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The
"peace talks," that were meant to take place in London on Wednesday, 23 April,
collapsed as US State Secretary
Marco Rubio and Trump's envoy
Steve Wytkoff cancelled their attendance. Instead, Wytkoff will be heading to Moscow for his fourth meeting with
Vladimir Putin. This will prove to be a watershed moment for European powers, dashing their last hope that the US will step up and provide an open-ended security guarantee for a Zelensky regime, or another western-aligned government in Kiev. I believe that this will ultimately precipitate a momentous credit market event for Europe, and trigger an irreversible crash in European financial markets.
As I detailed in last month's
report on Ukraine's rare earths hustle, the American role in Ukraine was essential to protect European interests in Ukraine. On 16 January this year,
Sir Keir Starmer flew into Kiev and signed a 100-year partnership with Kiev. In consideration of British support, including with GBP 3 billion a year (for as long as necessary),
Zelensky signed over the bulk of Ukraine's resources and infrastructure capital to British interests.Not a penny can flow...Britain's loot in Ukraine would serve as fresh collateral to shore up Britain's collateral-starved financial system. For his part, French President
Emmanuel Macron dreamed up a scheme about using Russia's frozen assets as collateral for French banks to fund the reconstruction of Ukraine. But as
Boris Johnson explained,
without the US security guarantee, "not a penny can flow from this investment." Starmer confirmed that "
US backstop is vital."
Well, US backstop is now off the table and both Britain and France, the core of Europe's "coalition of the willing," had to back away from their cunning plan of deploying their own
tripwire peace-keeping troops to Ukraine, cementing its defeat against Russia. This makes it all but inevitable that the terms of peace will be dictated by the Kremlin.
Comment: Moscow thanks Korean forces in Kursk Region liberation: