When we last met Sergei Glazyev, Vladimir Putin's chief 'integration' adviser (who has been regularly featured on these pages in the past (see Putin Adviser Threatens With Dumping US Treasurys, Abandoning Dollar If US Proceeds With Sanctions and Putin Adviser Proposes "Anti-Dollar Alliance" To Halt US Aggression Abroad for two examples) he explained "how the U.S. military and oligarchs are trying to maintain leadership in the global competition with China."
Arguably the best informed man in Russia, his perspective seems important to grasp as he considers:
"The world today is going through a year of overlapping cyclical crises. This is a period when the global economy is changing as the structure that has driven economic growth for 30 years has exhausted itself. The world needs to transition to a new system and transition has always come about through war...
The last elections to the European Parliament showed that all European citizens are not fooled by the fals pro-American, anti-Russian propaganda... and by the constant stream of lies.
In order to avoid the constant threat of foreign asset confiscation, we need to build our own sovereign monetray macro-economic policy."
Full must-watch dialogue below:
As Glazyev concluded previously:
To further insulate its economy, Russia should abandon the use of the U.S. dollar as a reserve currency, according to Glazyev. Russia, which international reserves are the world’s fifth-biggest, needs to diversify its holdings to include China’s yuan, India’s rupee and Brazil’s real. “If a country aspires to reserve status for its currency, it should behave properly, and that isn’t the case today,” Glazyev said.
And this is how Putin sees the world. De-escalation? Good luck.