Things, as you may have noticed, are getting really interesting around this so called Russiagate story. I am not going to repeat points which many other, and way more competent than me in US Intelligence Community, people already stated. Among them are excellent pieces by both Publius Tacitus, at Colonel Lang's blog, and Phil Giraldi. I may add here only some points which I also already made on Colonel's blog. I repeat:
1. The significance of Nunes' (and not his only) Memo is not even in what is stated there--this to some degree was already known to many who had any brains left. Its significance is in staking out the framework of further development of the events and it is in making sure that they revolve around single and strategically crucial pivot of a clearly bogus contrived "dossier" which was the main reason for initiation of this whole anti-Russian and anti-Trump sabotage campaign. Now, after Memo was outed, no matter what amount of procedural and legalistic BS will be and is already being thrown around, the Memo, like those proverbial 95 Theses by Martin Luther, is nailed to the doors of a cathedral and can not be avoided.
2. It is clear that the depth of conspiracy is astonishing and most of Russiagate is built on lies, rumors and shoddy "intelligence". I personally have all reasons to believe that the so called "Russian government sources" which Christoper Steele claims are not really Russian government nor real sources. Steele's short stint in Moscow in 1990-92 at the height of the post-Soviet collapse and chaos by definition limits his claimed "contacts", rezidentura or whatever one calls it (a "network") to a collection of odious and now largely absolutely irrelevant political and intelligence figures who only go by this title of "sources in Russian government" in Steele's fairy tales. Steele certainly has no access whatsoever to any political, military or intelligence level in Russia which matters in current Russian government for a very simple reason of the whole framework: as events starting from 2008 has shown Anglo-American Intelligence apparatus is, well, not good. If the whopping intelligence-political failure to "handle" Russia is not a proof, then I don't know what is. If they couldn't predict something what was happening openly, in their faces, why would they be any better on anything else. As Phil Giraldi stated himself, CIA simply unlearned how to spy.
3. Most (there are, I assume, some exceptions) HUMINT sources in Russia for people like Steele can only be limited to already well known uber-liberal pro-Western "tusovka" which, while being an openly anti-Russian, exhibited itself to be also profoundly anti-Trump during election season. Apart from some Ukrainian angle in this whole story, I wouldn't exclude at all that some of those "Russians" who helped Steele to concoct his cocktail of BS could, indeed, be involved for a number of Russian internal political reasons plus making a "favor" for who they perceived at the time to be a winner of 2016 US Presidential Elections, that is HRC. It is not a secret that there were some significant hopes pinned on Trump's victory among some segments of Russia's body politic too. I will merely quote Phil Giraldi here:
One truly very interesting aspect of the Republican memo that has been scarcely commented upon is that even though the mainstream media is continuing to exercise its dangerous obsession with Russia by demanding that the Russiagate inquiry should continue full speed in spite of the concerns raised by the Republicans, there is absolutely nothing in the memo itself that indicates that Moscow tried to recruit any Trump associate as an agent or interfere in the U.S. election. The raison d’etre for the Congressional and Special Counsel Robert Mueller investigations appears to be lacking. Perhaps it is all sound and fury signifying nothing, but Russia might in reality have done little beyond the usual probing and nosing around that intelligence agencies routinely do. If the alleged Russiagate conspiracy is never actually demonstrated, which looks increasingly likely, it would certainly disappoint the many American talking heads and media “experts” who have been making a living off of bashing Moscow 24/7.
4. Once the time for "review" of State Department, as Nunes indicated, comes we may begin to see not only legal, already clear, challenges to the American nation as a whole, we may start seeing a larger framework of truly global conspiracy to unleash Cold War 2.0 both for Clinton-Liberal-Globalist cabal reasons and for internal economic reasons too. One of those reasons manifested itself two days ago in rather "impressive" dive of the Stock Market--this is just a tip of an iceberg and it is not even the most important one. But about this--later. New bag of popcorn is in order as are safety belts.