Another @BiffSpackle exclusive:
Yesterday Secretary of State and flip-flopper extraordinaire John Kerry advised Russia that Vladimir Putin has until Monday to pull back his forces from Ukraine. Failure to do so would lead to serious repercussions. Kerry was light on details, but we can assume he was talking about some sort of economic sanctions:
Sen. Lindsey Graham, a South Carolina Republican and a top critic of President Obama’s foreign policy, asked what the administration would do if Russian forces advance farther into the eastern area of Ukraine, and the new government in Kiev asks the U.S. for weapons to fight the Russians.
Kerry responded carefully, saying “we have contingencies – we are talking through various options that may or may not be available.”
“Our hope is not to create hysteria or excessive concern about that at this point in time,” he said. “Our hope is to avoid that, but there’s no telling that we can.”
It’s quite obvious, based on Kerry’s statement, that the Obama Administration really has no idea what to do, as they are still talking through “various options,” something that probably should have been worked out well before President Obama began slinging rhetoric over the crisis.
What the Obama administration assumes will happen is that they’ll force Russia into compliance by coming after their economy. Obama will hit the Late Night TV circuit to tout his success, we’ll all laugh about it, and then go on our merry way. Putin will be left embarrassed and laying in the fetal position sucking his thumb. At least that’s the plan.
But two can play at that game and China, which has stood by Russia’s show of force in Europe since the get-go, has now upped the ante.
It’s a brilliant move designed, once again, to show the world that President Obama and the United States are no longer running the show.
“Sanctions could lead to retaliatory action, and that would trigger a spiral with unforeseeable consequences,” warns China’s envoy to Germany adding that “we don’t see any point in sanctions.” On the heels of Merkel’s warning that Russia risked “massive” political and economic damage if it did not change course, Reuters reports ambassador Shi Mingde urged patience saying “the door is still open” for diplomacy (though we suspect it is not) ahead of this weekend’s referendum. Russia’s Deputy Economy Minister Alexei Likhachev responded by promising “symmetrical” sanctions by Moscow. So now we have China joining the fray more aggressively.
China’s top envoy to Germany has warned the West against punishing Russia with sanctions for its intervention in Ukraine, saying such measures could lead to a dangerous chain reaction that would be difficult to control. In an interview with Reuters days before the European Union is threatening to impose its first sanctions on Russia since the Cold War, ambassador Shi Mingde issued the strongest warning against such measures by any top Chinese official to date.
“We don’t see any point in sanctions,” Shi said. “Sanctions could lead to retaliatory action, and that would trigger a spiral with unforeseeable consequences. We don’t want this.”
Using her [Merkel’s] toughest rhetoric since the crisis began, she warned in a speech in parliament on Thursday that Russia risked “massive” political and economic damage if it did not change course in the coming days.
Russia’s Deputy Economy Minister Alexei Likhachev responded by promising “symmetrical” sanctions by Moscow. But Shi urged patience, saying the door for talks should remain open even after a referendum on Sunday in which Ukraine’s southern region of Crimea could vote to secede and join Russia. Merkel and other western leaders have denounced the referendum as illegal and demanded that it be canceled.
“We still see a chance to avoid an escalation. The door to talks is still open. We should use this possibility, also after the referendum,” Shi said.
The White House’s deadline for Russia to pull back is Monday.
Will Obama blink again, as he did in Syria?
Let’s remember that China holds trillions of dollars of US debt. All they have to do is hint (not even actually do it) that they will pull back on Treasury purchases and we’re toast within days.
We shouldn’t be at all surprised if, on Monday, Vladimir Putin thumbs his nose at the west again and actually sends his troops across the Crimean border into Ukraine.
One thing’s for sure. President Obama’s foreign policy has been a complete and utter disaster on every front. Either this destruction of America’s worldwide credibility is pre-planned or there is a gaggle of idiots in charge at 1600 Pennsylvania Avenue. Perhaps both.
The Final Constitutional Option: Robert Berry
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The Most Corrupt Village in America: Daniel Greenfield
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Shocking IRS Abuse, the Case You Haven’t Heard About: Sara Noble
IRS Employee Stole $ 326,000 through Identity Theft : Daniel Greenfield
Climate & Energy
Polar Vortex: Great Lakes Freezing Over in 20-Year Record: Breitbart
Global Warming: Don’t Confuse Us with the Facts: Timothy Birdnow
Black Swans? Dispatches from the front line of climate change.: Tony Brown
Michelle Malkin Girds for 2014 #GOP Civil War: AmPower
My letter to the Russian Embassy regarding Mike Lawlor.: SSI
What Rosie O’Donnell’s son did to annoy his ‘left-wing, liberal, pacifist mother’: BPR
Obama’s partners in peace air simulated attack on U.S., Israel: Joel Pollak
McCain Explodes at Syrian Christians Who Described Atrocities of Rebels He Wants to Arm: RWN
The Muslim Conquest of India: Janet Levy
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Swiss to Vote on Sunday on Whether to Restrict (Legal) Immigration: ¡No Pasarán!
