July 31, 2014 – A matter-of-fact statement published in Financial Times includes some very discouraging words.
The quote, purported from someone close to Russian President Vladimir Putin, appears at the bottom of an article about the Yukos oil company’s $50 billion windfall in the case against Russia. It reads, “One person close to Mr. Putin said the Yukos ruling was insignificant in light of the bigger geopolitical stand-off over Ukraine. ‘There is a war coming in Europe,’ he said. ‘Do you really think this matters?'”
From my article at MoneyandMarkets.com:
War serves many purposes. It distracts from the malfeasance of the political classes as it busies giddy minds with foreign quarrels. It creates a symbiosis in which the media serves the state in its relentless grab for bigger budgets and greater police powers; while the state feeds the media’s need for high drama and the narcotic of fear. It provides for the deification of the state, which is then entitled to command all resources — human and material — without challenge or objection. If the state is divine, enemies and dissenters alike must be evil and dealt with accordingly.
Read the full article here.