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Western Banks Cut Off Liquidity To Russian Entities

Tyler Durden's picture




 

As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because "western banks have stopped pricing USDRUB", over concerns of Russian capital controls. Ironically, it was this forced liquidation of mostly short RUB positions that pushed the RUB higher, which in turn had a briefly favorably impact on energy commodities and risk assets, as the market had by then perceived the Ruble selloff as excessive. Of course, since nothing had actually changed aside from a temporary market technical, the selloff promptly resumed into the close of trading once the market finally understood what we had explained hours previously.

And unfortunately for the bulls, various falling knife-catchers, and those who hope the Russian situation will stabilize imminently with or without capital controls, it appears things in Russia are about to get a whole lot worse because as the WSJ reports, the next driver of the Russian crisis is likely to come from within the banking system itself because "global banks are curtailing the flow of cash to Russian entities, a response to the ruble’s sharpest selloff since the 1998 financial crisis."

Presenting Russia's banks: now cut off from the outside world as the second cold war goes nuclear, at least when it comes to the financial system: 

Such banks as Goldman Sachs Group Inc. this week started rejecting requests from institutional clients to engage in certain ruble-denominated repurchase agreements and other transactions designed to raise cash, according to people familiar with the matter.

 

Bankers and traders say the moves to restrict some ruble transactions have become increasingly widespread among major Western financial institutions this week, even as the same institutions continue to try to profit from the ruble’s wild swings. The moves, which the banks are deploying to protect themselves against further swings in the currency, have the potential to add to the strain on Russia’s financial system.

 

Goldman in recent days largely stopped doing longer-term ruble-denominated repurchase agreements, or repos, in which securities or other assets are swapped in exchange for cash, said a person familiar with the matter. The Wall Street bank is still doing short-duration ruble repos, those that mature in less than a year, this person said.

And where Goldman goes, everyone else follows, even though according to the WSJ this has not happened, yet:

Other banks, including Bank of America Corp. and Citigroup Inc., haven’t changed their trading with Russia or in rubles, according to people familiar with those banks.

They will, it is only a matter of time. Meanwhile, the entire Russian capital market, and not just its currency, is becoming isolated from the rest of the Western world:

In one sign of the banking industry’s hasty retreat, the London-based manager of an emerging-markets hedge fund said Tuesday that he couldn’t get any banks to trade Russian government bonds with him.

Of course, anyone who read our article in early November explaining "How The Petrodollar Quietly Died, And Nobody Noticed", predicting the crunch in global intermarket liquidity as a result of the collapse in crude, would know this is coming. As for the death of the Petrodollar we warned about, a death which has resulted in the disintegration of market volume just as warned, suddenly everyone is noticing.

Regardless, what all of the above means is that Russia now has at best a few weeks in which to find an alternative source of short-term funding. One coming from the East.

The question is will Putin swallow his pride and proceed with the next logical step as the Eurasian axis realizes the time to abandon the dollar has long past, that now only actions matter and not words, and joins forces with China in a new monetary union, one which combines the Ruble and the Yuan, and is backed by China's gold and Russia's natural resources, as cheap as they may be for the time being... until one or more of the largest middle-east oil exporters experiences a major and "unexpected" geopoolitical incident, one which sends the price of oil soaring right back up.

 

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Tue, 12/16/2014 - 19:22 | 5560620 McMolotov
McMolotov's picture

Cutting off access to iShit is the last straw. How will Russians survive if they can't eat iPads?!?

To war!!!

Tue, 12/16/2014 - 21:01 | 5560995 Freddie
Freddie's picture

F Apple!   They don't pay any taxes and they love tax cheat Bono.

Wed, 12/17/2014 - 00:12 | 5561671 willwork4food
willwork4food's picture

As long as McDonald's is still there.  Oh, wait..

Tue, 12/16/2014 - 23:27 | 5561529 DaveyJones
DaveyJones's picture

we have to protect our "Jobs" 

Wed, 12/17/2014 - 09:05 | 5562289 Shropshire Lad
Shropshire Lad's picture

Yet more western export markets lost ....

Tue, 12/16/2014 - 19:15 | 5560594 noben
noben's picture

Vlad, Go Big or Go Home.

Time to up the ante with gold+platinum coins (20-40% backing) or oil+gas (100% backing), and not your paper Ruski fiat.  The world is TELLING you as much.

p.s. Fuck Beijing and what they want you to do in terms of Money.  They want to take their sweet time (while making side-deals with the US and Saudis), but they're just looking out for themselves and their Big Game, which you are part of.  Those fuckers in Beijing need to realize that, as Russia goes, so does China.  And the world won't wait for their Mandarin asses to forever play the Slow Game. 

In real life, as you probably know, things can and do happen really fast sometimes.  Both in human history (wars, crashes) and Natural history (Tsunamis, Earthquakes, Floods, Epidemics).

Tue, 12/16/2014 - 19:20 | 5560615 Philo Beddoe
Philo Beddoe's picture

Every good whore does not want the John to cum in his pants. Why?

 Slow and easy, baby, I am not going anywhere.  The Chinese are like the Trex in Jurassic park and the West is driving a moped with big fucking rearview mirrors. 

Tue, 12/16/2014 - 19:25 | 5560630 Winston Churchill
Winston Churchill's picture

Patience.

I've been saying for months the MOVE ,whatever it is, will come between Xmas and

the New Year.Guaranteeing the maximum effect and disruption to the western system.

And don't think the Chinese are not in on it.It will be a concerted effort..

I think Uncle Scam has got wind of something,but don't know what it is exactly.

This is a planned perfect storm, however chaotic it appears.

Tue, 12/16/2014 - 19:27 | 5560647 Philo Beddoe
Philo Beddoe's picture

The Chinese are in control.  They are out of the Dry Cleaning business for good.  Uncle Sam can take his cum stained prom dress to the Korean guy across the street. 

Tue, 12/16/2014 - 19:44 | 5560707 McMolotov
McMolotov's picture

No tickee, no washee, bitchez!

Tue, 12/16/2014 - 21:53 | 5561006 Freddie
Freddie's picture

http://www.liveleak.com/view?i=b5f_1418776628

German politician tells Angela Merkel she is a supporter of murderous Nazis  

She lays it all on the line and lets Merkel know she's a vassal of the US and that she is supporting Nazis in Ukraine while hurting Germanys biggest trading partner and she receives lots of applause for it. Apologies for only being able to find a French version.