Soros’ ex-GF goes berserk during deposition; smacks him in the head: NYDN
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Rogin Destroys Psaki Over ‘Track Record’ Of Obama Political Appointees Failing As Ambassadors: WFB
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Sci-Tech (courtesy BadBlue Tech News)
New SooperVideo! Obama’s Facebook ‘Look Back’ Video!!: Sooper Mexican
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Image: First Winter Olympics gold medal goes to American
Today’s Larwyn’s Linx sponsored by: Help Fire Mitch McConnell: Support Matt Bevin for U.S. Senate
QOTD: “The federal government currently runs more than 80 means-tested welfare programs that provide cash, food, housing, medical care and targeted social services to poor and low-income Americans. Government spent $ 916 billion on these programs in 2012 alone, and roughly 100 million Americans received aid from at least one of them, at an average cost of $ 9,000 per recipient. (That figure doesn’t include Social Security or Medicare benefits.) Federal and state welfare spending, adjusted for inflation, is 16 times greater than it was in 1964. If converted to cash, current means tested spending is five times the amount needed to eliminate all official poverty in the U.S.” —Robert Rector, via Marc Faber
Back in the mid-2000′s, when jobs were plentiful and everyone was concerned with buying zero-interest homes, new cars and taking luxury vacations, Mike Maloney from the Hidden Secrets of Money was warning of the financial and economic destruction to come. In his assessment, a crisis was imminent:
First the threat of deflation (1), followed by a helicopter drop (2), followed by big reflation (3), followed by a real deflation (4), and then followed by hyperinflation (5),
We now know that Maloney was right.
In 2008 we saw asset valuations from stocks to commodities lose significant value. It was a deflationary impact so threatening that the U.S. government was on the brink of a collapse which sunsequently led to members of Congress being warned that if nothing was done there would be tanks on the streets of America. This was followed by an unprecedented bailout package, which included an astronomical infusion of cash by the Federal Reserve under the direction of Chairman Ben Bernanke. Since then we’ve seen a massive reflation in a system where the economic fundamentals have only gotten worse – stock markets have hit all time highs, home prices have seemingly re-stabilized and personal debt is approaching 2007 levels.
Mike’s first three stages have, without a doubt, now come to pass.
If his forecast is correct – and it sure seems like it – then we will soon enter the next stage of this crisis and it will involve yet another deflationary hit to global asset prices. We know how destabilizing such an event can be from our country’s experience during the Great Depression. But as Mike notes in a follow-up to his original forecast, the next event will be nothing like what we saw during the 1930′s:
I think it’s going to be a whole lot worse than the 30′s…
People don’t understand the scale of the emergency that’s going on right now.
They think that Ben Bernanke fixed things and that the economy is back on track, but the Fed is still doing emergency measures. They’re printing $ 85 billion a month – that’s over a trillion dollars a year… and people do not grasp the scale of the emergency measures that they’re doing right now.
There was just a little over $ 800 billion of base money in existence before the crisis in 2008… that’s 200 years worth of currency creation… So that’s 0.8 trillion… now we create a trillion every year… that means we’re creating more than 200 years of currency every single year.
…For him [Bernanke] to say that they’re not going to taper is an admission that they can never, ever taper… If they do the whole thing comes crashing down.
I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history.
Hyperinflation on this scale, originating in the United States, will lead to immediate global consequences. First, our systems of commerce break down. Next, the government will be left with no choice but to implement a state of martial law, something they have been war-gaming for years in anticipation of this very event. And finally, as noted by many contrarian experts, the world could very rapidly descend into widespread global conflict.
We are, by all measures, on the very precipice of what is potentially the most enormous financial, economic, and social collapse in the history of the world.
Both scenarios – deflation and inflation – are going to impoverish this nation and make it nearly impossible for people to acquire the basic necessities for life. One hundred million people are already struggling right now and are only capable of paying their rent and putting food on the table because of direct government assistance.
When the system collapses that assistance will not be enough and those who failed to prepare by stocking long-term food stores, gold and silver, and barter supplies are going to be living in horrific conditions.
This is big – and most people are completely ignorant to the possibility.
The New American | Russia is giving Assad further military aid.