Kissinger Warns of "Fatal Mistakes" on Sanctions, Russia, Cold War

In response to "Brink" of a New Cold War? Another Cold War Already Started?, reader Ted informs me that former Secretary of State Henry Kissinger feels the same way about sanctions and the renewed cold war as I do.

Please consider Kissinger Warns of West’s ‘Fatal Mistake’ that May Lead to New Cold War.

Former US Secretary of State Henry Kissinger has given a chilling assessment of a new geopolitical situation taking shape amid the Ukrainian crisis, warning of a possible new Cold War and calling the West’s approach to the crisis a “fatal mistake.”

The 91-year-old diplomat characterized the tense relations as exhibiting the danger of “another Cold War.”

“This danger does exist and we can't ignore it,” Kissinger said. He warned that ignoring this danger any further may result in a “tragedy,” he told Germany’s Der Spiegel.

If the West wants to be “honest,” it should recognize, that it made a “mistake,” he said of the course of action the US and the EU adopted in the Ukrainian conflict. Europe and the US did not understand the “significance of events” that started with the Ukraine-EU economic negotiations that initially brought about the demonstrations in Kiev last year. Those tensions should have served as a starting point to include Russia in the discussion, he believes.

Calling the sanctions against Moscow “counterproductive,” the diplomat said that they set a dangerous precedent. Such actions, he believes, may result in other big states trying to take “protective measures” and strictly regulate their own markets in future.

BINGO

That's a BINGO on all accounts but one. It should be perfectly clear that a new cold war is not just a risk, a new cold war has already started.

Sanctions, threats from US Congress (especially Senator John McCain), and the reactions of president Obama, Chancellor Merkel, and UK prime Minister David Cameron are proof enough.

Kissinger is absolutely correct when he says sanctions against Moscow are “counterproductive,” and set a dangerous precedent.

They increase, not decrease, the threat of escalations, even war.

To Kissinger detractors I might point out that like Greenspan, it's possible he makes more sense in private life than he aver did in public life.

For further reading, please consider More Blowbacks: Russia to Build 8 New Nuclear Reactors in Iran; Putin Signs Another Gas Deal with China.

In regards to Greenspan, please consider Reader Question on Greenspan and Gold: "No Fiat Currency Can Match It".

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com