Why raising interest rates to reduce inflation may work out very badly

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Are we headed for very high energy prices? Or, are we headed for a financial system that starts falling apart? The whole economic system may change remarkably. For example, what many people thought was money, or a promised pension plan, may not really be there when the time comes to get value from it. Shelves in stores may be empty when it comes time to make a purchase.

Most people do not understand that the world economy is a physics-based system, powered by energy. If the energy is suddenly much less available, there will be a huge problem. The world economy has been powered by a rapidly growing supply of energy for over 200 years.

Figure 1. World energy consumption by fuel based on Vaclav Smil’s estimates from Energy Transitions: History, Requirements and Prospects (Appendix) together with data from BP’s 2011 Statistical Review of World Energy for 1965 and subsequent. Wind and solar are included in Biofuels.

My concern is that the current attempt to bring inflation down will lead to falling energy supply and a world economy that is rapidly changing for the worse.

Figure 2. Energy amounts for 2010 and prior equal to those in Figure 1, with a corresponding amount for 2020. Future energy for 2030, 2040 and 2050 are rough estimates based on the observation that the world is now reaching extraction limits for both coal and oil.

Everything I can see says that world leaders are not able to face the possibility that the world is already running seriously short of oil and coal. Future supplies are likely to be much lower, and much more expensive, if they are available at all. Other energy types (including natural gas, nuclear, hydroelectric, wind and solar) are simply add-ons to a system built using coal and oil.

Current world leaders do not realize that the energy situation is very much like the water level in Lake Mead. Looking at it from the top, there still seems to be water there but, in fact, the required depth is lacking. Water for watering crops will soon be exhausted. The world’s energy supply is not a whole lot different. The supposedly proven reserves do not tell us anything at all. It is the amount of fossil fuels that can be affordably extracted that is important. We have already exceeded the amount that can be affordably extracted. If central banks cut back future energy supplies using higher interest rates, we can expect to encounter major problems going forward.

In this post, I will try to explain some of the issues involved.

[1] The amount of energy the economy requires depends very much on population. The greater the world population, the more oil is needed for food production and transportation. Non-oil energy is a bit more flexible in quantity than oil, but the total quantity of energy per capita needs to keep rising to prevent very adverse outcomes.

Figure 3. World per capita energy consumption by source, with the 1950-1980 period of rapid growth highlighted. Amounts are equal to those used in Figure 1, divided by population estimates by Angus Maddison.

Figure 3 highlights the fact that the period of Rapid Energy Growth between 1950 and 1980 was a period of unprecedented growth in per capita energy consumption. This was a period when many families could afford their own car for the first time. There were enough employment opportunities that, quite often, both spouses could hold down paying jobs outside the home. It was the growing supply of inexpensive fossil fuels that made these jobs available.

If a person looks closely, it is possible to see that the 1920 to 1940 period was a period of very low growth in energy consumption, relative to population. This was also the period of the Great Depression and the period leading up to World War II. Sluggish energy consumption growth at that time was linked to very undesirable socioeconomic outcomes.

Energy is like food for the economy. If energy of the right kinds is cheaply available, it is possible to build new roads, pipelines and electricity transmission lines. World trade grows. If available energy is inadequate, major wars tend to break out and standards of living are likely to fall. We now seem to be approaching a time of too little energy, relative to population.

[2] Recently published data through 2021 indicates that energy consumption growth is not keeping up with population growth, similar to the situation of the 1930s. This says that the economy is doing poorly. Supply lines are broken; most jobs don’t pay well; many goods that normally would be available aren’t available.

Figure 4. World energy consumption per capita, based on information published in BP’s 2022 Statistical Review of World Energy.

Figure 4 shows that the year with the highest per capita energy consumption was 2018. This agrees with other information such as automobile sales.

Figure 5. Auto sales by country, based on data of vda.de

For example, the number of automobiles sold seems to have peaked back in the 2018 period. China and India are both reporting fewer automobile sales recently. The economy was already sliding into recession in 2019. The 2020 shutdowns hid the very poor condition the world economy was already in. If people were forced to remain in their homes, they could not take to the streets to protest their poor wages and pension plans. The shutdowns helped give the impression the world economy was doing better than it really was.

Figure 4 shows that even with the bounce back in 2021, total energy consumption per capita is still below the 2018 and 2019 values. This contrasts with the situation that occurred after the 2008-2009 Great Recession. By 2010, per capita energy consumption was back above the 2007 and 2008 values.

[3] We can look back and see how rising interest rates were used to slow the world economy in the 2004 to 2006 period, and how different the economic situation was then compared to now. Even with the rapid growth the economy was making at the time of the interest rates increases, the result was still a deep recession in 2008-2009.

Figure 6. Figure similar to Figure 4 showing world energy consumption per capita, except that notation has been added with respect to the timing of increases in US Federal Reserve Target Interest Rates.

It is clear from Figure 4 and Figure 6 that between 2001 and 2007, the quantity of energy consumed per capita was rising rapidly. This was the period shortly after China was added to the World Trade Organization. Manufacturing was rapidly being moved to China. China’s demand for energy products of all kinds was rising rapidly. As a result of this greater demand, oil prices were increasing between 2001 and 2007. To try to reduce inflation, the Federal Reserve raised target interest rates in the 2004 to 2006 period and gradually brought them down, starting in late 2007.

There are two things that are striking about this earlier situation:

  1. The world economy (as shown by rising energy supply) was growing much more rapidly during the 2001 to 2007 period than it is in 2022. All the world economy is trying to do now is get back to where it was before the 2020 shutdowns, in terms of energy consumption per capita.
  2. Eventually, there was a bad reaction to the higher interest rates of 2004 to 2006, but this did not come until 2008-2009. This was a much longer lag than most people would expect.

