Armstrong Economics Blog/Energy Re-Posted Jun 16, 2022 by Martin Armstrong
The Russian EU Ambassador has informed the EU that gas will stop through Nordstream because a turbine that was needed was stuck in Canada because of the sanctions. Then the biggest gas field in Siberia is now on fire. That can also provide an excuse to reduce gas delivery to Europe. This will also add to the reduction in gas supply to Europe This is making things very interesting. If Gas bottoms next week, we could be looking at much higher volatility thereafter. For now, a June closing above 625 will keep the market in a broader-term support position but a real breakout would require a close for June above 795.
Armstrong Economics Blog/Central Banks Re-Posted Jun 16, 2022 by Martin Armstrong
The European Central Bank has announced that it plans to create a new tool to tackle the risk of eurozone fragmentation, which is the new term for divergence among member states. They are adopting this tactic out of fears of a new European debt crisis that is inevitable. From the very beginning when the EU Commission was charged with designing the Euro can to our conference in London in 1997, I warned that the promises that everyone would be paying the same rate of interest merely because they were creating a single currency was a complete fantasy. I further warned that this would lead to the collapse of the Euro if not the entire EU.
I explained that they were comparing the Euro to the Federal Debt of the US when the failure to consolidate the debts of the EU meant that the real outcome would be like the USA at the state level. A single currency did not mean that every state paid the same interest rates in the USA and that would be the ultimate reaction of the free markets. We are now in the 24th years of the Euro and its survival because deb stable post-2024.
The ECB’s decision has come as a surprise following an emergency meeting to address higher borrowing costs for many European governments on an uneven playing field. The ECB made a statement:
“Since the gradual process of policy normalization was initiated in December 2021, the Governing Council has pledged to act against resurgent fragmentation risks.”
“The pandemic has left lasting vulnerabilities in the euro area economy which are indeed contributing to the uneven transmission of the normalization of our monetary policy across jurisdictions,”
The comments are trying to explain the recent surge in bond yields over the past week or so as capital is starting to smell a rat. ECB has implied a more aggressive policy tightening is coming but it still failed to deliver any new measures that would support the growing unrestrained debt load. With Green governments seizing power, and the absurd sanctions on Russia, it is hard to see where there is any understanding of fiscal management on the horizon.
European capital is now very concerned about financial “fragmentation” meaning the disparity among member states in interest rates. There is clearly a rise in rates in Southern Europe compared to northern. The ECB is now saying that it will “reinvest redemptions” from its emergency bond-purchasing program. So in other words, it will NOT reduce its balance sheet concerning bonds that are under pressure for that will force greater disparity ahead – i.e. fragmentation.
The ECB claimed that its commitment to the euro is its anti-fragmentation policy. They have said that this commitment “has no limits.” Previously, Southern EU states faced materially higher borrowing costs in the wake of the sovereign debt crisis back in 2011. This is a complete disaster for the failure to have consolidated the debt meant that their idea of one monetary policy for 19 different fiscal positions cannot possibly work. I tried to explain to them from the beginning that the 12 original branches of the Fed were independent and they would raise or lower rates depending upon the regional impact. It was Roosevelt who usurped that authority and created one rate for all in 1935 creating the new head branch in Washington.
The yield on the Italian bonds traded over 4% and has broken through the Downtrend Line. While people hope that the ECB’s announcement in this unscheduled emergency meeting means they will be in control, this is more like the 5-time-divorced soul getting married again for the sixth time confirming that hope can triumph over experience. The broader long-term is that borrowing costs will have nowhere to go but higher.
The ECB’s decision to reinvestment what it previously bought merely confirms that there is a serious sovereign debt crisis unfolding.
Posted originally on the conservative tree house on June 15, 2022 | Sundance
A contracted mercenary has no legal recognition or protection as a prisoner of war. Two American mercenary soldiers have been captured by Russian forces and now present a rather unique issue for the Biden administration. The traditional end result for captured mercenaries is execution; however, Russian President Vladimir Putin may not want to hang these two State Dept. conscripts.
(Via Telegraph) – Two former US servicemen have been captured during fighting with Russian forces in Ukraine, The Telegraph has been told. The pair were taken prisoner during a fierce battle outside the north-east city of Kharkiv last week, according to comrades who were fighting alongside them.
Alexander Drueke, 39, and Andy Huynh, 27, had been serving as volunteers with a regular Ukrainian army unit. They are believed to be the first US servicemen to end up as Russian prisoners of war. They join a growing number of Western military volunteers captured by Russian forces, including at least two Britons.
