The pending expropriation of Russian assets worth around 300 billion dollars by the G7 could have further consequences. First of all, it increases the pressure on the BRICs to start building up their own monetary reserve and settlement system (gold-based), to say goodbye to the dollar and euro dominated world of finance. This is the great geopolitical chess game that is slowly but surely bifurcating the world economy into two competing blocs (again).
Now Saudi Arabia (Germans, do You remember the importance of real energy for civilization? Yes, these guys have a lot of it!) has hinted that it might draw the consequences of the expropriation of Russian assets and divest itself of European government bonds which would be really the last thing the highly endebted european socialist would need as yields could put pressure on the green socialist agenda that already has problems financing their nonsense under the shadow of a stubborn Federal Reserve that keeps rates high so far.
Anyone with a little knowledge of the financial markets is aware of the fragility of the eurozone and can imagine that Saudi Arabia has a fairly important and fairly firm geopolitical lever in its hands, depending on the size of the position, which is likely to be several tens of billions of euros. Maybe it's time for another european initiative to destroy its industry to reduce energy demand... Play stupid games win stupid prices!
All these anti NATO states have greater inclinations towards Russia. I doubt a new group is forming up.
Riyadh denied the Bloomberg report, saying it did not threaten to sell euro and French bonds as a way to influence the G7 into not seizing $280 billion of Russia’s frozen assets.
yes, what else can they say? but they have already done it several times before during the Iraq war, if I remember correctly, and also during the Obama presidency. That's the leverage that this strong bloc will have in the future. And it will be played out, you can be sure of that.
I wonder if the rulers of Saudi Arabia have properly thought about the consequences of going against the status quo.
I think the genocide in Gaza serves the same purpose as the bombing of Hiroshima and Nagasaki:
It warns us that there is no limit to the evil that the governments of US and Israel are willing to unleash upon the world if they don't get it their way.
In 1945 they aimed at forcing the world to ratify the Bretton Woods agreement, which wasn't a universal gold standard as many believe, but a dollar standard that benefitted the financial elite and political class at the cost of everyone else.
In 2024 it might be about slowing down the dollar's demise.
"Look carefully at what we do in Gaza. If your country stop accepting the dollar, you might be next."
That's the message.
#UNBAR #RebelUp