Dang - I might hit that.    Germany must be freaking out. German businesses must be enraged.
The USSA aka illegal alien Soros land of serfs and retards lost Germany. Once Merkel is pushed out - Germany will pivot to Russia.
Tue, 12/16/2014 - 21:58 | 5561195 Amerikan Patriot
Amerikan Patriot's picture

"Keep stackin', bitchez!"

The empty head of a Zero Hedger is something to behold....

 

Tue, 12/16/2014 - 22:51 | 5561399 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

The empty head of a Zero Hedger is something to behold....

...said Amerikan Patriot as he gazed into the mirror.

Wed, 12/17/2014 - 03:02 | 5561947 Spanky
Spanky's picture

All done with MSM "facts" and "analysis" Amerikan Patriot? And where, exactly, is the last refuge of a scoundrel?

Tue, 12/16/2014 - 19:45 | 5560718 Amish Hacker
Amish Hacker's picture

Good thing those new circuit-breaking "collars" are already in place in the commodity futures markets.

Tue, 12/16/2014 - 21:05 | 5561004 Quus Ant
Quus Ant's picture

Bar the theatre exits before screaming, "FIRE!"

Whi?  For the lulz, of course.

Tue, 12/16/2014 - 19:53 | 5560742 dsty
dsty's picture

i think you are right also

they know something is coming

that is why the hard push

like trying to stop a truck from rolling down hill

be ready

Tue, 12/16/2014 - 21:14 | 5561031 Freddie
Freddie's picture

http://www.liveleak.com/view?i=120_1418746415

Swiss Trade Newspaper: Russian Currency Reserves Much Higher Than Expected
"According to calculations (September 2014) by the BND the currency reserves of Moscow would have been approximately 22'622 billion rubles (619 billion $)." "Old calculations: 454.7 billion $."
http://www.handelszeitung.ch/konjunktur/russland-koennte-sanktionen-jahr...
Tue, 12/16/2014 - 23:07 | 5561444 TVP
TVP's picture

And right about the time that happens, there will be a false flag on American movie theatres to distract everyone.  

Wed, 12/17/2014 - 16:37 | 5564686 Idaho potato head
Idaho potato head's picture

A new batman flick ready for release?

Tue, 12/16/2014 - 21:46 | 5561128 williambanzai7
williambanzai7's picture

Vlad is the kind who knows how to keep his powder dry. 

Tue, 12/16/2014 - 19:43 | 5560711 Jumbotron
Jumbotron's picture

Fuck you Vlad !    LOL!

 

Bitch tit Putin went to camp...

 

Riding on a pony....

 

Stuck a ruble in his ass....

 

And called it macaroni !

 

LOL !

 

 

 

 

 

 

Tue, 12/16/2014 - 20:27 | 5560877 TheFourthStooge-ing
TheFourthStooge-ing's picture

That is 'americanism' at its brightest. Best answer. Hard to improve on that (even though primitive 'american' minds will find a way, I think).

Tue, 12/16/2014 - 20:49 | 5560945 AwkwardReader
AwkwardReader's picture

After the nukes I want an exploratory committee to seek rather TheFourthStoog-ing can /should run for Warlord. The dude brings it daily.

Wed, 12/17/2014 - 00:32 | 5561731 nuke ISIS now
nuke ISIS now's picture

The fourth douche fucking bag..fuck you, fuck your desperate Russian propaganda, and fuck your shit hole country you cunt

Typical rouskieinism. You produce nothing but oil, and survive by hacking, you worthless cock sucker. Fuck you and your authoritative sounding bull shit

Anyone that has a higher iq than the one you have which is currently that of a radish can see your posts for what they are..worthless propaganda. Right Hanoi Jane

Oh yeah fuck you

Wed, 12/17/2014 - 01:06 | 5561810 TheFourthStooge-ing
TheFourthStooge-ing's picture

Another stunning display of intellect from Captain Butthole.

Wed, 12/17/2014 - 01:22 | 5561828 angel_of_joy
angel_of_joy's picture

You really shouldn't try so hard to prove him right, you know... By now, we all have figured that you are the real deal ;)

Wed, 12/17/2014 - 12:39 | 5563252 schadenfreude
schadenfreude's picture

That's the Fight club, not the kindergarten.

Tue, 12/16/2014 - 20:43 | 5560919 ebworthen
ebworthen's picture

Yankee Doodle went to town,
A-riding on some taxpayers.
Ground them up in Wall Street's mill,
And called it Bankster Boloney.

Tue, 12/16/2014 - 21:09 | 5561017 Harbanger
Harbanger's picture

Debt serfs for taxpayer and Banksteroney in the end.  You almost had it.

Tue, 12/16/2014 - 21:27 | 5561059 ebworthen
ebworthen's picture

Solid lyrical suggestions; we'll use them for the sing-in at the Marriner S. Eccles Building.

Tue, 12/16/2014 - 23:32 | 5561552 DaveyJones
DaveyJones's picture

Yankee Doodle kept markets up

thought he was so dandy

screwed the girls and their pups

with his paper candy 

 

 

Tue, 12/16/2014 - 19:51 | 5560735 ZH Snob
ZH Snob's picture

maybe the ruble crash has been allowed to happen to make way for the

gold-backed RUBUAN

even if it was only 20%, as long as it is a joint Russia/China venture, the world will beat a path to their doors.

 


Tue, 12/16/2014 - 20:42 | 5560915 scrappy
scrappy's picture

Shades of Jim Willie ZH Snob.

Liked the metaphor from dsty too.

they know something is coming

that is why the hard push

like trying to stop a truck from rolling down hill

be ready

 

Tue, 12/16/2014 - 21:43 | 5561073 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

Yes re Jim Willie.  

But, given some time, China will be the senior partner, Russia the junior.

Siberians looking for a future best learn Mandarin.

China and Russia will not be a marriage of equals.  China has 10 times the population of Russia, and they are running out of space...

Tue, 12/16/2014 - 23:10 | 5561454 himaroid
himaroid's picture

Lawd Gawd, have mercy!

Jim Willie finally proven right!

I confess, I had done gib up.