Aiden Aslin and Shaun Pinner have already been told they face the death penalty as “mercenaries”. The capture of the two Americans will be diplomatically sensitive as the Kremlin may seek to use it as proof that America is becoming directly involved in the war. Vladimir Putin, the Russian president, is likely to demand significant concessions to release them. (read more)
By Reuters Published originally on Rumble on June 11, 2022
Singapore’s defense minister Ng Eng Hen, speaking on the sidelines of the Shangri-La Dialogue on Saturday (June 11), told media that China wants a quick and peaceful resolution to Russia’s ongoing military conflict in Ukraine.
Armstrong Economics Blog/Politics Re-Posted Jun 13, 2022 by Martin Armstrong
Governments are pulling off a major profound theft. They have been violating international law robbing individual Russians with no connection to Ukraine on the pretense that this will somehow put pressure on Putin to leave Ukraine. But the US has been funding the civil war against Russian-Ukrainians in the Donbas. Western Ukrainian simply hate Russians and this goes back to Bandera in World War II. The West was not upset when the Ukrainians were beating Russians on the street in Odessa, chased them into a building, and then burned them to death alive. That was perfectly fine because they were Russian
The real question here is have our politicians simply used Ukraine as the excuse to just confiscate money regardless of who owns it? There seems to be an apparent almost ownerless view of money emerging especially in Europe where governments are just grabbing money at will abandoning any rule of law. Like Trudeau in Canada confiscating people’s accounts because they supported the truckers. We seem to be entering a complete collapse in the very foundation of law upon which civilization has been sustained.
This confiscation of private Russian accounts and assets on the theory that their country is doing something that offends another is the complete collapse of civilization and it appears to be just getting started as we head into this ominous target of 2032. If we just look at Europe, savers and investors have been abused with negative interest rates since 2014, the assets have been devalued for years, and now with inflation of over 7% in Europe, there is complete drastic destruction of European capital.
The wise have been pouring money out into anything tangible. Everything from collectible cars to art, antiques, coins, and stamps have been rising. A gold Aureus of Brutus with a hole that had previously sold for under $100,000, was just sold for 2,200,000 CHF! A Mercedes Gullwing brought $1,3 million.
There are serious concerns that this is a prelude to the seizure of people’s savings on a wholesale basis for implementing You will Own Nothing & Be Happy. The Russian confiscation in total violation of international law appears to be just a test run for even more serious events in the future. In this wholesale confiscation of private assets, these politicians are using the excuse of Ukraine to implement a completely new normal procedure – the confiscation of billions without asking who the funds belong to and whether there is a connection to the Ukraine war. While some may look the other way because they are Russians and who cares if there is no connection to Ukraine or a rule of law. But turning a blind eye to what is going on is very dangerous for to accomplish this confiscation means they MUST abandon every foundation of the rule of law and without that there can be no civilization left standing.
Those who approve of such actions directed against Russia should be aware that what they can justify today with Russians can and will be done tomorrow with the savings of any citizen. They already confiscate private assets if you travel with more than $10,000 and they PRESUME it is illegal money. They do not even have to prove that there was a crime. They seize it and that is it.
Confiscating someone else’s money demonstrates how desperate politics has become. They MUST retain power and they will justify their actions just as Thraymacus argued in his debate with Socrates. Justice is always the same no matter what form of government because justice simply becomes the self-interest of those in power.
The past speaks to us if we dare to listen. History repeats because the passions of humanity never change throughout the centuries. For thousands of years, governments have been expropriating someone else’s property. No matter what century we look at, the same practice emerges when governments are financially stressed as they are today. It was Edward I who expelled the Jews from England, but the motive was not religion. He borrowed from the Jews to fund his war against France and when he could not pay, he suddenly discovered that his bankers were Jewish – OMG! How could that have been the case? So he expelled them from England but seized all their property denying them the right to flee with their property. It was Edward I who was the king in Brave Heart (being Scottish, it was the most influential film in my life).
Governments are UNWILLING to find solutions to pressing economic problems because they may result in their loss of power and our freedom. Even the plundering of private assets with the help of the low-interest rate policy has deprived people of their rightful income after telling people to save for their retirement and you will be able to live off the interest. Those promises have been destroyed.
