An Outbreak of Public SanityBy David Shavin
June 4—Russia’s National Committee for BRICS Research now has on the front page of its website an EIR article by Paul Gallagher, “Will Credit Finally Be Included in De-Dollarization Dialogue?” The National Committee of Russian experts is the government institution responsible for formulating Russian policy proposals for the upcoming annual meeting of the BRICS heads of state in August.
The issue is not whether Russia is a key focal point in the migration to economic cooperation and trade in local currencies, outside of the speculative disease at the core of the euro and the dollar. That horse has left the barn. As Belarus’s President Lukashenko, at last December’s EAEU summit, explained (and covered in the article): The EAEU’s “circulatory system” must be revitalized. “Everyone understands already that the age of the U.S. dollar’s dominance is nearly over. The future belongs to trade blocs where transactions will rely on national currencies.”
Rather, the specific, edgier issue revolves around the revitalization proposed by Dilma Rousseff, the fresh leader of the BRICS’ New Development Bank (NDB), to begin making significant portions of their loans outside of the dollar (instead of their present practice of loaning based upon the NDB borrowing capital in dollars from the international markets). A few days after that article was published, Rousseff announced that the NDB has put Argentina on a fast track for membership and such loaning activity—a test case for countries getting out of the grasp of Western loan sharks, and getting into the business of major infrastructural projects based upon solid science. It is just an outbreak of public sanity.
Craziness does not have to rule. Various Southeast Asian countries today, at the Shangri-La Dialogue on security, broke silence, explaining that U.S. geopolitical games in the South China Sea are crazy, and the countries of the area don’t have to sit back and watch the horror show develop. Yet the naked ugliness of the West’s “we’ll save ourselves by breaking apart Russia” fantasy is displayed in the reliance upon actual neo-Nazis—that is, Denis Nikitin’s “Russian Volunteer Corps”—to run wetworks inside Russia, assaulting civilians in Belgorod. Such desperate actions must not be allowed to stampede the world.
This is the week to overcome craziness. Who do you know that doesn’t want the clear message of John Kennedy’s challenge of 60 years ago to revitalize the U.S. and the West?