Russia PM Putin Proposes Reemergence of 'Soviet Era' Economic Union

 Twenty years after the Soviet Union collapsed, Vladimir Putin, the Russian prime minister, may not, as is sometimes alleged, be trying to recreate it. But he is pursuing a different project – to build a “quasi-European Union” out of former Soviet states.

A customs union he launched a year ago between Russia, Belarus and Kazakhstan has already removed tariffs and customs controls along the three states’ internal borders.

Come January this is due to expand into a “common economic space”, ensuring free movement of goods, services and capital across a single market of 165m people – 60 per cent of the former Soviet population.

At a Moscow summit this month, prime ministers of the three states set an even more ambitious target – turning the grouping into a “Eurasian economic union” by 2013. There is even talk, down the line, of a common currency. - FT

Libyan War About Oil and Controlling China

As the 'Arab Spring' continues unabated, the Libyan War, in which Obama promised would be "Days, not weeks", seems to be about more than just keeping the peace.

According to Dr. Paul Craig Roberts via PressTv

The crisis in Libya is mostly a “CIA operation and the US government is trying to get China out of Libya because China has extensive energy investments in Libya,” former Assistant Secretary to US Treasury Dr. Paul Craig Roberts told Press TV.

 “The US is very disturbed by the recent reports from the International Monetary Fund that China will surpass the US as the number one economic power within 5 years,” Roberts added. 

Indeed.  Just as of last year China surpassed the United States in energy consumption

Geo-politically speaking, Libya is rather a small exporter of oil to the US. But as we examine Libyan exports the picture becomes increasingly clear.

 

 

Putin Slams US As "Parasite" on Global Economy

Via AP

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow. 

"They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls. 

US President Barack Obama earlier announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded. 

The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade.
"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision." 

But Putin, who has often criticized the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries. 

"If over there (in America) there is a systemic malfunction,
this will affect everyone," Putin told the young Russians.

Syrian Protesters Burn USD Fiat as They Attack US Em

Yahoo! News Canada

Syrian government supporters smashed windows at the U.S. Embassy in Damascus on Monday, raised a Syrian flag and scrawled graffiti calling the American ambassador a "dog" in anger over the envoy's visit last week to an opposition stronghold, witnesses said.

Whom ever said that confidence in a currency had nothing to with overseas aggression and interventionism. should rethink their thesis.

West Point Study Gives Perspective On Little-Known Libyan Rebels

As should be no surprise to most, the United States recently launched its third war of aggression in less than a decade. To say the United States' military is globally overstretch, would be speak an understatement. The 10-year campaign in Afghanistan rolls along abetted, combat troops remain firmally anchored in Iraq (despite media-spin otherwise) and now the bombing campaign set in Northern Africa.

The UN Anglo-American global government campaign launched Operation Odyssey Dawn Saturday, March 19 with Western Fascist French and British bombers began unloading Tomahawk Cruise Missiles onto the Nation-state of Libya. The US would proceed to take over the main operations and now supposedly will hand over the remaining duties to NATO.

Webster Griffin Tarpley discusses study which gives perspective upon rebel Libyan forces which appear to have been CIA/MI6 co-opted, much the same as Al-Qaeda in Iraq.


Al‐Qa’ida’s Foreign Fighters in Iraq: A First Look at the Sinjar Records

Putin (Russia) & Ahmadinejad (Iran), Really Threat to US?

??We will let YOU figure it out...






WE REPORT, YOU DECIDE!

Is $200 Barrel Oil Coming to the US (5 dollars at the Pump)?

Seeking Alpha- Cullen Roche

Nomura has a very good piece on the current situation in the Middle East and the risk of oil rising to $200. While Libya is a big player in the region, the ultimate scare would come from any disruption in Saudi output. As you can see they are by far the largest player in the region (click to enlarge):

 

One of the concerns today is that spare capacity is fairly high. That means OPEC is unlikely to add supply to the market despite the disruptions. This was confirmed by CNBC yesterday who says that OPEC has no intentions of raising supplies:

Marc Faber 02/22/2011: The Alex Jones Show- The Total Financial Collapse of America is Here!