Great commentary regarding inflation. We in the US are momentarily taking note of oil price declines with some projecting further declines just prior to the election. Not clear if that is possible with the Sauds reducing production. The EU has handicapped itself with Russia, but long term likely a wise move to diversify supply. As you note energy underlies the economy worldwide and because of a group of fools who buy into the climate change nonsense, investment has stalled. If anything, investment in alternatives, particularly nuclear is way overdue. Without subsidy only solar homes stands a chance of a useful trend, but the Chinese controls need to be reworked globally. So very odd that factories in the third world have not arrived to improve their circumstances but offer an alternative to China.
But the truth is that without innovation coming out of western cultures, trying to reduce dependence of fossil fuels is limited. Where are those flow batteries to eliminate the waste of Li-ion on utility scale storage? Utility scale solar might work in the US, but the denser EU/UK might never become practical.
At any rate we all are going to see a rough winter as the world marches into recession. I suspect a growing number of people will be hurt and upset. Hopefully they will direct their anger at our leaders who uniformly seem incompetent.
Yes indeed HH, the winter is looking bleak, here in UK at least. And I doubt the dumbed down 80% Brits will blame anyone so long as they have their bread and circuses.
The mob just don't think critically, but merely salivate over celebrity idiots that spout mindless clichés on the Boob Box every night and then switch to their favourite football game before dozing off on a few beers. The world can do without them; so I do have a certain degree of sympathy for the ruling elites who are admittedly selfishly looking out for themselves for survival (have you noticed the amount of insider selling recently). But when the mob are hungry and cold nasty things happen and history dictates that lampposts become icons of the resistance.
I do believe that the British Royals, their elite and their Establishment actually actually heavily influence American policy. If you have a spare hour, this may open your eyes:
This is correct Bert IMHO. It goes back 400 years or so to the Venetian Bankers who held gold as collateral and gave out slips confirming the customer's ownership which were then traded amongst mercantilists for value acting as money without the risk of dealing in actual bullion.
The (mainly Jews) discovered that they could issue slips for gold that they didn't actually have in their vaults, and fractional reserve banking was born.
The 'bankers' or 'money lenders' sat on benches (French = 'banc') in the main square in Venice from where they did business. Sometimes they became insolvent if/when their customers failed to repay the loans (the paper slips without collateral) and then their bench was broken up (French = 'rompre'). This became corrupted in old English as 'bankrupt'
I cover this in my book, Chapter 1 - Money - page 33:
Enjoy the journey Bert - I've been at it for 30+ years and I continue to turn up surprises. In the Introduction to Part 1 of my book I liken it to a jigsaw, rather than a rabbit hole, where 10 jigsaws are mixed together and the task is to complete them all without the picture guides - Umm... a daunting operation!
Feel free to ask me any questions - we have a fast-moving global target today, and as my dad said: "You always know you are over the target because the flak is black as night"
Great commentary regarding inflation. We in the US are momentarily taking note of oil price declines with some projecting further declines just prior to the election. Not clear if that is possible with the Sauds reducing production. The EU has handicapped itself with Russia, but long term likely a wise move to diversify supply. As you note energy underlies the economy worldwide and because of a group of fools who buy into the climate change nonsense, investment has stalled. If anything, investment in alternatives, particularly nuclear is way overdue. Without subsidy only solar homes stands a chance of a useful trend, but the Chinese controls need to be reworked globally. So very odd that factories in the third world have not arrived to improve their circumstances but offer an alternative to China.
But the truth is that without innovation coming out of western cultures, trying to reduce dependence of fossil fuels is limited. Where are those flow batteries to eliminate the waste of Li-ion on utility scale storage? Utility scale solar might work in the US, but the denser EU/UK might never become practical.
At any rate we all are going to see a rough winter as the world marches into recession. I suspect a growing number of people will be hurt and upset. Hopefully they will direct their anger at our leaders who uniformly seem incompetent.
Yes indeed HH, the winter is looking bleak, here in UK at least. And I doubt the dumbed down 80% Brits will blame anyone so long as they have their bread and circuses.
The mob just don't think critically, but merely salivate over celebrity idiots that spout mindless clichés on the Boob Box every night and then switch to their favourite football game before dozing off on a few beers. The world can do without them; so I do have a certain degree of sympathy for the ruling elites who are admittedly selfishly looking out for themselves for survival (have you noticed the amount of insider selling recently). But when the mob are hungry and cold nasty things happen and history dictates that lampposts become icons of the resistance.
The future is local: https://austrianpeter.substack.com/p/the-financial-jigsaw-part-2-localisation?s=w
Many thanks for your support and interest HH.
.....and I thought we had it bad here in the states. Great article.
I do believe that the British Royals, their elite and their Establishment actually actually heavily influence American policy. If you have a spare hour, this may open your eyes:
https://www.youtube.com/watch?v=np_ylvc8Zj8
There is one site on Word Press that takes a deep dive into this connection also.
It seems the entire monetary system is centralized in London in one way or another.
This is correct Bert IMHO. It goes back 400 years or so to the Venetian Bankers who held gold as collateral and gave out slips confirming the customer's ownership which were then traded amongst mercantilists for value acting as money without the risk of dealing in actual bullion.
The (mainly Jews) discovered that they could issue slips for gold that they didn't actually have in their vaults, and fractional reserve banking was born.
The 'bankers' or 'money lenders' sat on benches (French = 'banc') in the main square in Venice from where they did business. Sometimes they became insolvent if/when their customers failed to repay the loans (the paper slips without collateral) and then their bench was broken up (French = 'rompre'). This became corrupted in old English as 'bankrupt'
I cover this in my book, Chapter 1 - Money - page 33:
https://www.researchgate.net/publication/358117070_THE_FINANCIAL_JIGSAW_-_PART_1_-_4th_Edition_2020
You can find more about all this and additional weekly financial postings on Tuesdays (which I don't post to Substack) at my archive:
https://www.theburningplatform.com/author/austrian-peter/
Thank you for the references, I will check them out. Time for a new rabbit hole to explore.
Enjoy the journey Bert - I've been at it for 30+ years and I continue to turn up surprises. In the Introduction to Part 1 of my book I liken it to a jigsaw, rather than a rabbit hole, where 10 jigsaws are mixed together and the task is to complete them all without the picture guides - Umm... a daunting operation!
Feel free to ask me any questions - we have a fast-moving global target today, and as my dad said: "You always know you are over the target because the flak is black as night"