Dr: Adel Samara
There has been a long and unfinished debate about the Russian reserve balance in hard currencies in terms of whether it is in Russia or abroad, and how the ratios were distributed between inside and outside. This was also accompanied by a question meaning:Is it conceivable that Russia had joined the world capitalist system so unaccountably? Although this is not the context of the broad analysis, but Russia today is a capitalist system and therefore it was natural for it to be deeply involved and deeply involved as any country trying to follow the same system. As we mentioned, the governor of the Russian Central Bank differed with Putin over the postponement of the defence war until some money was collected from the hands of the thieves of the imperialist centre in particular. And if Putin is more politically astute than her, she knows what technocrats are, with the deceptions of the economy and money and its agreements. Estimates indicated that the Russian reserves amounted to 630 billion dollars, and questions were asked: Where are they?
It turns out, of course, that about half of them are abroad. But several estimates suggest that about 30 percent of it is not under Russian control. The controversy was, of course, in the light of the NATO economic war, in which Russian foreign reserves were seized or seized, and Russia was isolated from the Swift regime. And the funny thing is that this West, which itself has established the various so-called international rules, is the one who violates them, which confirms that it created it by itself and for itself only, and therefore it authorizes itself to violate them. Therefore, it is recorded for Russia to respond to that.In the face of this attack, which was not hampered by international contracts and agreements, or between Russian companies and private Western foreign companies, but was motivated by an ideological and demagogic media attack from the West that demonized Russia and summarized this in the person of the Russian president himself.
So, Russia decided to respond with the same weapon. For example, Russia had chartered 520 civil planes from Europe, and when Europe decided to close its airspace to Russian air navigation, Russia asked the Europeans to send crews of these planes to fly them to their countries, but she told them, because we are prohibited from flying in your airspace, these crews are prohibited from Taking off from our land and flying in our skies, and thus it laid hands on all this fleet, which may dispense with many spare parts that were withheld from it. One of the western problems and confusion is that in the West they are not accustomed to peer-to-peer positions, and therefore they take decisions on one side in isolation from the other, as if each other, for example, is an Arab system of subordinates!In general, Russia decided to force hostile countries that import Russian raw materials, especially oil and gas, to pay for them in Russian rubles. As several reports indicate:”… that the European Union buys oil and gas from Russia every day at a value of 660 million dollars… practically speaking, the European Union pays 660 million dollars every day for oil and gas…
The Russian decision to replace the dollar with the ruble means that the European Union is required to pay that huge value of dollars in the ruble currency… Currently the dollar is equal to 100 rubles… I mean, mathematically, the European Union is now required to provide 6.6 billion rubles per day in exchange for oil and gas, by buying the ruble Against the dollar or the euro, the ruble is abundantly present in Russia. Russia can insist that it sells in gold, not dollars, as long as the West takes the Russian Central Bank out of the SWIFT system. “This rise in the demand for the ruble will necessarily lead to a rise in the demand for trade exchanges of all kinds with Russia, i.e. the hostile countries, not to mention the friendly ones, are forced to double exchange with Russia in rubles in order to obtain the ruble currency, which will become in the “hard currency” category… and thus will become Russia and the ruble currency in itself is the determinant of prices or a strong partner in that in global markets instead of / in exchange for the monopoly that remained decades in favor of the dollar and the euro…In light of this scenario, doubt arises as to whether the Russian Central Bank has enough foreign banking assets flowing into the exchange market to defend the ruble from fluctuations.
But besides this, Russia had the option to decide whether to sell its wheat to the West Asian countries that needed it; Or slowing down, or stipulating or stopping the sale of gas to Europe through Ukraine, especially after the United States managed to catch it, meaning that Russia, while under siege, is able to confuse the entire world system.Therefore, America took the initiative early in besieging the positions of power in the Russian economy through two mechanisms:The first: It began with an attempt to pass the Gulf energy to Europe by accepting or destroying Syria, which is a joint destruction by the imperialist trio, Turkey, the Gulf entities and the Zionist entity, and this has been hindered and will not stop.The second: the development of alternative energy, while not excluding dependence on costly American energy.After the current war, America and the West in general did not stop the two mechanisms above and added to them a third mechanism by going to energy producers from ocean countries to import from them as alternatives to Russia. These two categories are: The first category: Algeria, Venezuela and Iran, all three of whom refused to meet the American request.
