Germany and Austria starts planning for potential oil and gas rationing if Russia stand's firm on payment in Ruble. Likely won't happen as both Germany, Austria and the rest of EU will cave and start paying for Russian oil/gas in rubles if they have to ration. Not many in tHe west will stand up for cause if it means walking to shops or not being allowed turn on AC or Heating
Perhaps it will never happen Because people will keep spending and saving all the time, running the wheels of economy: crypto, gold, food... "preps", masks... keeps the velocity of money spinning and the economies growing (no, I'm just joking) It was always at the corner, "it's coming", "it's going to happen tomorrow"... But if you live in Turkey, Venezuela, Lebanon or Russia... then the collapse happened YESTERDAY and it's already too late to prepare
Although the FT article I posted on that yesterday paints a defiant stance, Europe is in a world of hurt with this one. It's not only consumers but Germany's industry impacted as well - and subsequently EU as a whole. And if they cave in with gas/oil, what stops Russia from demanding roubles for everything else? "If you want gas, find roubles," Volodin said in a post on Telegram. "Moreover, it would be right - where it is beneficial for our country - to widen the list of export products priced in roubles to include: fertiliser, grain, food oil, oil, coal, metals, timber etc." https://www.reuters.com/business/fi...grain-or-metals-top-lawmaker-says-2022-03-30/ The Greens and Gretards wrecked Europe with their idiotic energy policies - completely detached from realities.
The entire EU keeps pumping: "use less gas", "we don't need so much heating" etc. In many EU countries, gas already costs 2-3x (yes, 300% of the price just a few weeks ago). And natural gas is being used in so many industries... everything will become far more expensive. These are REAL evens happening right now. Freak out, it's going to get a lot worse before it gets better.
Savings don't drive the wheels of the economy, credit does. Savings comes at an opportunity cost nowadays. Wealthy people take on debt, poor people save. Velocity of money is a zombie concept. https://fedguy.com/zombie-concepts-velocity-of-money/
Hmm you are underplaying a bit, spot price for British Gas on a great day is about 6x 2019 (precovid) prices to a bad day 15x ie precovid is was averaging 30 to 50 pounds.. now it up and down 250 pounds to 600 pounds
Weve been working in Cortez CO this week and theres alot of homeless here. Our asphalt machines need plugged in at the hotel overnight so theyve stolen our extension cords haha. Last summer we lost gas cans and one guy lost all his tools in the city. This morning i went down to the front desk at 6 am for coffee and the front desk lady was busy kicking bums out of the breakfast area. She said the outside doors unlock at 6 and they come in hoards. Cities are turning worse into shit holes and as i guy that lives far away and visits rarely its very noticeable. My wife went to town to get some things and i asked her to buy a box of nickels at the bank for me. She texted later and said they can only sell $20 of nickels per customer now wtf. I think they are about to pull all the current nickels.
And it's been slowly boiling ever since..... Back in 2003, the US were bringing in digital fingerprinting to enter their country and pressuring Australia to do the same. Now it's the norm. The frog keeps adapting/surviving the water as it's heating. Maybe it's so slow that the frog is evolving to cope? Irrespective, the water is being made increasingly warmer, what-ever the reason or motivation.
@lucky luke I'm interested more in the economic situation because in my view that has a greater impact in our lives. Pundits have been making calls of economic doom long before i joined this forum and they continue to be proven wrong.
I get that being 'glass-half-full' is the better strategy in life, I truly do. But surely there were people in say, Weimar Republic who were talking about collapse to deaf ears and ridicule, too? The Raven of Zurich comes to mind. At the end of the day, he was right - and saved his family by making the right choices at the right time. https://www.docdroid.net/wqlhhGn/the-raven-of-zurich-the-memoirs-of-felix-somary-compressed-pdf
Melt value and minting cost getting too high id guess. They are almost worth 10 cents now and Ebay has lots for sale for a few x face value.
Germany was a trashed economy that couldn't meet the needs of its people so it borrowed heavily and printed money. None of the rich Western nations that have autonomy over the issuance of currency have trashed economies, if they're doing poorly it's because their governments choose policies that have those unintended consequences. Australia for example produces enough food to feed around 80 million people annually, we could easily meet all the domestic demand for food, yet we have shelves empty as a result of supply constraint issues due to Covid and flooding, poor economic management and an obsession with austerity and budget surpluses. Edit to add: I'm not going to tell farmers or manufacturers what they should be doing with their property, but an export market should be for goods surplus to the needs of the domestic market. Edit to add: Is that telling farmers what they should be doing with their property?
I don't have enough time, skill or interest to devote to more than one doom. I'll stick to economics.
How much do you get for scrap cupronickel in US? I presume no one pays spot for mixed copper and nickel metal content, unless selling privately to numpties on facebook or ebay If one had ton of nickel coins to sell to metal dealer, won't be an easy job melting it, than the question will be from the buyer is this 25/75
