Ukraine president removed by Parliament. Opposition occupies the capital. A nation on the brink. What will Putin do?
The head of Yanukovich’s party in parliament, Oleksander Yefremov, said the deal includes early presidential elections in December, and a constitutional vote in September, according to the Interfax news agency. The question remains, is Yanukovych simply buying time?
Yanukovych also promised constitutional reforms trimming presidential powers, that has been a key demand of the protesters, most of whom are college educated. These are the people who had dreams and saw them turn to dust. Yet there are other groups with very different ideas as well as anti-capitalism and anti-semetic.
“As the president of Ukraine and the guarantor of the Constitution, today I am fulfilling my duty before the people, before Ukraine and before God in the name of saving the nation, in the name of preserving people’s lives, in the name of peace and calm of our land,” the president said in a statement on his website.
The question become the national debt of the country and if we are on the verge of a default that will most likely spread as another contagion through emerging markets as we are seeing this civil unrest in many countries.
The last line here is the unspoken story: Economic pain is a flashpoint for this, and other conflicts around the globe; pain caused by Western Central Bank policies. If Ukraine defaults, the ripples may spread like a digital Tsunami, inundating the shores surrounding Long Island, and covering Wall Street.
Black swans are lurking in so many places, and all it takes is for one to make its appearance, and more than a quadrillion* dollars of financial derivatives may begin to unravel and collapse.
(*Remember, a quadrillion is 1000 x a trillion, which is 1000 billion, which is 1000 million–in other words, a number so large no one can fathom it. Yet… this is the house of tattered cards our financial elite have erected, and its collapse will kill countless people all over, from starvation, loss of heat, and conflict.)