And the second category: the Gulf regimes, which apparently refrain, but their positions cannot be relied upon based on their relationship, the historical dependency of imperialism, unless they know that there are a package of guarantees for them, meaning:• Protection from dangers, the most important of which is the fear of America itself, at least over its reserves there, as America used to put its hand on the reserves of others, which it did with Russia recently.Not to mention its claim that there should be protection from Iran, which it expresses by bathing in the entity.• Also, these countries are linked to long contracts with India, China and Japan, which take up 70 percent of their production, and accordingly, the rest is not enough for Europe’s needs.•
This is not to mention that increasing the operating capacity of the clouds from its wells and sites will overburden its builders in a not too long way, as a Russian expert in this field said.• Even in the medium term, if these countries turn their back on China, India and Japan, Europe does not hide that it is in the process of developing alternative energy and even prefers, even if tactically, the American alternative. If the various calculations above have their interpretation or perhaps their exits, what worries these regimes, which we have referred to more than once, is the lack of these regimes to protect themselves from the people. It is true that after the destruction of the Arab nationalist tide, these regimes rested from the internal danger, but the energy of the masses is necessarily renewed. Accordingly, these regimes may see that protection is in the American occupation presence, as is the case with South Korea. The question is, is America capable of that?
However, on the other hand, perhaps what compels these regimes to refrain from the American demand is the refusal of India and China to America’s requests to turn their backs on Russia, knowing that India is the largest importer of oil in the world, and this is tempting to the Gulf, not to mention that India’s armaments system has historically been Soviet. And all this strengthens the competitive rentier position of Russia. This opens that the Gulf position is necessarily shaky because these regimes do not have sovereign decisions or policies compared to Algeria, Iran and Venezuela. Perhaps what supports the concern about its tendencies is that at the time when it is coercive towards America, it is doing normalization free of charge, but entirely at its expense with the Zionist entity. In any case, she is not alone in this stinking bath, but she is with her many Arab regimes, which confirms that these regimes are waging a class civil war against the nation as a whole. What about Swift? This opens up the West’s decision to remove Russia from Swift’s service.
The main point is that “Russia will take some time to develop a new order in cooperation with China. The result, if they succeed in this, will be the end of dollarization forever, as countries threatened by “democracy” or those seeking to show a measure of political independence will be afraid of Use of US banks. On the possibility of introducing a new Russian-Chinese payment system bypassing SWIFT, combining the Russian SPFS (Financial Message Transfer System) and the Chinese CIPS (Interbank Cross-Border Payment System), the American economist Michael Hudson has no doubts about the ability of “Russia and China” to implement the system. Some of the Global South will seek to join it and at the same time remain in SWIFT – until its reserves are transferred to the new system.From Moscow’s point of view, this is a secondary issue. Because a good number of Russian banks are already linked to the Chinese CIPS system. For example, if someone wants to buy Russian oil and gas using CIPS, the payment must be in Chinese yuan. CIPS is independent of SWIFT.
In addition, Moscow has already linked its payment system not only to China but also to India and member states of the Eurasian Economic Union (EAEU). Which opens her dealings with nearly 400 banks. Regardless of the degree of success of Russia and China in developing an alternative to Swift, the aggressive decision to remove Russia from the use of Swift has opened the door to violating the “sanctity” of international treaties and agreements that seem to be primarily intended, as we have indicated, only to the West. In this context, the Russian President’s speech was that Russia will nationalize foreign companies operating in its country that have either stopped working or have not completed their work yet, and will allow workers to continue working and take their wages. This reminds us in another way that the workers occupied factories in France during the 1968 student revolution, but this time by an official decision. It is true that the dollar has the upper hand yet, but on the other hand, the arbitrariness of Western capitalism pushes Russia and China to take or adopt radical protectionist and alternative policies, of course, through the exchange of national currencies. Indeed, India has agreed to this with Russia.
By the way, many objective analysts recall in this regard the initiative of Iraq in the period of Saddam and then Libya during the period of Gaddafi to sell oil outside the dollar, which led to their occupation and destruction. But Russia, of course, is not that small country, especially when the small country has neither a polar supporter nor neighbors who reject the economic war against it.And if Russia and China have opportunities for a relative exit on the dollar, many countries of the world do not have the flexibility to leave their need for Russian wheat and energy, and even for the armaments system from Russia, whether due to their scarcity or availability at higher prices than Western capitalist countries. Accordingly, Russia and China can pressure these countries to trade in rubles in trade with them, which is a step to get other countries out of the dollar’s control.
This prompts us to return to the assertion that the war is rentier this time rather than a loosely economic or even military war.“There was a clearing and exchange system in local currencies between Russia and European countries in the fifties, and we can go back to that, and we can give you ruble loans and the guarantee of the gold we have and you have in sufficient quantities,” says Valentin Katasanov, a Russian economist and former employee of the International Monetary Fund. But of course, at that time the Central Bank of the USSR was owned by the state on the basis of Stalin’s decision.What does the first option mean? It means that Europe will get the ruble by selling its goods to Russia in the Russian currency, which means motivating European countries not to abide by trade sanctions and continue supplying to Russia. In 2021, it imported goods worth: 99 billion euros. This was evident from the Czech reluctance to commit to NATO’s economic war against Russia, even though its regime is hostile to Russia. It also agrees the position of Bulgaria and Hungary.