Wed, 12/17/2014 - 04:26 | 5562014 JAFAH
JAFAH's picture

I call bullshit on the running out of space. A quick glance at a map will show that. Nobody including the Chinese is too "happy" to live in Siberia. 

http://4.bp.blogspot.com/-Op6vzfjuel0/T9X6DBCEehI/AAAAAAAABhc/OAqbS8L32cM/s1600/hu_huanyong_line.png

 

Wed, 12/17/2014 - 05:06 | 5562037 Angry White Dude
Angry White Dude's picture

Don't know about the running out of space part, but I could definitely see a move to use Chinese labor for exploitation of Siberian resources. Not much different than the US importing Mexicans and other Central Americans to pick fruit. Would be a good way to put a bunch of energetic young men to work far away to where they can't make trouble and agitate at home.

Tue, 12/16/2014 - 20:40 | 5560910 ebworthen
ebworthen's picture

The West declaring WAR on the Russian Federation.  Stupid.

Wed, 12/17/2014 - 00:23 | 5561706 caconhma
caconhma's picture

It is amazing that quite intelligent people on this ZH site are incapable to  realize that Putin is a loser.  His Russia (Putistan) is about to collapse at best or disintegrate.

Just look at his Putin results: Russian economy is collapsing, Russian currency is no better than in Zimbabwe, Ukraine is lost, and the list is going on. If one can read Russian papers, he/she will discover that Putin does not control his own government. The entire banking sector in Russia is under US FED control. The Russian Central Bank instead of supporting Russian economy by printing Rubbles (like FED do to support US economy) are raising their interest rates sky-high to destroy Russian economy.

The situation in Russia is critical. Putin's Russia does not have more than few months to survive. It is the end of the Putistan.

Wed, 12/17/2014 - 05:12 | 5562043 Angry White Dude
Angry White Dude's picture

Picking around the ad hominem attacks...

- Russian economy collapsing - Not really. Weak ruble and depressed commodity prices, yes, and that is certainly causing short term pain, but to say it is collapsing is hyperbole.

- Russian currency no better than Zimbabwe - Haha. So far I haven't been able to find any souvenier trillion ruble banknotes on Ebay. And you ignore the positive effects of a weaker currency for exporters like Russia.

- Ukraine is lost - Agreed, insofar as the Ukraine is at risk of becoming a failed state, but Russia seems to have the portion it wants.

- Russian banking under Fed control - source?

- RCB not printing rubles - check out the 650 billion bailout of Rosneft. Though I don't concede that printing rubles is a sound idea.

Wed, 12/17/2014 - 09:20 | 5562349 Shropshire Lad
Shropshire Lad's picture

Yet it is in the USA and the EU that unemployment, business failure, loss of confidence and civil rioting are spreading week by week ....

Wed, 12/17/2014 - 01:02 | 5561797 luckylongshot
luckylongshot's picture

You have to wonder if Russia did not expect this and that it is all part of a plan that will wreck the financial system. Perhaps a silver bullet to kill the evil bankster demon. It would not cost much to go long silver and demand delivery to the extent the system collapsed.

Tue, 12/16/2014 - 19:02 | 5560537 no more banksters
no more banksters's picture

No problem (update):

http://bit.ly/1swMFLy

Tue, 12/16/2014 - 19:05 | 5560546 Jack Burton
Jack Burton's picture

Here is one perspective from inside Russia. " Our country has a stock of dollars

- The currency of our country - roubles - is held by other countries

- We - Russia - are planning to sell oil for roubles in the future

- Everyone who buys oil from us in the future will have to look for these roubles to buy oil

- The harder it is to look for them, the more expensive they will be

Naturally, the task is simple - we need to drop the ruble to the maximum, and then buy all that we can, giving away the dollars that are no longer needed and not guaranteed by anything. This will help concentrate all of the roubles inside the country and to assign their price independently, while holding and then releasing more money to the market.

Meanwhile there will be a short-term increase in prices and a reduction in living standards, but it's like an incision by a surgeon - a little painful at first, but then you will be healthy and strong for the rest of your life."

Tue, 12/16/2014 - 19:16 | 5560596 kliguy38
kliguy38's picture

ya gotta cut it open to get the pus out 

Tue, 12/16/2014 - 20:05 | 5560784 VATICANT
VATICANT's picture

The sebaceous cyst America has become! Fuck those arrogant Zionist whores and the Jews who pimp them!

Tue, 12/16/2014 - 21:41 | 5561106 ChiangMai
ChiangMai's picture

Not always.   ;-)

I recently used this on what appeared to be a recluse spider bite that, after almost a week, was starting to expand and get really nasty looking.

"Most powerful suction available."

Pulled out a big yellow glob in 90 seconds and the whole mess healed up within a few days.

Tue, 12/16/2014 - 22:11 | 5561242 enloe creek
enloe creek's picture

Good stuff

Tue, 12/16/2014 - 22:51 | 5561396 Disc Jockey
Disc Jockey's picture

I have a bit of knowledge on wilderness medicine and have assited in a few Search and Rescue operations over the years.

Those things just don't work.  I mean go ahead if you want to (I can't speak to your personal experiance), but there are a number of studies that show kits like the one you have linked provide little to no assitance in the removal of venom, poison, or other fluids.  Some studies even show that they can be damaging to tissue in the surrounding area.

For example: http://www.doctorross.co.za/wp-content/uploads/2009/01/bush-sp-snakebite...

In case of Zombies however there is a well known method to prevent infection:

http://www.zombie-guide.com/wp-content/uploads/hershel.jpg

Tue, 12/16/2014 - 19:16 | 5560600 Al Huxley
Al Huxley's picture

But Jack, don't you understand?  The supply of Saudi oil is actually, it turns out, infinite.  They were just havin' a little fun with us the past 40 years, but really they can sell it for next to nothing, and are happy to do so.  So although there was that unfortunate little mistake of investing in high-cost energy here, in the long run free, infinitely available oil will be just the ticket to get this global economy (except for Russia, who will be living the life of 14th century peasants) rolling again.

 

Nobody will need rubles to by Russian oil, nobody will need Russian oil.  For this we should be grateful to the Saudis and forgive them for 40 years of price gouging - it was all in fun.

Tue, 12/16/2014 - 19:24 | 5560629 Bollixed
Bollixed's picture

Heck, the Abiotic Sea contians more oil than the oceans contain water. What could go wrong.

/s

Tue, 12/16/2014 - 20:09 | 5560797 VATICANT
VATICANT's picture

Saudi's 40year-running chief-wells are pumping 90% water these days

Tue, 12/16/2014 - 21:16 | 5561036 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Saudi's 40year-running chief-wells are pumping 90% water these days

Yes, they are pumping sea water into one end of Ghawar to force crude out of the other end, but this time it's different. Seriously. That water is from the Abiotic Sea. When you pump it underground into oil-bearing formations, it actually turns into oil.