Now, in 2022, we cannot get energy consumption per capita up to the 2018 and 2019 levels. There are many unfinished automobiles, waiting for missing parts. Appliances of many kinds are not available without a long wait. Fertilizer is often not available. Broken supply lines leave many store shelves empty. It is not that demand is unusually high; it is the supply of the energy products we need to grow food and to transport many finished goods that is not available.

Raising interest rates is a way to reduce the demand for finished goods and services, such as automobiles and appliances, if the world economy is growing very rapidly, as it was back in the 2001 to 2007 period. If the problem is an inadequate supply of finished goods and services (due to broken supply lines and low wages for workers), then raising interest rates is entirely the wrong medicine. It will cause even fewer automobiles and appliances to be made. It will cause many current workers to be laid off. Such an approach, when the world is trying to deal with too few workers, will tend to make the situation worse, rather than better.

[4] The trend in fossil fuel supplies is concerning. Both oil and coal are past peak, on a per capita basis. World coal supply has been lagging population growth since at least 2011. While natural gas production is rising, the price tends to be high and the cost of transport is very high.

Most energy charts are similar to Figure 7, showing energy consumption on a total product supplied basis, without reference to the size of the population using those resources.

Figure 7. Total quantity of oil, coal and natural gas supplied based on information published in BP’s 2022 Statistical Review of World Energy.

Figure 7 indicates that coal supplies are, in some sense, the most troubled of the three types of fossil fuels. In the 2001 to 2007 period, China was able to ramp up its manufacturing using coal, but eventually those supplies ran short. In fact, coal supplies around the world started running short. Instead of telling us about the shortfall in production, we started hearing a story that sounds a lot like The Fox and the Grapes of Aesop’s Fables: Coal is a horribly polluting fuel which we don’t really want anyhow.

To understand how these quantities correspond to the world’s rising population, it is helpful to look at consumption divided by population, shown in Figure 8.

Figure 8. Oil, coal and natural gas energy consumption per capita, based on data in BP’s 2022 Statistical Review of World Energy.

Figure 8 shows that oil consumption per capita was relatively stable up until 2019. Then, it suddenly dropped in 2020, and it has not been able to fully recover from that drop in 2021. In fact, we know that as oil production has tried to increase in 2022, its price has risen further. Of the years shown, 2004 was the year with the highest oil consumption per capita. That was back at the time that “conventional” oil production peaked.

Figure 8 shows that the peak production of coal, relative to world population, was in the year 2011. Now, in 2022, the least expensive coal to extract has been depleted. World coal consumption has fallen far behind population growth. The big drop-off in coal availability means that countries are increasingly looking to natural gas as a flexible source of electricity generation. But natural gas has many other uses, including its use in making fertilizer and as a feedstock for many herbicides, pesticides, and insecticides. The result is that there is more demand for natural gas than can easily be supplied.

[5] Governments and academic institutions have gone out of their way to avoid telling the world how important energy of the right types and in the right quantities is to the economy.

Politicians cannot admit that the world economy cannot get along without the right quantities of energy that match the needs of today’s infrastructure. At most, a small amount of substitution is possible, if all the necessary transition steps are taken. Each transition step requires energy of various kinds. For example, a small amount of intermittent wind can be added to the fossil-fuel generated electricity supply, if care is taken to ramp up fossil-fuel generated electricity to offset the lack of wind when there is a shortfall in supply. Otherwise, battery or other storage is needed for the wind energy until the wind energy is truly needed by the system.

Thus, most people today are convinced that the economy doesn’t need energy. They believe that the world’s biggest problem is climate change. They tend to cheer when they hear that fossil fuel supplies are being shut down. Of course, without energy of the right kinds, jobs disappear. The total quantity of goods and services produced tends to fall very steeply. In this situation, there is likely not enough food for all the people in the world. War is likely to break out over limited resources.

[6] Once the economy starts heading downward, it is not clear that the economy can ever “catch itself” and start back on an upward path again, even for a short while.

Back in 2001, the World Economy was able to get a “bail out” from China’s rapid growth in coal production, but as we have seen, world coal production is no longer growing as fast as population.

Back in about 2010 and 2011, growth in US crude oil from shale formations was able to temporarily bail out world oil supply, but now this is also failing. Also, even the recent “growth” shown is to a significant extent from the completion of “drilled but uncompleted” wells started earlier. Eventually, there are no more “DUCs” to complete.

Figure 9. EIA chart showing US Field Production of Crude Oil through June 24, 2022.

In fact, despite all of the supposed high reserves of many kinds around the world, there is little evidence that the Middle East, or anywhere else, can actually raise production much higher.

Once the economy starts shrinking, debt defaults are likely to become a big problem. Banks will find their balance sheets impaired. They may be forced to close. Citizens with deposits may find that only part of their balance is available to spend.

Government programs will necessarily be forced to cut back to match the energy supplies that are available. For example, if road paving material is not available, roads cannot be repaved. If fuel cannot be found for school buses, students may need to learn at home.

Governments at all levels have promised pension plans. In fact, many employers have promised pension plans. Without a growing supply to cheap-to-produce energy, these promises are meaningless. Somehow, governments will find it necessary to cut back on their promises. Perhaps, Social Security and Medicare programs will be handed back to US States to fund, to the extent that the states have funds for these programs. Governments around the world can expect to face similar problems.

With less energy supply available, the whole world economy that we know today seems likely to start falling apart. Fewer goods will be available through international trade. It is cheap energy that has allowed today’s economy to function. Once this cheap energy is depleted, the world economy will need to shrink back in many ways, at once.

We don’t really know precisely what lies ahead, and perhaps, this lack of knowledge is for the best. We cannot even imagine a world economy changing rapidly for the worse.

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
This entry was posted in Energy policy, Financial Implications, News Related Post and tagged , . Bookmark the permalink.

