Emerging G8 has bypassed G7 in terms of GDP
Col. Richard Black (ret.) was former head of the US Army’s Criminal Law Division at the Pentagon and served in the Virginia legislature first as Representative and then as a State Senator and recently, 18-19 June, he addressed the topic “There Can Be No Peace Without the Bankruptcy Reorganisation of the Dying Trans-Atlantic Financial System.”
He said: “The sanctions war has failed. The entire financial might of the Western World was unleashed against Russia. The Biden administration swore that the Russian ruble would be crushed into dust. But today, the ruble is stronger than before the war. This year, it has been the strongest of all currencies. Russian inflation peaked around 15 per cent and is expected to subside. But as their inflation tops out, Europe’s and America’s have just begun skyrocketing dangerously. The price of bitcoin dropped 5,000 points just overnight. The stock market is becoming extremely erratic and rocky. The Economist reports that Russia is generating a record trade surplus, with a billion dollars a day flowing in from oil and gas. Russia’s US$250 billion trade surplus more than doubled its surplus in the year before the war. Despite sanctions, Russia has forged stronger ties with China, India, South Africa, Iran, Brazil, Saudi Arabia; all of which continue trading at enhanced levels with Russia.”
Other voices are speaking too.
“According to [Russian State] Duma President Volodin, the emerging G8, of Russia, China, India, Indonesia, Brazil, Mexico, Iran, and Turkey, already has bypassed the G7 in terms of the GDP. Other organisations and nations are working toward a new model of a global order, such as the Shanghai Cooperation Organisation, the Collective Security Treaty Organisation, ASEAN, and many nations in the Global South. What all of these countries are aiming at, is the wish for common poverty alleviation, real development of their physical economies, national sovereignty, the right to choose their own model of social and economic development, and cooperation in their mutual interests….”
“So, the ‘democracies’ are really only the US, Great Britain, the EU (which, however, is divided), Japan, Australia, and South Korea. So when, at the end of this month, the annual
NATO Summit meets in Madrid to present a plan for a Global NATO and a new security doctrine, without a real economic development plan, naturally, which it certainly will not have,
it will fail to address the actual needs of a world faced with famine, pandemic, and economic chaos.”
The Australian Alert Service 29 June states: “Anthony Albanese has taken the reins of an Australian government apparatus that is tied closely into the Anglo-American war machine, and the failing City of London-Wall Street financial system.
While the new PM hasn’t had a chance to do much yet, the early signs on foreign policy are alarming. His participation this week in the NATO summit in Spain, the alliance that deliberately caused the current Ukraine conflict, and his rhetoric pledging Australia will work with its NATO “allies and partners, globally and in the Indo-Pacific”, combined with his refusal to repeat the public support he expressed as Opposition Leader for releasing Julian Assange, “demonstrate the strength of our bonds,” he was reported as saying.
Source: CEC Australian Alert Service, 29 June 2022, Vol. 24, No. 26.
from Alison Ryan