It's a highly scientific natural process of some sort. I saw some studies and documents about it on the internet somewhere, and they had lots of charts, graphs, tables, and equations. They also used a lot of technical terms which I didn't really understand, so that pretty much proves that they know what they're talking about.

As everyone knows, the Abiotic Sea is infinite, so crude oil is limitless. We have so much cheap oil that it can almost make US LNG exports profitable.

Tue, 12/16/2014 - 21:46 | 5561134 Baldrick
Baldrick's picture

thanks for the lol!

Tue, 12/16/2014 - 22:34 | 5561329 himaroid
himaroid's picture

I met a dude from weeziana.

He said they wring the oil from the shrimp and use it to cook them.

More fuel drawn from their prawn than goes through the gulf of oman.

 

Tue, 12/16/2014 - 22:59 | 5561417 Volkodav
Volkodav's picture

The cost to extract it...

EROI

 

Layoffs in Houston now...

Just one is Hercules Offshore 400, and that is not fracking

If continue thousands out of work TX and OK

 

Tue, 12/16/2014 - 19:26 | 5560635 Jack Burton
Jack Burton's picture

I certainly appreciate that Al Huxley. It is true the Saudi Royals have been sitting on infinite Oil and gouging all hell out of us since the 70's! The US "all in" investment in expensive oil extraction, 100's of billions worth, was all practical joke, as Saudi has agreed with US foreign policy demands to pump infinite oil for free. And Canada was also engaged in the practical joke, sinking 10's of billions of dollars into Tar Sands mining, all along just running cover for Saudi capacity, which can now pump, as you said, to infinity, and for free.

It is a funny, funny world we live in. Notice the silence from Canada, a nation who staked it's next 100 years of prosperity on Tar Sands, an oil source that costs 10 times what Saudi oil did back when saudi was demanding 10 times more than what it cost to produce, as we now know Saudi pumps oil for free.

Tue, 12/16/2014 - 19:53 | 5560746 Fiat Currency
Fiat Currency's picture

Get a grip Jack. "Tar Sands" is < 2% of Canada's GDP ... and most of the companies operating there are owned by Americans.

Tue, 12/16/2014 - 19:57 | 5560765 Jack Burton
Jack Burton's picture

Indeed, but it is set to double within a couple years and double again. And if I am wrong, then blame Canada, the hype over tar sands coming out of the leadership is nothing short of biblical.

Wed, 12/17/2014 - 02:16 | 5561897 angel_of_joy
angel_of_joy's picture

Maybe so, but it's one of very few PRODUCTIVE fields in the Canadian economy. You wanna know the biggest contributor to their GDP ? Real estate ! And their cities are already among the most expensive in the world.

LOL ! You really can't make this shit up...

Tue, 12/16/2014 - 19:31 | 5560663 photonsoflight
photonsoflight's picture

Doesn't that make the saudis a target, not only for Russia but every oil producer in the world? Burn baby burn.

Tue, 12/16/2014 - 20:02 | 5560778 Jack Burton
Jack Burton's picture

My thoughts too. That is why the place is locked down under a curtain of US miltiary assets. Not in the country, but is places all nearby. Liek the US Navy, they are there to provide instant anti missile defense. Marines and Navy Seals at a moments notice. Plus total air control over Saudi from US Carriers.

But I agree, Saudi is the world's greatest cancer, even above Israel. Saudi seems immune to their actions. They do anything and never are called to book. I wonder, if Putin and Iran are not about to begin to support their own tame terrorists, just like the CIA and Mossad do. Like Al-Qaeda, Chechen Jihad and a large part of ISIS was just recently on CIA payroll, as part of the FSA against Assad.

Tue, 12/16/2014 - 23:45 | 5561600 DaveyJones
DaveyJones's picture

three great posts

Wed, 12/17/2014 - 09:31 | 5562382 Shropshire Lad
Shropshire Lad's picture

It's just a few weeks now that Russia demonstrated in the Black Sea that it could immobilize US anti-aircraft and anti-missile systems....

Tue, 12/16/2014 - 20:52 | 5560949 scrappy
scrappy's picture

Cogent, photonsoflight watch for it.

Stranger things have happened, like everything now.

Tue, 12/16/2014 - 19:25 | 5560633 Freedom In Your...
Freedom In Your Lifetime's picture

That would make a lot of sense if the local economy / civilian stability can withstand the trauma. Time will tell.

Tue, 12/16/2014 - 19:37 | 5560690 cristo
cristo's picture

Iran was able to withstand it , so far .

Tue, 12/16/2014 - 19:34 | 5560676 Fun Facts
Fun Facts's picture

"Here is one perspective from inside Russia....."

Thats a very interesting analysis...sort of thing I come here for.

That said, it doesnt address the criticality of the problem.

Russia has to first remain solvent to implement their plans, and the syndicate has them down and is ready for death by weaponized CDS in a matter of days or weeks at the rate we're going.

Tue, 12/16/2014 - 19:41 | 5560702 Jack Burton
Jack Burton's picture

"death by weaponized CDS in a matter of days or weeks at the rate we're going."

You have me there, as I do not, and never have, understood CDS really well. Is Russia on the wrong end of CDS, or are western bankers on the wrong end of these things? Are Russian banks part of the CDS game.

I thought Western Bankers were the ones playing at trillions in swaps and Credit Default insurance. Would not these blowing up blast western banks to bits, and leave the Russian real economy fairly untouched? Can you clarify.

Tue, 12/16/2014 - 21:34 | 5561086 DoChenRollingBearing
DoChenRollingBearing's picture

I wonder what a Jubilee would do...  All bank debts (including derivatives), and all inter-governmental debts, would scramble things up...

Tue, 12/16/2014 - 21:42 | 5561087 DoChenRollingBearing
DoChenRollingBearing's picture

dupe post

Wed, 12/17/2014 - 02:24 | 5561903 angel_of_joy
angel_of_joy's picture

You have no idea what you are talking about, what a CDS is, or how it works. As Mark Twain once said it's better to shut up and (only) look stupid...

Tue, 12/16/2014 - 20:34 | 5560899 silvermail
silvermail's picture

For all who can read in Russian:

Turkey will join the ranks European colonies of Washington?
http://novorus.info/news/analytics/31451-popolnit-li-turciya-ryady-evrop...

