In last week's News and Views from the Nefarium for April 3, 2014, I outlined recent Russian financial initiatives, including the coming establishment of domestic clearing in Russia free of the dollar, as a step towards a system of international clearing also free of it. For those who have been following this website, I've been arguing for some time that an inevitable consequence of the BRICSA entente would be the establishment of such a system, which appears to be being assembled slowly and with some deliberation, piece by piece, as exampled in various bilateral clearing agreements, the most recent being between Germany and China to clear in reminbi, as I also pointed out on last week's News and Views.

I have also advanced the argument that, historically, reserve currency status has normally accrued to the predominant naval power of an age: Venice, Portugal, Spain, France, Great Britain, and now most recently, the USA. I have also argued that with international clearing increasingly reliant upon electronic transfer, that the naval analogy is now more appropriately to be viewed as rooted in space and control of space communications assets. In this respect, I have argued that this will mean, if any truly independent challenge to US dollar reserve currency is to be mounted, that it will not only involve the establishment of international clearing free of Western-dollar dominated networks, but that it will also inevitably manifest itself in a renewed commitment from the BRICSA nations to expand their space commitments. Until such time as that occurs, the reserve status of the US dollar may be battered and weakened, but it will not go away.

In the wake of the Ukrainian-Crimean crisis, however,  which the Western media is still attempting to portray as almost entirely Russia's fault, and in the wake of the "sanctions" imposed on Russia by the Obama Administration, there are some looming problems, as NASA has announced suspension of all cooperation with Russia in space, excepting the International Space Station:

US-Russia Fight Has Entered Space

The problem with this latest move is that, like the sanctions, it is largely toothless:

"Just last week, a trio of astronauts, including two Russians and one American, launched into space on a Russian rocket, headed for the International Space Station. Without a shuttle program of its own, NASA depends on Russians to ferry its astronauts to and from the station, and pays them $70.7 million per seat. The U.S. space agency is working with private American companies to develop rockets and break out of Russia's transportation monopoly.

"'NASA is laser-focused on a plan to return human spaceflight launches to American soil, and end our reliance on Russia to get into space,' Wednesday night's statement read. 'This has been a top priority of the Obama Administration's for the past five years, and had our plan been fully funded, we would have returned American human spaceflight launches—and the jobs they support—back to the United States next year.'"

The US maintains, of course, a satellite launch capability, but this capability underscores a weakness, at least, a weakness insofar as publicly acknowledged launch technologies go: since the retirement of the space shuttle, the USA has no ability to launch large cargos or humans into space; Russia, on the other hand, with its Proton and Energia boosters, does. The Ukrainian-Crimean crisis, then, may be conveniently used as a "crisis of opportunity" to beef up the public space program again, or perhaps, even as a means to gradually reveal aspects of the secret space program - including launch technologies - that many, including this author, have suspected has existed for quite some time.

The catch, however, is revealed by the article: NASA has steadily been cut back in its funding, and that's the financial worm on this hook. The US ability to fund such programs, or a re-expansion of NASA, is dependent largely on public funding, and that in turn is dependent on the USA's ability to continue to sell bonds. So here's a high octane speculation and scenario: In last week's News and Views I also outlined how Mr. Putin very cleverly loaned money to the Ukraine by insisting that is (1) sell some $3 billion in sovereign debt instruments - bonds - that were (2) denominated in euros and not dollars, and (3) the bonds would be immediately called in by Mr. Putin if the Ukraine's debt-to-GDP ratio exceeded 60%, a rather ingenious way to impose controls on how much debt-from-thin-air its central banks could create.

The USA, of course, has, according to some estimates, exceeded this ration already.

Which leads to the high octane scenario: what if, as a condition of other nations continuing to by US treasuries, the major buyers of those instruments - Japan, China, Belgium(!) and so on - insisted as a condition, and in parallel and citing recent downgrades of the credit rating of those securities, that a similar ratio of debt-to-GDP would be a condition of their purchase? It would be a rather ingenious way to impose "austerity measures" on the USA and its governmental bodies and financial agencies, and a way of reigning in what many are seeing as an out-of-control American interventionism.

We're a long way off from such an event... or are we? ..because rest assured, if a hack from South Dakota can think of it, they can surely think of it in Beijing, Tokyo, Moscow, and Berlin.

See you on the flip side.


Posted in

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. DEBRA on April 11, 2014 at 10:41 am

    Well, of course Dr. Farrell and his readers have been right the whole time. Huge news today… and I think we can safely assume that China will be partnering with Putin on this project too.

    Voice of Russia headline Apr. 11, 2014: “Russia plans to get a foothold in the Moon – Dmitriy Rogozin”


    “Russia plans to organize a permanent base on the moon rather than leave it after several successful missions, the Russian deputy defense minister in charge of defense and space industries said. “The moon is not an intermediate point in the [space] race, it is a separate, even a self-contained goal. It would hardly be rational to make some ten or twenty flights to the moon, and then wind it all up and fly to the Mars or some asteroids.

    This process has the beginning, but has no end: we are going to come to the moon forever,” Dmitry Rogozin said in an article to be published by the government daily Rossiiskaya Gazeta on Friday. A mission to the Moon has become one of Russia’s top space priorities.”

