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BRICS in talks to create own cryptocurrency in another blow to US Dollar

BRICSCoin could be the world’s newest currency.

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The Head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev has stated that the BRICS may opt to create their own cryptocurrency for the purposes of global commerce.

A cryptocurrency is a digitally based means of exchange wherein the value of said currency is not determined by a central-bank. Most cryptocurrencies can be converted into state-issued currencies (Dollars, Euros, Yuan, etc.) through various foreign exchange services.

Currently, one of the biggest issues facing crypocurrency development is the fact that they are not backed up by any central bank. However, many also see this apparent disadvantage as a possible opportunity, particularly where unilateral Dollar based sanctions are concerned.

While the US Dollar remains the most popular global trading and reserve currency, this is rapidly changing. A BRICS backed cryptocurrency may be both the proverbial ‘Dollar buster’ as well as a ‘sanctions buster’.

In May of this year, China and Russia agreed to begin a process of trade in local currencies. Turkey and Iran have also begun steps to break away from the Dollar.

READ MORE: 5 ways Russia and China are deepening their cooperation

Even more recently, China announced that is plans to allow for oil trading in Yuan which will be convertible to gold at the Shanghai and Hong Kong international gold exchanges.

The creation of a BRICS cryptocurrency could potentially retain the flexibility of current cryptocurrencies with the additional benefit of being backed by the leaders of a large economic-trading union which would give traders confidence in such a currency that many existing cryptos such as Bitcoin are lacking.

It is not certain what the exchange rate of a would-be BRICSCoin would be, but there is every chance that it could be based on a derivative of what is known as Special drawing rights (XDR) a current means of exchange which pools the values of the US Dollar, British Pound, Japanese Yen and the Euro.

A possible variation which would set the initial exchange rates of a BRICSCoin could be a combination of a gold backed Chinese Yuan, Russian Rouble, Indian Rupee, South African Rand and Brazilian Real.

This could create an effective hybrid currency that could easy trade and make exchange rates between BRICS states and their partnership more equitable. There is also a potential for such a currency to be used as a means of everyday exchange among businesses and individuals in growing and emerging markets that seek to partner with the BRICS in the so-called BRICS Plus format.

While cryptocurrencies are relatively easy to create, they are more difficult to promote as a widely accepted means of exchange. However, with the prominent economies of the BRICS backing such a currency, this problem could be easily bypassed, as a semi-central regulatory body would likely be the logical outgrowth of such an initiative.

As Kirill Dmitriev stated during the BRICS summit in Xiamen China,

“Another topic discussed by the financial committee was cryptocurrencies. The creation of BRICS’ cryptocurrency as an alternative to other payment tools might also be discussed.

…cryptocurencies are also being discussed as one of the possible options for financial settlement. For particular payments it might be quite relevant and serve as a good alternative to the dollar or any other currency.

We estimate that the mutual investments of the BRICS countries might see an increase by 3-4 times due to such instruments as BRICS [Development] Bank”.

READ MORE: Russia seeks to break free of Dollar dependence

In many ways, the most powerful asset the US has internationally is the Dollar. If the effective hegemony of the Dollar is broken, it could be a substantial opportunity for emerging markets to assert their monetary and consequentially fiscal independence.

Russia is already taking its own steps towards developing its own cryptocurrency. According to Communications Minister Nikolay Nikiforov, a Russian cryptocurrency will be designed to work with existing Russian technologies rather than the foreign technologies which form the basis of the Bitcorn blockchain.

Nikiforov stated,

“Bitcoin and Etherium are cryptocurrencies developed on the basis of foreign cryptography. Russia has its own cryptography school. I think that we are absolutely capable of creating a cryptographic unit, a tool, based on the blockchain technology, and work out concrete regulations to set the framework for the operations”.

Such a currency could receive an official sanction from the Russian Central Bank. This technology could be used to help develop the BRICS wide crypto which has been widely discussed at the current summit.

The BRICS summit in Xiamen continues through the 5th of September.