Tue, 12/16/2014 - 21:57 | 5561149 fel.temp.reparatio
fel.temp.reparatio's picture

Look up Fethullah Gülen and his association with alphabet agencies, that may fill in a few gaps in the article.

Tue, 12/16/2014 - 21:25 | 5561061 Freddie
Freddie's picture

Hey Jack - what are the chances of Yats getting another 15 billion euros from the EU?

http://www.liveleak.com/view?i=fd5_1418687332

Check out photos with Yats and Lady Ashton. She spoke with Estonian foreign minister about the snipers at the Maidan from the junta who murdered Ukrainians and blamed it out the legally elected govt.

 

Tue, 12/16/2014 - 23:23 | 5561512 TheFourthStooge-ing
TheFourthStooge-ing's picture

Yats: "Give us more money or we will default."

http://russia-insider.com/en/2014/12/13/1842

Whiny, butthurt EUrocrats demand that Russia bail out both Ukraine and the EU:

http://www.globalresearch.ca/the-european-union-demands-that-russia-bail...

Tue, 12/16/2014 - 22:15 | 5561261 himaroid
himaroid's picture

The Russian stock market is up in terms of Rouble.

Wed, 12/17/2014 - 05:50 | 5562080 Ghordius
Ghordius's picture

"We - Russia - are planning to sell oil for roubles in the future"

you mean that if We - European Union - want to buy oil and gas in EUR... Vlad is going to say no? We'll see

judging from history... well, the Eurodollar started with the Soviet Union selling in dollars but keeping those dollars away from the US, in Europe. Hence the name

but yes, in general Russia seems to be headed to more autarchy

Wed, 12/17/2014 - 06:19 | 5562100 Sandmann
Sandmann's picture

The USSR did not have a convertible currency, nor did Germany until 1957, Britain had a controlled currency until 1979 so clearly traded goods would have been in US Dollars backed by Gold

Wed, 12/17/2014 - 06:34 | 5562112 Ghordius
Ghordius's picture

Sandmann, your excellent memory for those details... I'm impressed, as usual. Doesn't your comment underline what I wrote? At the moment, the Ruble is not convertible

Wed, 12/17/2014 - 07:25 | 5562159 Winston Churchill
Winston Churchill's picture

I remember it well.

Had to pay a 'dollar premium' of 50% above the stated exchange rate to import

non essential product.A govt. enforced black market in FOREX.I used to get around it with gold,which

for some reason there was no premium on.

Tue, 12/16/2014 - 19:05 | 5560547 Saratoga
Saratoga's picture

All wars are Bankers Wars.

Tue, 12/16/2014 - 19:42 | 5560705 Jack Burton
Jack Burton's picture

Indeed! Bankers get rich as the bodies pile higher. All the more reason not to be one of those bodies.

Wed, 12/17/2014 - 03:37 | 5561980 Spanky
Spanky's picture

A lesson some of us learned the hard way...

Moreover, it's blown back home in the form of militarized police and DHS.

Wed, 12/17/2014 - 05:52 | 5562084 Ghordius
Ghordius's picture

it's a simplification, though. The real secret of war is that it's always for gains. For some kind of profit. Bankers are in the equation to facilitate the profit part

Tue, 12/16/2014 - 19:06 | 5560552 fuu
fuu's picture

Where has all good collateral gone, long time passing...

Tue, 12/16/2014 - 21:45 | 5561123 DoChenRollingBearing
DoChenRollingBearing's picture

Lost in boating accidents, everyone...

Tue, 12/16/2014 - 19:07 | 5560555 Number 156
Number 156's picture

Its as if billions of russian Rubles cried out in horror, and were suddenly silenced.

Tue, 12/16/2014 - 19:13 | 5560589 NoVa
NoVa's picture

Help us Obie Wan  BenYellenOblamo

 

/s/

NoVa

Tue, 12/16/2014 - 19:06 | 5560558 chunga
chunga's picture

Goldman Sachs must die

Tue, 12/16/2014 - 19:11 | 5560571 Son of Loki
Son of Loki's picture

" Yes we can ! "

 

Speaking is 'liquidity' some smaller USA O&G companies and hale dudes are having a hard time with that "L" thingy also.

Tue, 12/16/2014 - 19:12 | 5560578 LasVegasDave
LasVegasDave's picture

So, will it be a takedown of a Saudi oil facility, or will certain high level individuals start disappearing?

Nice intrigue.  Its been a few years.

Tue, 12/16/2014 - 19:11 | 5560581 Al Huxley
Al Huxley's picture

Remember how much fun this was in 1998?  I guess TPTB felt it was time for a replay.

Tue, 12/16/2014 - 19:14 | 5560593 falconflight
falconflight's picture

I believe it's checkmate for the marxist-socialist-communists, by the progressive-socialist-fascists.  We won yeaaaah!

Tue, 12/16/2014 - 19:16 | 5560598 BullyBearish
BullyBearish's picture

"Cry 'Havoc!', and let slip the dogs of war"

Tue, 12/16/2014 - 19:17 | 5560603 Jack Burton
Jack Burton's picture

Oddly enough, this news does seem to give Russia no option but a union with China.

One must give credit to America and Saudi Arabia, in one neat little trick, crash world oil prices, they have strangled all western economic ties to Russia. So there is now only one outlet, a uion with Earth's largest economy, and the birth of a new currency.

I said America was playing an "end game" with Russia, we now have proof positive of it. Economic war is now nuclear. The fighting war is also set to take the nuclear option. Intelligence inside the Donstsk Republic has warned of False Flag attacks carried out by Ukraine on targets inside Ukraine, to be blamed on rebels. Just like MH-17, which failed. Also, intelligence reports plans by Kiev Junta to resume the ATO with American arms and advisors. This fits Obama's plans to sign the congressional declaration of war on Russia. Add this to the economic nuclear attack now underway, and it is crunch time all across the board.

I kept saying this was end game for Russia. The USA is playing all it's cards. The ball is in Putin's court, he will get little sleep tonight, all his bluffs have been called, the USA has pushed all chips into the center of the table and called Putin to show his cards.

The next week or so will be historical. Especially if Kiev plays ball with Washington and false flags start going up. Remember MH-17, now a certain case of Ukrainian Airforce Su-25 shoot down. What next? Look how far they already have gone.

