My dear impertinents, dear impertinents,
“Rising gas prices and interventions by various governments to support energy companies could trigger an unprecedented crisis in the European energy sector, similar to what happened with Lehman Brothers in 2008.
Finnish Finance Minister Mika Lintila and German Economics Minister Robert Habeck gave bleak forecasts for European industry, after the two countries gave tens of billions of euros in aid to energy companies in their respective countries.
Indeed, more and more European states are rushing to the rescue by offering financing through guarantees or credit lines to avoid the failure of energy players who are forced to buy gas and ‘other energy goods at unsustainable prices’. This is what this Reuters dispatch reported by the site says Invest here
Electricity bills are unpayable for all economic players, whether households or businesses of course.
For financial analysts, the risk is at the level of energy derivatives, and moreover the European Commission is seriously considering suspending them.
It would do well to hurry before all this explodes in our face and destabilizes the entire financial and therefore banking sector.
“A danger, that of margin calls, which, according to Norwegian Equinor, amounts to 1,500 billion dollars in European energy trading, and which will require “strong liquidity support”, as the said Helge Haugane, Equinor’s senior vice president for gas and power, in an interview.
While we are crumbling under the problems to be solved, Russia, it collects 158 billion euros from the sale of its gas.
Brilliant result of the sanctions against Russia or the story of the watered sprinkler.
I’m not telling you that in Russia everything is fine, but the Russians will be warm this winter even if their country is cold, instead of driving in Renault cars, they are now driving in Chinese cars which arrive in trainloads. Instead of having Apple phones that come from China, they have the Chinese copies. It may be a little worse, but as Macron would say, you have to know how to pay the price of war, right?
Nobody really dares to tell you this, but at the moment the cost of the war against Russia is financially greater for Western Europe than for Russia itself.
It won’t be fun, and they’ll find a few idiots to call me “pro-Russian”, great good for them.
The reality is that we are the turkeys of the joke and if we really wanted to win this war, we would have to do it differently, because we are not winning. We are weakening economically, monetarily.
I tell you otherwise. We are losing the war economically, and militarily we will never retake Crimea except at the cost of a nuclear World War III that no one wants.
So let’s stop the nonsense and martial chin movements.
The new British Prime Minister Truss has just decreed the freezing of English energy bills before ending up in the Thames which will cost the country’s finances 130 billion pounds sterling.
I still laugh about it.
130 billion is a little as if the State paid 130 billion euros in France while the total budget of our country is 380 billion euros per year!
Did you like the whatever it costs Covid?
You will have the same on energy, because there is no choice.
At European level, this will cost us at least 2 to 3,000 billion euros for all countries and derivatives and to save the financial system and prevent it from blowing up in our face.
We are led by dummies, who will only be able to oblige us and force us to suffer shortages.
Think about your stocks of commodities that are inexpensive and energy intensive. This is for example the case of toilet paper (we are heading towards a new PQ war, so it will quickly be shit), and all products sold in glass jars for example.
It is already too late, but all is not lost.
Prepare yourselves !
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