3,945 Responses to Why raising interest rates to reduce inflation may work out very badly

  1. Fast Eddy says:

    Sri Lankan immigration officials said on Tuesday they prevented the president’s brother and former finance minister Basil Rajapaksa from flying out of the country, as anger rises against the powerful family for a debilitating economic crisis.

    https://www.msn.com/en-gb/news/world/sri-lanka-presidents-brother-stopped-from-flying-out-as-anger-surges/ar-AAZtBtk

    They will hold onto him… and then when the power goes down permanently … he’ll be nailed to a cross and parading through the streets…. then they will skin him alive… and feed him to stray dogs.

    Think this cannot happen to elites everywhere? Of course it can… when the power goes out the bodyguards will abandon them… and try to protect their families.

    Would you want to be skinned alive? Or would you opt for Global Suicide? https://www.headsupster.com/forumthread?shortId=220

  2. Fast Eddy says:

    ‘MSH3 Homology and Potential Recombination Link to SARS-CoV-2 Furin Cleavage Site” Ambati & Brufsky et al.; points to a likely deliberate manufacture of COVID virus with furin cleavage site insert

    A BLAST search revealed that a 19 nucleotide portion of the SARS.Cov2 genome encompassing the furin cleavage site is a 100% complementary match to a codon-optimized proprietary sequence…key!

    https://palexander.substack.com/p/msh3-homology-and-potential-recombination

    • MM says:

      Virology database searches are pretty close to circular reasoning.
      I am not sure if anybody is able to even figure out how close.

    • ivanislav says:

      It’s been obvious from the outset that this was man-made, either from the Wuhan lab or planted there to make it look like it came from there. What are the chances that a novel virus occurs in the only city in China with a Bio-Safety Level 4 lab? Quite slim. What are the odds that, by chance, the type of virus is the same as the primary one they study in their only BSL-4 lab? Again, slim. Multiply those odds and you’re very nearly at zero. Now add that the DNA sequence contains traces of genetic engineering and you end up with a near guarantee of it being man-made.

      This was so obvious I told a co-worker exactly that within the first few weeks of this virus coming out, before we even knew about the furin cleavage site, I think. He wasn’t convinced and thought it was a rattle-snake ate the wrong horse-shoe bat or maybe a pangolin hooked up with a bonobo before kissing a duck.

  3. Fast Eddy says:

    ‘The Silence of the Deans’: Medicals Schools Say Nothing as Working-Age People Die at Earth-Shattering Rates

    163 percent increase in life insurance claims.

    Dr. Pierre Kory: “To know that the Dean sitting atop of these major medical centers, with neurologists and cardiologists and obstetrician and gynecologists seeing strokes, infertility, heart attacks in people with no comorbidities at very young ages … There’s no way that the leaders of these health care institutions didn’t know. Not one spoke up.”

    Read More on Substack (https://thevigilantfox.substack.com/p/the-silence-of-the-deans-medicals) | Full Video (https://www.redvoicemedia.com/video/2022/07/the-guilty-are-now-hiding-a-humanitarian-catastrophe-dr-pierre-kory-video-interview/ref/8/)

    “Trudeau, You’re a Traitor!” – A Based Citizen Accosts Trudeau at Calgary Stampede

    Side note: Trudeau looks like a doofus in a cowboy hat.

    Source

    (https://rumble.com/v1bt5ib-someone-tells-trudeau-youre-a-traitor-during-an-appearance-at-the-calgary-s.html)Follow @VigilantFox 🦊
    Rumble (https://rumble.com/v1bvdrx-trudeau-youre-a-traitor-a-based-citizen-accosts-trudeau-at-calgary-stampede.html) | Substack (https://thevigilantfox.substack.com/) | Truth (https://truthsocial.com/@VigilantFox) | Gettr (https://gettr.com/user/vigilantfox)

    Up to 500,000 Dead from a Headache Pill: The Pharmaceutical Mafia and Merck’s Drug of Death

    Robert F. Kennedy, Jr: “Most people who took that drug, if they knew that it could kill them, would have said,’ You know what. I think I’ll take an aspirin.'”

    Read More on Substack (https://thevigilantfox.substack.com/p/up-to-500000-dead-from-a-headache?sd=pf) | Full Video (https://www.redvoicemedia.com/video/2022/07/the-clarity-of-corruption-with-robert-f-kennedy-jr-video-interview/ref/8/)

    hahahahahahahaha — If they off him that will be HUGELY entertaining!!

    Fearless Citizen Confronts Biden, Derails His Speech With Disturbing New Details of Hunter Leak

    “There’s a video of him arguing with a hooker about how much crack he has. What do you think about that, Mr. President?”

    Source

    (https://rumble.com/v1bwm3x-protester-confronts-biden-to-his-face-about-new-disturbing-hunter-leak.html)Follow @VigilantFox 🦊
    Rumble (https://rumble.com/v1bws7x-fearless-citizen-confronts-biden-derails-his-speech-with-disturbing-new-det.html) | Substack (https://thevigilantfox.substack.com/) | Truth (https://truthsocial.com/@VigilantFox) | Gettr (https://gettr.com/user/vigilantfox)

  4. Fast Eddy says:

    PR Team is pushing this message out globally … same stuff in HK earlier

    https://www.msn.com/en-au/news/australia/covid-australia-virus-experts-warn-centaurus-ba275-variant-could-take-over-from-omicron/ar-AAZsN85

    Hopefully this is The One. The Final Solution

  5. Fast Eddy says:

    WHAT KIND OF ADVERSE EVENTS ARE BEING REPORTED IN AUSTRALIA FOR KIDS AGED 5 TO 11?

    Not “sore arms”…that’s for sure

    https://github.com/AccAEN/AccessibleAdverseEventNotification/blob/main/data/DAEN_webscrape_ageselectedlist_5-11.txt

    • MM says:

      I hear that post birth abortion is a human right.

      • Fast Eddy says:

        Single 18 yr old mom… with 2 yr old… wants to go clubbing, smoke some crack with Hunter Biden in the shitter… and get invited back for a 3-up with Joe and Hunter…

        But can’t find a babysitter… my body my choice… smothers the child with a pillow … and chucks him into the gutter on the way out….

