from GKM Dr Stephen Jones
Russia is well on its way to establishing a gold standard for its currency. They did this in response to the US theft of Russia’s bank assets—one of the largest heists in world history. Russia responded in a very positive way by backing its ruble with gold.
The US-European sanctions blocked all Russian trade in euros and dollars in hopes of shutting off oil and gas supplies to Europe and America. The problem is that Europe needs Russian oil and gas far more than Russia needs the sale. Oil and gas are simply being diverted to new markets in China and India, ensuring no shortages in those countries.
Russia then demanded rubles for oil and gas sales to Europe. Somehow, their wise men failed to see that coming. They went into a tizzy and blamed Russia for trying to get around the sanctions. They sound like grade school children who blame others for the consequences of their own actions. The West seems to expect Russia to give them free oil and gas, because the West is no longer allowed to pay for it in dollars or euros!
The stupidity of our leaders is downright embarrassing. The sanctions have backfired. Western companies can’t sell their goods to Russians anymore, so Russia has more money than it knows what to do with. Because the prices of oil and gas have skyrocketed, Russia is now awash with cash. They can even offer a $25/barrel discount to “friendly” nations and still make far more profit than before the sanctions. The West has really shot itself in the foot.
Before the Ukraine war, it took 80 rubles to equal 1 dollar. When the sanctions were imposed, the ruble dropped to 150:1. Westerners assumed that Russia’s economy would collapse. They did not understand the effect that the sanctions would have. They assumed it would hurt Russia, but in just a month, things turned completely around, and the exchange rate is now 65 rubles to the dollar.
In other words, the ruble is now stronger than it was before the sanctions were imposed! In fact, the ruble is now the best-performing currency in the world.
The utter failure of the sanctions is largely being hidden by western propaganda, but the evidence speaks for itself. Unlike in Europe and America, Russia will have no oil shortage, no gas shortage, no food shortage. As the world is now discovering, Biden has sanctioned Europe and America, and we are now beginning to suffer the consequences of his ill-advised actions. Biden blames Putin, but the fact is, Putin has not imposed any sanctions on Europe or America.
To make matters worse, Ukraine recently cut off the gas supply being piped from Russia to Europe. It seems Ukraine decided to impose its own sanctions against Europe. That pipeline had been supplying a third of Europe’s imports of Russian gas. If this continues, Europe’s business will soon be shut down as soon as their supplies run out.
Is this really a war against Germany? Is the German economy too strong and dominant? Did the US government want to weaken Germany in order to strengthen the US economy? I do not know if this is a deliberate policy to destroy Germany’s economy, or if it is just the inevitable result of old-fashioned stupidity.