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Western Looting Of Ukraine Has Begun

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Source: Paul Craig Roberts

From http://www.youtube.com/watch?v=Us0cBU7ND4Q: The Rape of Ukraine: Phase Two Begins
The Rape of Ukraine: Phase Two Begins
(image by YouTube)


It is now apparent that the "Maiden protests" in Kiev were in actuality a Washington organized coup against the elected democratic government. The purpose of the coup is to put NATO military bases on Ukraine's border with Russia and to impose an IMF austerity program that serves as cover for Western financial interests to loot the country. The sincere idealistic protesters who took to the streets without being paid were the gullible dupes of the plot to destroy their country.

Politically, Ukraine is an untenable aggregation of Ukrainian and Russian territory, because traditional Russian territories were stuck into the borders of the Ukraine Soviet Republic by Lenin and Khrushchev. The Crimea, stuck into Ukraine by Khrushchev, has already departed and rejoined Russia. Unless some autonomy is granted to them, Russian areas in eastern and southern Ukraine might also depart and return to Russia. If the animosity displayed toward the Russian speaking population by the stooge government in Kiev continues, more defections to Russia are likely.

The Washington-imposed coup faces other possible difficulties from what seems to be a growing conflict between the well-organized Right Sector and the Washington-imposed stooges. If armed conflict between these two groups were to occur, Washington might conclude that it needs to send help to its stooges. The appearance of US/NATO troops in Ukraine would create pressure on Putin to occupy the remaining Russian speaking parts of Ukraine.

Before the political and geographical issues are settled, the Western looting of Ukraine has already begun. The Western media doesn't tell any more truth about IMF "rescue packages" than it does about anything else. The media reports, and many Ukrainians believe, that the IMF is going to rescue Ukraine financially by giving the country billions of dollars.

Ukraine will never see one dollar of the IMF money. What the IMF is going to do is to substitute Ukrainian indebtedness to the IMF for Ukrainian indebtedness to Western banks. The IMF will hand over the money to the Western banks, and the Western banks will reduce Ukraine's indebtedness by the amount of IMF money. Instead of being indebted to the banks, Ukraine will now be indebted to the IMF.

Now the looting can begin. The IMF loan brings new conditions and imposes austerity on the Ukrainian people so that the Ukraine government can gather up the money with which to repay the IMF. The IMF conditions that will be imposed on the struggling Ukraine population will consist of severe reductions in old-age pensions, in government services, in government employment, and in subsidies for basic consumer purchases such as natural gas. Already low living standards will plummet. In addition, Ukrainian public assets and Ukrainian-owned private industries will have to be sold off to Western purchasers.

Additionally, Ukraine will have to float its currency. In a futile effort to protect its currency's value from being driven very low (and consequently import prices very high) by speculators ganging up on the currency and short-selling it, Ukraine will borrow more money with which to support its currency in the foreign exchange market. Of course, the currency speculators will end up with the borrowed money, leaving Ukraine much deeper in debt than currently.

The corruption involved is legendary, so the direct result of the gullible Maiden protesters will be lower Ukrainian living standards, more corruption, loss of sovereignty over the country's economic policy, and the transfer of Ukrainian public and private property to Western interests.

If Ukraine also falls into NATO's clutches, Ukraine will also find itself in a military alliance against Russia and find itself targeted by Russian missiles. This will be a tragedy for Ukraine and Russia as Ukrainians have relatives in Russia and Russians have relatives in Ukraine. The two countries have essentially been one for 200 years. To have them torn apart by Western looting and Washington's drive for world hegemony is a terrible shame and a great crime.

The gullible dupes who participated in the orchestrated Maiden protests will rue it for the rest of their lives.

When the protests began, I described what the consequences would be and said that I would explain the looting process. It is not necessary for me to do so. Professor Michel Chossudovsky has explained the IMF looting process, along with much history.

One final word. Despite unequivocal evidence of one country after another being looted by the West, governments of indebted countries continue to sign up for IMF programs. Why do governments of countries continue to agree to the foreign looting of their populations? The only answer is that they are paid. The corruption that is descending upon Ukraine will make the former regime look honest.

 

http://www.paulcraigroberts.org/

Dr. Roberts was Assistant Secretary of the US Treasury for Economic Policy in the Reagan Administration. He was associate editor and columnist with the Wall Street Journal, columnist for Business Week and the Scripps Howard News Service. He is a contributing editor to Gerald Celente's Trends Journal. He has had numerous university appointments. His book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is available here. His latest book,  How America Was Lost, has just been released and can be ordered here.

