The Russophobic hysteria sweeping the political and media establishment has to be placed in context. The current anti-Russian propaganda is the product of an empire in decline. Politicians, media pundits and academics of all colours in the U.S. are struggling to come to terms with the decline of their country as the world's policeman. They have no solutions to the existential economic, social, political and environmental crises facing America.

During Cold War 1.0 the U.S. was a power that completely dominated the world economy through the dollars reserve currency status and its industrial might. Now the U.S. is bankrupt and reliant upon other countries, including many of its ''enemies'' like China to buy treasury bonds and effectively bankroll the military industrial complex and handouts to Wall Street.

The coming collapse of the world economy that could be triggered by many things, rising yields in the bond market, a collapse of the derivatives market, rising oil prices etc will burst the balloon of the military industrial complex in the U.S. You cannot buy guns and bombs when the world knows you are bankrupt and are not willing to buy your worthless debt or worthless currency. Russia and China are playing the long game and waiting for their alternative to the dollar system to come to fruition - the one belt and road economic system.