Tue, 12/16/2014 - 19:23 | 5560622 El Vaquero
El Vaquero's picture

Currency War ----> Trade War ---> War War

 

We're on step 2.  Hope we don't make it to step 3.  If we do, you might find this useful:

 

http://www.earthmountainview.com/fallout2.gif

Tue, 12/16/2014 - 21:36 | 5561088 Dragon HAwk
Dragon HAwk's picture

I doubt that's up to date, No Brown Splotch over Washington DC, I'm disappointed,  the east coast will definitely take Hits.

 God I hope some Sanity Prevails.

Wed, 12/17/2014 - 01:42 | 5561854 El Vaquero
El Vaquero's picture

The biggest brown splotch is  where we keep our Minuteman IIIs.  A nuke or two and DC is functionally a memory.  To take out those hardened missile silos, a very large number of nukes would be needed, and there is a good chance that they would have to detonate at or near the ground, which produces A LOT more fallout than airbursts.  Airbursts are, however, much better at flattening cities. 

Wed, 12/17/2014 - 06:00 | 5562091 Ghordius
Ghordius's picture

the very moment someone finds a way to profit from War War, we'll have one. But currently it's very difficult, so we'll keep to this kind of conflicts

3'000 dead in the last season of the Russian-Ukrainian conflict alone. methinks this is not "a small thing". I find it's War-War enough

of course for a jaded public steeped in an Armageddon culture rehashed by TV and movies with endless huge balls of fire it might be... boring

Wed, 12/17/2014 - 06:17 | 5562099 Sandmann
Sandmann's picture

Americans do not take heavy losses, their civilian population has never experienced urban destruction. The Japanese had no long-range bombers. Vietnam losses 58,000 over 10 years was miniscule compared to Vietnamese or Cambodian losses.

The prospect of losing cities like Atlanta, Dallas, Houston, LA, Chicago, New York, Denver, Boston does not enter the thinking of Americans who will be horribly distraught when they are turned to ash.

This is a final game. What is going on in Novorossiya is small scale just like Austria against Serbia in 1914 - it is dragging in the bigger powers that blows it up just as the Austrians did to the Germans in 1914 and Poland did to the British in 1938.......and what Poland and Ukraine are trying now with the musclebound Americans

Wed, 12/17/2014 - 10:33 | 5562597 El Vaquero
El Vaquero's picture

It should be pointed out that most Europeans prior to WWI did not remember any really harsh war or even famine or pestelence that hit the civilian population that hard.  Yet 20 million died in that war.

Tue, 12/16/2014 - 19:27 | 5560643 thamnosma
thamnosma's picture

This is the plan of Brzezinski/Soros unfolding before our eyes.  Might not work out as intended, however.

Tue, 12/16/2014 - 19:29 | 5560656 El Vaquero
El Vaquero's picture

Yeah, Russians are kind of paranoid when it comes to foreign invaders.  Centuries of getting invaded have burned it into their culture.  I think that they'd push the button before they surrendered their sovereignty. 

Tue, 12/16/2014 - 19:32 | 5560664 thamnosma
thamnosma's picture

This is a very dangerous situation and I'm not finding it reported anywhere but here.

Tue, 12/16/2014 - 19:47 | 5560724 El Vaquero
El Vaquero's picture

Dangerous indeed.  Best case scenario, the dollar goes BOOM! and supply chains break, leading to chaos, though this could occur over months or years.  Worst case scenario, BOOM!  Just BOOM!  Or lots and lots of BOOMS!  Danmed big ones too.

Wed, 12/17/2014 - 07:12 | 5562148 thestarl
thestarl's picture

One of the main reasons I come here

Tue, 12/16/2014 - 20:01 | 5560758 Augustus
Augustus's picture

Russians seem to have no problems with deciding to invade foreigners.

Now they can have a choice of continuing that practice or becomming overrun by 1.3 billion Cinese.

 

Well done, Gradmaster Vlad. Your chess move.

Tue, 12/16/2014 - 21:35 | 5561085 Freddie
Freddie's picture

As Americans are overrun but tens of millions of illegals while the US Military does Obama-Soros bidding.  If you are an American then you are a serf now.

Tue, 12/16/2014 - 21:36 | 5561089 MsCreant
MsCreant's picture

Yeah, the US never invades foreigners. 

Look, Vlad is a killer and KGB, I get that. He is not sweetness and purity. I don't wish this shit on us OR the Russian people. If you can't see how close to the brink we are getting, you are not paying attention. 

Brinksmanship is not a way forward for winning the future on either side. 

No one trusts anyone, so no one will tell the truth and start coming up with real solutions to real problems. This shit is what we get instead. Cheering this on is insane. You are just wrong. 

Tue, 12/16/2014 - 22:13 | 5561259 Volkodav
Volkodav's picture

I would encourage you to read Chris Hutchin's book "Putin"

Intelligent books are maybe two in number

finding any accurate information about President Putin is almost impossible there

Lies upon lies. Actually VV Putin is more an enigma in real.

He was administrative KGB only.

As far as killer, "The Phony Litvinenko Murder" William Dunkerley

is just one that dispells.

otherwise, ask the world's dead what countries leaders kill...

 

 

 

 

 

Tue, 12/16/2014 - 22:56 | 5561416 MsCreant
MsCreant's picture

Quite a bit of the book can be found on-line. I am taking a look.

Wed, 12/17/2014 - 04:35 | 5562019 Volkodav
Volkodav's picture

Study the Oligarchs takings...Khodorkovsky especially, who did not start from scratch, but

huge backing. Berezovsky, and others that after VV Putin found their crimes and could act

against, he did so.

Goldfarb, who "wrote down" Litvinenko's statements, close associations with Soros.

Many overlaying web....many spiders

 

Wed, 12/17/2014 - 04:46 | 5562023 Volkodav
Volkodav's picture

thought of this also...'First Person" VV Putin  it is basically interviews.

I can't recall who did interview..

I do not consider others fair and many just lies and/spite

forget Masha Gessen, she is the worst....ugly no tittes hateful suka...

Tue, 12/16/2014 - 23:50 | 5561610 DaveyJones
DaveyJones's picture

where do you get your history books?

Tue, 12/16/2014 - 19:34 | 5560675 malek
malek's picture

 strangled all western economic ties to Russia

JB gets it!
And it's a follow up on the staged Cyprian bank crash: all to kick Russian money out.
(Yes those banks were truly bankrupt, but why not save them with moar printed money as all other had been? And that Cyprian bank offices were left open when the local ones were shuttered was not an accident: they wanted to cut economic ties, not expropriate Russians.)