        The MOREONS chant ‘her body her choice’ nothing to see here… it’s of course all very subjective

  6. Fast Eddy says:

    Outstanding! And they keep on jabbing!!!

    winning?

    1024 collapse on the field
    780 of them died
    normal yearly deaths = 29
    JANUARY 2022:

    127 collapse on the field
    87 of them died
    https://twitter.com/i/status/1545830362529468417

  7. MG says:

    We are past the summer solstice in the Northern hemisphere and we are preparing for the darker days with less energy from the Sun.The plants are dying with the receding Sun and we are preparing for their burning during the winter.

    Summer solstice = victory of the humans over the plants
    Winter solstice = victory of the plants over the humans

    • davidinamonthorayearoradecade says:

      Europe better have lots of plants to burn.

    • Fast Eddy says:

      Is Mother preparing to say good riddance to us… the final summer?

      • davidinamonthorayearoradecade says:

        perhaps the next summer in NZ will have lots of Shrieking.

        the Centre of the Core should hold.

  8. davidinamonthorayearoradecade says:

    Euro = $1.0007

    sorta trivial, but tomorrow could see it under $1.00

    DXY the USD index is above 108

    hasn’t been that high in 20 years.

    I like numbers.

  9. Fast Eddy says:

    Wow – just speaking to a couple of people from Auckland – regular petrol has been touching 4 bucks a litre up there… and I though 330ish was bad.

  10. Karl says:

    “.There is no physical reason the oil industry can’t meet rising demand. The world has hundreds of years’ worth of oil deposits. There is no technical reason the oil industry can’t meet rising demand. It is more capable than ever thanks to amazing technologies like fracking.4
    If there is no physical or technical reason the oil industry can’t meet rising demand, what is inhibiting it?

    Decades of rising restrictions on oil production and transport from anti-oil politicians—including Biden’s massive threats to punish oil production going forward.

    Perhaps the greatest limiter of the supply of oil has been anti-oil politicians’ constant threats to severely restrict or even ban oil production going forward. E.g., when Joe Biden promises “I guarantee you, we’re going to end fossil fuel” and then becomes President, many oil investors run for the hills.5

    Is it any wonder that, threatened with punishment, investment in oil and gas has declined dramatically? Between 2011 and 2021, oil and gas exploration investments declined by 50%. Less investment = less supply = higher prices.6 ” -A. Epstein

    • Fast Eddy says:

      Shale binge has spoiled US reserves, top investor warns Financial Times.

      Preface. Conventional crude oil production may have already peaked in 2008 at 69.5 million barrels per day (mb/d) according to Europe’s International Energy Agency (IEA 2018 p45). The U.S. Energy Information Agency shows global peak crude oil production at a later date in 2018 at 82.9 mb/d (EIA 2020) because they included tight oil, oil sands, and deep-sea oil. Though it will take several years of lower oil production to be sure the peak occurred. Regardless, world production has been on a plateau since 2005.

      What’s saved the world from oil decline was unconventional tight “fracked” oil, which accounted for 63% of total U.S. crude oil production in 2019 and 83% of global oil growth from 2009 to 2019. So it’s a big deal if we’ve reached the peak of fracked oil, because that is also the peak of both conventional and unconventional oil and the decline of all oil in the future.

      Some key points from this Financial Times article: https://energyskeptic.com/2021/the-end-of-fracked-shale-oil/

      Shale boss says US has passed peak oil | Financial Times https://www.ft.com/content/320d09cb-8f51-4103-87d7-0dd164e1fd25

    • extracting oil isn’t the problem

      finding an economic use for it is the problem.

      oil only acquires value when it is used–ie sold as a component part of other products.

      If those ‘other products’ become unaffordable to the public at large, (as opposed to a wealthy minority) oil will be left in the ground.

      This will happen in response to the cost of extraction.

      If we expend too much cost-energy on the extraction process, then there will not be enough cost-energy left over to enjoy the actual usage of the oil itself.

      And the sting in the tail will be that that unaffordability will apply to rich and poor alike.

  11. Fast Eddy says:

    Casablanka
    1 hr ago
    ·
    edited 1 hr ago
    I’m a primary care physician. As medicine was entering a new phase of diversity and inclusion ignorance Covid came roaring down the anti-science highway. You’ve read about the complete mess that followed.

    I was extremely concerned with the rush to inject the human race with experimental pseudo-vaccines. I treated well over 100 Covid patients in my practice through the pandemic. While I had Covid in late 2020 I delayed being immunized as long as practically possible but the herd/shame mentality and medical board rules and hospital credentialing edicts meant if I wanted to work then I’d need to be immunized. Looking at it from all sides – I went ahead with the initial series of 2 jabs.

    Being over 60 and having natural immunity as a base gave me some justification. While I don’t believe the vaccines are necessarily harmful to the vast majority of people – and perhaps offer some benefit to those over 75 – the adverse-effect rate alone for the entire population is completely out of line. Even if a small percentage are severely affected they are massive numbers in the end for a vaccination. The jabs should never have been approved. In addition, the long-term issues have yet to play out.

    Still, I refused a booster.

    Meanwhile, my first grandson was born almost 5 months ago. Both my son and daughter-in-law are (woke) physicians. So no, I don’t get to see my grandson, they proclaimed, until I am “boosted.” They are anxiously awaiting the 5-month mark so junior can begin his likely never-ending series of shots. My advice not to give these jabs to any child is completely unheeded. And of course, I dealt with friends (many who are physicians) who said, well, we can’t get together with you because you’re not immunized – having it already doesn’t matter.

    If I even spoke to patients about not needing the vaccine – even if they had been infected prior – it could lead to serious problems. And yes, I did Rx Ivermectin. And had a vitamin/supplement protocol for patients. I read the data. Yes, it may not be the magic bullet but if Ivermectin was in any way harmful I would not prescribe it. First, do no harm (except, I guess, for new Big Pharma vaccines).

