The exorbitant energy costs (thanks, Greens) in Europe will absolutely trash their economy if it gets prolonged enough. The individual EU countries do not have autonomy over issuance of their currency, the ECB does. 'Club Med' member countries don't have the tourism coin rolling in as it used to, and their economies were in tatters already before Covid. And now they have 2 million++ refugees from Ukraine to feed and house. Not to mention the EU is a protective customs union, they're geared for protecting the French farmers. I don't think there's an FTA in place between EU and Australia for all of Oz produce. Europe doesn't even have stockpiles of grain, as those were liquidated for currency. I appreciate you're well insulated and thoroughly protected from these concerns, but some of us have family and friends in Europe, and I for one am worried all this is not looking good for the old continent.
Germany better get cracking on buildings its first LNG terminal, restarting the coal/nuke power stations and delaying any more closures
I dont know what scrap price is but i wouldnt melt them. They are worth more as coins and easy to identify. Im just a coin nerd and wanted a box to sock away haha.
I'm not so sure about that. Germany during the Weimar was reeling from the fallout of a war, that's one of two ingredients usually required to bake the hyper inflationary cake. Zimbabwe same. Of course you could just go full retard politically like Turkey and Argentina but the EU is no Chavez or Erdogan despite all of the shortcomings of that bureaucracy. Definitely got issues in Europe, but the spectre of hyperinflation is not one of them. I have family and friends in Germany.
ok.... my point by example. Germany was mentioned. Pre-Weimar Germany? Weimar Germany or Nazi Germany? Hyper-inflation in Germany was pre-1933. Post 1933, it wasn't "trashed" and it wasn't printing money heavily any more. In fact, in was from about that time that the Nazi's introduced 2 and 5 Reichmark coins in silver (62.5% and 90% respectively). And 50 rpf in nickel. Interestingly, no gold coins. Far from being trashed, Germany at that time began to grow economically and with national social reforms (built on the back of national control, nationalism, racism and UGLYISM).... by far not an economically doomed nation. But socially and culturally, it was arguably in freefall. Not setting up silly arguments. Just trying to make a point in that I do not see this as a black and white issue ie "economic doom" vs capitalist paradise and nirvana. The economics overlaps social and political dimensions. In much the same way that one cannot separate political actions from military actions. Same onion. Different layers.
Well that tantrum didn't last long. Sucks if you were the idiot selling Ruble at 1USD to 150 RUB. You think people will know how to handle FUD better by now.
That graph could indicate Putin got away with murder, and that the market now believes West will cough up roubles for Russian gas&oil. If the West de-escalates, this is the North Korea scenario for Russia. Not good for Europe. https://twitter.com/kamilkazani/status/1508576670587895810
It certainly does, but I'm a believer in picking battles. The choice I've made is to try and engage people in economic discussions, predominantly because it interests me and is related to how political power is wielded around money and finance. I'm not one to get all caught up in the social/cultural wars out there because I really don't care any more how political power is wielded in those domains. I do actually care it's just not an easy game to play. Overall I view those spheres as predominantly evolutionary and change over time ie they mostly concern themselves with notions of morality and are incredibly value-laden and whilst there are acknowledged truths in morality economics has a certain degree of cold hard facts to it. Give me a discussion on the overnight cash rate any day in preference to same sex marriage or climate change.
I think the ex-Soviet republics are simply going to pee on the sanctions and will continue direct trade with za Rashanz. African countries are prolly more in a constraint, they can't risk ruining their relations with dictating Europe. The news reports say Egypt is already experiencing major food issues (scarce flour, bread price is going up, becoming scarce etc.). What the west doesn't realize is that with the sanctions they are making the rest of the world pay for the Russians' stupid war. We are being punished, because the sanctions are backfiring. This is so stupid. This is a great way to destroy the world's economy. But I am also sure that a 3rd category of countries (with plenty of cereals, gas, oil) are actually rejoicing. I think among the countries that will gain from this (because what the Russians are missing out on, they are going to cash in): Vietnam, Thailand, Poland, Brazil, USA, Mexico, Argentina, Turkey, Bulgaria, Italy, France, Hungary, Portugal - for FOOD Turkey, Azerbaijan, Iraq, Saudi Arabia, Iran, Brazil, Malaysia, Qatar, Norway, Venezuela, USA, Canada, Indonesia - for OIL and some even for GAS Brazil, Australia, Canada, South Africa, Botswana, China, Afghanistan, India, Pakistan, Peru, Chile, Argentina, Mexico, Poland, Norway - for METALS (gold, silver and a wide array of industrial metals) and MINERALS REDISTRIBUTION of wealth. REDIRECTION of supply chains and REDESIGN of transportation lines. I think many will actually gain from this. But perhaps even they don't see it yet. More will buy oil and gas from Qatar, Brazil, Venezuela, Malaysia than ever before... More will buy gas from Norway, Germany, Greece, Turkey, Azerbaijan, Israel then ever before... The demand for cereals will increase and so will the prices, so more will be sold by India, China, Brazil, USA, Poland, Hungary, Bulgaria, Greece, Turkey, France...
USD have lost a lot of credibilty but it is not credibility that will weaken the USD Reserve currency status but real life trade FX relationships It is natural for countries to start trading bilateral FX swaps for direct trade at the two way trade start to cross China trade direct with Yuan- Won Korea for trade China trade direct with Yuan - SAR Saudi Arabian for trade Much like EU trade with Saudi/UAE/SK/Japan with direct FX swaps by passing USD End of the day China is not going to get into a two way bilateral trade with Solomon Islands with 87% one way traffic but many countries will consider silly to pay FX fees when the trade is near parity
Brandon knows exactly what hes doing with those sanctions, dont be fooled. Children and old people might die yes, but its a small price to pay and we can all afford to pay just a little bit more to win the war. If you guys would just get behind the narrative it would be alot easier haha. They only want the best for you. Theres no conspiracy here promise.
Germany will be ok, but they need to learn to be less misery. Don't be penny wise, and pound foolish. Cheap gas from hell comes with a price. Morality is important. Don't make the same mistake as in the 1930s.
I'm not referring to the American stock market over here. I've already said what I wanted to say more than a month ago, nothing has changed, and my stance remains.
Would you buy gold now or crypto or some fiat currency (e.g. RMB, CHF, GBP, AUD, JPY...)? As a hedge against the current events. (besides food, batteries, water, fuel... yeah, I know)
After reading through the last three pages of discussion I agree the world is rather screwed up in many ways today. Really makes more people want to bug out or even drop out of society. This tune is more appropriate today than the 80s.
ZNC is one of my holdings, they are planning on spinning off their base and precious metals assets into a new company (ies). I like corporate airdrops.
ZNC missed it... But I am tracking twenty plus ESG stocks already, so I have mentally blocked out any more names. But just had a browse of recent announcements, very professional drill annoucement, they def have a decent geologist. Its been added to my track list with RTR
