Understanding galloping inflation per Thierry Meyssan
"The Kremlin, which is no longer paid by the West, has begun to sell its production, especially its hydrocarbons, to other buyers, particularly China. The exchanges that can no longer be made in dollars are made in other currencies. As a result, the dollars that their customers used to use are flowing back to the United States. This process had already begun several years ago. But Western unilateral sanctions have accelerated it sharply. The huge amount of dollars accumulating in the US is causing a massive price increase. The Federal Reserve is doing everything it can to share it with the eurozone. The price increase is spreading at high speed across the entire Western European continent.
The European Central Bank is not an economic development agency. Its main task is to manage inflation within the Union. it cannot slow down the sudden rise in prices at all, so it tries to use it to reduce its debt. The Member States of the Union are therefore invited to compensate for the drop in purchasing power of their "citizens" by lowering taxes and providing benefits. But this is a never-ending circle: by helping their citizens, they tie their hands and feet to the European Central Bank, they chain themselves a little more to the US debts and become even poorer.
There is no remedy for this inflation. This is the first time that the West has had to mop up the dollars that Washington has recklessly printed for years. The rise in prices in the West corresponds to the cost of imperial spending over the last thirty years. Today and only today is the West paying for its wars in Yugoslavia, Afghanistan, Iraq, Libya, Syria and Yemen.
Until now, the United States killed anyone who threatened the supremacy of the dollar. It hanged President Saddam Hussein for refusing it and looted the Iraqi Central Bank. They tortured and lynched the leader Muamar el-Gaddafi who was preparing a new pan-African currency and looted the Libyan Central Bank. The gigantic sums amassed by these oil states disappeared without a trace. The only thing we saw was GI’s taking tens of billions of dollars wrapped in large garbage bags. By excluding Russia from dollar trade, Washington itself has brought about what it so feared: the dollar is no longer the international reference currency.
The majority of the rest of the world is not blind. It has understood what is happening and has rushed to the St. Petersburg Economic Forum, then tried to register for the virtual Brics summit. They realize -a little late- that Russia launched the "Partnership of Greater Eurasia", in 2016 and that its Foreign Minister, Sergei Lavrov, had solemnly announced it at the UN General Assembly, in September 2018 [3]. During four years, quantities of roads and railroads were built to integrate Russia into the networks of the new "Silk Roads", land and sea, imagined by China. It was thus possible to shift the flow of goods within a few months.
The fall in the value of the dollar and the shift in the flow of goods are causing an even greater rise in energy prices. Russia, which is one of the world’s leading exporters of hydrocarbons, has seen its revenues increase considerably. Its currency, the ruble, has never been in better shape. In response, the G7 has set a price ceiling for Russian oil and gas. It ordered the "international community" not to pay more.
But Russia is obviously not going to let the West set the prices of its products. Those who do not want to pay market prices will not be able to buy them, and no customer intends to go without to please the West.
The G7 tries to organize, at least intellectually, its supremacy [4].. This no longer works. The wind has changed. The four centuries of Western domination are over."
https://www.voltairenet.org/article217555.html