Against the background, politicians are incapable of properly managing the state budgets entrusted to them. They no longer know even how to run for office without promising free gifts and taking money from one class to hand to another. Central banks, especially the ECB, have kept interest rates low to provide the over-indebted countries with cheap money, causing savers and investors to sacrifice their future with no end in sight.
Politicians have exploited Russia and begged them to invade Ukraine, refusing to enforce either the Belgrad Agreement or the Minsk Agreement which was to allow the people of the Donbas to vote on their own future while pretending this is a war for democracy v autocracy. They need the Ukrainian war as a diversion as a shell game to distract the people from the economic crisis hiding in the wings.
They have deliberately pushed Russia to suspend servicing their debts to Western lenders, in preparation for their own excuse to suspend their own servicing of debts. As usual with sanctions, not only the person against whom the sanctions are directed in this case Russia is harmed but also this has undermined the entire world economy ensuring its collapse in the years ahead. In this context, it cannot be stressed enough that sanctions historically have never worked and they know that they are generally pointless. They began imposing sanctions against Russia back in 2014 and more sanctions for the Ukrainian false flag of shooting down the Malaysia passenger jet trying to get the West to come in and defend Ukraine.
Even now blaming Putin for blockading Ukrainian ships carrying grain, they omit the fact that the Ukrainians have mined the harbors and are deliberately trying to create starvation to once again compel the West to enter this vindictive war against Russia. The Neocons, John McCain, and Lindsey Graham have been promoting civil war in Ukraine to create a Proxy War they are willing to fight until the last Ukrainian is dead. But nobody will dare look at the fact that this Ukrainian War has been provoked.
The day before Russia invaded, Zelensky announced he would rearm Ukraine with nuclear weapons. We invaded Iraq on the pretense he had such weapons which were never true. Here you have Zelensky standing up publicly announcing he is breaking the Belgrade Agreement and refusing to allow Donbas to hold elections as per the Minsk AGreement, but Putin is the evil person here?
Then we have Zelensky promoting World War III claiming has already begun yet all these world leaders visiting him in Ukraine including Biden’s wife while pretending Kyiv is a war zone. This is all a joke. It is such theatre for the world needs a war to hide the economic collapse they know is coming. I have warned that Zelensky will be the man that brings World War III. That is his mission in this play.
PREPARING TO CONFISCATE PRIVATE ASSETS:
There was a practice run that people have forgotten. Remember the first confiscation of Russian assets when they robbed Russians by confiscating their deposits over Cyprus. Do you recall that back in 2013, the IMF head Christine Lagarde at the time advocated a wholesale seizure of 10% of all accounts throughout the Eurozone because there may be riots and discord if there are bail-ins on a case-by-case basis. This was laid out in the IMF report. The idea is that a wholesale seizure will prevent a bank run for if bail-ins take place on a case-by-case basis then this might start a contagion. Consequently, the latest reports from the IMF discuss this super-seizure of 10% on all savings in the Eurozone they are calling a tax. This is argued to be necessary to solve the debt problem in most sovereign countries. It would be an alternative to higher taxes or spending cuts. The economists who actually wrote the paper claim it appears to be an efficient solution for the debt problem yet it lacks long-term analysis.
Today, the director of the International Monetary Fund (IMF), Kristalina Georgiva, who is also on the Board of Directors of the World Economic Forum and got the job thanks to Schwab, made a very naive statement claiming that the Russian sanctions are not all that bad. Russia accounts for only 0.4% of the world financial market. She admitted in her 60-minute interview that imposing sanctions on China for helping Russia will lead to more supply chain disruptions which will further inflation. So she justifies illegally confiscating private assets using her bogus statistics yet energy prices are soaring and the EU says the entire food crisis is caused by “Russian alone!” The disinformation is not coming from Putin, but right before our eyes here with Western pretend leaders.
This is all the surface banter that avoids the entire point of our real pending economic crisis – authoritarianism in the West. What has emerged is the justification for grabbing money that belongs to others. Even if we turn the clock back to the 2010 Greek Financial Crisis when politicians suddenly declared bonds worth millions worthless. Private investors in Greek government bonds wanted to claim 12 million euros in damages from the ECB after the debt restructuring. The European Court of Justice ruled against the plaintiffs. Th claim that the expropriation of private assets would facilitate the rehabilitation of the country. That restructuring completely failed. Governments act ONLY in their own self-interest, never in the interest of the nation or the people.
