to prevent seizures of aircraft by terrorists” and the ongoing assistance “during floods, fires and man-made disasters”.

But Lavrov said there are “international problems on which we do not see eye to eye”, that in any missile defence system there must be “no actions that may adversely affect the legitimate interests of each other”. He was more concerned about reducing conventional forces in Europe and “a systemic discussion about military restraint”. NATO “must be guided by the UN Charter, especially in regard to the possible use of force in international relation, and by international law”. Meaning, of course, that at present NATO policies adversely affect Russia, and NATO and the US are operating outside of international law.

Quite possibly more significant than the hot air emitted in Lisbon was the tete-a-tete between Medvedev, French President Nicolas Sarkozy and Germany Chancellor Angela Merkel a month earlier on 18-19 October at their own mini-summit in Deauville, calling on the EU to launch a “modernisation partnership” with Russia, establishing an economic space with “common security concepts”, including visa-free travel and cooperation on European security. The United States was pointedly not mentioned though the security issues involved “the Euro-Atlantic and Eurasian zones”, a half-step towards Medvedev’s proposal for a new European Security Treaty in 2008.

Despite the professed devotion of the French and German leaders to the US and the war in Afghanistan, this clear outreach to Russia by the EU’s most important members is an expression of the geopolitical logic at work as the US flounders and Russia matures into an unavoidable and increasingly desirable Eurasian partner. It is Russia that provides Europe with access to a large market and source of raw materials — a peaceful gateway to the entire continent. This contrasts with the US/NATO forced march from Eurasia’s underbelly, creating enemies from the Middle East through Iran to China. Spoiler Britain was pointedly left out of the Deauville summit. Even at its most Atlantist, Russia is establishing a new configuration without the Ango-American empire at the centre.

Both the power struggle among Russia’s political elite and the developing facts-on-the-ground in Afghanistan and Washington, where START is probably not going to be ratified by the Senate, will determine just how US-Euro-Russian relations fare, and whether calls for Putin to run for president in 2012 result in a return of Russian geopolitical strategy to the Eurasian path it was taking prior to Medvedev. Medvedev’s abrupt cancellation of the S-300 missile deal with Iran was not a popular one; it “undermines Russia’s prestige and erodes its security, making the world less safe for every one of us. At the moment, the Islamic world has reasons to believe that Moscow has switched to the camp of its foes,” warns former Russian Joint Chief of Staff member General Leonid Ivashov.

Turkish Foreign Minister Ahmet Davutoglu, taking a leaf from both Lavrov and Ivashov, insisted at the summit that any missile defence shield should protect NATO members from real threats, which translates into Turkish as “protecting NATO members from Israel, not Iran”. He called for a nuclear weapons-free zone ranging from Iran to Israel. Davutoglu might have felt more comfortable outside the summit with members of the “No to War – No to NATO” alliance, who continued their tradition of using NATO summits as platforms of protest against war and militarism. They installed a Square of Peace and held a counter summit and International Anti-war Assembly, suggesting their own Strategic Doctrine for NATO — euthanasia.

Eric Walberg writes for Al-Ahram Weekly http://weekly.ahram.org.eg/ You can reach him athttp://ericwalberg.com/

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Ideological and hostile- Commentary and weekly watch by Doug Noland

Posted by seumasach on November 23, 2010

“I find it embarrassing – to blame our trade partners and creditors for our predicament. Worse yet, it is frightening that there is obviously no plan of attack for dealing with the structural issues of the US. The Geithner/Bernanke “global rebalancing” gimmick is to have China and the “developing” economies inflate domestic demand and stimulate imports. In the meantime, we stay the course with massive deficits, monetization and near-zero interest rates. This approach has no chance of rectifying the country’s deep structural impairment nor resolving global imbalances. It does, however, increase the odds of a crisis of confidence in the US debt markets and currency.”

Doug Noland

Asia Times

23rd November, 2010

Click on above link for full bulletin

With eurozone tensions on the rise, Wednesday’s headline from the Financial Times read “Anger at Germany boils over”. “Bernanke Fires Back, Takes Aim at China,” was how the Wall Street Journal titled its analysis of the Federal Reserve chairman’s speech on Friday morning in Frankfurt. Paul Krugman also takes direct aim at Germany and China – and throws in the Republicans – with his “Axis of Depression” piece in Friday’s New York Times. In a troubled backdrop beckoning for level-headed analysis and cooperation, the mood has turned decidedly ideological and hostile.

