Old Friend Is Off The Rails

As I have noted before, I have an Old Friend (OF) whose opinion I've always respected.  In the prior post I disagreed with OF, sharply.  The latest evidence, though, indicates OF has become a complete Putintute and shill, confirming the fear I voiced in the prior post, that OF had found a couple of new "friends" in the Middle East.

It began a couple of months ago when OF announced a new role, economic and finance commentator on CGTN (Chinese Global Television Network), an international propaganda organ for the CCP and PRC.  This was followed closely by a piece on how the national debt will lead to hyperinflation (Given, if Trump is re-elected, his disastrous economic "policies", which include more tax breaks for oligarchs which would in turn balloon the debt, could well cause a collapse.  But it would take the full shit tsunami that is Trump; the debt alone does not get us there.  OF is effectively rejecting Modern Monetary Theory.  Why?  More on that below.).

Then about a month ago came a comment that really had me scratching my head.  OF started bitching about the effect on the London Stock Exchange of International Organization of Securities Commissions (IOSCO) regulations.  IOSCO is basically there to coordinate among different securities regulators, making legitimate financing easier and illegitimate financing more difficult.  It's well known London has been a hub of money laundering since Tommy Pitt practically invented it during his side hustles from the East India Company over 300 years ago.  And it got worse after Maggoty Trencher.  Until the UK joined IOSCO and had to seriously shore up its enforcement.  Why would OF be against that?  As I've said, I'm afraid OF picked up some new friends in the desert.

Then just last week, things ramped up.  OF started promoting the BRIC (Read: Russian.) position of dedollarization, attacking the US's freezing of Russian assets in response to the invasion of Ukraine, and beating the drum for a recent report from Russia that claimed Putin wants there to be no reserve currencies.  Right.  First, Brazil, Russia, India, and China are in no position to make this happen.  If the US and the West fail, and Putin is quite obviously trying to make that happen, the BRICs won't step in.  Civilization will just collapse.  Second, if you think Bad Vlad does not intend to replace US$ with a currency or basket of currencies he controls, I have some oceanfront property in Yuma, AZ, to sell you.

Sorry OF, but I seriously don't trust what you're saying anymore.