Vladimir Putin on the Western Sanctions Regime and Russia's Response

The West, particularly the United States, has been using sanctions against Russia for many years to force the nation's leadership into toeing what the West refers to as the "international order" with the sanctions regime reaching new levels after the Maidan uprising in Ukraine in 2014.  In a recent address at the plenary session of the 34th annual congress of the Russian Union of Industrialists and Entrepreneurs, President Putin addressed this issue and how Russia was coping with the current sanctions environment and would continue to deal with sanctions in the future.  Here are some quotes from his speech with my bolds throughout:

"Let me note that the Russian business community has faced significant challenges over the recent years. We are well aware of this. These include a powerful sanctions pressure, primarily restrictions on international settlements and transactions on external markets. As a whole, these and other challenges are undermining the freedom of trade and investment in the world economy. I will also say a few words about this as an aside.  

Importantly, Russian entrepreneurs have learned to work under sanctions during this period. They have adapted to sanctions, inventing and launching alternative mechanisms for cooperation with foreign partners – those who want to work with us. Besides, sanctions have become an additional catalyst of sorts to positive structural changes in the Russian economy, including in finance and technology, and in many other key spheres."  

Putin goes on to take a deeper examination of the sanctions environment, why the West has imposed them and how severe they are:

 "Sanctions are neither temporary nor targeted measures; they constitute a mechanism of systemic, strategic pressure against our nation. Regardless of global developments or shifts in the international order, our competitors will perpetually seek to constrain Russia and diminish its economic and technological capacities. 

Moreover, whereas the so-called Western elites previously attempted to cloak this confrontation in propriety, they now evidently seem to no longer feel the need to be concerned about appearances, nor do they intend to be. They not only routinely threaten Russia with new sanctions but churn out these packages incessantly. One gains the impression that even the architects themselves have lost track of the restrictions imposed and their targets.

Here, the Ministry of Finance has tallied them. I state with confidence: 28,595 sanctions against individuals and legal entities. This exceeds – by a significant margin – all sanctions ever imposed on all other nations combined."

He goes on to observe that no matter what Russia does, the Western elites will find some excuse to impose even more restrictions as they have done throughout the post-Soviet era:

"Even if there is some gesture from their side – say, they propose to lift or ease something – we can expect that another way will be found to exert pressure, to throw a spanner in the works, as was the case with the well-known Jackson–Vanik amendment. The Soviet Union, against which it was originally introduced, no longer existed, and relations between Russia and the United States of America were at their absolute best, as good as they could possibly be. Yet the amendment continued to remain in force. And when it was seemingly repealed, it was in fact simply replaced with another restrictive instrument against Russia. Recall this: repealed, then supplanted."

Putin states that all that these endless sanctions have done is to destroy the old unipolar world economic order and create a new one: 

"I reiterate: sanctions and restrictions are the reality of the existing new stage of development that the entire world, the entire global economy, has entered. The global competitive struggle has intensified, assuming increasingly sophisticated and uncompromising forms. 

Thus, literally before our eyes, a new spiral of economic rivalry is unfolding, and under these conditions, it is almost embarrassing to recall the norms and rules of the World Trade Organisation, once zealously promoted by the West. Once… When? When these rules advantaged them… As soon as they became disadvantageous, everything began to change. And all these negotiations stalled. And, in fact, no one needs them anymore.

This is evident, and I have emphasised it repeatedly: a return to pre-existing conditions is impossible. We should not anticipate fully unfettered trade, payments, or capital flows, nor rely on Western mechanisms to safeguard investor and entrepreneur rights."

Here he outlines how Russia can fight against the reality of Western-imposed sanctions:

"In these conditions, it is important for Russian businesses to show flexibility, explore new markets, design their own technological solutions, and establish cooperation with reliable partners, there are many of them in the world. Of course, the Government and the regions must provide, and are providing, the required support here. For my part, I will do everything possible to support this process. 

Russia is strengthening its sovereignty in all areas that would ensure the operation of businesses, such as the development of transport, logistics, and financial and payment infrastructure. We are already doing this and will definitely keep doing it.

