pcr has some good ideas for the russians, if they would only listen and learn;

Russia and China Should Go Their Own Way

The West is the last thing they need

Paul Craig Roberts

Yesterday Russia created a new world. The Hegemon is dead. Today Russia and China should begin their disengagement  from the West, while remaining wary that the Satanic concoction is capable of striking with nuclear weapons while in its death throes. There is nothing in the West worth having.  The countries have already given away their most important industries to the Chinese and renounced the civil liberties of their citizens.  As the Covid mandates prove, the West no longer believes in the values that it mouths.  People who exercise, or attempt to exercise, their constitutional rights to free speech and freedom of association are branded “domestic terrorists.”  Their voices are suppressed, they are fired from their jobs, their medical licenses are taken away, they are arrested and imprisoned.  The Western World has been transformed into a hellhole of tyranny.

Russian economists, brainwashed by American neoliberals, are, without realizing it, among Russia’s worst enemies.  They have been indoctrinated to believe that Russian economic development depends on access to Western financing.  This is total nonsense. 

Several years ago Michael Hudson and I made it clear that to rely on foreign loans, foreign capital, to finance its development was the stupidest thing Russia could do.  We asked, publicly, the Russian central bank how it was going to spend borrowed dollars or euros in Russia on development projects?  The projects are, of course, paid for in rubles as that is the national currency.  What magically transforms the dollars and euros into rubles?  Does the central bank use the foreign currencies Russia has borrowed to buy up rubles in the currency market?  Why do that when the central bank can create rubles?........read more..........