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Speaking of Professor Michael Chossudovsky, I watc... by intotheabyss on Saturday, Mar 29, 2014 at 3:33:41 PM
What you watched is mostly inaccurate propaganda, ... by BFalcon on Monday, Mar 31, 2014 at 2:17:10 AM
What kind of propaganda, tell us more please ... by urb musak on Monday, Mar 31, 2014 at 9:26:17 PM
In another comment I elaborated how the movie ... by BFalcon on Tuesday, Apr 1, 2014 at 10:19:16 AM
RIGHT great documentary movie, as P.C. Roberts exc... by urb musak on Monday, Mar 31, 2014 at 9:28:29 PM
Watched this film. Interesting perspectives among ... by Pal Palsimon on Tuesday, Apr 1, 2014 at 1:08:14 AM
Some of the obvious truths you write about literal... by Pal Palsimon on Sunday, Mar 30, 2014 at 7:15:44 AM
There are the ten international banking houses an... by Lance Ciepiela on Sunday, Mar 30, 2014 at 6:17:58 PM
Thank you. I have only the most elementary underst... by Pal Palsimon on Sunday, Mar 30, 2014 at 6:40:51 PM
In 2012 I voted for Ron Paul because of my total d... by Pal Palsimon on Tuesday, Apr 1, 2014 at 1:46:58 AM
"I know very little ..." But you write a lot. ... by BFalcon on Monday, Mar 31, 2014 at 2:18:28 AM
Good writers know their limits and what they shoul... by Pal Palsimon on Monday, Mar 31, 2014 at 4:55:04 AM
Sounds like another North/South Korea or East/West... by CATT WHITE on Sunday, Mar 30, 2014 at 9:29:35 AM
Do you learn? ... by BFalcon on Monday, Mar 31, 2014 at 2:18:59 AM
The direction of our nation is not the result of a... by Neal Chalabi Chambers on Monday, Mar 31, 2014 at 8:26:56 PM
In a sane world the IMF and its backers would get ... by Jerry Lobdill on Sunday, Mar 30, 2014 at 9:44:33 AM
Why do they get away with this? Remember the stat... by Janet Gaudiello on Sunday, Mar 30, 2014 at 10:49:17 AM
Janet, you make a good point. i'm not a history bu... by b. sadie bailey on Sunday, Mar 30, 2014 at 1:25:33 PM
Sadie, you are absolutely right. It goes back fur... by Janet Gaudiello on Sunday, Mar 30, 2014 at 1:40:11 PM
Or maybe us 'blind' well informed people are more... by Neal Chalabi Chambers on Monday, Mar 31, 2014 at 7:54:24 PM
I think this man LaRouche has been a persecuted f... by Pal Palsimon on Tuesday, Apr 1, 2014 at 1:49:59 AM
The British Parliament was the first to draw the l... by Neal Chalabi Chambers on Monday, Mar 31, 2014 at 8:16:15 PM
Are you the pitchforks are are you just another i... by Neal Chalabi Chambers on Monday, Mar 31, 2014 at 8:21:53 PM
All wars are bankers wars! See Diary: All Wars ar... by Pal Palsimon on Tuesday, Apr 1, 2014 at 1:57:18 AM
Your false accusations, angry diatribe,  and... by Janet Gaudiello on Tuesday, Apr 1, 2014 at 8:04:36 AM
You are some copycat.  You try attacking me ... by Neal Chalabi Chambers on Wednesday, Apr 2, 2014 at 11:05:25 PM
The public is easily manipulated, which is the rea... by Pal Palsimon on Monday, Mar 31, 2014 at 4:57:38 AM
 Barack Obama is following the dictates of T... by Janet Gaudiello on Sunday, Mar 30, 2014 at 11:35:16 AM
London? House of Rothschild? ... by BFalcon on Monday, Mar 31, 2014 at 2:20:17 AM
At least you understood something there, Soros is ... by urb musak on Monday, Mar 31, 2014 at 9:35:15 PM
He's a Renta-President, right? Bought and paid for... by Pal Palsimon on Monday, Mar 31, 2014 at 4:59:04 AM
This is really quite too much. ... by BFalcon on Tuesday, Apr 1, 2014 at 10:16:56 AM
House of Rothschild ... by George W.Reichel on Sunday, Mar 30, 2014 at 5:26:58 PM
Posted on Truthout in response to an article com... by Pal Palsimon on Monday, Mar 31, 2014 at 2:43:13 AM
Putin is smarter.During the last decade Putin decr... by Wolfgang Walczak on Monday, Mar 31, 2014 at 11:13:09 AM
Absolutely RIGHT ... by urb musak on Monday, Mar 31, 2014 at 9:39:40 PM
All day the news repeats stories of North Korean... by Neal Chalabi Chambers on Monday, Mar 31, 2014 at 7:45:35 PM
In 2012 I voted for Ron Paul because of my total d... by Pal Palsimon on Monday, Mar 31, 2014 at 10:43:09 PM