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“This Is A Perfect Storm” – EU Leader Warns Of “Black Swans” Everywhere, Says ‘Propaganda Is Our Battlefield’

October 14, 2022

“This Is A Perfect Storm” – EU Leader Warns Of “Black Swans” Everywhere, Says ‘Propaganda Is Our Battlefield’

“This is a perfect storm,” exclaims European Commission Vice President Josep Borrell in his opening speech to EU Ambassadors this week.

Having noted previously his warnings to The Fed that it is “bringing us to a world recession,” Borrell went considerably further in a surprisingly frank and plain-speaking address.

He began by warning that “the world we are facing is a world of radical uncertainty.”

The speed and scope of change is exceptional. We should not try to deny it. We should not try to resist it. It would be a futile effort. We have to accept it and to adapt [to] it, prioritising flexibility and resilience.

But uncertainty is the rule. Events that one could imagine that they will never happen, they are happening one after the other.

At this pace, the black swan will be the majority. It will not be white swans – all of them will be black – because one after the other, things have happened that had a very low probability of happening, nevertheless they happened, and they had a strong impact and certainly they happened.

The EC VP then goes on to try and summarize the extent of the European crisis and how they got there, admitting that they were entirely dependent on China (trade), Russia (energy), and US (security)…

I think that we Europeans are facing a situation in which we suffer the consequences of a process that has been lasting for years in which we have decoupled the sources of our prosperity from the sources of our security. This is a sentence to provide the headline, and I am taking that from Olivier Schmitt, who has been developing this thesis – I think – quite well.  

Our prosperity has been based on cheap energy coming from Russia.

…click on the above link to read the rest…

Lights out, ovens off: Europe preps for winter energy crisis

September 28, 2022

Lights out, ovens off: Europe preps for winter energy crisis

ADDING FULL NAME OF BUSINESS An employee pushes bread rolls into one of the gas heated ovens in the producing facility in Cafe Ernst in Neu Isenburg, Germany, Monday, Sept. 19, 2022. Andreas Schmitt, head of the local bakers' guild, said some small bakeries are contemplating giving up due to the energy crisis. (AP Photo/Michael Probst)
An employee pushes bread rolls into one of the gas heated ovens in the producing facility in Cafe Ernst in Neu Isenburg, Germany, Monday, Sept. 19, 2022. Andreas Schmitt, head of the local bakers’ guild, said some small bakeries are contemplating giving up due to the energy crisis. (AP Photo/Michael Probst)

FRANKFURT, Germany (AP) — As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Statues and historic buildings are going dark. Bakers who can’t afford to heat their ovens are talking about giving up, while fruit and vegetable growers face letting greenhouses stand idle.

In poorer eastern Europe, people are stocking up on firewood, while in wealthier Germany, the wait for an energy-saving heat pump can take half a year. And businesses don’t know how much more they can cut back.

“We can’t turn off the lights and make our guests sit in the dark,” said Richard Kovacs, business development manager for Hungarian burger chain Zing Burger. The restaurants already run the grills no more than necessary and use motion detectors to turn off lights in storage, with some stores facing a 750% increase in electricity bills since the beginning of the year.

With costs high and energy supplies tight, Europe is rolling out relief programs and plans to shake up electricity and natural gas markets as it prepares for rising energy use this winter. The question is whether it will be enough to avoid government-imposed rationing and rolling blackouts after Russia cut back natural gas needed to heat homes, run factories and generate electricity to a tenth of what it was before invading Ukraine.

Europe’s dependence on Russian energy has turned the war into an energy and economic crisis, with prices rising to record highs in recent months and fluctuating wildly.

…click on the above link to read the rest of the article…

IEA Head Warns “Wild West” Energy Scenario Could Unravel Europe

September 26, 2022

IEA Head Warns “Wild West” Energy Scenario Could Unravel Europe

The unity of EU member states could be in jeopardy as a dark winter fast approaches set to trigger a ‘continental scramble’ for energy resources. European countries would be in a “wild west scenario” in their attempt to pursue energy security which would result in souring relations with neighbors and cause worsening fuel and power shortages with risks of social unrest, warned Fatih Birol, the head of the International Energy Agency, who was quoted by the Financial Times.

Birol spoke Thursday in an interview at the inaugural Global Clean Energy Action Forum in Pittsburgh, Pennsylvania, when he explained the energy crisis threatens to shatter EU unity as countries could restrict or stop trading energy resources with neighbors to ensure their own energy security.

