I believe as far back as the Nixon administration someone asked the question what happened if Europe went on a gold standard (the only group of economies which could rival the US at the time) - it could threaten the fiat dollars hegemony. Kissinger scoffed with contempt and said we'll destroy them if they try any such thing. Well I remember someone asking the question around 2014 when it became clear that the gold backed dinar is probably what lead to Gaddafis death and then someone asked the question what are you going to do if Russia or China does the same thing? You can't destroy them without killing a billion people.
The dollar hegemony is destroyed but the US has secured Europe as a permanent vassal now they can't use Russian energy. It renders Europe economically ruined and dependent on US LNG imports they can't really afford.
I'm in the UK - we depend significantly on natural gas for our electricity and heating although we have a more diversified supply from our own gas fields and Norway but we also import some LNG. We've seen sky rocketing energy prices. Someone I work with is seeing his dual fuel monthly bill go from £80 to at least £265. Fuel prices here have averaged around £1.20 a litre for petrol and £1.30 for diesel are now around £1.60 for petrol and £1.75 for diesel. I simply don't know what is going to happen. An awful lot of working people simply can't afford their energy bills anymore and we are more insulated from this than the continent is.
Energy is traded on a global market. The fallout from this will be the death of the western economies. It cannot be sustained.
I believe as far back as the Nixon administration someone asked the question what happened if Europe went on a gold standard (the only group of economies which could rival the US at the time) - it could threaten the fiat dollars hegemony. Kissinger scoffed with contempt and said we'll destroy them if they try any such thing. Well I remember someone asking the question around 2014 when it became clear that the gold backed dinar is probably what lead to Gaddafis death and then someone asked the question what are you going to do if Russia or China does the same thing? You can't destroy them without killing a billion people.
The dollar hegemony is destroyed but the US has secured Europe as a permanent vassal now they can't use Russian energy. It renders Europe economically ruined and dependent on US LNG imports they can't really afford.
Good fuck Germany.
I'm in the UK - we depend significantly on natural gas for our electricity and heating although we have a more diversified supply from our own gas fields and Norway but we also import some LNG. We've seen sky rocketing energy prices. Someone I work with is seeing his dual fuel monthly bill go from £80 to at least £265. Fuel prices here have averaged around £1.20 a litre for petrol and £1.30 for diesel are now around £1.60 for petrol and £1.75 for diesel. I simply don't know what is going to happen. An awful lot of working people simply can't afford their energy bills anymore and we are more insulated from this than the continent is.
Energy is traded on a global market. The fallout from this will be the death of the western economies. It cannot be sustained.