Because we are pushing this end-game of governments being able to keep funding going under this system of perpetual borrowing year after year, adding the fact that the central banks cannot keep buying the debt creating money indefinitely while being blamed for not stopping inflation, the only remaining solution open to the government is to seize the assets of citizens and businesses. This is what Schwab is selling with you will own nothing and be happy. From now on, you can only withdraw small amounts of cash that are absolutely necessary to cover immediate needs. This is always the scheme that repeats in all historical financial crises.
Just Look at Russia
There was absolutely no valid legal basis for seizing the private assets of Russian citizens. It is purely arbitrary but violates every principle of international law. There is also no DUE PROCESS OF LAW afforded any Russian individual. In principle, such a policy against Russian state funds would be legal, but only if the USA and the EU were at war with Russia. There must be a declaration of war to justify even that action. A direct military confrontation is scrupulously avoided because only the US Congress can issue a declaration of war. Therefore, as long as the Biden Administration does NOT send troops to Ukraine, then he does not need Congress’ approval for this Proxy War which has the same intentions of destroying Russia. As far as the confiscation of corporate and private assets is concerned, there is no precedent in history to justify these sanctions. This means they have TOTALLY abandoned all rule of law whatsoever.
Consequently, after already abandoning the rule of law, the intensification of this behavior will only continue when it becomes evident that the political system is collapsing. This is point 8 in Schwabs Great Reset. They know that they are pushing the envelope here and as inflation rises, so will civil unrest. They will then turn on the people just as Venezuela has done which is also why they desperately need to eliminate gun ownership. That is essential to disarm the people who the complete implementation of this Great Reset.
We have embarked upon a new Wild West Economic Policy of just confiscating assets. Blocking funds that could be used to settle claims against Russian debtors is part of this strategy that they KNOW will have zero impact upon forcing Russia to withdraw from Ukraine. They have deliberately put Russia in a position where they know it cannot back down. The real question is do they really think overthrowing Putin will lead to Russia falling to its knees begging for forgiveness?
The sanctions against Russia are presented by the US and the EU as legitimate measures necessary to bring warring Russia and its President Putin to surrender. But they know that will not happen. Clearly, the sanctions do not have the desired effect under any scenario are all they have done is shake the very foundation of the world economy revealing that it is arbitrary and untrustworthy. SWIFT had committed suicide and China’s alternative is pushing the world into a Great Reset, but not the decided objective of a one-world government headed by the United Nations. Africa also just refused to sign the WHO’s dictatorship over world heath.
What is clearly in play is their idea of confiscating private assets. What started the hyperinflation of Germany was NOT the printing of money – that was the result, not the cause. In December 1922, the government did a forced loan. They too confiscated 10% of everyone’s accounts and issued a bond, We are returning to such measures. The US and the EU along with Japan and Switzerland have thrown out all rules of law. We should expect nothing less in this final stage into 2032 where it will become a war between the government against we the people – the great unwashed.
Posted originally on the conservative tree house on June 12, 2022 | Sundance
The constant and strategic pressure by Russian military in eastern Ukraine is slowly and methodically taking more ground each day. Russian troops have now encircled and captured the city of Severodonetsk, which will join Lysychansk under full Russian control within days, according to the Washington Post.
Ukraine forces are running out of supplies as the U.S. State Dept. tries to organize the battle formations on behalf of U.S. interests in the country. The Russian advances are slow, methodical and very deliberate. The Ukraine military is losing ground and Zelenskyy is calling for more western help urgently.
LVIV, Ukraine—The leaders of France, Germany and Italy plan to meet with Ukrainian President Volodymyr Zelensky in Kyiv this week, officials said, as reports showed Russia making gains in the country’s east and Ukrainian officials urgently sought arms from Western nations to hold Russian forces at bay.
French President Emmanuel Macron, German Chancellor Olaf Scholz and Italian Prime Minister Mario Draghi were planning to visit the Ukrainian capital on Thursday, said two European officials, who cautioned that plans could yet change. The trip would be the first to Ukraine since the beginning of the war for the three Western leaders.
News of the planned meeting came as Ukrainian officials said Russia had made fresh gains in its efforts to encircle and capture the city of Severodonetsk, which would bring Moscow significantly closer to its goal of controlling the Donbas area in the country’s east, its foremost target recently in the war.
Serhiy Haidai, the Ukrainian governor of the Luhansk region, which includes Severodonetsk, said on Sunday that Russians had destroyed a second bridge connecting Severodonetsk to Lysychansk, a Ukrainian stronghold just across the Siverskyi Donets river. Russian forces also shelled a chemical plant in the city’s industrial section, where civilians had taken shelter in bunkers, Mr. Haidai said.