“The implications will be very bad for energy, very bad for the economy, but extremely bad politically … if Europe fails this test in energy, it can go beyond energy implications,” Birol said

The head of the Paris-based watchdog energy group was very straightforward about the two possible scenarios:

“EU and members will work in solidarity, supporting each other . . . or there is another scenario, if everybody is for himself.”

Meanwhile, earlier this month, the president of the European Commission, Ursula von der Leyen, was firm in her state of the union address that the unity of EU member states will prevail through this energy crisis.

But there has already been a breakdown in unity among some member states, as FT explains:

Norway’s Nordic neighbours last month blasted Oslo for “selfish” behaviour as it considered pausing electricity exports while it refilled its hydroelectric reservoirs. 

…click on the above link to read the rest of the article…

IMF Chief: Harsh Winter May Spark Social Unrest In EU Amid Energy Crisis

September 16, 2022

IMF Chief: Harsh Winter May Spark Social Unrest In EU Amid Energy Crisis

A number of countries in Europe may experience social unrest if the upcoming winter is harsh amid an economic crisis, the head of the International Monetary Fund (IMF) warned on Wednesday.

“There is certainly fear of recession in some countries, or even if it is not recession, that it would feel like recession this winter,” said Kristalina Georgieva, managing director of the IMF.

“And if Mother Nature decides not to cooperate, and the winter is actually harsh, that could lead to some social unrest,” she added.

Attending the 2022 “Michel Camdessus Central Banking Lecture” held in Washington, D.C., Georgieva pointed out that Europe is directly affected by Russia’s attack on Ukraine, saying the war has led to “horrible” economic consequences and added fuel to fears of recession in some countries.

Georgieva said the current situation meant that the European Central Bank needed to be “mindful of the necessity to keep the economy going,” while also remaining persistent in fighting broad-based inflation.

“Inflation is stubborn, it is more broad-based than we thought it would be,” Georgieva said. “And what it means is … we need central bankers to be as stubborn in fighting it as inflation has demonstrably been.”

Second-Order Effects

Georgieva noted at the event that the global economy had two consecutive shocks, the COVID-19 pandemic and Russia’s attack on Ukraine, which contributed to surging prices and a cost-of-living crisis.

The disruptions in the flows of Russian gas to Europe remain the primary cause of Europe’s current energy crisis. The continent has relied upon cheap Russian energy for years to power factories, generate electricity, and heat homes.

…click on the above link to read the rest of the article…

Europe Is Facing Energy Disaster And It’s Going To Bleed Over Into The US

September 11, 2022

Europe Is Facing Energy Disaster And It’s Going To Bleed Over Into The US

Though the situation is ever changing, currently the Russian government has announced an official shutdown of ALL natural gas exports to Europe through the Nord Stream 1 pipeline and plans to maintain the shutdown until the EU ends its economic sanctions over the war in Ukraine. This means that around 40% of Europe’s energy resources are now gone, with supply chain issues surrounding the other 60% and prices skyrocketing for households and businesses.

Back in March in an article titled ‘The Biggest Lies (So Far) Surrounding Russia And Ukraine’ I noted that:

“…There’s something else the media does not talk about much, which is Europe’s reliance on Russian oil and natural gas. If you want to see actual price inflation caused by Russia, let the EU ban Russian oil imports, or watch as Putin cuts off the supply. Europe is dependent on Russian oil and gas for about 40% of overall energy production. They cannot even survive a single year without it. If Russia retaliated and blocked energy exports to Europe, the the EU would have to siphon oil from many other countries, reducing global supply dramatically. This would cause gas prices to explode to double or even triple current levels.”

Back in April of this year in my article ‘The Media Is Ignoring These Two Events Which Could Cause Economic Collapse’ I predicted that:

“…The Russian economy is not about to fold anytime soon, and now the EU, which is reliant on Russian oil and gas exports for 40% of their energy needs, is about to face economic doom unless they submit to paying for energy in rubles (which they won’t) or find a replacement source for gas and oil (which is impossible)…

…click on the above link to read the rest of the article…

This Winter, Europe Plunges Into “The New Dark Ages”

September 11, 2022

This Winter, Europe Plunges Into “The New Dark Ages”

Could you imagine being sent to prison for three years if you dared to set your thermostat above 66 degrees Fahrenheit?  As you will see below, this is a proposed regulation that is actually being considered in a major European country right now.  If you have not been paying much attention to what is happening in Europe, you need to wake up.  Natural gas in Europe is seven times more expensive than it was early last year, and that is because of the war in Ukraine.  Over the past few decades, the Europeans foolishly allowed themselves to become extremely dependent on gas from Russia.   In fact, more than 55 percent of the natural gas that Germany uses normally comes from Russia.  But now the war has changed everything, and Europe is facing an extremely harsh winter of severe shortages, mandatory rationing and absolutely insane heating bills.