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Abi Shah
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Abi Shah

The creation of the hegemonic and evil petro dollar needs to be eradicated because this dominance has put the entire globe under their rule and if it was not for Russia and China leading the way towards are more fairer system then I certainly believe Israel would and may and will bring about their new world order by stealing the wealth of other nations as it has been doing for decades such as greece ireland and many of the european nations. I for one would gladly shy away from the Dollar and rebuild a system that provides some kind of… Read more »

Jets
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Jets

Brilliant in every way and every word (especially the last sentence).

TEN thumbs up :-))

Ricardo Silva
Guest
Ricardo Silva

Israel is a great country, as they’re proving now by getting extremely upset at Netanyahu because he wasted some money. They’re even talking about removing him from the job. Wow!

Oddly enough, I never saw this many Israelis getting upset when Netanyahu Mass Murdered innocent civilians. Nor they get upset when they are asked to intentionally murder children and pregnant women. Israelis have no problems committing atrocities. They even celebrate it. Disgusting savages.

bcguy
Guest
bcguy

Great points. i know Russia did kick the rotchild money launderers out and he also paid off the IMF. This new currency backed by a development bank seems like a really good investment.

Abi Shah
Guest
Abi Shah

Thank you sir i truly believe that your certainly a petson of integrity because you r eyes are open to a much more sinister agenda by we know who>>Israeli zionists likud party and the entire puppet us congress.
What we should be appaulled at is when a new president of the united states is inaugurated the 1st mandate he has to sign is to pledge his undeniable allegiances to the zionist state of Israel..so plesse tell me what this really encompasses?

Wayne Blow
Guest
Wayne Blow

I knew there is a very sinister plot at play here “(BRICS)” the big threat to USA, UK, Israel!!!! They need a big war like North Korea to divert attention!!! Too effing bad for the 2 Koreas, but then pawns are just pawns, eh?

Trauma2000
Guest
Trauma2000

I keep reading up on articles that talk about ‘replacing the U.$. hegemonic dollar… blah blah” but I’m yet to read anything significant about the “framework” that is being developed to ‘replace the Reserve Bank’ framework that is controlled by the Rothschilds. Only when the ‘Reserve Bank’ framework ceases to be necessary, will countries be free to regain control their finances. It’s the ‘Reserve Bank Framework’ that keeps entire countries subservient to Rothschild controlled financial markets; not the presence of money per se. And what makes anyone think that the Rothschilds, and their incredible wealth, will not corner the CryptoCurreny… Read more »

Gareth Barnard
Guest
Gareth Barnard

Firstly there are no reserve banks in which any Rothschild has any stake. That’s fake news. Controlling monetary supply is also essential to maintaining it’s value and there is a free market in international currency exchanges.

Ricardo Silva
Guest
Ricardo Silva

Well, if that’s fake news, then… who the hell do all the countries from all over the world … own money to…? To the Aliens? To no one? Then we might as well stop paying.

You know very well that Zionists own and control the Federal Reserve. But why do you deny it? Are you hoping they’ll give you a stake in it, perhaps? Keep dreaming, little marionette.

bluewater
Guest
bluewater

a heads up …from an insider source…..Bitcoin was created by THE NSA and it is owned by ROTHSCHILD IT IS A SCAM and if you can not hold it in your hand..it is worthless..When the INTERNET GOES DOWN..YOU ARE SCREWED and BY LAW…THE NSA can take it away from you ..IT IS LEGAL FOR THEM TO DO IT!!!!! from another very good source…..YOU will not have a FINANCIAL RESET till the CABAL is taken out and they will …then you will have a new currency to use that will be backed up by GOLD.. THE ELITES..JPMORGAN,ROTHSCHILDS have been manipulating GOLD… Read more »

Ricardo Silva
Guest
Ricardo Silva

Stop injecting drugs… they’re bad for you.