I know and understand the challenges you are facing, but we will do everything to help you. Let me stress: only those countries that can ensure real, full sovereignty become stable in general and resistant to external pressure, and can progress dynamically in the interests of their people.

Let me give you a clear example. In fact, it is well known, but I will nevertheless use the occasion to say it again. We can see that most European countries have lost their sovereignty, and as a result they have faced serious problems both in the economy and in the security sphere. As for the economy, all of them have near-zero growth rates or are even entering a recession. On the contrary, the BRICS countries and those that wish to join the association understand the benefit of combining potentials, and in recent years they have been leaders in global growth, creating a high benchmark for economic dynamics.

Let me remind you that the GDP growth of the Eurozone was 0.9 percent in 2024, I mean of the “Big Seven” (Why is it big? It is not clear. What is big about it? Wherever you look, you can’t find any of them on the map.) that has the growth of 1.9 percent, while the BRICS has 4.9. In Russia, it was 4.1 for two years in a row – last year and the year before."

As we can see on this map from the World Bank, Russia's GDP growth far exceeded that of the Eurozone as a whole and on a nation by nation basis with rare exceptions:

Let's wrap up this posting with one final quote which looks at Russia's economic future as part of a global trading bloc:

"The so-called Western dominance slipping away, and new global growth centres taking the centre stage is a long-term trend, and I want to emphasise that. Yes, of course, we are fully aware of the advantages offered by our so-called Western partners, such as advanced technology and production process organisation. They have that, it is true. They have achieved a lot. We should respect that and use their best practices, but not copy them.  

We should keep in mind that growth rates in various regions of the world will remain stable over the next several decades. And the fact that we have, to a certain extent, refocused our priorities (not through our fault, by the way) due to a number of circumstances may be a good thing. We are shifting our focus to global promising markets. All things that we need we will get one way or another.  

Of course, this long-term trend will remain unchanged. It will be bolstered up by, among other things, the BRICS development platform that is currently taking shape. It will include resource, technology, personnel, finance, trade and investment components at a whole new level with the use of cutting-edge digital solutions, which will maximize the platform’s effectiveness and keep negative outside interference at bay. 

I very much count on Russian businesses taking an active part in these joint projects with our BRICS partners and future BRICS members."

He also makes it very clear that foreign companies that left Russia in 2022 will be welcomed back to do business in Russia in the future, however, the Russian government is developing a procedure that will coordinate their return with mandatory guarantees of good faith and conscientious business practices.  Foreign companies that left and have now been replaced by Russian businesses will not be given privileges or preferences if they choose to return and that companies who sold their businesses at fire sale prices when they left will not be able to repurchase these assets at the same highly discounted, ultra-low prices.

 Putin closes with this:

"I wish everyone success for the benefit of Russia."

Mark Carney, the Abortion Conundrum and Political Opportunism

As Canadians well know, the Liberal Party of Canada very often uses abortion as a wedge/dog whistle issue, claiming that the Conservative Party of Canada will move to ban abortion in Canada.  With that in mind, let's take a look at the abortion conundrum which now faces the Liberal Party of Canada and how it could affect the party in the future. 

 

I'd like to open this posting with a quote from this article from the Catholic News Agency dated October 4, 2021:

In the article, the author notes that Pope Francis has made significant comments about abortion including the following: 

1.) September 15, 2021 - Abortion is murder. 

2.) September 25, 2020 - Abortion should not be considered an "essential service"

3.) October 10, 2018 - Abortion is like hiring a hitman 

4.) June 16, 2018 - Abortion of disabled foetuses is like what the Nazis did

5.) February 18, 2016 - Abortion is against the Hippocratic oath and is an absolute evil. 

6.) June 18, 2015 - Concern for the protection of nature is incompatible with the justification of abortion

7.) September 20, 2013 - In all its phases and at any age, human life is always sacred.

The Catholic Church has always been very clear on its anti-abortion stance throughout recent history.

Now, you may wonder how this ties into Mark Carney, Canada's current unelected Prime Minister and leader of the Liberal Party of Canada who is now running for election.  Here's the connection:

The Tablet is a 185 year old Catholic weekly review which was founded in 1840 and is the second-oldest weekly journal in the United Kingdom.  

