British media and their cousins, such as Bloomberg, are reporting and encouraging a major escalation this week in financial warfare by NATO against the BRICS nations, targeting China above all. The financial and economic attempts to destroy the BRICS are merging with military escalation, recalling Lyndon LaRouche’s 2011 forecast and analysis of a coming world war against Russia, to allow the financial oligarchy to write off its unpayable everything bubble of debt.
White House National Security Communications Advisor John Kirby told reporters on June 11 that new sanctions would be announced this week. According to the Financial Times, the U.S. Treasury will expand the number of Russian entities almost fourfold (1,200 to 4,500), economic contact with which can subject a bank or firm in another country to “secondary sanctions” by the United States. These entities would now include Sberbank and VTB, the two largest Russian lending institutions. This is effectively a continuing attempt at an economic embargo of China, when combined with the United States “chip war” sanctions and multiplying tariffs against China. It is the dangerous game of attempting to force China to choose between its economic relations with the United States and Europe, and those with Russia, a dangerous game.
FT “supports” its report by the now almost-ritual media incantation that this “reflects the U.S. view that the Kremlin has transformed Russia into a war economy”—the NATO formulation used to try to “cancel out” the growth and strength of Russia’s economy under the monster sanctions of February 2022.