jenuty
Guest
jenuty

no sense

Great Expectations
Guest
Great Expectations

‘It is not certain what the exchange rate of a would-be BRICSCoin would be, but there is every chance that it could be based on a derivative of what is known as Special drawing rights (XDR) a current means of exchange which pools the values of the US Dollar, British Pound, Japanese Yen and the Euro.’ NO chance whatsoever, I would have thought. The SDR is a tool created by the IMF so, while a SDR backed BRICSCoin might bypass central banks, it falls straight under the influence of the IMF, which ‘controls’ the central banks. ‘A possible variation which… Read more »

Gonzogal
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Great Expectations
Guest
Great Expectations

Thanks, I’ll take a look. Max Keiser on RT’s Keiser Report has done a full 180 degree turn on gold and bitcoin in the last year or so. He was promoting bitcoin again today and trashing Jim Rickards for focusing on gold. But Max never explained why he changed his mind so radically. Interesting.

Gonzogal
Guest
Gonzogal

You are welcome and I hope it answers some of your questions. I must say that I personally am not 100% clear of all the implications, but I can only liken it to the US Fed “creating money out of nothing” and seeing the similarities.

Great Expectations
Guest
Great Expectations

I agree.

Gonzogal
Guest
Gonzogal
Great Expectations
Guest
Great Expectations

Yep, thanks for that last one – just read it and it confirms what I thought and what Peter Schiff says in his podcast. Bitcoin does not pass the test for a currency and it is an as like anything else bought on the stock exchange. I haven’t had a chance to read all the zero hedges you linked yet but I’ve read similar on there before and I note in one of the ones you sent, China says it’s not a currency (was that the one above? Can’t remember, my grandson doesn’t like me concentrating on anything but him… Read more »

Gonzogal
Guest
Gonzogal

I saw that one last week.

What is interesting from the BRICS this year is the idea being solidified re a crypto currency for the BRICS nations and their partners to be able to circumvent sanctions etc! I imagine that that currency would possibly be backed by gold to solidify its worth.

Here is some info on it…it should be interesting to see it develop.
http://www.mintpressnews.com/blow-us-dollar-brics-considers-cryptocurrency/231571/
http://voiceofrussia.com/2013_10_09/What-will-happen-to-global-economy-if-BRICS-announce-launch-of-new-currency-Bricso-1897/

Great Expectations
Guest
Great Expectations

Yes, a basket of currencies (their own), along the lines of the IMF SDR idea; backed by gold, which Russia and China have been reputedly accumulating in large quantities, would make sense. India isn’t short of gold either. After the way Russia, China and Brazil have been treated by the international community (I mean the US elite), one can only wish them every economic success. I am still intrigued, though, how Brazil’s Michel Temer fits into the BRICS set up; Dilma Rousseff was impeached and dispatched politically, largely by Temer, who is Washington’s puppet. I can’t imagine the other BRICS… Read more »

Gonzogal
Guest
Gonzogal

I read Temer is up for impeachment too!
http://www.zerohedge.com/news/2016-11-25/brazil-president-temer-threatened-impeachment-after-new-corruption-scandal-emerges
On BRICS, he seems to be less vocal during the meetings but so far as I have heard he is on board with BRICS goals. This despite the US coup in Brazil it doesnt seem that there is some permanent damage done to the group. Although who knows for sure.

If there is problems on the horizon I think it might come from India, as it seems to be indecisive as to its commitment to BRICS vs the US.

Great Expectations
Guest
Great Expectations

Yes, India doesn’t seem to see eye to eye with China.

I thought that was Temer’s daughter standing with him.

With Brazil sliding all over the place, India playing all sides for its own gain and South Africa, which was a late arrival, it would seem that Russia and China are doing all the heavy lifting. Good reason to bring in some of the other Asian countries, I suppose.

Gonzogal
Guest
Gonzogal

Re South Africa, the US is trying to pull a “regime change” or else there.