    I understand the initial public health response to the pandemic. And I don’t believe early attempts at dealing with it were always malicious or conspiratorial. People in health care sometimes see things differently and have blinders on – we must attempt save everyone from everything no matter the cost. The problem, however, became evident as the science evolved, as it always does, but the politics became rigid and power-driven, and as they say, when you mix science and politics you get politics.

    https://alexberenson.substack.com/p/the-price-of-fear/comments

  12. CTG says:

    Guys, I think it is almost certain that UEP is the target. It seems almost certain that the energy cupboard is bare. It seems almost certain that the leaders realize that reality is real, probably just around 2019? Probably Putin has to be the bad guy? (i.e.e “corpse waking up after camera was away). Piece seems to be falling in place that “oops… sorry… we have no more oil or gas”

    Carpe Diem

    • davidinamonthorayearoradecade says:

      I still think the CEP is a work of astounding brilliance.

      hahahahaha.

      Davos Men can’t do UEP.

      they, and their superiors, and their superiors all the way to the top, are ageing brain pharting innncompetent miseducated non systems thinking phools.

      the Periphery won’t disappear, but will degrade, and the Core will continue to shrink, all the while still raking in the majority of the global resources.

      oil supply is down 3% since the 2018 peak.

      it’s a statistic, you can look it up.

      but wait.

      contagion.

      yes, black swan economic contagion could bring an exponentially accelerating collapse of the Periphery and then swiftly overtake the Core.

      if the above 3% soon becomes 4% then 7% then…

      who knows?

      I think many of us will still be discussing these ideas in 2025.

      but why not to 2030?

      2030!

      that’s maddness!!

      carpe diem!!

      que sera sera.

      • CTG says:

        davidinamillionyears…. I see you in 2030…. I will buy you a drink… Everything is rosy

        • davidinamonthorayearoradecade says:

          my rose colored glasses broke.

          but this site needs a balance of anti-doom.

          I am Anti Doom Man.

          I laugh in the face of bad news.

          hahahahaha.

          • Fast Eddy says:

            In the interests of Fair and Balanced

            The vast majority of OFWers are members of an elite club of thinkers…

            Then there’s norm and mike … providing balance. If not for them OFW would redline with genius and we’d all lose our minds… fine line between genius and insanity so they say

            norm and mike temper that

            Big thank you to norm mike…

            • with almost any activity you care to name eddy, how good you are is defined by how good others say you are.

              This is especially true of one activity you obsess over and talk about constantly. (Either directly ot obliquely)

              But the more you talk, the less you do. Which must be a relief in certain quarters.

            • Fast Eddy says:

              Does anyone have any questions for norm? FE is standing by……

            • i don’t keep telling everyone how good i am, and obsessing about certain subjects,

              so i don’t have to prove anything eddy

              You’re the one wearing the emperors new clothes, knot me

    • Fast Eddy says:

      It’s the only theory that makes sense — if one is aware of the energy situation.

      All other theories (mass control – chipping – Great Reset – depopulation– etc…) rely on a continuation of BAU… and a assumed supply of cheap energy. Impossible. Therefore they need to all be dismissed.

      Of course proponents of those theories are unaware or reject the energy problem — therefore those theories make sense to them.

      Trying to convince them that energy is the fundamental problem — is no easier than trying to turn a CovIDIOT against the injections — it’s another flavour of mass psychosis — and as we know facts do not matter to cultists.

      We are being exterminated… the UEP may not nail the mechanism exactly — but there can be no other conclusion when we see babies being wrecked and murdered — the end game is extermination.

      Why would anyone be willing to do this to babies — unless they thought that it did not matter since we will all soon be dead. And that if they fail to get this into as many people as possible – including babies — their plan might fail.

      And heaven help us if it fails. We only have to look at the hordes in Sri Lanka — which is btw not totally collapsed — total collapse i when there is no electricity and no food.

      You watch what happens when country goes dark…. actually you won’t be able to watch — there will be no video coming out of that nightmare … you will have to imagine what 20M+ people are doing when there is zero food available.

      I always circle round to — does anyone thing every politician on the planet has suddenly embraced totalitarianism? That they have suddenly lost their moral compasses and are supporting the murder and maiming of babies?

      They fear something … they know what’s behind that curtain … and killing babies and injecting billions … has been pitched as a better option than going face to face with the beast.

    • Fast Eddy says:

      Perhaps they want to give the minions a glimpse of the beast in the form of Sri Lanka… to ensure that as we enter the final stages of UEP — that they do not waiver in their commitment.

      Consider that the minions are being asked to engage in policies that would make even Hitler recoil … random mass murder of completely innocent people – including children and babies… there is no way Hitler would approve of such a thing … nobody would …

      Unless there was a good reason.

      I suspect these minions are being shielded from the horror stories… how could they not have horrible nightmares and feel extreme anguish — if they were to read these terrifying accounts of injuries and deaths…

      There surely is a team of psychologists working with them on a regular basis … probably feeding them drugs to dampen their remorse…

      End of the day what keeps them going has to be the beast behind that curtain …

      It’s not much different than that pharmacist on the phone call being called a murdering bitch .. and not getting at all upset… she does not know what’s behind the curtain … but she sincerely believes in what she is doing — she is saving us from something far worse — if a kid gets wrecked that’s too back — it’s the price we pay…. I suspect there are some who are administering the jabs who are feeling deep guilt as well… most are not but surely some have their moments.