The battlefield advances were the latest evidence that Russia is outgunning Ukrainian forces, using its superior artillery power to steadily take territory. Its gains have thrown added focus onto Ukraine’s pleas for more powerful and longer-range artillery and other weaponry from the West, as well as on Ukraine’s lack of capacity to manufacture ammunition for the Soviet-era heavy weapons in its arsenal. (read more)
Armstrong Economics Blog/Geopolitical Re-Posted Jun 10, 2022 by Martin Armstrong
Honestly, these lies and propaganda coming from the United States and Europe is just a slap in the face and it demonstrates that they look upon us as the BRAIN-DEAD Great Unwashed. Too stupid to understand even how to live without their orders. The Biden Administration and the EU are desperate to blame everything on Putin from inflation to food shortages. Charles Michel, president of the European Council is an absolute disgrace and if politicians could be charged with perjury for lying to the people, he would be in prison for the rest of his life.
The food shortages and the rise in civil unrest along with authoritarianism was put out by our model in 1985 as was the forecast back then that 2016 would be the first time a third-party president could win. That was forecast decades before we even knew who it was. It was the economics that put Trump in office. I spoke to politicians after the election. They called it a fluke because they did not want to admit it was a vote against them – not for Trump as a person.
We also put out the forecast that BREXIT would win. Nigel Farage came as our guest speaker to our 2019 WEC in Rome and it not only called our events the “alternative to Davos” but that he had to come for we were the only ones forecasting BREXIT would win. All of these forecasts are economic-based. They are NOT my personal opinion. Historically, people vote based on their economics. Herbert Hoover was elected in 1928 and was in office only 8.6 months before the Great Depression began. It really had nothing to do with his policies. Nevertheless, the people named their shanty towns – Hooverville.
The sheer audacity of the bald-faced lies of Charles Michel blaming “Russia alone” for the food crisis which was set in motion by the COVID lockdowns well before the Ukrainian war is simply beyond belief that he assumed we are that stupid. was responsible for the food crisis. I cannot tell you how many emails I got from farmers who had to kill even 30,000 chickens, and bury their crops, all because of the COVID lockdowns that prevented truckers from delivering food. Remember the trucker protest in Canada? Even crude oil production in the West, aside from Ukrain, is still below pre-COVID levels because there is also this Climate Change Agenda underway which will rise energy and food prices without Ukraine. Even in Australia, they now proclaim that the Greens have the MANDATE to stop new oil and gas projects. But this is all Putin’s fault – not Western politicians be they red, blue, or green. Germany’s Green Policy has been a total failure.
Charles Michel claimed actually said: “Mr. Ambassador of the Russian Federation, let’s be honest, the Kremlin is using food supplies as a stealth missile against developing countries.” The US has clearly coordinated this line of nonsense for we see the same thing coming out on the US side. The US and the EU have coordinated to blame all their inflation problems on Putin, Russia, and the Ukrainian War which they could solve in one day as Henry Kissinger said – hone the Minsk Agreement and the people of the Donbas vote if this is about democracy v authoritarianism which is another BS ploy.
Let’s stop the propaganda. A French journalist who returned from Ukraine after arriving with volunteer fighters told broadcaster CNews that Americans are directly “in charge” of the war on the ground. The assertion was made by Le Figaro senior international correspondent Georges Malbrunot. Malbrunot said he had accompanied French volunteer fighters, two of whom had previously fought against ISIS. “I had the surprise, and so did they, to discover that to be able to enter the Ukrainian army, well it’s the Americans who are in charge,” said Malbrunot. Everyone knows this is really a war of the USA v Russia and the American neocons will fight to the death of every last Ukrainian. As long as they do not send American Troops, then it is not an act of War that only Congress can authorize – not Biden.
The Russian UN Ambassador walked out of a Security Council meeting after the European Council President accused Russia of engineering a food crisis with its war on Ukraine. Quite honestly, all the propaganda coming from Europe and the United States is so obviously intent upon causing international war. They better pray that Putin survives, for the second tier of potential leaders will play real hardball. There are those who call the bluff of the EU and the US and use a tactical nuke and take out Kiev (Russian spelling). They say: “OK! Who is next?” Three nukes would take out the entire East Coast of the USA and it would take just three to wipe out Europe. One would be sufficient to take out Britain. Perhaps you will recall that one nuclear Russian sub has 60 ready to go. Just what the hell are these people doing?
