Putin Says Western Attempt at Global Dominance Will Fail
Speaking on Wednesday, the Russian head of state proclaimed that the “myth of the Western welfare state, of the so-called golden billion, is crumbling.” Moreover, it is the “whole planet that is having to pay the price for the West’s ambitions, and its attempts to retain its vanishing dominance at any cost,” Putin said.
The fact that the "whole planet is having to pay a price for the West's ambitions" may be true enough but the only way the "myth of the welfare state" can begin to crumble is if;
a) there is a change in reserve currency, which right now is far from happening, and;
b) oil is traded in a currency other than the reserve. Saudi Arabia has stated it is considering accepting Chinese Yuans for oil but for now that continues to be speculative at best.
Needless to say, those are mighty high aspirations from Putin, who has explicitly indicated in the past that the "dollar will collapse" and that the US resembles a "parasite" in relation to its role in the world economy.
He further stated that the decision by several Western powers to freeze Russia’s central bank assets would only serve to irreparably undermine trust in those nations, and make other countries think twice before placing their reserves in the care of those countries. According to him, nearly half of Moscow’s assets were “simply stolen” by the West.
If that's how he sees it, Russian assets being "simply stolen", then something much more damaging than "sanctions upon individuals" is likely in the near future.
One thing is certain, China holds multiple cards under ITS sleeve and the fact they have remained relatively mum for the past few months-olympic peace?-speaks volumes about their pending moves whether they be military (Taiwan, cyber) or economic, of which they possess quite a wild card.
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