World economic war escalates.

 RUSSIA SUSPENDS OIL SALES TO COUNTRIES THAT ATTEMPT TO IMPOSE PRICE CAP

EXPECT RISING OIL PRICES FOR EVERYONE

History is full of examples of attempts to control prices with price caps, they all end in shortages and then increased prices, this latest attempt will end the same. While oil is a commodity without borders, a real international commodity, any attempt to cap the price will end in failure and economic suffering for everyone.

We will see how long this plan stays in effect or will it just fade away and some can call the cap another emotional symbolic effort to damage the Russian economy. It will most likely harm the imposers more than the Russians.

The next test is to see if the G7 attempts to cap the price of Russian gas that still is being supplied to western Europe through Ukraine, a fact little reported by the usual press. Actually, Ukraine still receives $1 billion in revenue from the transit of Russian gas through the country.  This is one of the reasons for the opposition of the Nord stream 2 which could have bypassed Ukraine and cost them all that revenue, including the Ukrainian gas companies, which are benefactors of the Bidens.

Since Russia has taken this step of refusing to sell at the capped price, the ball is now in the West's court to see if they will risk capping Russian gas which is a much more important source of energy to Ukraine and western Europe. Of course, this will be reported as Russia using oil as a weapon.

This is just another step in the worldwide economic warfare that is a two edged sword. The imposers seem to suffer just as much as the Russians, if not more. 

They have already band the sale of Russian gold on the London exchange, does anyone believe that the gold is not going to be sold? It will be sold, but the London traders are losing their commissions. In fact, it seems that Russia is a net purchaser of gold on the world market. This may be coupled with the desire of many countries to tie a new currency to a commodity index of possibly gold and oil to create a more stable currency than the present constantly inflating dollar.

While the west has a monopoly on the financial institutions worldwide, they no longer have a monopoly on the life sustaining commodities  produced mostly in the third world, Russia and the middle east. The use of the dollar and these financial monopolies as a political weapon has increased the desire of many of these countries to find an alternative.

At one time the dollar was considered,"as good as gold" that is when gold was valued at $35. an ounce, it is now $1800 dollars an ounce. It is just an indication of the inflated dollar caused by decades of government deficit spending. U.S. inflation and the dollar are noted by foreign producers, it was the U.S. inflation of the 1970's that created OPEC to protect themselves from receiving lower valued dollars for their oil. OPEC will not support price caps dictated by oil using countries at the expense of producing countries.

So, of course this is all to come to aid of Ukraine and the Ukraine war which was so easily avoided if the west had put themselves in Russia's place in their opposition to NATO expansion. Deaf to the lessons of the Cuban missile crisis and unable to understand what the U.S. position would be with a foreign military alliance on the Mexican or Canadian border. If this country had any real foreign diplomats, or would have listened to those who tried to warn them they would have understood that this would be the result.

It seems that we have leaders who do not understand limits and are so inflated with hubris they believe they can rule the world. Judging from their decisions and the results, such a rule would be a sad day for the world.