By Mac Slavo
No one at the White House will officially admit it, but we may well be sitting on the cusp of a widespread conflagration. To suggest otherwise is simply naive. The chess game is, without a doubt, in full swing.
After having threatened Vladimir Putin’s $40 billion personal fortune with asset forfeiture last week, the United States continues to push forward with a variety of sanctions against anyone and any nation believed to be providing material support to pro-Russian interests. This morning the S&P ratings agency, likely with the support of U.S. officials, fired a shot across the bow of the Russian economy by downgrading the country to just above “junk status,” a move likely designed to scare foreign investment interests and bank capital to flee the country.
Russia retaliated almost immediately by proposing a scorched earth policy reminiscent of their tactical withdrawal against the Germans in World War II. In essence, should the United States continue its attack on the Russian economy and individual wealth, the country will begin to divest itself completely of Western influence by withdrawing all dollar and Euro denominated assets, selling investment bonds of any country supporting the sanctions, and engaging in global trade through exchange mechanisms that do not involve the dollar.