I'm not so sure Putin has shown all his cards, a real challenger would know this is a battle, not the entire war to be on the brink.

Wed, 12/17/2014 - 05:54 | 5562086 JAFAH
JAFAH's picture

I'm not following the Cyprian bank offices thing. Only the Cypriot banks had currency controls imposed, at foreign branches including Barclays, VTB, Arab bank etc.. it was business as usual after the "bank holiday". At only 2 Cypriot banks were the haircuts performed. Look up the heavy hitters who took over the BOC. Wilbur Ross,Josef Ackerman, etc. 

Wed, 12/17/2014 - 15:44 | 5564385 malek
malek's picture

I'm talking about London offices of the Cypriot banks.
There were left to open, so big money players such as those alleged Russian ones could withdraw their pile.

(At first there were no capital controls, instead the Cypriot bank local offices on Cyprus were on a bank holiday.)

 

Tue, 12/16/2014 - 19:36 | 5560681 Dapper Dan
Dapper Dan's picture

If war is in the works, it's not showing up in the  Military kerosene-type jet fuel production

25,000 barrels per day as of week of 11-7-2014

by far the lowest since 1993 (which was 83,000 bpd)

I’m sure it’s because Drones just don’t use much fuel.

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=wkmrpus2&f=4

Tue, 12/16/2014 - 22:16 | 5561265 Clowns on Acid
Clowns on Acid's picture

Nukes don't either.

Wed, 12/17/2014 - 00:20 | 5561696 trulz4lulz
trulz4lulz's picture

Those come pre-fueled, ready to go.

Wed, 12/17/2014 - 00:06 | 5561657 g'kar
g&#039;kar's picture

Those numbers may not mean much if a strike is invited by the US gov, as in Pearl Harbor.

 

 

Tue, 12/16/2014 - 20:21 | 5560854 Stumpy4516
Stumpy4516's picture

It has always been clear the end game was to control Russia and control profits from Russian natural resources.  Yet Putin never prepared. 

It was in Russia's interest to stop Iraq2, Libya, Serbia, Kosovo, Syria, Ukraine and others but Russia/Putin did not.  However, it might have been in the interest of the Russian elite not to take a stand so the ball (and profits) kept rolling without a hiccup.  Russia could have had a coalition instead Russia abandoned her friends and watched them be slaughtered.  China is aware of Russia's lack of character and will not expose China to being used by Russia.

If Putin is playing chess it is for the benefit of the elite and not for mother Russia.

If the situation was reversed those huge transport planes flying in new modern arms would have been shot down by the US in covert actions. 

You are correct Putin's bluffs are being called.  Tough guy photo opps are not cutting it.

Tue, 12/16/2014 - 21:04 | 5560999 thamnosma
thamnosma's picture

Russia really did leave several long standing allies in the NATO dust.  Never quite understood that.  Russia also failed to take full advantage of the rift between the Obamao treitors and the Egyptian military.  Could have been Nasser II...

Wed, 12/17/2014 - 03:46 | 5561985 Spanky
Spanky's picture

...Russia really did leave several long standing allies in the NATO dust.  Never quite understood that. -- Thamnosma

Inability to project (conventional) military power very far from the homeland's borders.

Tue, 12/16/2014 - 21:32 | 5561079 malikail
malikail's picture

It will be interesting if you are right. It would be the first time I have ever heard of a Russian bluffing, honestly I am not sure they can.

Tue, 12/16/2014 - 21:58 | 5561193 Volkodav
Volkodav's picture

good observation

 

Russians can be very clever

And not scared of much

Tue, 12/16/2014 - 22:00 | 5561205 Amerikan Patriot
Amerikan Patriot's picture

One time I was at a 'veecherinka' in Russia and my flash batteries gave up the ghost.

The Russian next to me promptly took the batteries out of the camera, beat them on the ground, reinserted them in the camera and Voila! - we got several more photos out of them.

Tue, 12/16/2014 - 23:02 | 5561426 Volkodav
Volkodav's picture

Russia teach beat on ground in school

Tue, 12/16/2014 - 21:33 | 5561084 ehildret
ehildret's picture

Thank you for continuing to share your perspective.  Your comments, and a couple others, seem rational, plausible, and insightful.  My regards. 

Tue, 12/16/2014 - 23:54 | 5561622 DaveyJones
DaveyJones's picture

"all its cards"

isn't that the key

we're not what we used to be

It seems like the biggest Natural Gas deals in human history alone may force China into this game     

Tue, 12/16/2014 - 19:18 | 5560606 That_shits_broken
That_shits_broken's picture

Get to work Mr. Bullard!

Tue, 12/16/2014 - 19:20 | 5560617 breadonwaters
breadonwaters's picture

There are far too many serious signs of impending crisis.  Most recently, the fall of oil oil prices, and they fall of the Ruble.

The oil price fall should be good, but the big banks had bets out that oil would not fall, and certainly not a fall of 50%. These bets are in the hundreds of TRILLIONS, and they used borrowed money to make the bets.  This is now crashing the system, and all hell will break loose.
Bank Accounts will be taken by the gov to support the banks. The gov has outright came out and said it last spring.

The banks will have to close while they do their dirty work.....you will not be able to get your money out during this time...because the Gov / bank minions have to figure out how much of your money to take.

This is a warning to  protect your hard work and birthright.  protect your assets from the gov.

The US /  oligarchy are hell bent on demonizing Russia.  I believe Russia is to be the scapegoat for why the world's financial system failed into a new greater depression.  Nothing like the drumbeats of war,, patriotism and the American flag to get the attention of the great unwashed masses of the US Public.  This is a very serious development leading the world into war.

I take little comfort that the Russians are possibly the best candidate to stand the storm of aggression against her shores.  They have little debt, all the oil they need, foreign exchange customers who must have their products, gold and US treasury reserves, neighbors who will feed them, China as an ally, and worst of all for the US Neocons, Russia is the second largest high tech military manufacturer on the planet (second only to the US).  They also have financial options to hasten the fall of financial system....and since we are nailing the Ruple, why shouldn't they do likewise to the US $.

Forget about the UKRAINE.....it is a mess, created by the US Neocons as a staging ground for the containment of Russia.  It is bankrupt, corrupt and run by Neo Nazis, who form the bulk of the forces fighting the seperatists.  This is a puppet.

