Doug Noland: Nervous Time

``On various fronts, it does appear a Summer of Discontent is brewing. The "Ukraine" crisis shows no sign of resolution. Things could easily spiral out of control. The Russians are winning territory -- and the West seems powerless. In an interesting Bloomberg interview, Russia's foreign secretary Sergei Lavrov made it clear that sanctions will only stiffen Russian resolve. Lavrov also warned the U.S. risks sacrificing its reputation as the holder of the "key" to "virtual money" -- the "reserve currency." ''