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Have (infinite) war, will travel

Posted by seumasach on November 17, 2010

Pepe Escobar

Asia Times

18th November, 2010

Anyone aware enough to think that Washington’s goal is not to “win” the unwinnable AfPak quagmire but to keep playing its bloody infinite war game forever is now eligible for a personal stimulus package (in gold).

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Word up, G-20?

Posted by seumasach on November 12, 2010

Pepe Escobar

Asia Times

13th November, 2010

It certainly beats any dreary Group of 20 (G-20) communique. Everything one needs to know about the US Federal Reserve’s quantitative easing (QE), currency wars and the mudslinging tsunami that passes for the current global financial system can be found at this animated rap video by Taiwan-based Next Media Animation (see the video here)

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Phantom jobs

Posted by seumasach on November 11, 2010

“The American working class has been destroyed. The American middle class is in its final stages of destruction. Soon the bottom rungs of the rich themselves will be destroyed.”

Paul Craig Roberts

The Intel Hub

10th November, 2010

If we cannot trust what the government tells us about weapons of mass destruction, terrorist events, and the reasons for its wars and bailouts, can we trust the government’s statement last Friday that the US economy gained 151,000 payroll jobs during October?

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Asia trip: Obama sticks to failed foreign policy

Posted by seumasach on November 11, 2010

William Pfaff

antiwar.com

11th November, 2010

PARIS – Historically minded observers might have noted a resemblance between President Barack Obama and the First Lady’s journey in Asia to the royal passage, receiving the fealty of lesser potentates, that led to the Great Durbar in Delhi in 1911 (call it the G-1911?) at which Britain’s King George V and Queen Mary were crowned King-Emperor and Queen-Empress of India. The historically minded observer would also know that just 36 years later India was partitioned, and the British Empire was finished.

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Oppose a new bailout!

Posted by seumasach on November 7, 2010

The moment of truth is drawing near:another bailout will be required both in US and UK. This is the moment to stand and fight: we cannot go along with another bailout. There is a clear alternative: put the banks through bankruptcy! This is the only sensible solution as well as a great moment of revolutionary change. It would mark end of the system put in place with the establishment of the Bank of England in 1694 and the Federal Reserve in 1913. It would mark the end of the rule of finance and the epoch of perpetual war, colonialism and destruction. It would be the end of empire and the beginning of a world community of sovereign nation states. It would mark the refoundation or transformation of global institutions such as the UN. and the potential for a new direction for humanity.

Bank of America Closer to Tipping Point

Jonathan Weil

Bloomberg

3rd November, 2010

It was only last April that Bank of America Corp. was making fools out of the doomsayers who had called for its nationalization a year earlier. Taxpayers had gotten their bailout cash back. Investors who bought its shares at the bottom were making a killing. Government leaders lauded the company’s rescues, both of them, as a great success.

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QE2 risks currency wars and the end of dollar hegemony

Posted by seumasach on November 2, 2010

“It is becoming harder to mop up the liquidity flowing into these countries,” said Neil Mellor, of the Bank of New York Mellon. “We fully expect more central banks to impose capital controls over the next couple of months. That is the world we live in,” he said. Globalisation is unravelling before our eyes.

Globalisation Anglo-Saxon style, that is: a benign counter-globalisation, multipolar, is coming more and more to the fore. That said, this is an excellent article by Evans-Pritchard: it seems that, in Britain, some on the right are much closer to reality than those on the left, who are simply nowhere.

Ambrose Evans-Pritchard

Telegraph

2nd November

 

The Fed’s “QE2” risks accelerating the demise of the dollar-based currency system, perhaps leading to an unstable tripod with the euro and yuan, or a hybrid gold standard, or a multi-metal “bancor” along lines proposed by John Maynard Keynes in the 1940s.

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‘Bolivia will defeat imperialism soon’

Posted by seumasach on October 27, 2010

27th October, 2010
Bolivian President Evo Morales says his country will eradicate imperialism in South American region soon with the assistance of revolutionary countries.

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