U.S. Now At War Against China’s Financial system; NATO Prepares for Nuclear War v. Russia.

by Eric Zuesse, The Duran:



7:57- “The United States is cranking up now for an outright war against China and against its entire economic and financial system.”

This is explained by Alexander Mercouris in the first 8 minutes (0:00 to 7:57) of his video on June 17th that’s titled “US sanctions China via Russia. EU agrees to cover $50B loan”. From 8:00 to 13:00, he explains that, in the United States, “The Presidency is just becoming decoration, as is Congress, and the power is elsewhere; it is with the Permanent Government of the United States, the appointed officials in the bureaucracy and the other people who work with them.” The allegation here is that this anti-Russia sanctions action against China by the U.S. Treasury Department, is being imposed without anything new coming from the President, or any vote in Congress.

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(Mercouris is referring to such things as this, and this, and this, and this, as constituting war by the U.S.’s Permanent Government against China’s economy and financial system.) U.S. Treasury Secretary Janet Yellen places the U.S. Government onto a war-footing against China’s economy, in such a way that even if Biden or a future President Trump were to want to end it (which is extremely unlikely), Congress would first need to end all of the existing anti-Russia sanctions; and, so, that will be practically impossible to do (because the Congress is just as much controlled by the people who control the Permanent Government as are the appointees to the top level of the federal bureaucracy). (Presumably, the appointees were chosen so as to carry out the policies that the elected official’s campaign megadonors had donated to that candidate for; and, in this example, Yellen was selected as the Treasury Secretary so as to carry out policies for U.S. wars against China and Russia; she is doing her job for the individuals who had hired her boss, Biden, to become the President.) In other words: whomever the elected officials will be after 2024, will, Mercouris says, be mere “decoration,” not the real Government (which U.S. Deep State is now even more firmly in place than it had become when U.S. President Harry Truman placed it in control back in 1945).

Mercouris goes on from there (8:00), to suggest that Trump’s recent statements to his megadonors, that he will replace the income tax by increased tariffs on foreign goods according to whether or not the U.S. Government is in an economic war against a given country — such as against China — would differ from Biden’s policy only in that Biden’s cuts in income taxes and hikes in tariffs against China and other ‘enemies’, would be smaller than Trump’s would be. Of course, if Trump would really use tariff-hikes in order to fund cuts in income taxes, then that would incentivize him to increase the number of America’s ‘enemies’ so as to produce additional tax-income into the federal Treasury so that income taxes could be cut even more than Biden would do. (In any case, transferring from the income tax, which at least nominally hits the rich more than the poor, to increase tariffs, which hike the inflation-rate that hurts the poor more than the rich, would make the billionaires better-off and the poor far worse off, and would therefore serve the political megadonors while hurting the American public.)

At this point, the interviewer, Alex Christoforou, said that the U.S. dollar is reducing and the Chinese yuan is expanding, in international commerce. Mercouris agreed that “this inevitably will happen.” He said that in the end this will economically boost Russia. Mercouris then went on to explain that the EU’s promise now to back up $50 billion more of bonds to Ukraine and guarantee to bondholders full repayment by Ukraine’s government to those new $50B of additional bondholders plus interest, means that if Ukraine will lose its war against Russia, then the EU’s taxpayers will be holding that $50B+interest loss-bag (in addition to the existing c. $300B of Ukraine’s debts to the EU).

Also on June 17th, Bloomberg News headlined “Talks to Rework Ukraine $20 Billion Debt Fail to Yield Deal”, and reported:

Ukraine’s first formal talks on restructuring more than $20 billion worth of international bonds ended without a deal as creditors pushed back against Kyiv’s proposal for debt relief.

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Originally Posted at https://www.sgtreport.com