Carney also has links to the Vatican itself; he sits on the Vatican's Steering Committee of the Council for Inclusive Capitalism which was founded in 2020, spearheaded by Lynn Forester de Rothschild (yes, that Rothschild family). Thanks to Internet Archive, we still have evidence of this leadership role in this group:

While his bio has been scrubbed from the website, we can still see his face on this image taken from this webpage:

I would imagine that it's only highly influential and active/faithful Catholics that would be considered for steering committee membership in a Vatican-sponsored Council. 

Let's go back to the abortion issue.  Here is a quote from a press conference held on March 23, 2025 during his election announcement:

So, in Liberal leader Carney's current world, he supports a woman's right to choose an abortion, following the lead of the Liberal Party's stance on the issue.

Now, let's put the pieces together.  Mark Carney, a "high level" Catholic Church insider, a church that has very, very clearly condemned and vilified abortion, is now pro-choice.  Is this a political "marriage of convenience"?  Has he taken this stance to win over the Liberal voting base or, as in the the case of his sudden "deconversion" from his stance on carbon taxes as a necessary solution to achieve net zero, has he become just another political opportunist who will take any stance necessary to win votes? 

Only time will tell whether this avowed Catholic truly believes in the right of a woman to choose abortion.

The Digital Euro - The Next Step to a Cashless Surveillance State

As my long-term readers know, I have a fixation with digital currencies (aka central bank digital currencies) and the impending cashless society.  The European Central Bank (ECB) is taking additional steps toward implementing a digital euro through its work with all of the national central banks of Europe.

Here's how the ECB describes the digital euro:

"We are working with the national central banks of the euro area to look into the possible issuance of a digital euro. It would be a central bank digital currency, an electronic equivalent to cash. And it would complement banknotes and coins, giving people an additional choice about how to pay." 

Here are its key features:

The digital euro would be stored in an electronic wallet that was set up with a person's bank or other public intermediary such as a post office.  People will be able to deposit money into the digital wallet through a linked bank account or by depositing cash (until cash no longer exists).  Withdrawals from the wallet would be in the form of digital euros.

In this recent contribution from ECB Executive Board Member Piero Cipollone as found on the ECB's website:

....we find the following quote:

"Being a key player in digital payments and digital finance should be a priority for Europe." 

As Mario Draghi pointed out in his recent report, the productivity gap between the United States and the European Union is mostly explained by technology and finance.  If we take the information and communications technology (ICT) and financial sectors out, the gap disappears.  

If we want to close the productivity gap with the United States, we need to focus on these areas. Digital payments and digital finance stand at the intersection of these two sectors. And they are developing fast, driven by changes in habits and technology. This is both an opportunity and a risk for Europe. It is an opportunity to close the gap by developing innovative and competitive European solutions. But if we do not seize that opportunity, we run the risk of weakening our competitiveness, resilience and strategic autonomy....

We must move swiftly to counter the risks stemming from Europe’s current inability to secure the integration and autonomy of its retail payment system. This is one of the key reasons behind the digital euro project: to bring central bank money into the digital age. Doing so would provide firms and households with a digital equivalent to banknotes and would strengthen our monetary sovereignty....

Complementing banknotes, the digital euro would give all European citizens and firms the freedom to make and receive digital payments seamlessly.

The digital euro would provide a single, easy, secure and universally accepted public solution for digital payments in stores, online and from person to person. It would be available both online and offline, and would be free for basic use. 

For merchants, the digital euro would provide seamless access to all European consumers. Moreover, it would offer an alternative that would increase competition, thereby lowering transaction costs in a more direct way than is possible through regulations and competition authorities." 

Of course, the ECB is terribly concerned about privacy when it comes to its CBDC:

"Guaranteeing the privacy of digital euro users is an essential part of the project, and the proposed Regulation reflects this with strict provisions on data protection and privacy for both online and offline transactions. The offline functionality would offer users a cash-like level of privacy, both for person-to-person payments and payments in physical shops. The Eurosystem has indicated its readiness to explore the possibility of making a few improvements to the user experience of the digital euro, so that citizens with a stronger privacy preference can benefit from cash-like privacy for all their digital euro payments made in physical proximity. One possible improvement could be to give users the option (i) to make all their low value payments carried out in the proximity of the payee’s device offline payments by default and (ii) to decide on the amount they wish to regularly hold offline and benefit from automated funding, so they do not worry about their offline balance. In order to ensure that this improvement is convenient for users, the offline functionality should be available on mobile devices." 