As regards bringing in other countries, that is why they set up the BRICS+ and BRICS++. They are certainly not keeping anyone out that wants to work with them! It seems that even Germany is interested!
http://valdaiclub.com/a/highlights/re-thinking-the-brics/
https://sputniknews.com/politics/201703221051849196-brics-enlargement-plan/

India is upset because of Pakistan’s being part of the BRICS+
https://sputniknews.com/world/201703111051472250-china-pakistan-brics/

I dont know if you have seen this article re BRICS 2017 by Pepe Escobar, if not its a good read as to what turmoil seems to be going on.
http://www.atimes.com/article/odds-brics-nations-get-act-together/

Gonzogal
Guest
Gonzogal

Just read this article…SUPER interesting re India and Brazil as regards BRICS. It also mentions the other countries showing interest in BRICS http://www.atimes.com/article/real-brics-bombshell/

Gonzogal
Guest
Gonzogal

I just read this on the US’ SEC and the IMF possibly regulating (taking over) bitcoin. Super interesting and will be interested to see how the crypto currency of BRICS will be set up differently.
http://www.zerohedge.com/news/2017-09-05/global-elites-secret-plan-cryptocurrencies
http://www.zerohedge.com a;ways has a lot of articles on bitcoin (plus a lot of other interesting news)

dago dingo
Guest
dago dingo

Like a rabid dog at the end of its life, it lashes out & uses any means at it’s disposal to hurt others in order to survive, this is what we see happening before our very eyes. America is on the verge of collapse & it will use any means at it’s disposal to retain the empire. Hence all the Russo-phobia & China bagging. I say the death of this pariah, America cannot come soon enough!!! The world is sick to death of the wars it wages on sovereign soils, responsible for the deaths of millions of innocents in order… Read more »

Gareth Barnard
Guest
Gareth Barnard

Yes Dago. It’s time people like Kim Jong-ug take there rightful place on the stage of world power

dago dingo
Guest
dago dingo

Oh & the mad men running The Empire of Chaos are better???

Ricardo Silva
Guest
Ricardo Silva

Yep… Divide & Conquer is the plan. The Zionists have been destroying the USA by the inside since 1776… and the endgame is very near. The US will probably end up breaking up into a variety of different countries. United we stand, divided we fall.

Dennis Morrisseau
Guest

DO IT!

Popart 2015
Guest
Popart 2015

Cryptocurrency sounds like avoiding the problem! Why crypto if you can do the real deal?

Kubrickian
Guest
Kubrickian

That would be the currency to buy but like the ones before it you wouldn’t be able to buy it until the currency was inflated beyond what an average investor could afford.

Latest

Foreign Banks Are Embracing Russia’s Alternative To SWIFT, Moscow Says

Given its status as a major energy exporter, Russia has leverage that could help attract partners to its new SWIFT alternative.

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Via Zerohedge


On Friday, one day after Russia and China pledged to reduce their reliance on the dollar by increasing the amount of bilateral trade conducted in rubles and yuan (a goal toward which much progress has already been made over the past three years), Russia’s Central Bank provided the latest update on Moscow’s alternative to US-dominated international payments network SWIFT.

Moscow started working on the project back in 2014, when international sanctions over Russia’s annexation of Crimea inspired fears that the country’s largest banks would soon be cut off from SWIFT which, though it’s based in Belgium and claims to be politically neutral, is effectively controlled by the US Treasury.

Today, the Russian alternative, known as the System for Transfer of Financial Messages, has attracted a modest amount of support within the Russian business community, with 416 Russian companies having joined as of September, including the Russian Federal Treasury and large state corporations likeGazprom Neft and Rosneft.

And now, eight months after a senior Russian official advised that “our banks are ready to turn off SWIFT,” it appears the system has reached another milestone in its development: It’s ready to take on international partners in the quest to de-dollarize and end the US’s leverage over the international financial system. A Russian official advised that non-residents will begin joining the system “this year,” according to RT.

“Non-residents will start connecting to us this year. People are already turning to us,”said First Deputy Governor of the Central Bank of Russia Olga Skorobogatova. Earlier, the official said that by using the alternative payment system foreign firms would be able to do business with sanctioned Russian companies.

