@Halduell. My understanding is that the Russia/China deal was based on an agreement that each would use their own currency to pay for deals; i.e. bypassing the US$. When one takes into account other measures on the financial front being done with the BRICS and SCO it spells the beginning of the end of US$ hegemony. The implications are enormous and worthy of an article in OLO in its own right.

@James O'Neill while the BRICS and SCO will spell the end of USA/British hegemony, however we don't need a new hegemony initiated by Russia and China.

The way forward for peace and justice on this planet is for every country to have financial sovereignty ie their Govts are allowed to create the new money for growth + inflation debt free from international central banking parasites.

It is the new money that is created as debt that totally enslaves this planet. World GDP = $70 trillion. World phoney derivatives = $700 trillion. Who created all this money from nothing,which enables this phoney economy that drags us all into debt slavery and abject poverty ? 50 million Americans are on food stamps and Tony Abbott has us on their path to poverty.

James O'Neill's & Arjay,

It's too early to count your chickens, the US and Europe will probably outlast BRICS, SCO and any other acronyms that are invented by authors trying to promote their latest theories and books.
In 20 years nobody will remember BRICS, none of its members presently have the institutions to rival the America or Europe. China is probably the best bet, if the country becomes a democracy.

When I was at business school, Japan's GDP was forecast to be greater than America's by 2000 and India was the great hope, few people would have put any money on China.
Anyone remember the Soviet Union, Putin's Russia has inherited most of its culture.

My great hope for a new international monetary order is that it will deny any country the ability to impose sanctions in the self-serving fashion we have seen used by the US. The US had great power, and they have abused it shamelessly. I don't know what will come next, but I hope for better.

<<..With a background in international law,..one would have thought that his knowledge of sovereignty would be stronger. He definitely has an interesting way of showing it...>>

his mind sees..in chess logic.
currently..he is prepering to castle...and if the world..is to get..its long awaited promise..we must cocicrate russia properly ah la fatima.

<<..Unfortunately,..>>
at anytime..the church could have given mary her due[not jew]

<<..Russians typically live and suffer..through times of trial.>>
the state is their mother/its patriarchall bulls *hit..that fights endless war

<<..Democracy..>>under czar putin/protectorate of mary's earthly estate chattle flora flesh..a motherly living/loving govt protective service..<<..may change this though.>>

<<..Henry Kiss-singer has noted..that many Russians believe that Ukraine..is part of their heritage..>>

this is true
http://tarpley.net/
http://en.wikipedia.org/wiki/File:Austria_Hungary_ethnic.svg

<<..and rightfully theirs.>>
this is untrue

Ukraine’s puppet dictator Gen. Skoropadsky (center) confers with his masters Field Marshal von Hindenburg and General Ludendorff of the German Imperial General Staff at their headquarters at Spa, Belgium, September 9, 1918. Germany had created modern Ukraine earlier that same year as a source of food and a *counterweight to Russia.
http://en.wikipedia.org/wiki/File:Rzeczpospolita_1938.svg

untrue/too<<..Putin has capitalised on this

but usa/6 billion lobby eforts..made..all of this..<<in a time of desperation.>>

what rubbish
this is bolchovic jews kids comming home..on some blue eyed zion mission/and steal the bread bassket of the world/take ukrane-gold\and pol'ute it's lands by frakking leases/polute heaven/to create hell on earth/

usa cannot be allowed to further murder off..enemies of zion/putting people into the dark ages/one world..thats all we got

<<.. He has falling popularity and
is holding government because of his own corruption.>>

under communism/no one really owns anything
make himczar

<<Last week, I met with some young Ukrainians>>
well former/ukes really/they were kids from isarel/on pill-grime-age

<<..I pressed her again..on..the best case scenario.>>
<<She paused..and then said.."it would be nice"...>>

if palisteinians wernt here?
<<..if Russia wasn't here,>>

well it is..so get over it

To get back to the title of this article, I came across this in another article: "Right now, American media are working night and day to attribute blame for the troubles in Ukraine to Putin’s territorial ambitions. It won’t work. The tale they tell is so transparently at odds with the facts that the pretense is bound to collapse.
The real story is just the opposite: the geopolitical ambitions of the United States and the EU account for the troubles in Ukraine. No amount of media chicanery can suppress this stubborn fact for long."
It's worth a read - http://www.counterpunch.org/2014/05/16/cold-war-obama-style/