According to the ECB, the digital euro is still in the preparation stage and the bank has called for applications, seeking potential providers of digital euro components and related services.  New user research and experimentation activities are now underway to gain insight into users' preferences and to inform decision-making for the digital euro; these include online surveys and interviews which will focus on special target groups such as small merchants and vulnerable consumers.  The findings of this phase will be published in mid-2025.  Following a call launched in November, the ECB will join with key stakeholders, including merchants, payment service providers, fintech companies and universities, to form innovation partnerships to test conditional payments (i.e. payments that are made automatically when predefined conditions are met) and explore other innovative use cases for a digital euro. An outcome report is expected to be published in July 2025. 

With the call for applications for providers of the components of a digital euro now underway, it's starting to look like a digital euro is more-or-less a given.  In fact, if you look at this graphic, you'll notice that the ECB's Governing Council will make a decision for the potential launch of the next phase of the digital euro project in October 2025:

In May 2024, eIDAS 2.0 (the European Digital Identity Regulation) entered into force, meaning that 400 million Europeans will now be eligible to soon avail themselves of an EU Digital Identity Wallet which will shift Europeans from physical documents to digital IDs.  This is a key step in the issuance of a European CBDC since digital euros will be stored in a digital wallet.  Here is a video showing the "benefits" of Europe's Digital Identity Wallet:

Let's close with this recent news from Reuters, a potential fly in the ointment for a digital euro and, for that matter, all CBDCs:

A late February 2025 unprecedented outage in the ECB's Target 2 (T2) payment system caused widespread chaos for ten hours, blocking payment for more than 15,000 elderly and poor Greeks, pensions and salaries in Austria and several financial trades thanks to malfunctioning hardware.  There was no backup system in place.

Here's more on the issue:

"Representatives from four of the eight groups that make up the European Parliament said the incident raised some questions about the ECB’s ability to deliver on its digital euro project, a new payment system open to all euro zone residents.

"This instance is a blow to the ECB’s credibility," said Markus Ferber of the European People's Party, the largest group in the current parliament.

"People will ask legitimate questions how the ECB will be able to run a digital euro when they cannot even keep their day-to-day operations running smoothly."   

Despite this brief setback, the progress on the implementation of a digital euro continues to march forward and with end of the preparation phase of the payments ecosystem expected by October 31, 2025 and a potential development and rollout projected from November 2025 as shown here:

Unless the unforeseen should occur, it would appear that the implementation of the world's first advanced economy central bank digital currency is a sure thing.

The Liberal Government's Solution to the National Housing Crisis

Canada's Mortgage and Housing Corporation or CMHC, the federal government's crown corporation which is responsible for Canada's housing through its administration of the National Housing Act, has recently released its solution to Canada's ongoing housing affordability crisis.  CMHC claims that it contributes to the well-being of Canada's housing situation, ensuring that more Canadians have access to affordable housing.  As such, it recently released its Housing Design Catalogue, a collection of standardized designs that will "make homebuilding easier" for Canadians.

Let's start by looking at Canada's housing affordability according to the National Bank:

 As you can see, in Canada's major cities, the monthly mortgage payments on a median-priced dwelling (includes non-condos and condos) as a percentage of household income has reached and remains at painful levels in Toronto (78.4 percent) and Vancouver (92.3 percent).  In Canada as a whole, mortgage payments are 56.6 percent of household income, up from an average of 40.7 percent since 2000. 

According to Statista, Canada's house price-to-income ratio was the second highest in the world in 2023 as shown here:

So, let's look at the Canadian government's solution to the housing problem:

Because one of the key aspects of Canada's housing plan is to densify neighbourhoods as quoted here from the website:

"Adding more homes to our neighbourhoods is a key part of addressing Canada's housing crisis.  The catalogue makes this easier by providing plans that are focused on infill development and gentle density.".

