RUSSIAN leader Vladimir Putin said yesterday that ‘Europe is offering proposals for a “peace plan” for Ukraine that are unacceptable to Russia.’
He added that: ‘Russia has no intention of going to war with European countries, but if Europe starts a war, Russia is ready right now, and then a situation could very quickly come where Moscow will have nobody to negotiate with.’ Russia has observed that ‘Europe has no peace agenda and is now even hindering US efforts to resolve the conflict’.
Putin has publicly declared that he is ready for peace, while the EU and Ukraine are heading for war
One of Russia’s main demands, that Ukraine commit to not joining NATO, was even given support by the NATO Secretary General Mark Rutte, who said that there was no viable path for Ukraine joining NATO.
It is Britain and Europe that are beating the war drums and stating that a major conflict is unavoidable.
They are driven to such action by the economic crisis, making them determined to hang on to Ukraine for its wealthy economy and its nearness to Russia, making it easier to try and grab back the nationalised economy of Russia, when ‘the time is ripe’.
But the Bank of England is in a huge crisis and has once again sounded the alarm about ‘foreign hedge funds buying up UK debt’ and warned that their speculative trades could trigger a major economic collapse.
It has even pointed out that the Labour Government is ‘increasingly reliant on a small group of opaque foreign investors to finance its large deficit’.
These hedge funds borrowed £100bn, secured against gilts in November – the highest since records began in 2017.
In fact, the Bank of England is worried that this could collapse like a house of cards in response to a financial shock ‘potentially starting a doom loop of fire sales as hedge funds offload gilts to cover the losses on these loans’.
In fact, the ‘Bank’s experts are growing nervous about the hedge funds’ appetite for gilts at a time when more traditional buyers of UK government debt, such as pension funds, are retreating’.
It has warned that it was ‘difficult to get a full picture of the speculation in UK debt’, meaning that the risks of a crash could build up unnoticed.
In its latest report, the Bank of England said that ‘the danger of a financial collapse had increased’, with its panel of experts repeating warnings about a ‘potential lethal bubble in AI stocks’.
The Bank said: ‘Equity valuations on the US are close to the most stretched they have been since the dot com bubble and in the UK since the global financial crisis – this heightens the risk of a “sharp correction” that could trigger a nasty financial shock.’
This nasty shock is now what is on the way at a record speed.
There is only one way out of the developing financial disaster for capitalism. This is that the working class in its trade unions must give the TUC its ‘Order of the Day’.
This must be that the TUC must immediately recall its Congress and call an indefinite general strike to bring down the rotten Labour regime in government.
It must be replaced with a Workers Government that will nationalise the banks and the major industries to bring in a nationalised socialist planned economy.
This is the only way, with a socialist planned economy, that Britain will be able to go forward and the only way out of this developing disaster being imposed on the working class.
This must be to organise a socialist revolution to nationalise the banks and the economy and engage in planned construction to bring in a society whose axiom will be ‘from each according to their ability to each according to their need’.
Capitalism must be relegated to the dustbin of history and a socialist society brought in by the workers of the world as the only way to end these imperialist wars and resolve the current disasters.
Build the Workers Revolutionary Party and the mass Young Socialists to lead this great struggle. The British and world socialist revolutions will put an end to the capitalist system that has been unable to take mankind a single step forward!