Things are going to get very cold and very dark all over Europe in the months ahead, and those Europeans that choose to rebel against the new restrictions that are being implemented could literally find themselves in prison…

Switzerland is considering jailing anyone who heats their rooms above 19C for up to three years if the country is forced to ration gas due to the Ukraine war.

The country could also give fines to those who violate the proposed new regulations.

Speaking to Blick, Markus Sporndli, who is a spokesman for the Federal Department of Finance, explained that the rate for fines on a daily basis could start at 30 Swiss Francs (£26).

19 degrees Celsius is just 66 degrees Fahrenheit.

If you live in Europe, prepare to dress very warmly this winter.

…click on the above link to read the rest of the article…

Germany’s energy suicide: an autopsy

September 10, 2022

Germany’s energy suicide: an autopsy

When Green fanatic Robert Habeck, posing as Germany’s Economy Minister, said earlier this week “we should expect the worst” in terms of energy security, he conveniently forgot to spell out how the whole farce is a Made in Germany cum Made in Brussels crisis.

Flickers of intelligence at least still glow in rare Western latitudes, as indispensable strategic analyst William Engdahl, author of A Century of Oil, released a sharp, concise summary revealing the skeletons in the glamour closet.

Everyone with a brain following the ghastly Eurocrat machinations in Brussels was aware of the main plot – yet hardly anyone among average EU citizens. Habeck, Chancellor “Liver Sausage” Scholz, the European Commission (EC) Green Energy VP Timmermans, EC dominatrix Ursula von der Leyen, they are all involved.

In a nutshell: as Engdahl describes it, this is about “the EU plan to de-industrialize one of the most energy-efficient industrial concentrations on the planet.”

That’s a practical translation of the UN Green Agenda 2030 – which happens to be metastasized into crypto Bond villain Klaus Schwab’s Great Reset – now renamed “Great Narrative”.

The whole scam started way back in the early 2000s: I remember it vividly, as Brussels used to be my European base in the early “war on terror” years.

At the time, the talk of the town was the “European energy policy”. The dirty secret of such policy is that the EC, “ advised” by JP MorganChase as well as the usual mega speculative hedge funds, went all out into what Engdahl describes as “a complete deregulation of the European market for natural gas.”

That was sold to the Lugenpresse (“lying media”) as “liberalization”. In practice, that’s savage, unregulated casino capitalism, with the “free” market fixing prices while dumping long-term contracts – such as the ones struck with Gazprom.

…click on the above link to read the rest of the article…

The EU’s Crisis Is Global: Neocolonialism, Hyper-Financialization and Hyper-Globalization Come Home to Roost

September 10, 2022

The EU’s Crisis Is Global: Neocolonialism, Hyper-Financialization and Hyper-Globalization Come Home to Roost

The EU’s crisis isn’t limited to energy. It is a manifestation of the global breakdown of Neocolonialism, Financialization and Globalization.

The European Union (EU) was seen as the culmination of a centuries-long process of integration that would finally put an end to the ceaseless conflicts that had led to disastrous wars in the 20th century that had knocked Europe from global preeminence.

Wary of the predations of the U.S. and rising Asian powers, European nations sought the economic and diplomatic strength of a confederation that would be greater than the sum of its parts, a union that would restore Europe’s rightful place as a global power.

This worthy goal was undermined by the destructive dynamics of the past forty years: Neocolonialism, Financialization and Globalization.

These dynamics are unstable due to their internal contradictions. In classical colonialism, the Core dominates the Periphery with force, extracting economic value by exploiting the subject states’ commodities and forcing the colonies to buy the valued-added finished goods produced by the colonial power’s domestic economy.

This extractive model was at odds with the liberal worldview of the colonial powers which held self-rule and open markets as necessary to stable prosperity. The contradictions of classical colonialism led to its collapse as colonies broke free and the colonial powers were forced to navigate a more open global economy.

Beneath the glossy vibe of strength through unity, the EU institutionalized a Neocolonial Model in which some EU members are more equal than others, a divide that was starkly revealed in the debt crisis of 2011-2012.

I described the EU’s version of the Neocolonial Model in 2012: The E.U., Neofeudalism and the Neocolonial-Financialization Model (May 24, 2012)

…click on the above link to read the rest of the article…

Nobody could have seen it coming

September 7, 2022

Nobody could have seen it coming

Eighteen months ago, the UK average annual combined gas and electricity bill was £1,287.  Later this week, we expect to learn that it will rise to £3,582 in October and to £4,266 in January 2023.  Not, in reality, that anybody is going to pay that amount.  All but those at the very top of the income ladder will instead cut back on energy use, with those at the bottom forced to self-disconnect.  The problem is far worse for business users, who are not “protected” by the price “cap” imposed by the regulator.  Energy is often the third largest cost – after wages and taxes – to businesses which have already been struggling with higher input and debt-servicing costs.  What this is pointing to is a major affordability crisis this winter, with growing concerns for public health and the likelihood of a recessionary wave of business insolvencies.