Gentle density - it's a nice way of describing a 15 minute city, isn't it?

Since the Canadian/Liberal government is so wonderful, they have provided housing designs for each part of Canada.  Let's look at one of the suggested housing designs for the least unaffordable regional market, British Columbia, noting that the publication says absolutely nothing about the cost of constructing or purchasing one of their recommended designs:

 

Let's look at the smallest design, the Accessory Dwelling Unit 01 which comes it a massive 540 square feet:

Here is a more detailed floor plan showing that occupants will essentially living in a three tiny room home:

 

Now, let's look at the recommended housing designs for Canada's second least affordable housing markets, Ontario:

Let's look at the smallest design, the Accessory Dwelling Unit 01 which comes it an ample 634 square feet:

Here is a more detailed floor plan showing that occupants will essentially living in a rather cramped three room home:

So, if you like the thought of living in someone's backyard in a dwelling that is roughly the size of two shipping containers, these are the housing plans for you.  You can guarantee one thing though - you won't find Canada's political class living in one of these tiny homes. 

Canada's housing market is a disaster zone thanks to the Liberal government's open border policy and, under the World Economic Forum insider and now Canadian Prime Minister Mark Carney, I would suspect that things will not improve. Young Canadians have no hope of owning a home but, then again, perhaps it's part of the "you'll own nothing and be happy" mantra of the ruling class.

Americans' Support for Israel and Palestine

Gallup recently released its annual poll which tracks Americans' support for both the Israelis and Palestinians.  The poll found the following:

 1.) Only 46 percent of Americans support the Israelis, down from 51 percent in 2024, the previous low point, and the lowest level since 2001.  Peak support for Israel was reached in 2018 at 64 percent meaning that, over the seven year period, support for Israel has dropped by 18 percentage points.  In contrast, 33 percent of Americans support the Palestinians, up from 27 percent in 2024 and the highest level since 2001 as shown here:

2.) 40 percent of American adults approve of Donald Trump's handling of the crisis between Israel and Palestine with 51 percent disapproving of his handling of the situation.  Not surprisingly, there is a significant gap depending on respondents' political persuasion with 80 percent of Republicans approving of Trump's performance compared to only 33 percent of independents and 9 percent of Democrats. 

3.) Partisan Middle East sympathies are significant as shown here:

Republicans overwhelmingly sympathize with Israel (75 percent to 10 percent) whereas Democrats show more sympathy toward Palestinians (59 percent to 21 percent) but it is important to note that Democrat sympathies for Israel has hit a 25 year low, down from 51 percent in 2001 and a peak of 58 percent in 2014 whereas support for Palestinians is at a record high of 59 percent, up from only 16 percent in 2001 and 43 percent in 2024.  You will also note that Democrats generally sympathized with Israel until 2022 when the party faithful showed nearly equal support for both Israel and Palestine.

4.) When it comes to the establishment of an independent Palestinian state in both Gaza and the West Bank (the two-state solution), 55 percent of Americans approve of the two state solution and only 31 percent disapprove.  The level of approval is at a near record, up from a low of 40 percent in 2000 as shown here:

Once again, opinion varies with political leaning with substantially more Democrats approving of an independent Palestine (76 percent) compared to only 41 percent of Republicans as shown here:

In general, the results of Gallup's poll shows that Americans are growing less sympathetic with Israel and more supportive of Palestinians and a two-state solution with a Palestine that is independent of Israel.  

A Digital Canadian Dollar - The Future of Mark Carney's Canada

Now that 130,000 Liberals have picked Canada's next Prime Minister, a former two-time central banker, we would be wise to think about where Canada is headed under a Mark Carney government, particularly when it comes to our personal financial futures.  His coronation brought back thoughts from late 2023 when the Bank of Canada, Carney's former employer, released a survey asking Canadians about their views on a digital Canadian dollar aka a central bank digital currency.  Let's look at an excerpt from the results of the survey which found the following:

1.) Canadians place a high value on holding cash that is backed by their central bank and want to maintain access to bank notes.

