Coin Press - Trump, Putin and the question: What now?

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Trump, Putin and the question: What now?

US President Donald Trump's (78) hopes for a quick diplomatic solution to the Ukraine conflict were sorely tried again yesterday. After a two-hour phone call with Russian dictator and war criminal Vladimir Putin (72), there is still no breakthrough in sight. Putin firmly rejected a proposal for a 30-day general ceasefire supported by Trump and stuck to his maximum demands, as Russian and American sources agree.

Trump, who has repeatedly promised to quickly end the war in Ukraine since taking office on 20 January 2025, has been counting on direct talks with Putin to make progress. He spoke to the Kremlin chief as early as Tuesday 18 March, after his vassal and ‘special envoy’ Steve Witkoff was in Moscow the previous week. The aim was to agree to a ceasefire, which had been accepted by Ukraine in previous talks with the US in Saudi Arabia. But Putin remains intransigent: a general ceasefire will only come into question if the US and its partners cease military and intelligence support for Ukraine – a demand that is unacceptable to Washington.

Instead, both sides merely agreed to a limited 30-day ceasefire in attacks on Ukraine's energy infrastructure, which is to take effect immediately. This was confirmed by both the White House and the Kremlin. However, experts view this as minimal progress. ‘It's not a real breakthrough,’ said Nicole Deitelhoff of the Leibniz Institute for Peace and Conflict Research, commenting on the results. Putin has hardly budged and is clearly showing that he will not be put under pressure – either by Trump or by other actors.

Ukraine itself is being left out of the negotiations, which is causing concern in Kiev and European capitals. President Volodymyr Zelenskyy had previously emphasised that any solution without Ukrainian participation sends a ‘dangerous signal’ to authoritarian regimes worldwide. European politicians such as German Foreign Minister Annalena Baerbock and her French counterpart Jean-Noël Barrot reiterated their demand that decisions about Ukraine must not be made over the country's head. ‘There can be no decisions about Ukraine without Ukraine,’ Baerbock said on the sidelines of talks in Paris.

While Trump spoke of ‘progress’ after the phone call, Putin's attitude shows that Russia does not want to give up its position of strength. In June 2024, the nefarious Kremlin leader had already made it clear that he sees the recognition of the Ukrainian territories annexed in 2014 and 2023, a demilitarisation of Ukraine and the end of Western sanctions as prerequisites for peace. He maintained this line in his conversation with Trump.

Reactions in Ukraine have been muted. Journalists report concerns that a forced peace could give Russia time to recover militarily, only to reignite the conflict later. In Europe, outgoing German Chancellor Olaf Scholz (SPD) warned against a ‘dictated peace’ that would weaken Ukraine. ‘Ukraine must retain a strong army even after a peace agreement,’ he emphasised.

For Trump, who had claimed during the election campaign that he could end the war ‘within 24 hours’, reality is increasingly becoming a challenge. Putin's uncompromising stance is undermining the US president's plans and raising the question of how long Washington can maintain its patience with Moscow. The coming weeks will show whether Trump will adjust his strategy – or whether the conflict will remain in limbo.

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Stargate project, Trump and the AI war...

In a dramatic return to the global political stage, former President Donald J. Trump, as the current 47th President of the United States of America, has unveiled his latest initiative, the so-called ‘Stargate Project,’ in a bid to cement the United States’ dominance in artificial intelligence and outpace China’s meteoric rise in the field. The newly announced programme, cloaked in patriotic rhetoric and ambitious targets, is already stirring intense debate over the future of technological competition between the world’s two largest economies.According to preliminary statements from Trump’s team, the Stargate Project will consolidate the efforts of leading American tech conglomerates, defence contractors, and research universities under a centralised framework. The former president, who has long championed American exceptionalism, claims this approach will provide the United States with a decisive advantage, enabling rapid breakthroughs in cutting-edge AI applications ranging from military strategy to commercial innovation.“America must remain the global leader in technology—no ifs, no buts,” Trump declared at a recent press conference. “China has been trying to surpass us in AI, but with this new project, we will make sure the future remains ours.”Details regarding funding and governance remain scarce, but early indications suggest the initiative will rely heavily on public-private partnerships, tax incentives for research and development, and collaboration with high-profile venture capital firms. Skeptics, however, warn that the endeavour could fan the flames of an increasingly militarised AI race, raising ethical concerns about surveillance, automation of warfare, and data privacy. Critics also question whether the initiative can deliver on its lofty promises, especially in the face of existing economic and geopolitical pressures.Yet for its supporters, the Stargate Project serves as a rallying cry for renewed American leadership and an antidote to worries over China’s technological ascendancy. Proponents argue that accelerating AI research is paramount if the United States wishes to preserve not just military supremacy, but also the economic and cultural influence that has typified its global role for decades.Whether this bold project will succeed—or if it will devolve into a symbolic gesture—remains to be seen. What is certain, however, is that the Stargate Project has already reignited debate about how best to safeguard America’s strategic future and maintain the balance of power in the fast-evolving arena of artificial intelligence.