Turkey, China, India and others are among the countries that might be interested in a SWIFT alternative, as Russian President Vladimir Putin pointed out in a speech earlier this month, the US’s willingness to blithely sanction countries from Iran to Venezuela and beyond will eventually rebound on the US economy by undermining the dollar’s status as the world’s reserve currency.

To be sure, the Russians aren’t the only ones building a SWIFT alternative to help avoid US sanctions. Russia and China, along with the European Union are launching an interbank payments network known as the Special Purpose Vehicle to help companies pursue “legitimate business with Iran” in defiance of US sanctions.

Given its status as a major energy exporter, Russia has leverage that could help attract partners to its new SWIFT alternative. For one, much of Europe is dependent on Russian natural gas and oil.

And as Russian trade with other US rivals increases, Moscow’s payments network will look increasingly attractive,particularly if buyers of Russian crude have no other alternatives to pay for their goods.

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US leaving INF will put nuclear non-proliferation at risk & may lead to ‘complete chaos’

The US is pulling out of a nuclear missile pact with Russia. The Intermediate-Range Nuclear Forces Treaty requires both countries to eliminate their short and medium-range atomic missiles.

The Duran

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Via RT


If the US ditches the Intermediate-Range Nuclear Forces Treaty (INF), it could collapse the entire nuclear non-proliferation system, and bring nuclear war even closer, Russian officials warn.

By ending the INF, Washington risks creating a domino effect which could endanger other landmark deals like the Strategic Arms Reduction Treaty (START) and collapse the existing non-proliferation mechanism as we know it, senior lawmaker Konstantin Kosachev said on Sunday.

The current iteration of the START treaty, which limits the deployment of all types of nuclear weapons, is due to expire in 2021. Kosachev, who chairs the Parliament’s Upper House Foreign Affairs Committee, warned that such an outcome pits mankind against “complete chaos in terms of nuclear weapons.”

“Now the US Western allies face a choice: either embarking on the same path, possibly leading to new war, or siding with common sense, at least for the sake of their self-preservation instinct.”

His remarks came after US President Donald Trump announced his intentions to “terminate” the INF, citing alleged violations of the deal by Russia.

Moscow has repeatedly denied undermining the treaty, pointing out that Trump has failed to produce any evidence of violations. Moreover, Russian officials insist that the deployment of US-made Mk 41 ground-based universal launching systems in Europe actually violates the agreement since the launchers are capable of firing mid-range cruise missiles.

Leonid Slutsky, who leads the Foreign Affairs Committee in parliament’s lower chamber, argued that Trump’s words are akin to placing “a huge mine under the whole disarmament process on the planet.”

The INF Treaty was signed in 1987 by then-President Ronald Reagan and Soviet leader Mikhail Gorbachev. The deal effectively bans the parties from having and developing short- and mid-range missiles of all types. According to the provisions, the US was obliged to destroy Pershing I and II launcher systems and BGM-109G Gryphon ground-launched cruise missiles. Moscow, meanwhile, pledged to remove the SS-20 and several other types of missiles from its nuclear arsenal.

Pershing missiles stationed in the US Army arsenal. © Hulton Archive / Getty Images ©

By scrapping the historic accord, Washington is trying to fulfill its “dream of a unipolar world,” a source within the Russian Foreign Ministry said.

“This decision fits into the US policy of ditching the international agreements which impose equal obligations on it and its partners, and render the ‘exceptionalism’ concept vulnerable.”

Deputy Foreign Minister Sergey Ryabkov denounced Trump’s threats as “blackmail” and said that Washington wants to dismantle the INF because it views the deal as a “problem” on its course for “total domination” in the military sphere.

The issue of nuclear arms treaties is too vital for national and global security to rush into hastily-made “emotional” decisions, the official explained. Russia is expecting to hear more on the US’ plans from Trump’s top security adviser, John Bolton, who is set to hold talks in Moscow tomorrow.

President Trump has been open about unilaterally pulling the US out of various international agreements if he deems them to be damaging to national interests. Earlier this year, Washington withdrew from the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear program. All other signatories to the landmark agreement, including Russia, China, and the EU, decided to stick to the deal, while blasting Trump for leaving.

