Dotard, segregationist Biden declared that the ruble would be rubble."We're waging an all-out economic and financial war on Russia," Le Maire told France Info radio. "We will cause the collapse of the Russian economy." https://www.reuters.com/world/france-de ... 022-03-01/
By the end of the year the Ruble was the strongest currency in the world. This due to soaring commodity prices. Russia is a massive producer of raw commodities. And as it turns out if you sanction a commodity producers the effect is that commodity prices will rise.“As a result of these unprecedented sanctions, the ruble almost is immediately reduced to rubble,” President Joe Biden said in Poland last week. https://www.politico.com/news/2022/03/3 ... s-00021850
Being forced out of using the dollar the world is now de-dollarising.The main reason for the ruble's recovery is soaring commodity prices. After Russia invaded Ukraine on February 24, already high oil and natural gas prices rose even further.
"Commodity prices are currently sky-high, and even though there is a drop in the volume of Russian exports due to embargoes and sanctioning, the increase in commodity prices more than compensates for these drops," Tatiana Orlova, lead emerging markets economist at Oxford Economics, told CBS MoneyWatch recently. https://www.cbsnews.com/news/russia-ukr ... ioms-2022/
Producing the situation where Britain now has the most perisistant inflation in the world.Russia is pulling in nearly $20 billion a month from energy exports. Since the end of March, many foreign buyers have complied with a demand to pay for energy in rubles, pushing up the currency's value.
Britain has the biggest problem with persistent inflation in the developed world, Bank of America's chief UK economist has said.
Robert Wood predicted the Bank of England will increase interest rates in June once again in June as food prices rise at their fastest pace in 45 years.
Bank of America had previously expected no more rate increases after May but changed its call after more "hawkish-than-expected forecasts" in Thursday's Monetary Policy Report, in which the Bank of England lifted its growth forecast for the UK by a record amount. https://www.msn.com/en-gb/money/other/u ... r-AA1b58te
With this the Spectator has written a bitter article, conceding defeat in it's economic war to destroy Russia.
https://www.spectator.co.uk/article/why ... as-failed/Few people in the West are aware of how badly this aspect of the war is going. Europe has itself paid a high price to effect a partial boycott of Russian oil and gas. UK fossil fuel imports from Russia totalled £4.5 billion in 2021; in the year to January 2023 that was – officially – down to £1.3 billion. In 2020 the EU sourced 39 per cent of its gas and 23 per cent of its oil from Russia; in the third quarter of last year this was down to 15 per cent and 14 per cent respectively.
But these figures do not explain the scale of the failure to damage the Russian economy. It soon became clear that while the West was keen on an economic war, the rest of the world was not.
We see not only did the West fail to destroy Russia's economy but they failed to isolate Russia internationally. Not only is Russia exporting oil to India and Russia but it's being exported back to Europe. Europeans are in effect buying Russian oil whilst paying India for the service of doing so.
Worse, some of the Russian oil exported to India appears to have been siphoned back to Europe, with a rise in the number of ships taking refined oil from India through the Suez Canal.
Whilst Russian's are still able to access high end commodities from European nations. They too are similarly diverted through former Soviet republics
ibidThe importing of German motor vehicles to Kazakhstan, for example, rose by 507 per cent between 2021 and 2022 and to Armenia by 761 per cent. Exports of chemical products to Armenia increased by 110 per cent and to Kazakhstan by 129 per cent. Sales of electrical and computer equipment to Armenia are up 343 per cent. What happens to these goods once they reach these former Soviet republics is not easy to establish, but one likely explanation is that they end up in Russia as diverted trade flows. And even if such commodities are not formally being re-exported, many Russian citizens retain visa-free access to those countries and are able to take goods across the border.
The Spectator forced to finally admit:
Finally culminating in the crescendo that the Degenerate West, having overestimated itself on economy and ability to rally global public opinion it can no longer use economic sanctions as a weapon.The West embarked on its sanctions war with an exaggerated sense of its own influence around the world. As we have discovered, non-western countries lack the will to impose sanctions on either Russia or on Russian oligarchs. The results of the miscalculation are there for all to see. In April last year, the IMF forecast that the Russian economy would contract by 8.5 per cent in 2022 and by a further 2.3 per cent this year. As it turned out, GDP fell by just 2.1 per cent last year, and this year the IMF is forecasting a small rise of 0.7 per cent.
Erasing Victory DayIt was not necessarily wrong to declare economic war on Russia. The country has suffered harm from western sanctions, even if nothing like on the scale that we imagined we could inflict. But if the West is thinking that in future it can fight wars purely by economic means, without bombs or bullets, it is badly mistaken.
With Victory Day being celebrated in ernest in Russia it is telling how the West wants to erase victory day. Banning Russian flags in Berlin for instance.
https://www.nytimes.com/2023/05/08/worl ... flags.html
Yet the progeny of the Hitlerites lickspittles in Baltic states are allowed to parade freely for the Waffen SS.
https://defendinghistory.com/latvia-is- ... -ss/113660The common denominator in these and other local reports in Latvian and English? They all exclude any mention that the World War II forces being glorified were Latvia’s Waffen SS, all of whom swore the oath of loyalty to Adolf Hitler, and many of whose members were “recycled” Jew-killers from the slightly earlier “Latvian Holocaust heyday” of 1941; moreover there’s no great mystery about what they did when they’d find a Jewish citizen in hiding.
This is because the Soviets did the utmost to defeat fascism during World War 2.
Whilst the Britain, France and United States did the utmost to start the war, prolong the war and then to gather up the Nazi remanants after the war and put them back to work for the CIA or NASA or European Union. Reinhard Gehlen, Gestapo leader, was put back to work under direction of the CIA for instance into gathering up the defeated forces of fascism in Eastern Europe.
The Soviets killed 7/8 Nazi soldiers on the Eastern Front and fought genuinely to destroy and rid fascism off the earth. Britain was riven with pro-nazi sympathisers. Rudolph Hess, 2nd only to Hitler in Nazi Germany flew to Scotland in the middle of the war to attempt a peace deal. Britain was riven with nazi sympathisers and it is only due to Hess unable to land at Duke Hamiltons manor that he was picked up by anti-nazis in Britain.
During that same period (the Phoney war) the British drew up Operation Pike in which they planned on bombing Soviet oil fields in 1940.
Before World War 2 was even over the British again drew up Operation Unthinkable: the plan to re-arm the Werhmacht and invade the Soviet Union.
https://www.rbth.com/blogs/2013/06/13/o ... _iii_26091
A genuine examination of history shows how the forces of fascism were not smashed by USA's entry into World War 2 (and who still attempt to take the credit for destroying Nazi Germany and Imperial Japan) but rather those fascist forces were gathered up and set to work for NATO. Entire books have been written on this.
One outstanding one is The Empire On Which The Black Sun Never Set by Cynthia Chung. Or
Whilst European nations set to ban Victory Day it was left to Kim Jong Un to send congratulations to Russia on Victory Day.
http://www.pyongyangtimes.com.kp/blog?p ... 05dc432b96He expressed belief that the strong and righteous Russian people would smash all challenges and threats by hostile forces and as ever win victory in the course of ensuring the sovereignty and dignity of the country and stability of the region under the leadership of the Russian President. Availing himself of that opportunity, Kim Jong Un extended warm militant greetings once again to the President, army and people of Russia who have courageously turned out in the sacred struggle to realize international justice and defend global peace against the high-handed and arbitrary practices of the imperialists.