  13. HappyMotorist says:

    [Translated from Greek]Energy Armageddon: S. Arabia has begun record imports of Russian oil – Stocks are running out!- Macron to Biden: “I have bad news” (vid) S.Arabia also reduced the delivery of crude oil to Chinese refineries! 10/07/2022 – 02:24 185 SHARES By Vassilis Kapoulas In the shock revelation that Saudi Arabia’s strategic oil reserves are running out, and the “source” is drying up, international analysts proceed, noting that the Kingdom now imports large quantities of Russian oil with Egypt as an intermediate country.

    https://warnews247.gr/energeiakos-armagedonas-i-saoudiki-aravia-xekinise-eisagoges-rekor-rosikou-petrelaiou-telos-ta-apothemata-makron-se-bainten-sou-echo-aschima-nea-vid/

    share

    • ivanislav says:

      An alternative possibility is that Saudi Arabia is the right place to wash the oil to get around sanctions. The oil price is higher than what buyers will buy Russian oil for, so they can make money on the spread. As a large oil supplier, they can mask the original source.

      • CTG says:

        Just think of the additional energy losses by transiting the crude this way. When you have not enough energy, it is not wise at all to waste it unnecessarily. However, hairless primates will be hairless primates…

      • Fast Eddy says:

        Ya don’t think the CIA would work this out…. there are no sanctions .. that is a fable fed to the hordes to explain why they are having to choose between eating and filling up their tank…

        Let’s apply logic — what exactly has Putin done to deserve the sanctions — and why would any country risk total collapse by rejecting the substance they require to survive?

        It makes no sense … not sense at all.

        What makes sense is that that we are in a very desperate situation — as Gail pointed out the max output was in 2018…. 4 years later and despite efforts to reduce the burn as much as possible (without collapsing the global economy) we are at a critical juncture… this is total desperation time….

        Where is that f789ing Devil Covid… I am not keen to be sitting here with no power using a flashlight to spoon out my canned beans… balancing a 12 gauge on my knee….

        Finish It! Come on Fauci stop f789ing around.

      • MM says:

        I will go for this explanation for the moment.
        On the other hand, I see the physical situation being a problem.
        Why is Biden travelling to SA when Saudi Arabia lies in the USA as Saudi America.
        I am with shortonoil here. He never changed his statements about 2022.
        Berndt Warm from ASPO Germany in his book says, we can go to 2030 because of cross subsidies but also that is unclear becaus rising complexity in the end comes down to less net energy.

        Too early to say. We always said, that peak oil is a rear view thing.
        We need to adjust our view as in the movie Tennet: histroy is now developing backward (if you understand what I mean here, even I do not fully).

    • This does sound worrisome! Perhaps Saudi Arabia really needs to import oil from Russia, so that it can re-export it to its customers, including China.

      According to the article:

      The Russian cargoes are headed to Egypt’s Ain Sukhna terminal on the Red Sea where Aramco Trading Co has storage space. From there, the oil is transported by sea to several ports in western Saudi Arabia.

      Saudi Arabia’s energy ministry referred questions about the flows to Aramco Trading, which declined to comment. Officials at the Egyptian General Petroleum Corporation did not respond to requests for comment.

      Total power generation and shipping fuel deliveries to the kingdom are expected to reach around 9 million barrels in June, the highest since November 2020, according to industry and Vortexa data . This means that Egypt accounts for more than a third of them, which is essentially Russia.

      So, reduced oil shipments to Europe are going to Saudi Arabia, and from there, on to China and other customers. So much for sanctions against Russia!

      • Fast Eddy says:

        Hahaha … this is great news!

        We are even more f789ed than even the most pessimistic person thought.

        Everything about the Ukraine thing, sanctions .. war … embargoes etc etc etc….

        It’s Matrix. It’s bullshit.

        This is all about providing cover for the horrifying truth – which is — the oil situation is far far far worse than anyone could have imagined….

        The fact that we are completely captured by a ‘Matrix’ cannot be more obvious. We are looking at two totally divergent realities here… this exposes the massive lie that is being told to 8B people.

        But this is a lie that MUST be told. For obvious reasons.

        • Student says:

          Thinking about it, I think that this is possible. Expecially the point about Saudi Arabia.

      • HappyMotorist says:

        So maybe it’s that we need Russian oil regardless of sanctions, and they need to allow Russian oil to get out in the market to avoid major problems and a general slowdown. So the samctions are just theater for the public of the west.

      • geno mir says:

        I a surprised that someone, anyone, was expecting those sanctions to work.

    • Adonis says:

      Wow

  14. Rodster says:

    So is this why Pfizer wanted to seal their mRNA internal data for 75 years?

    https://www.globalresearch.ca/bombshell-document-dump-pfizer-vaccine-data/5763397

    The quick takeaway:

    By February of 2021, Pfizer had already received more than 1,200 reports of deaths allegedly caused by the vaccine and tens of thousands of reported adverse events, including 23 cases of spontaneous abortions out of 270 pregnancies and more than 2,000 reports of cardiac disorders.

    Here’s one of the mRNA documents on the “Fun Factory” their vaccines creates and yup facial paralysis is one of the side effects.

    https://phmpt.org/wp-content/uploads/2021/11/5.3.6-postmarketing-experience.pdf

    • I see that this is an updated report, versus what was available earlier:

      First published on December 5, 2021, updated December 18, 2021.

      Since publication, important new sections of this confidential Pfizer report have been released.

  15. Fast Eddy says:

    The price of fear

    First-person stories of the damage from two years of public health hysteria and useless rules (Vol. 1)

    https://alexberenson.substack.com/p/the-price-of-fear

  16. Fast Eddy says:

    BA.5’s widespread mutations made the subvariant less recognizable to all those antibodies we’ve built up from vaccines, boosters and past infection. BA.5 has been able to slip past our immune systems, ninja-style, contributing to the rising rate of breakthrough cases and reinfections.

    This comes as no surprise to epidemiologists who’ve warned for many months now that persistently high case-rates—which they largely attribute in part to a stubborn anti-vax minority in many countries—would facilitate ever more infectious and evasive variants and subvariant. The more infections, the more chances for significant mutations.

    https://boriquagato.substack.com/p/i-see-we-have-entered-the-ninja-level

    hahahahaha…. unfortunately the MOREONS will believe this …

    This is why we must enjoy Schadenfreude … they want to kill us for giving them The VAIDS

    https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F497989d8-dfc3-4ecc-a2b0-c5fcc7212375_1717x1308.jpeg

    • MM says:

      This is not funny at all because you can bet that the unvaxxed could have an even shorter lifespan as the vaxxed if things go sideways….