As with the 2008 crash, the Versailles-on-Thames establishment are keen to point out that “nobody could have seen it coming.”  After all, “Putin’s invasion of Ukraine,” coming just as the economy was staggering out of a two-year pandemic – itself arriving just months after the UK finalised Brexit – amounts to a combination of events which would have been considered outlandish in a work of fiction…  except that a work of partial fiction – a docudrama – accurately set out the main causes of the UK’s current energy woes eighteen years ago.

In 2003, BBC programme makers began work on a series called “If… ,” which aimed to explore the future crises which required political leaders to act immediately, using drama to make the point.  The three series, which were broadcast between March 2004 and May 2006, tackled issues like the impact of obesity on public health, the growing disparity between rich and poor, and intergenerational conflict between the boomers and millennials…

…click on the above link to read the rest of the article…

Dead of Winter

September 1, 2022

Dead of Winter

“There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger

In the United Kingdom, a grassroots protest movement has broken out in response to the ongoing energy crisis. With the bill from its failed national policies coming due, ordinary citizens are organizing campaigns to ensure they are not the ones left holding the bag. The mission of Don’t Pay UK is to gather at least one million commitments from Her Majesty’s loyal subjects to simply stop paying their energy bills as of October 1, 2022. At the time of this writing, Don’t Pay UK has passed 130,000 signatures. We expect that number to grow.

In reading a recent profile of the movement by Euronews Green, we were struck by the framing of the crisis by some of the movement’s organizers. This quote from the piece and the photo we have reproduced below caught our attention (emphasis added throughout):

“Lewis Ford, an organiser from Hull, agrees the movement is ‘a lot about solidarity’, especially for those forced to choose between heating their home and feeding their family.

‘We’re already talking about the idea of setting up warm banks, which is an absolutely preposterous idea,’ the 31-year-old IT consultant tells Euronews Green. ‘We’re one of the richest nations. So, it’s not like there’s no money, it’s the fact that the money is being kept in one space.’”

Unicorn hunter | Euronews Green

Sadly for Mr. Ford and the well-intended but totally naïve young woman holding out hope that the unicorn concept of “cheaper cleaner greener” energy is actually a thing, they are both victims of insidious propaganda…

…click on the above link to read the rest of the article…

“How In The Name Of God”: Shocked Europeans Post Astronomical Energy Bills As ‘Terrifying Winter’ Approaches

August 31, 2022

“How In The Name Of God”: Shocked Europeans Post Astronomical Energy Bills As ‘Terrifying Winter’ Approaches

Over the past week, shocked Europeans – mostly in the UK and Ireland – have been posting viral photos of shockingly high energy bills amid the ongoing (and worsening) energy crisis.

Several of the posts were from small business owners who getting absolutely crushed right now, and won’t be able to remain operational much longer.

One such owner is Geraldine Dolan, who owns the Poppyfields cafe in Athlone, Ireland – and was charged nearly €10,000 (US$10,021) for just over two months of energy usage.

Geraldine Dolan, of Poppy Fields Cafe, Athlone, with an electricity bill for just under ten thousand euro for two months. Photograph: Dara Mac Dónaill / The Irish Times Photograph: Dara Mac Donaill / The Irish Times

As the Irish Times reports, “The cost of electricity to the Poppyfields cafe for 73 days from early June until the end of August came in at €9,024.70 an increase of 250 per cent in just 12 months. There doesn’t include the €812.22 in VAT, which brought her total bill to €9,836.92.”

“How in the name of God is this possible,” tweeted Dolan.

UK pensioners are also facing a “terrifying” winter, as elderly Britons are about to get hit with an 80% rise in energy bills in October.

Elderly Britons are set to welcome a boost of around £1,000 to their state pension payments next year thanks to the return of the triple lock, however the cost of living crisis will still leave them significantly poorer.

However, the price cap for energy bills will rise by 80 per cent to £3,549 in October, and it is predicted to rise over £6,600 next year according to Cornwall Insight.

…click on the above link to read the rest of the article…

 

European power prices shatter records as energy crisis intensifies

August 30, 2022

Power prices in Europe continue to smash records, intensifying the region’s energy crisis and fanning fears about access to electricity and heating as the weather begins to cool.