Truth: The end of the ‘Roman Empire’

The fall of the Roman Empire in the fifth century AD has long captivated historians and the public alike. For centuries, scholars have debated the precise causes of the Empire’s decline, offering myriad explanations—ranging from political corruption and economic instability to moral degeneration and barbarian invasions. Yet despite the passage of time and the wealth of research available, there remains no single, universally accepted answer to the question: why did the Roman Empire truly collapse?A central factor often cited is political fragmentation. As the Empire grew too vast to govern effectively from one centre, Emperor Diocletian introduced the Tetrarchy—a system dividing the realm into eastern and western halves. While initially intended to provide administrative efficiency, this division ultimately paved the way for competing centres of power and weakened the unity that had long defined Roman rule. Frequent changes of leadership and civil wars further sapped the state’s coherence, undermining confidence in the imperial regime.Economics played an equally crucial role. Burdened by expensive military campaigns to protect ever-extending frontiers, the Empire resorted to debasing its currency, provoking rampant inflation and eroding public trust. The resulting fiscal strains fuelled social unrest, as high taxes weighed heavily upon small farmers and urban dwellers alike. Coupled with declining trade routes and resource depletion, these pressures contributed to a persistent sense of crisis.Compounding these challenges was the growing threat from beyond Rome’s borders. Germanic tribes such as the Visigoths, Vandals, and Ostrogoths gradually eroded the Western Empire’s defensive capabilities. While earlier Roman armies proved formidable, internal discord had dulled their edge, allowing external forces to breach once-impenetrable frontiers.Modern historians emphasise that the Empire did not fall solely because of barbarian invasions, moral decay, or fiscal collapse; instead, its downfall was the outcome of a confluence of factors, each interacting with the other. The story of Rome’s fall thus serves as a stark reminder that even the mightiest of civilisations can succumb to the inexorable weight of political, economic, and social upheaval.

China Targets Dollar at US Critical Moment

China has intensified its financial offensive against the United States, deploying significant measures to undermine the dominance of the US dollar at a time when America faces mounting economic and geopolitical challenges. Reports indicate that the People’s Bank of China (PBOC) has directed major state-owned banks to prepare for large-scale interventions in offshore markets, selling dollars to bolster the yuan. This move, seen as a direct challenge to the dollar’s status as the world’s reserve currency, coincides with heightened US vulnerabilities, including domestic political instability and a ballooning national debt nearing $35 trillion.The strategy builds on years of Chinese efforts to internationalise the yuan and reduce reliance on the dollar. Since 2022, China has accelerated dollar sell-offs, with Reuters noting similar directives from the PBOC in October of that year amid a weakening yuan. More recently, Beijing has leveraged its position as a key holder of US Treasury securities—still over $800 billion despite gradual reductions—to exert pressure. Analysts suggest that China aims to exploit the US’s current economic fragility, exacerbated by inflation and supply chain disruptions, to advance its long-term goal of reshaping global financial power.Russia’s alignment with China has further amplified this campaign, with both nations increasing trade in non-dollar currencies. In 2023, yuan transactions surpassed dollar-based exchanges in Sino-Russian trade, a trend that has only deepened. Meanwhile, whispers of more aggressive tactics persist, including unverified claims of plans to confiscate US assets within China, encompassing government, corporate, and individual investments. While such measures remain speculative, they reflect the growing audacity of Beijing’s financial warfare.The timing is critical. The US faces a contentious election cycle and a Federal Reserve grappling with interest rate dilemmas, leaving the dollar exposed. China’s actions also resonate within the BRICS bloc (Brazil, Russia, India, China, South Africa), which has openly discussed de-dollarisation, with proposals for a unified currency gaining traction at recent summits. If successful, this could erode the dollar’s global hegemony, a cornerstone of American economic influence since the Bretton Woods agreement of 1944.Yet, China’s gambit carries risks. Flooding markets with dollars could destabilise its own economy, heavily reliant on export surpluses tied to dollar-based trade. Moreover, the US retains significant retaliatory tools, including sanctions and control over the SWIFT financial system. For now, Beijing’s “big guns” signal intent more than immediate triumph, but the message is clear: China sees this as America’s moment of weakness—and its opportunity to strike.