So far, Russia has not been drawn into the confrontation the Neo Cons want.  Why would they?  Ukraine is a black hole for money, with little return. Russia already has the undying affection of the russified Eastern separatist regions....they get whatever economic benefits they can arrange (coal, steel) with this vassel independent Ukraine states, plus a buffer between it and the nazified, european Ukraine.
So what does he have to do, other than prevent NATO troops from crossing into her new buffer states?  And that is the problem.

The US Neo-cons want troops on the ground, and you only have to watch the internet to see when Nato put troops into Ukraine to know the shit is going to hit the fan. 

Keep money available, lots of it.

Tue, 12/16/2014 - 19:34 | 5560673 Jack Burton
Jack Burton's picture

Ronald Wilson Reagan had Neocons in his administration team when he took over the White House. After hearing these Neocons speak at critical defense and diplomatic meetings, Ronald Reagan called them "The Crazies" and ordered them all fired from his administration, he, the President, no longer wanted to hear one more word from "Those Crazies". That is historical fact.

The new fact is this. Those Crazies now run all American diplomatic foreign policy and the entire Intelligence, Spy and Military complex of the Untied States, The Crazies now sit at Obama's table and design Obama's action plans.

Remember. Ronald Reagan threw them out of the White House. These same men now hold all power in the WHite House.

Let CNN report that little fact eh?

Tue, 12/16/2014 - 20:52 | 5560955 Whoa Dammit
Whoa Dammit's picture

And remember that Reagan got shot. Coincidence? 

Tue, 12/16/2014 - 21:06 | 5561007 scrappy
scrappy's picture

No.

Tue, 12/16/2014 - 21:41 | 5561107 Freddie
Freddie's picture

And here is who did it and part of the reason why.  The guy on the far right in the glasses. 

https://www.youtube.com/watch?v=OO2_49TycdE

At that moment - Reagan won over many working class Democrats.

Say what you want about Reagan - he was a man and a leader.  He attcked the Soviet system but he spoke with them and negotiated with them.   Now we have people who want full on war.   Madness.  The media says nothing.

Tue, 12/16/2014 - 21:49 | 5561142 MsCreant
MsCreant's picture

Freddie, I know you don't care about or need my opinion.

I used to make fun of you because all you would do was knock television and democrats. 

Your posts are now often worthwhile and make a lot of sense. 

Just needed to say that. You have really evolved as a presence here. I don't agree with everything you say, but it is all very much worth considering.

Tue, 12/16/2014 - 22:00 | 5561199 Freddie
Freddie's picture

Thank you.   I also don't think Reagan's final years were from Alzheimer's.  I think he got a prion from the agency/crazies.   The guy in the glasses who wants another one of his son's running the show. 

The Reagan amnesty - that was Bush.

Tue, 12/16/2014 - 22:35 | 5561342 MsCreant
MsCreant's picture

I voted for Reagan as a late teen (my first vote). He seemed sensible. I wore buttons for him and got picked on at school for it during the campaigning, I was very much a minority. I mean pushed, spit in my face, picked on. I pushed back. Classic bitch party. We got reported for fighting. Behind closed doors with the authorities, I was scared about what would happen, and started to talk about my right to express myself and all I was doing was wearing buttons, that they were attacking me, that I never said anything (this is true, all I did was wear buttons on my coat). The man stopped me dead in my tracks and said no one was going to be allowed to treat me like that for expressing my opinions, that he was not going to have it. I was blown away and understood that he too supported Reagan. My ass was soooo covered. I learned a lot that day.

I later drifted to the democrats. They seemed kinder and more compassionate, little did I know. It takes what it takes. When the economy started to fall apart, I started to see the folly of buying into either party when both of them were taking Wall Street money to get elected, and more. 

At the time, I really liked Reagan. It may not have come from a very mature place. All politicians are guilty of something by the time they reach that level. Reagan or Putin. Let's not even talk about our so called "options" today. Ron Paul is a pol too but damn he sure seemed like the real deal. We are starved for integrity. I would give up a lot gladly, if I knew we could really install folks who had "the folks" as their top priority. 

Tue, 12/16/2014 - 23:05 | 5561435 Freddie
Freddie's picture

+100  Good story and good for you to stand up for your beliefs.

I cannot watch his videos anymore.  I feel like we are on another (evil) planet now.

Wed, 12/17/2014 - 04:16 | 5562006 Volkodav
Volkodav's picture

See Paul Craig Roberts with Greg Hunter just hours ago YouTube

Wed, 12/17/2014 - 06:15 | 5562098 Ghordius
Ghordius's picture

"I was blown away and understood that he too supported Reagan. My ass was soooo covered. I learned a lot that day."

why do you think he was acting in a partisan way? perhaps he meant it, and was just protecting your right to express yourself

you are looking for integrity. perhaps there you got some

Wed, 12/17/2014 - 00:37 | 5561752 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

 

I used to make fun of you because all you would do was knock television and democrats.

Your posts are now often worthwhile and make a lot of sense.

Same here, and I have to agree with you, MsC.

Just needed to say that. You have really evolved as a presence here. I don't agree with everything you say, but it is all very much worth considering.

Whether I agree or disagree with him (mostly agree lately), I know his heart is in the right place. Unlike a disturbingly large number of Americans, he hasn't lost the ability to distinguish between right and wrong.

Wed, 12/17/2014 - 01:36 | 5561842 MsCreant
MsCreant's picture

I enjoy your humor. We are both in it for the LOLs, sometimes much to our detriment. 

Wed, 12/17/2014 - 06:31 | 5562109 Ghordius
Ghordius's picture

I agree with the sentiments, here, but Freddie still attacks for example Norway for being a NATO member, with the Norvegian NATO Secretary having talks with the Ukrainian government, and then elliptically making a NATO=ZATO connection back to "the tribe"

and that's too simple, for me. And part of the problem. Perhaps a "disturbingly" large number of Americans have not lost the ability to distinguish between right and wrong. Our problem with American views is not there. It's in the simplicity of making right=white and wrong=black and then painting the whole world in black and white, friend or foe

Our Old World is in grays. All kinds of grays. Freddie's New World is binary, black or white, "either you are my friend or my foe, and the enemy of my enemy is my friend", and all that

to come back to Norway... it's utterly indifensible. The Nazis made a wonderful example of this case, in their invasion. They simply lack the population for that

so from the point of view of Norway... there is no other choice then partaking to NATO, or some equivalent which is not a choice anyway

similarly, what are the options for Ukraine? It's fine to "rah, rah" about Nazi-Yatz, but what are the frigging options?

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