Russia is one of the world’s top producers of oil and natural gas.
German power prices for next year, which are considered Europe’s benchmark, briefly jumped above €1,000 ($999.80) per megawatt hour on Monday before falling back to €840 ($839.69) per megawatt hour.

“This is not normal at all. It’s incredibly volatile,” said Fabian Rønningen, a senior analyst at Rystad Energy. “These prices are reaching levels now that we thought we would never see.”

Prices have jumped since Russia’s Gazprom announced that it would shut down the Nord Stream 1 gas pipeline for three days starting Wednesday to perform maintenance work, reigniting fears that Moscow could completely shut off gas to Europe, which is racing to stockpile supplies ahead of the winter.

When the crucial pipeline went offline for repairs for 10 days in July, many policymakers feared it wouldn’t come back. When Russia did restart operations, flows were significantly reduced.

France’s nuclear sector, which provides about 70% of the country’s electricity, is also struggling with lower output, pushing up the country’s energy prices.

The Czech Republic announced Monday that it would convene an emergency meeting of Europe’s energy ministers in Brussels next week as the region hunts for solutions.

Businesses are concerned they may have to periodically halt operations over the winter if power is in short supply, while households could struggle to pay soaring heating bills. The fallout could trigger a deep recession.

There was some reason for optimism on Monday. German Economy Minister Robert Habeck said the country’s gas inventories were filling up, and the country won’t have to pay the high prices currently commanded by the market.

…click on the above link to read the rest of the article…

What Will An EU Economic Collapse Look Like?

August 28, 2022

What Will An EU Economic Collapse Look Like?

European Natural Gas Prices Are 6 Times Higher Than Last Year, And This Is Sparking Widespread Civil Unrest All Over Europe

August 26, 2022

European Natural Gas Prices Are 6 Times Higher Than Last Year, And This Is Sparking Widespread Civil Unrest All Over Europe

This is going to be a bitterly cold winter for a whole lot of people.  In particular, things are likely to get really uncomfortable in Europe.  Soaring energy prices and concern about potential shortages are causing anxiety all over the continent, and widespread protests have already started to take place.  The cost of living has become extremely painful for those on the bottom of the economic food chain, and people want their governments to do something.  Of course this is what always happens when nations embrace socialism.  There is an expectation that those in charge will solve any and every problem, but this time around the limitations of the socialists running Europe will become very clear.

Thanks to the war in Ukraine and a number of other factors, the price of natural gas in Europe is now approximately six times higher than it was last year…

European natural gas prices are taking a breather amid further signs that soaring energy costs are crippling economic output, heaping pressure on politicians to resolve the crisis with winter just a few months away.

Benchmark futures retreated after settling at a record high on Monday. Prices are still about six times higher than they were at this time last year, with the panic spreading across nations ahead of peak winter demand.

Needless to say, many in Europe are being completely stunned by the size of their energy bills, and a massive backlash has been brewing.

In fact, we are already starting to see very large protests in a number of different countries…

…click on the above link to read the rest of the article…

Geopolitics: the world is splitting into two

August 22, 2022

Geopolitics: the world is splitting into two

While we are being distracted by Ukraine, President Putin has advanced his geopolitical goals materially. Aided and abetted by President Xi, Putin is taking the Asian continent into his control. That mission is well on its way to being achieved. He now awaits the winter months to finally force the EU to reject America’s hegemony. Only then, will the western end of the Eurasian continent be truly free of American interference.

This article explains how he is achieving his strategic goals. It examines the geopolitics of the Asian landmass and the nations tied to it, which are commercially and financially turning their backs on the US-led western alliance.

I look at geopolitics from President Putin of Russia’s viewpoint, since he is the only national leader who seems to have a clear grasp of his long-term objectives. His active strategy conforms closely with Halford Mackinder’s predictive analysis of nearly 120 years ago. Mackinder is regarded by many experts as the founder of geopolitics.

Putin is determined to remove the American threat to his Western borders by squeezing the EU to that end. But he is also building political relationships based on control of global fossil-fuel supplies — a pathway opened for him by American and European obsessions over climate change. In partnership with China, the consolidation of his power over the Eurasian landmass has progressed rapidly in recent weeks.

For the Western Alliance, financially and economically his timing is particularly awkward, coinciding with the end of a 40-year period of declining interest rates, rising consumer price inflation, and a deepening recession driven by contracting bank credit. 

It is the continuation of a financial war by other means, and it looks like Putin has an unbeatable hand. He is on course to push our fragile fiat currency based financial system over the edge.

…click on the above link to read the rest of the article…

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