      • Fast Eddy says:

        All I care about is not dying or being maimed by the jab… I want to see the end game.

        If the end game is as I expect Devil Covid (+ perhaps the nukes!)… and I go before the vaxxed… that’s a huge win. A big bomb into my kitchen would be ideal because

      • Fast Eddy says:

        ………. fooled you huh… no bomb yet…

        because that’s better than starring in Global Holodomor

  17. Fast Eddy says:

    These mutations are hard to keep track of! Notice how these types of stories are never behind the paywall?

    ‘On the march’…. use of military terminology is very effective at inspiring fear…. gird your loins and be sure to get more boosters as we prepare to go into battle (again)

    As BA.5 fuels another surge in cases, a new Omicron subvariant is also on the march

    Scientists are concerned about the highly mutated BA.2.75, dubbed Centaurus

    It is gaining ground in India and could be more effective at evading immunity

    https://www.scmp.com/news/china/science/article/3184919/ba5-fuels-another-surge-cases-new-omicron-subvariant-also-march?module=lead_hero_story&pgtype=homepage

    • Azure Kingfisher says:

      What a wonderful pantheon we’ve set up for ourselves: “Alpha,” “Beta,” “Delta,” “Omicron,” “Ninja,” “Centaurus.” Are we really so different from our ancestors? We look down on their superstitions and likely misidentify the relics they’ve left behind. We have yet to emulate them in terms of carving little wooden idols for each of these new viral gods that have been foisted upon us. It was the CDC who made the first effort at idol creation though:
      https://phil.cdc.gov/Details.aspx?pid=23311
      Given our civilization’s propensity toward expressing creativity in the digital realm it seems unlikely that future generations will dig up much in the way of physical artifacts from the COVID-19 era. Surely, they’ll ask themselves, “what did these people worship?” “What was important to them? What did they value?” The masks will have deteriorated by then; the 6-foot distancing stencils on the pavement will have faded. Perhaps they’ll unearth a puzzle piece: a carefully preserved stockpile of mRNA “vaccines” or rapid antigen test kits – excess left over from a bygone era of madness.

  18. Vivek Parulekar says:

    US Steel mills and Aluminum mills are suspending operations because energy (and electricity) costs are too high for their products as explained in following story titled “The US Industrial Complex Is Starting to Buckle From High Power Costs” https://www.bloomberg.com/news/articles/2022-07-07/high-power-costs-force-us-industrials-factories-to-shut#xj4y7vzkg
    I presume that what they mean is that, it is not worthwhile producing more of their product, when the energy costs become too high, because the products become unaffordable to the marginal consumers and their customer base starts shrinking – which is the core of Gail’s thesis.
    It is really eye-opening to see this thesis play out in real life.

    • It sounds like it is both aluminum and steel production that is being reduced, because of high natural gas and electricity prices.

      The high level of exports to Europe is a factor in the much higher prices (triple the industrial electricity price, according to the article). According to the article:

      The Industrial Energy Consumers of America has been calling on the Biden administration for months to limit the amount of gas US energy suppliers send overseas, warning that exports would eventually lead to supply shortages at home. But a measure like that would set a dangerous precedent and threaten the billions of dollar of investments in liquefied natural gas terminals along US shores. Shipments overseas have so far remained unfettered.

      If things get too out of hand, it seems like there might be a change in party elected. Or something else major will change.

    • Fast Eddy says:

      Hard to imagine we will see another Christmas

    • MM says:

      Another Question for Zeihan.
      This also applies to the Trump video posted here shortly.
      The US administration was 100% sure that fracking is the new Saudi America.
      Why does it not solve all the problems?
      (rhetorical question here)

  19. Rodster says:

    “Calm Before The Tempest?“ by CHS

    https://www.zerohedge.com/markets/calm-tempest

    • Charles Hugh Smith defines the core as follows:

      A great many people think there are many core economies. In my analysis, there is only one, due to the qualifying requirements: 1) issues a reserve currency, i.e. not pegged to another currency 2) liquid global markets for securities, debt, commodities, etc., i.e. anyone anywhere can trade in size in the core markets 3) transparent market and governance mechanisms, i.e. no overnight devaluations, expropriations, capital restrictions, etc. 4) diverse economy not dependent on exports or imports for its well-being and 5) ease of flow: capital, talent, enterprises and employees all have essentially unlimited freedom of movement within the core.

      If there is only one such core economy, I would presume that CHS is referring to the USA.

      CHS ends his post with this statement:

      Is it beyond conception that the core actually strengthens for a length of time before the unraveling reaches it? In my crystal ball, it seems not just possible but likely. This will be the calm before The Tempest, when the unraveling reaches the core and structural changes are finally required.

      I suppose that CHS could be correct, at least for a time. Maybe the currency of the USA can float higher and higher for a while, as many other countries do worse. Maybe engineers from the USA can take a look at Russia’s energy resources and see if any of them can be economically extracted and shipped to where they can be used. They perhaps can get more fossil fuels out elsewhere, for a while, as well.

      • MM says:

        The Russians call that idea the golden Billion.
        It was a long term topic in their historical debates.
        From the latest info I see from Russia, they consider this concept failed and are quite convinced that this “threat” does no longer bother them.
        Jack Alpert had a somewhat smaller form of that.

        In the end, a bottleneck surviving area needs a certain geographic position, materials and manpower. If you do not want to build that (I do not see anything like that going on right now) you could try to make the USA be that. From how I understand Alpert he thought that the USA is/has no suitable location.
        Would be interesting to talk to him now…

    • Fast Eddy says:

      Weak article…

      The Core cannot exist without the periphery intact – what happens as peripheral countries collapse and default on debt? What about the supply chains — some peripheral countries may produce not a single key widget that is necessary for the core to function (Somalia?) but without a doubt there are many peripheral countries that are crucial (oil and other key resources).