2.) Canadians value their right to privacy and many expressed concerns that a digital dollar could compromise that right.

3.) A digital dollar should be easily accessible and should neither add barriers nor worsen existing ones.

4.) A digital dollar should not add to financial stability risks.

Basically, Canadians who responded to the survey were strongly against a digital Canadian dollar and strongly backed the continued existence of bank notes, responses which the bank appears to have taken to heart at least publicly, however, it did leave itself one significant loophole as quoted here with my bold:

"In an era of rapid digitalization, the Bank is undertaking the necessary work to be ready if Canadians’ payment preferences or needs change. Ultimately, the decision about whether or when to issue a digital dollar will be up to Canadians and their elected representatives in Parliament."

Here's a screen capture showing the "What's Next" section of the report on the Bank of Canada's survey for posterity's sake:

 

And, there you have it.  The ultimate decision about whether to implement a digital Canadian dollar lies in the hands of Canada's Parliament which is now led by a former central banker and strong advocate of central bank digital currencies.  The stumbling block to Canada's CBDC has now been removed and I don't think that Mark Carney cares one whit about what Canadians think about a cashless society.

The only question now is how long will it be before Canada adopts a central bank digital currency?  Canada's only hope is that a Carney-led Liberal party is either defeated in the next election or remains in minority status as long as the other parties are anti-digital Canadian dollar.

The World Economic Forum and Ukraine - Building a Digital Prison

The globalist ruling class as represented by the Davos crowd is at it again.  With the recent kerfuffle in Washington and Europe over the future of Ukraine, we can assure ourselves that the World Economic Forum will be there to pick up the pieces.

Here is an announcement from the WEF on the launching of a "GovTech" centre in Kiev, only the second in the world after the centre in Berlin:

...and more:

This centre will be "part of the World Economic Forum’s Centre for the Fourth Industrial Revolution (C4IR) Network and represents only the second centre globally with a focus on GovTech following the signing of the Global Government Technology Centre Berlin (GGTC Berlin) in January 2024.  Together with GGTC Berlin, GGTC Kyiv will connect national GovTech ecosystems with a global network of experts to promote more efficient, effective and accessible public services." 

If you read down through the press release, you'll find this with my bolds:

"With technological advancements rapidly reshaping industries and societies globally, it is becoming increasingly imperative for nations to harness these innovations. In recent years, Ukraine has emerged as a global leader in GovTech and its experience can inform others in driving digital transformation within the public sector. Its Diia app with over 20 million users and the Diia platform integrate over 100 government services and tens of digital documents, ranging from digital ID cards and driver licences to business registration and social benefits, exemplifying the ways in which digital tools can simplify interactions between citizens and the state."

Or make it easier for the state to track and trace its citizens.

According to an article in Cities Today, Kiev's GovTech centre has now opened:

Here's a quote from the article:

"According to World Economic Forum Managing Director Mirek Dušek, the centre in Ukraine will support WEF’s global efforts to unlock the potential of digital technologies to improve public services and create new opportunities. And it will serve as a catalyst for public-private collaboration, fostering digital technology and innovation at a critical time for Ukraine and Europe.

Key features of the centre will include:

GovTech Observatory: A platform tracking global and national GovTech trends, enabling knowledge sharing and data-driven policy through research, tools, and global partnerships.

Innovation Gateway: A hub for piloting and scaling technologies in Ukraine, showcasing innovation in AI, EdTech, Defence Tech, and more, with global investment support.

FutureGov Education: A training platform for public sector leaders to adopt cutting-edge technologies, fostering experimentation and global collaboration.

The powers that ought not to be will be selling us the concept of "unlocking the potential of digital technologies" to "improve public services and create new opportunities" rather nebulous ideas, don't you think?

In other words, this WEF initiative will be launching point for a digital identity, an essential part of the central bank digital currency ecosystem.  Ukraine will be desperate enough for the jobs that it will go along with this plan by the rulers.  It will be simpler for the technocracy to use Ukraine to implement their plans for a digital prison by taking advantage of a nation whose infrastructure and economy has been completely destroyed, giving them the ability to build a neofeudal state from the ground up.