Any league table of winners and losers from the war in Ukraine so far will inevitably be headed by the US 📨 Read Patrick Cockburn's newsletter here ⤵️
Britain, France, Germany, Canada and Poland along with other Nato and EU powers are also helping Ukraine militarily and are waging an economic war against Russia. But the burden of this is not equally distributed since, while the countries may provide less military aid to Ukraine than the US, “most of our European partners and allies are suffering far more from the economic consequences of their support for Ukraine and rise in global energy costs than Americans”.
It is often said that Putin and Russia are trapped in a war that they cannot win but they cannot end it without admitting defeat, which is something they dare not do without risking regime change in Moscow. There is much truth in this, but it is seldom noted that the US has also become locked into a proxy war with Russia in Ukraine from which it cannot emerge with anything less than a decisive victory without risking reputational damage to itself.
When it comes to investors stripped of their money there is one recurring aspect of frauds which has always fascinated me. This is their sheer blatancy and transparency and the ease with which they can be spotted. Again and again, it turns out that what looked like a Ponzi scheme a mile away was exactly that close-up.
Though his basic fraud was crude, he had more ingenious projects, one of which was explained to me by an Antiguan friend. She knew a lot about Stanford because he was trying to buy a strip of land close to the airport from her. He needed the property because he was planning to build a luxury holiday resort for very rich Russians adjacent to the airport on a nearby peninsula or island.
The aim of the raid was to hit German arms production and this was partially achieved by destroying hydro-electric power stations reliant on the dams. Collateral damage included at least 1,650 people, aside from others listed as missing. Most of the dead were forced labourers or prisoners of war, mainly from the Soviet Union, who were drowned by the flood water suddenly released when the dam walls were blown up.
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