14 Comments

Thank you for posting the link to this extremely important article by Pepe on Sputnik.

It's the second most important news for 2024. The only news that's more important is the ongoing genocide in Gaza and the added tragedy that the world is doing nothing to stop it, except for the Houthis. Even the defeat of the West in the Ukraine, which will be a big story later this year, doesn't compare to the other two, if only because that defeat became obvious as "a done deal" in 2022 and 2023.

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There's lots of discussion coming on the "Unit" and lots of Qs. Hopefully, we can get a much better understanding if this trial balloon as it doesn't satisfy a few key elements in a genuinely public international monetary trading system. For example, the Unit is also a commodity to be speculated upon, and that's not good.

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Plus its block chain, which is a huge (unnecessary) electricity and computing burden i.e. it's not a medium / long term viable currency.

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May 14
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Feedback I've received punctures the trial balloon. More later.

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May 14
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I share your cynical forecast re the Gaza floating harbour. Unless of course some other great powers decide to also build a floating jetty to deliver aid at the same time and enforce a peace. It is possible given the momentum rising at the UN and international legal circles but - I'll believe that when I see it.

The US floating jetty is cover for excluding Palestinian return with USA playing a lead role and pretending otherwise.

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May 14
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Thank you. It is just possible that Gaza will end up similar to Custer's last stand and it will be nuttyahoo and biden getting cut down to size. If Putin and Xi discuss devilish cunning tactics next week and come up with cover for the Arab leaders that matter, then there is a chance that we might be in for a MIGHTY interesting time over the next few months. I would have thought that for China, tackling the hegemon and its Zionist thugs in West Asia is sure better than defending Taiwan from their malign mischief but time is on China's side here as the attention span of a toad is what circulates in the neocon mind. The Arabs will absolutely back a winner but it has to be a clear winner. To date we see the insipid decline of UKUSA and the rise and rise of Iran and its allies Hezbolah, Yemen and perhaps Hamas. The Iraqi militia allied to Iran are also in for a stoush. But the USA outlaw empire is a mighty nasty piece of work still. In the geopolitical balance sheet the Global South has really come together in common cause against genocide, particularly western genocide. There is room to move and breathe again for many nations that dared not take sides.

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Karl - this was news to me and I guess many people who find the whole de dollarisation process very hard to understand

But thank you for posting this

Pepe E uses an exuberant language that is more difficult to follow than your's or Michael Hudson's

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It's his Latin blood! Me, I'm mostly Germanic. I left notes with both Pepe and Dr. Hudson. Psychohistorian did some grunt work and posted it at MoA. We have a Zoom meeting Wednesday and will discuss it further. I expected something different, and this is "Unit" is only a trial balloon.

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Thank you Karl in these times every day seems to embody a month or year of change. Moving away from the dollar is a fine trend but guess who else doing that...

The high level scammers are unstoppable and Whitney Webb examines their game:

https://www.youtube.com/watch?v=U_f96wbOcOM

It is worth the 30 minutes.

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It appears the unit ploy is one of those being all smartly packaged and such. A more formal refutation will be made once I gather the evidence for one.

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Thank you for the run down. Appreciated the link to Pepe's article. Hadn't seen it. Read the White Paper. It's super short. Both answers and begs a lot of questions.

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Yeah, lots of Qs. When I have more definitive info, I'll post an article.

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Sounds promising, though I confess to not understanding anything in the article at all!

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Pepe's article, yes?

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