While Markets Worry About Banks, Biden Is Pushing Us Closer To World War.

Headlines this past week have been dominated by the new global banking crisis and rightly so.

We’ve seen the sequential collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, along with the bailouts of First Republic Bank and Credit Suisse. You can be certain that more bank failures are on the way.

Still, the banking crisis is not the only newsworthy development and may not even be the most important. The continual escalation of the War in Ukraine leading us on the path toward World War III and perhaps nuclear annihilation is clearly more important. Yet, it gets nowhere as much attention.

Here’s the latest: As reported in this article, two Russian fighter jets buzzed a U.S. drone (the MQ-9 Reaper) over the Black Sea near Russian Crimea. Reports vary about what happened, but the most credible version is that the Russians disabled the drone by dumping fuel on it and touching the drone’s propeller (located in the rear of the drone) with one of the fighter jets. The propeller naturally got shredded and the drone fell into the sea.

If true, that’s excellent flying by the Russian pilots. From there, the story gets cloudy. The Russians claim the drone was in or near Russian airspace. The U.S. does not recognize Crimea as Russian, so there would have been no airspace violation in the U.S. view.

The Pentagon released a flight tracker diagram that showed the drone in the middle of the Black Sea. This is most likely a Pentagon lie starting with the fact that’s there’s almost no reason to be in the middle of the Black Sea in the first place.

Regardless of the details, there’s no dispute that Russian pilots forced the U.S. drone out of the sky. This is the first time that U.S. and Russian aircrafts have come in direct contact in a way that caused a lost aircraft, albeit no shots were fired by Russia and the drone was unmanned.

It’s the latest in a long line of escalatory conduct by both the U.S. (the 2014 coup, providing stingers, javelins, HIMARS, ammunition, Patriots, and the promise of tanks and more on the way), and Russia (the 2022 invasion, increased troop levels, massive artillery bombardment, and more).

Ukraine’s Zelensky is now demanding U.S. F-16 fighter jets and U.S. troops on the ground. Both sides can point fingers, but at some point, the belligerents lose sight of who started the escalation and just focus on the escalation itself. War games, theory and history all point to escalation leading to nuclear war.

The U.S. conducted history’s only nuclear war from August 6 to August 9, 1945. We may be getting close to another one.  Very few seem even to notice.

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