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Converting Khashoggi into Cash

After two weeks of denying any connection to Khashoggi’s disappearance, Riyadh has admitted that he was killed by Saudi operatives but it wasn’t really on purpose.

Jim Jatras

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Authored by James George Jatras via The Strategic Culture Foundation:


The hazard of writing about the Saudis’ absurd gyrations as they seek to avoid blame for the murder of the late, not notably great journalist and Muslim Brotherhood activist Jamal Khashoggi is that by the time a sentence is finished, the landscape may have changed again.

As though right on cue, the narrative has just taken another sharp turn.

After two weeks of denying any connection to Khashoggi’s disappearance, Riyadh has ‘fessed up (sorta) and admitted that he was killed by Saudi operatives but it wasn’t really on purpose:

Y’see, it was kinda’f an ‘accident.’

Oops…

Y’see the guys were arguing, and … uh … a fistfight broke out.

Yeah, that’s it … a ‘fistfight.’

And before you know it poor Jamal had gone all to pieces.

Y’see?

Must’ve been a helluva fistfight.

The figurative digital ink wasn’t even dry on that whopper before American politicos in both parties were calling it out:

  • “To say that I am skeptical of the new Saudi narrative about Mr. Khashoggi is an understatement,” tweeted Republican Sen. Lindsey Graham of South Carolina. “First we were told Mr. Khashoggi supposedly left the consulate and there was blanket denial of any Saudi involvement. Now, a fight breaks out and he’s killed in the consulate, all without knowledge of Crown Prince. It’s hard to find this latest ‘explanation‘ as credible.”
  • California Rep. Adam Schiff, the ranking Democrat on the House Intelligence Committee, said in a statement that the new Saudi explanation is “not credible.” “If Khashoggi was fighting inside the Saudi consulate in Istanbul, he was fighting for his life with people sent to capture or kill him,” Schiff said. “The kingdom and all involved in this brutal murder must be held accountable, and if the Trump administration will not take the lead, Congress must.”

Turkish President Recep Tayyip Erdogan must think he’s already died and gone to his eternal recreation in the amorous embraces of the dark-eyed houris. The acid test for the viability of Riyadh’s newest transparent lie is whether the Turks actually have, as they claim, live recordings of Khashoggi’s interrogation, torture, murder, and dismemberment (not necessarily in that order) – and if they do, when Erdogan decides it’s the right time to release them.

Erdogan has got the Saudis over a barrel and he’ll squeeze everything he can out of them.

From the beginning, the Khashoggi story wasn’t really about the fate of one man. The Saudis have been getting away with bloody murder, literally, for years. They’re daily slaughtering the civilian population of Yemen with American and British help, with barely a ho-hum from the sensitive consciences always ready to invoke the so-called “responsibility to protect” Muslims in Bosnia, Kosovo, Libya, Syria, Xinjiang, Rakhine, and so forth.

Where’s the responsibility not to help a crazed bunch of Wahhabist head-choppers kill people?

But now, just one guy meets a grisly end and suddenly it’s the most important homicide since the Lindbergh baby.

What gives?

Is it because Khashoggi was part of the MSM aristocracy, on account of his relationship with the Washington Post?

Was it because of his other, darker, connections? As related by Moon of Alabama: “Khashoggi was a rather shady guy. A ‘journalist’ who was also an operator for Saudi and U.S. intelligence services. He was an early recruit of the Muslim Brotherhood.” This relationship, writes MoA, touches on the interests of pretty much everyone in the region:

“The Ottoman empire ruled over much of the Arab world. The neo-Ottoman wannabe-Sultan Recep Tayyip Erdogan would like to regain that historic position for Turkey. His main competition in this are the al-Sauds. They have much more money and are strategically aligned with Israel and the United States, while Turkey under Erdogan is more or less isolated. The religious-political element of the competition is represented on one side by the Muslim Brotherhood, ‘democratic’ Islamists to which Erdogan belongs, and the Wahhabi absolutists on the other side.”