    Read more:

    • marcos toledo on April 11, 2014 at 6:22 pm

      Thanks for the link Debra at least we have Russia, China and India states that have something more than war on their minds. That’s if the lunatics that run America don’t blow Earth up first.

  2. bdw000 on April 9, 2014 at 5:44 am

    “he naval analogy is now more appropriately to be viewed as rooted in space”

    I know this is rather trivial, but ever notice how in many science fiction stories, the “fleet” of space ships is explicitly called a NAVY?

    I remember as a kid wondering why scifi spaceship terminology wasn’t modeled on Air Force terminology, which seemed more appropriate (at the time). But nope, as far as I can recall, all the scifi I’ve read (not much in recent decades) usually, if not always, uses naval terminology when talking about spaceships.

  3. LSM on April 8, 2014 at 4:56 pm

    “that the naval analogy is now more appropriately to be viewed as rooted in space and control of space” if my read sources are correct even Bill Cooper finally realized his fed-info “alien” technologies/sightings actually had a terrestrial basis-

    “NASA has steadily been cut back in its funding, and that’s the financial worm on this hook. The US ability to fund such programs, or a re-expansion of NASA, is dependent largely on public funding, and that in turn is dependent on the USA’s ability to continue to sell bonds”-

    am not sure how many “Amerikuns” back then invested in bonds; probably more than we’d care to know about but I bet they all lost money investing in ‘NASA’ (since when do people at the end of the day actually win on Wall Street?)- I bet investing in “NASA” was another new investment front to lure and finally pilfer investors-

    then enter Gary McKinnon; that aside: are we to naivly assume NASA is the absolute front-runner in space technology?- then enter Russia which was always waay ahead in the initial space race; are we to blindly assume Russia is now ‘different’?-

    then enter Jay Weidner’s research on the faked moon-landing film footages- I forget the name of a Brit who has also been trying to expose the same thing for over 20 yrs and has been begging for over 20 yrs. to be proven wrong- no-one has yet challenged him- saw it on YouTube but his name escapes me temporarily- sorry to be so vague at the moment and cannot provide a necessary link so please forgive my weaknesses–

    anyway: I just think it’s typical, over-blown American ego to think we’re just so friggin’ more advanced than any other country in the world could possibly be- I think we need to re-think some things-

    please stay well all-


  4. DownunderET on April 8, 2014 at 2:25 pm

    NASA and the breakaway civilization are in a catch 22 situation. NASA wants access to the ISS, and the breakaway civilization want to colonize and weaponize space, the catch is they are going to have to come up with a transport system. We all know they already have one, but cant expose it. So all that talk of mining asteroids etc, is all talk at the moment, but eventually they are going to have to “invent” it. NASA’ budget has been cut, but the US is throwing money at Lockheed, GE etc, the game is afoot and the Russians are loving it.

  5. loisg on April 8, 2014 at 11:15 am

    If the US could take ET home over a decade ago, then they are probably quite equipped to protect their space assets now. I am not so concerned about the US/Russian conflict in that sense, as it seems more like a game of diversion to what may really be going on. Because I have a question about this new conflict and it is this: if the elites, the breakaway civilization or whoever is in control, has as their first priority or concern the UFOs that appear to be extraterrestrial, and they need the cooperation of the planet to confront this threat, then why go back and revisit an old conflict, isn’t that a step back not forward?

  6. marcos toledo on April 8, 2014 at 8:48 am

    There was a article and video posted on io9 about this nut raving about how the Bible backs up the Ptolemaic Earth centered universe. And while watching RT news today continuing proof of no nothingism rampant in America the people who supported the USA position in the Ukraine couldn’t point to it on a map of the world. I suppose if you show these idiots a map of the Solar System they be unable to point to the Earth-Moon ignorance is king in the USA. The dark ages are coming back in America. Just hoping those suppress propulsion system are finally reveled so the sane ones among us can get out of here soon.

  7. Robert Barricklow on April 8, 2014 at 8:18 am

    Since NASA stopped(if they ever started) cooperation with the USA(the breakaway civilization), it is a moot point; except in the public awareness sphere. Even the “Private/Public partnership” side of USA Space(privatize profits; socialize cost$) is a sham(e).
    Your “Debt to GDP” scenario is good.
    But you know, they’ll re-define it; like it was radioactive.

  8. justawhoaman on April 8, 2014 at 7:06 am

    As you suggested in the article, and I think Richard C. Hoagland has also surmised, we are possibly much closer to Disclosure than we may know. Some “genius” may be ready to make a “break-through”… as in breakthrough, breakaway, give me a break. I do not see the US giving up their control of the planet, at least not yet.

    Guess we could know a heck of a lot more by the end of June. It could be that your Secret Space Conference is perfectly timed, and only time will tell.

    The Bell?

  9. Lost on April 8, 2014 at 6:20 am

    Total US debt is different than the annual deficit.

    So would that be that the deficit for one year exceeded 60% of US GDP? (I guess that was close a couple of years ago, but things, at least by official numbers, have changed significantly.)

    More interested in the fact that the US satellite launch rocket, the Atlas 5, uses a Russian made engine. Guess it’s time to raise taxes back to the level of the 1960s in the US and do some advanced metallurgy research instead of simply contracting out to the capable.

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