I’ve been too busy to sit down and hammer out any of the long posts I’ve planned recently, but just to show that I’m not dead I’ll share a rather amusing article with you readers, courtesy of an old friend of mine.
Take a look at it and you’ll see that it seems Sputnik News plans to spar with the fake Sputnik Twitter account and even Russia in Your Face! for the title of most hilarious Russian parody news site ever.
Now I don’t think it makes sense to go through this line by line and debunk it. It is so out of touch with reality it might as well be a flat-Earth argument. It’s worth commenting on a couple of key details, however.
First we’ve got another anonymous writer. This seems to be getting more popular with RT and Sputnik lately. This time it’s “The Tactical Investor,”who I’m guessing is probably Zero Hedge or someone who reads his work. Oddly enough the name seems to link to a legitimate investment advice site of some sort, but if they did indeed prepare this article I wouldn’t take any of their financial advice. Hell I wouldn’t buy a ham sandwich from this son of a bitch.
The article is of course about the “worthless dollar,” yet it’s definitely not worthless to point out that Russia holds substantial dollar reserves and also increased its share of American debt in 2015. For example in December of that year, the Russian government owned $92 billion in US Treasury Securities. This is something you don’t do when you think a nation is crushed by its sovereign debt and its currency is on the verge of worthlessness.
Of course the crux is the article of the long-held fap fantasy of the Kremlin and its ideologues, which is the abandonment of the dollar for trade in favor of local currencies. Check it out:
“One of the reasons the US has engaged Russia is that it has made it a mission to wean itself from the dollar. Putin openly stated that Russia should sell its oil and gas in ruble. This does not sit well with the US for many other nations could follow in Russia’ footsteps as it is a dominant and powerful player in the energy sector.”
If Russia has had a mission to wean itself from the dollar, it has failed spectacularly just as it failed in its mission of modernization, fighting corruption, and nanotechnology. For one thing, Russia is still selling oil and gas in dollars. At the moment there’s actually some benefit for them to do this. Kremlin politicians and pundits never shut up about switching to local currencies in trade, and yet every time they sign a big energy deal to great fanfare (which then immediately runs into obstacles and stalls), the buyers want to pay in dollars. It was that way with Turkey, it was the same with China. Early last year Putin visited Egypt and there was talk in the Russian media of Egypt switching to trade in local currencies. Guess what- the Egyptians denied it.
Next, a note about their little theory regarding Saddam Hussein, Gaddafi, and selling oil in euros. First of all, the theory about the former is disputed. In any case, the claim is so widespread it begs the question- if the danger of Saddam selling oil in euros was so great because it would cause other oil producers to follow suit, why didn’t those oil producers perceive this and start doing exactly that? Why didn’t Russia take the lead against the dollar at the time? Oh right- oil prices shot up and Putin benefited from the Iraq invasion, as did Gazprom (which has operations in Iraqi Kurdistan). They give no evidence for Gaddafi planning to switch over to the euro. The pretext to intervening in Libya was an uprising inspired by Arab Spring, which did not start in Libya. Was Tunisia planning to sell oil in euros? Was Egypt’s Mubarak, a long time ally of the US, planning to sell oil in euros? Hmmm… Looks like this hypothesis might be flawed.
And for a few more laughs, look at some of their “analysis.”
1) The US is desperate and they are doing their best to portray power, but instead it is coming off as weakness. But a desperate animal is bound to do even more desperate thing;
Hey can someone remind me of the definition of psychological projection? Anyone? Anyone at all? Replace “US” with Russia and that sentence suddenly makes perfect sense.
2) Now that China and Russia have joined forces, they have become a lethal combination. China has the money and the economy and Russia has the guns and firepower.
Just one little problem there, slick- Russia and China haven’t joined forces. China has signed exploitative trade deals with Russia. It’s also suffering itself under an economic and approaching demographic crisis. This makes it all the more laughable that the author says they have the money and the economy. First, why doesn’t Russia have it? Second, China’s military is considerably bigger. Lastly, what do they expect to happen? Russia’s going to go to war and China’s going to pay for it…just for the pretext of “standing up to the US?” These people live in Fantasy Land, plain and simple.
In the mean time if you have a surplus of worthless US dollars, I’d be happy to take them off your hands. The email address for the Paypal account is in the FAQ.