With the noose tightening around Saudi Crown Prince Mohammad bin Salman (MbS), the risible fistfight cock-and-bull story is likely to be the best they can come up with. US President Donald Trump’s having offered his “rogue killers” opening suggests he’s willing to play along. Nobody will really be fooled, but MbS will hope he can persuade important people to pretend they are fooled.

That will mean spreading around a lot of cash. The new alchemy of converting Khashoggi dead into financial gain for the living is just one part of an obvious scheme to pull off what Libya’s Muammar Kaddafi managed after the 1988 Lockerbie bombing: offer up some underlings as the fall guys and let the top man evade responsibility. (KARMA ALERT: That didn’t do Kaddafi any good in the long run.)

In the Saudi case the Lockerbie dodge will be harder, as there are already pictures of men at the Istanbul Consulate General identified as close associates of MbS. But they’ll give it the old madrasa try anyway since it’s all they’ve got.Firings and arrests have started and one suspect has already died in a suspicious automobile “accident.” Heads will roll!

Saving MbS’s skin and his succession to the throne of his doddering father may depend on how many of the usual recipients of Saudi – let’s be honest – bribery and influence peddling will find sufficient pecuniary reason to go along. Saudi Arabia’s unofficial motto with respect to the US establishment might as well be: “The green poultice heals all wounds.”

Anyway, that’s been their experience up to now, but it also in part reflects the same arrogance that made MbS think he could continue to get away with anything. (It’s not shooting someone in the middle of Fifth Avenue, but it’s close.) Whether spreading cash around will continue to have the same salubrious effect it always has had in the past remains to be seen.

To be sure, Trump may succeed in shaking the Saudi date palm for additional billions for arms sales. That won’t necessarily turn around an image problem that may not have a remedy. But still, count on more cash going to high-price lobbying and image-control shops eager to make obscene money working for their obscene client. Some big American names are dropping are dropping Riyadh in a sudden fit of fastidiousness, but you can bet others will be eager to step into their Guccis, both in the US and in the United Kingdom. (It should never be forgotten how closely linked the US and UK establishments are in the Middle East, and to the Saudis in particular.)

It still might not work though. No matter how much expensive PR lipstick the spinmeisters put on this pig, that won’t make it kissable. It’s still a pig.

Others benefitting from hanging Khashoggi’s death around MbS’s neck are:

  • Qatar (after last year’s invasion scare, there’s no doubt a bit of Schadenfreude and (figurative) champagne corks popping in Doha over MbS’s discomfiture. As one source close to the ruling al-Thani family relates, “The Qataris are stunned speechless at Saudi incompetence!” You just can’t get good help these days).

Among the losers one must count Israel and especially Prime Minister Bibi Netanyahu. MbS, with his contrived image as the reformer, was the Sunni “beard” he needed to get the US to assemble an “Arab NATO” (as though one NATO weren’t bad enough!) and eliminate Iran for him. It remains to be seen how far that agenda has been set back.

Whether or not MbS survives or is removed – perhaps with extreme prejudice – there’s no doubt Saudi Arabia is the big loser. Question are being asked that should have been asked years ago. As Srdja Trifkovic comments in Chronicles magazine:

“The crown prince’s recklessness in ordering the murder of Khashoggi has demonstrated that he is just a standard despot, a Mafia don with oil presiding over an extended cleptocracy of inbred parasites. The KSA will not be reformed because it is structurally not capable of reform. The regime in Riyadh which stops being a playground of great wealth, protected by a large investment in theocratic excess, would not be ‘Saudi’ any longer. Saudia delenda est.”

The first Saudi state, the Emirate of Diriyah, went belly up in 1818, with the death of head of the house of al-Saud, Abdullah bin Saud – actually, literally with his head hung on a gate in Constantinople by Erdogan’s Ottoman predecessor, Sultan Mahmud II.

The second Saudi state, Emirate of Nejd, likewise folded in 1891.

It’s long past time this third and current abomination joined its antecedents on the ash heap of history.

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