On the other hand, the Baltic states and Poland are the most hostile to Russia and therefore the enthusiasm for NATO’s economic war and further, if possible. Katasanov is one of the Russian economists who objects to Russia’s involvement or degree of involvement in the world capital market, even though he is not a communist. In the context of the Western mouths exposed with this war, this video of Katasanov himself was withheld, as he criticizes Russia’s involvement in the Western capitalist system and explains how NATO surrounds Russia with germ factories, even with patent thuggery! I deleted the link because its presence replaced the article.But that only seems to reveal part of the story. It can be said that the deadly weapon in the arsenal of reactionsRussian has been identified by the head of the Centre for Economic Research of the Institute of Globalization and Social Movements (IGSO), Vasilikoltasov: “The key is the confiscation of technology – as in Russia, which has ceased to recognize US patent rights.” This position is closer to getting out of the window of the global capitalist system, and if it continues, it will have its aftermath.
The patent is a Western usurpation of the world that has no legal, moral or historical basis, and its goal is to arrest the development of the various non-Western countries of the world. The West, during the period of direct colonialism, usurped the various methods of industrialization and agriculture from the societies it had subjugated, and swept what Anwar Abdul-Malik called the “historical surplus value” of those countries. That is, he stole the existing technology with the surplus and invested them in developing his industries, which he today calls Research and Development RD. This confirms that the world must reject the lie of the patent, which is more related to the era of globalization and is, of course, an entry point to block the development of anyone other than the West. (See our book Beyond De-linking Development by Popular Protection vs development by State, 2005, p. 14)Just as Putin announced the seizure of hostile companies located in Russia, Koltachov, in what he described as “liberating American intellectual property,” called for the passage of a Russian law on “friendly and unfriendly countries.
If a country turns out to be on the unfriendly list, we can start to Copying their technologies in pharmaceuticals, industrials, manufacturing, electronics, and medicine. It could be anything – from simple details to chemical formulations.” This will require amendments to the Russian Constitution. Koltachov asserts that “one of the foundations of the success of American industry was the copying of foreign patents for inventions.” Now, Russia can use “extensive Chinese knowledge with the latest technological production processes to copy Western products: the seizure of American intellectual property will cause damage to the United States in the amount of more than $10 trillion, only in the first stage. It will be a disaster for them, as some reports say.” .As it is, the strategic stupidity of the European Union is betting faith. China is ready to seize all of Russia’s natural resources – while leaving Europe pitifully hostage to oceans and unbridled speculators. A complete split between the EU and Russia appears to be waiting – with little trade left and no diplomacy. Will Europe make up for it? At least there will be division in every country on this matter.
Conclusion: Was the Russian war merely defensive, or did the Russians know in advance that there would be multiple repercussions from this war? Whether it is this or that, many of the foundations or pillars of the global capitalist system, even the West, have been destroyed, and many of them have been destroyed at the hands of the West itself. This opened the way for Russia and China, and other countries must get rid of the unjust rules of this regime.In addition to the rentier essence of this conflict, which neutralized the war of arms and the war of advanced industries and brought people back to worry about food, clothing, heating…etc., it restored the value to the issue of monopoly in a funny way this time.For example: America and the West threatened and worked to take a unified decision as buyers / monopoly buyers Monopsony against Russia, Russia responded with a monopoly of sellers in return Monopoly. Here, some may argue that Russia’s economic power is not the product of a higher development than its opponents, but rather the endowment of wealth, and this is true, but it is of no value if the Russian authority did not have sovereign decisions.
There is no doubt that this position of Russia will be a lesson to be learned by those who have a sovereign decision, and unfortunately this is not the case with the Arab vassal regimes. We do not know if Russia is serious about its request to enter the Atlantic and the European Union, but the Western rejection of it, and its insistence on holding back its development, must push it to make radical choices, one of which, as we mentioned in a previous episode, may be at least disengagement, and this is dangerous for capitalism itself. There is no doubt that this war and its developments will also generate many new agreements and axes in the world outside of the West’s hegemony and subordination to it.In a word, if the military NATO has been curbed and if the West has generated an economic NATO and Russia has responded to it with a rent war, then this means a good opportunity for many countries of the world to break against this regime ruled by the West as long as the military hand of NATO is no longer easily profitable, at least.
But the irony and the catalyst for the revolution is the position of the Arab regimes, which despite the disruption of the global system and even the abandonment of many of its foundations by the center, the only Arab regimes clinging to subordination and serving this system and insisting on the search for a master who needs to protect i.e. the Zionist entity.War is not a security, but sometimes it is the only option and may generate results for the benefit of humanity, and the important thing is that even by the end of this war, NATO’s economic war will not stop.