Michel also said that “The dramatic consequences of Russia’s war are spilling over across the globe This is driving up food prices, pushing people into poverty, and destabilizing entire regions,” If you are already blaming Russia for something it has not done, then they might as well do it. Cut off all grain sales to any unfriendly nation and turn off the gas for Europe and watch the civil unrest drag people like Charles Michel to the streets from his comfortable seat. Boris Johnson may have survived a No-Confidence Vote, which was a disgrace to start with, but the sheer fact that a No-Confidence Vote was brought shows the rising discontent which will burst through into civil unrest by 2023.
I have ALL the declassified documents with phone calls and notes concerning Putin, how he came to power, and how everything they say about Putin publicly today is opposite of all the declassified documents. The level of propaganda today is just off the charts. This is all a VIOLATION of international law. The UN Commission on Human Rights and internationally recognized international law expert Alfred de Zayas, who is actually absolutely correct, has said publicly that the USA should be brought before the International Court of Justice because of its sanctions policy which is illegal and has caused this entire crisis of inflation.
Armstrong Economics Blog/Corruption Re-Posted Jun 9, 2022 by Martin Armstrong
All the world leaders supporting the Great Reset were eager to relinquish complete power to the World Health Organization (WHO). The WHO wanted to seize the ability to force health mandates on the global population. The Pandemic Treaty would have allowed the WHO to bypass national laws and implement their will on the people.
A message from the WHO:
The COVID-19 pandemic has exposed gaps in the governance, financing and systems needed to keep the world safe from epidemics and pandemics. There is an emerging global consensus around the need for an international treaty or other legally binding instrument, to provide the framework for a more coherent and coordinated response to future epidemics and pandemics.
Botswana was the first nation to say, “NO.” Then the entire continent of Africa declined to join the treaty, which is no surprise considering that these health organizations use their nations and people for experimental purposes. Russia, India, China, South Africa, Iran, Malaysia, and Brazil also rejected the treaty.
“National sovereignty is not something to be handed over to WHO or other entities and to be renounced just to join a club of seemingly advanced nations,” Brazil’s Bolsonaro said after threatening to exit the WHO. Former President Trump attempted to exit the WHO, but Joe Biden dragged America back into the organization. Trudeau does not care about the Canadian people and has continued to fight Parliament tooth and nail to hand his nation to Schwab on a silver platter.
We are not completely safe. “They have not given up though – far from it,” warned Queensland, Australia, Member of Parliament Stephen Andrew. “Instead, they did what they always do and ‘pivoted.’ At their request, a new working group was convened to make ‘technical recommendations on the proposed amendments which will [be] re-submitted along with the Pandemic Treaty, at the 77th Health Assembly meeting in 2024.”
One can hope that the voters will continue to elect leaders that fight for medical autonomy, as handing over full power to a corrupt organization will truly place us in a dystopian world void of freedom.
Armstrong Economics Blog/Politics Re-Posted Jun 9, 2022 by Martin Armstrong
Former President Luiz Inácio Lula da Silva, who plans to run again in the 2022 Brazilian Presidential Election, believes Zelensky is equally responsible for the ongoing war. “I see the president of Ukraine, speaking on television, being applauded, getting a standing ovation by all the [European] parliamentarians,” he said when speaking to Time. “This guy [Zelensky] is as responsible as Putin for the war.”
Lula believes Zelensky made a fatal misstep by failing to promise he would not seek to join NATO. Furthermore, he believes that he should have negotiated a settlement with Russia’s Putin long before the fighting began. “We should be having a serious conversation. OK, you were a nice comedian. But let us not make war for you to show up on TV,” Lula said, claiming the Ukrainian president simply wants more fame and attention.
Current Brazilian President Jair Bolsonaro has not condemned Putin’s actions. Vice President Hamilton Mourão claimed, “Brazil was not neutral,” but Bolsonaro quickly corrected that statement. “It is my decision, but I want to hear from people who are actually ministers to deal with these issues. We are for peace, we want peace. We traveled in peace to Russia. We had an exceptional interaction with President Putin,” he said, stating that Brail will not be taking sides. In fact, Bolsonaro traveled to Russia a week before the conflict began and spoke highly of his “friend” Putin.
Regardless of the West’s stance, Brazil does not appear poised to enter the conflict anytime soon. Brazil is likely more interested in securing lucrative deals with Russia now that they have been shunned from the global economy.