Monday, December 22, 2014

Here uber economist Paul Craig Roberts is interviewed for his views of Washington’s pressure on Russia and where it all may end. PCR responded that western financial institutions, e.g., the World Bank, IMF, and SWIFT currency transfer bank have been exploitive of the rest of the world, which therefore may soon abandon them. Asked what may happen to Russia, PCR explains that the “stupid” people running Washington have unknowingly invited all manners of “black swans,” i.e., unexpected events of large magnitude and grave consequences. For example Russia could retaliate for pressure on the ruble by delaying payment of its debts to European banks in 2015, which would promptly crash virtually all of them. Alternately, Russia may buy gold on the paper-gold COMEX and demand payment in bullion, as is anyone’s right. And if they are ever refused, COMEX (representing 80 times more paper gold than its supposed bullion bank) would crash, whereupon the demand for (and dollar price of) gold bullion would sky rocket. Another thing Russia could do would be to use its dollar holdings to buy up all the western world’s (greatly devalued) rubles and subsequently demand that any one dealing with Russia must either buy revalued-in-dollars rubles or be members of the BRICS countries, which would pay with their own currency at mutually agreed exchange rates. Finally, although PCR doesn’t think he would do it, Putin could announce that Russia will no longer sell energy to NATO, which would result in its instant disintegration as a military threat.

 Original Here

Today Dr. Paul Craig Roberts warned King World News that the Russians are going to unleash what he called the "ultimate black swan" against the West.  Dr. Roberts also discussed how a terrifying series of events would then bring the Western financial system to it knees as the banking system completely collapses.

Dr. Roberts:  “I was listening to the news today and there were all these self-righteous people just happy as all get out that they had finally stomped Russia into the ground and ‘Russia is now finished,’ and Russia was broken and ‘would soon be an American vassal state where it belongs.'  And I was listening to this rot and got to thinking, ‘How can people be so utterly stupid?’  But they are, and they are just as stupid in Washington.

And in the meantime, as part of this process, Eric, we may see Russia unleash black swans that bring down the Western house of cards….

Blogger's Note: There is an audio interview associated with this which could not be embedded here.  So you must click the link below to play it.  The photo below the link is an image of the functional audio that you will find at the new site.

You will also find Doctor Roberts' very impressive curriculum vite here.

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