Economics is one of the main tools and/or excuses to foment war, something that the debt-based economic system makes relatively easy. Sometimes, it is one party doing something to another. At other times, one simply wants to distract the population; that is, shift their attention from internal problems to an external adversary, or away from one problem to another. Obviously, it’s less artificial if the problem actually involves resources rather than just numbers on the screen.
China’s Evergrande has been on the news recently. Zero Hedge has a decent article covering some of the specifics. In short, it looks like the usual “entity owes a lot of money” possibly followed by some sort of collapse. It remains to be seen how the Chinese government will deal with this. At minimum, it’s for the usual economic control. Or will there be more? They have been stepping up in sending their planes into Taiwanese ADIZ.
Whilst that is going on, there is also the issue of Russian natural gas supply into Europe. Anyone can see the strategic stupidity of European dependency on Russian gas but, of course, the game is always rigged. In that sense, it’s arguably business as usual and “winter is coming”. If storage levels drop and prices go up or even if Russia shuts the valve for whatever reason (it is their gas), then things can get ugly fast.
Below are merely a few examples, Russia does supply other countries. At a glance, things aren’t looking great for Germany and Austria whereas the others aren’t looking too bad, at least for now.
Germany is currently 64.69% full, approximately 68% of the level at this time last year.
Austria is currently 50.63% full, approximately 56% of the level at this time last year.
Poland is currently 96.23% full. This is not surprising as Poland has expressed its intention to not rely on Russian gas.
Italy is currently at 84.56% full, approximately 87% of the level at this time last year.
France is currently at 89.87% full, comparable to the level at this time last year.
Czech Republic is currently 81.52%, approximately 82% of the level at this time last year.
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