      The core may hold up a little longer than other countries… but as soon as one key non core country goes to pieces… the core implodes….

      And even if a number of bottom dweller countries go Mad Max — Somalia, Ethiopia, North Koreas, Burma and so on — does this not set off a panic in the core?

      We have seen how cattle reacted in the Indonesian abattoir as they watched their mates get hacked to pieces…. it was horrifying for them….

      One has to think the MOREONS will react similarly as they see nations descend into Darkness.

      Various message boards are alight with comments on the Sri Lanka situation with ‘coming soon everywhere’

  20. Fast Eddy says:

    Oh wow….

    Suppose the plan is to ASSASSINATE Joe Biden, and blame it on a “far right” patsy. . . .
    Then they can go after everybody’s guns, and cancel the election—a fitting culmination of the fascist rollout that began in Dallas on 11/22/63. (Pass it on.)

    https://markcrispinmiller.substack.com/p/suppose-the-plan-is-to-assassinate

    • Rodster says:

      False Flags are real have been used in the past by the US Gov’t.

      • Bobby says:

        Abe’s sacrifice secured a majority to insure power
        So whatever, who knows and Who benefits?

        Disarming American citizens would be problematic. Americans are unlikely to disarm, because of their historical conditioning. It’s both an absolute right and duty to bear arms and defend one’s self from threats both domestic and abroad. The general economic, racial and cultural, moral and ethical divides that exists in Americas as well as systematic insecurity reinforce this paradigm.

        It’s more likely Americans would disarm only after a sustained civil war, sadly; that is the most likely pathway approaching scarcity and energy crisis, unless perception can be focused on external existential threats, real or imagined. America traditionally has benefited from it’s inception by producing, manufacturing and exporting arms. This in turn has made much of Americans foreign policy possible. Old habits die hard. She is geared for war. Henceforth isn’t academic for figure out and equivalent to neutron stars colliding geopolitically and geophysical. Aftermath’s the most likely outcome

  21. CTG says:

    I think the denial of masses on vaccine adverse effects is identical to the denial of peak energy. The masses cannot handle the truth. They would rather be coddled by lies that everything is well….. until the truth slams into the face…

    Alternative explanation is that decades ago the truth was known but it was covered up, hoping that technology would resolve this peak energy issue; partly those in charge wanted to kick the can so that it becomes the issue of future politicians. That “report” on peak energy got lost or covered up until it was forgotten. Lies built upon lies until it becomes “the truth”. Example… in the 1970s perhaps many reports on peak energy and population went presented to leaders. Decisions made were based on “future tech will help, we still have time”. Can kicked, decision made, all good, no need extra reports, perhaps new problems were covered up or suppressed because it is not politically palatable (like Carter asking to turn up thermostat). Buried… all good Repeat for decades. Original issue on peak energy forgotten and replaced by wind and solar will save us. Repeat mantra for years. It becomes the truth. Bam… reality hits.

    Perhaps what we are now is a combination of both.

    p.s. those who worked in management level in companies knows how easy it is for a report “not reaching” top management especially if it implicates a higher up. Something happening in a country…

    • Slow Paul says:

      It’s all about MPP and discounting the future. Why settle for less when we can have more riches today? We are still animals.

    • The many problems do seem to be hidden together.

      The energy situation in Europe somehow still seems to be hidden behind, “This is a temporary problem. We have decided to punish Russia in this way, so that Russia will behave properly in the future.” Somehow, the very serious situation gets hidden from most of the population.

      In a way, however, it is a very serious world situation. How can we continue global travel at the current level, if oil supply is hitting limits? Doesn’t food production and transport need to change dramatically, of a lot of people are likely to starve in the next few years?

  22. Fast Eddy says:

    Why don’t the vaccines work?

    Explanation from Professor Edward J Steele, Molecular and Cellular Immunologist, Geneticist and Microbiologist.

    https://metatron.substack.com/p/why-dont-the-vaccines-work

    • Azure Kingfisher says:

      I came across this point when reading other sources, too:

      “The vaccines can’t work because a jab in the arm can’t stimulate a mucosal antibody response in the nose, mouth and intestinal tract where they are needed to neutralise the virus before it can enter cells and replicate. This is the path to natural immunity.”

      I remember there have been attempts at manufacturing vaccines that work as aerosol sprays inhaled through the nose. This would seem the most basic, sensible approach to creating any new vaccines. Why in the hell would you not emulate the viral transmission process as closely as possible? Also, you’d relieve the “I’m scared of needles” people, eliminate injection site scarring, bruising, and temporary arm mobility issues, and probably even mellow out the children by no longer needing to stab them. Pro-vaxxers should be all about advancing inhalable vaccines. Put an end to barbaric practices, people.

      • ivanislav says:

        I always wondered about the logic of it, but here are some arguments for the route taken:

        There may be a fear of anaphylaxis with regard to nasal sprays. The airway isn’t really something you want to poke around, so that might affect business decisions about which line or research to pursue.

        As for the conceptual problem of an arm jab not inducing a mucosal response – there could in theory be some medical benefit to inducing antibodies that prevent its circulation of a virus and/or its antigens in the bloodstream and affecting other organ systems. I’m speaking generally, not about COVID specifically.

        • Fast Eddy says:

          You seem to think the purpose of the vax is to protect people hahaha

          The purpose of the vaccine is to KILL. To Exterminate.

          If they could have got the spike protein to infest the body of the recipient with a less invasive nasal spray – they would have done that.

          It is NOT possible to vaccinate against a coronavirus safely or effectively https://www.wired.com/2003/05/feds-race-to-make-sars-vaccine/

          It is NOT possible.

          And yet they had this ready to roll within a year of Covid … give your head a shake .. this shit was developed long before this latest version of the flu …

          It was weaponized and fully tested years ago

          • ivanislav says:

            You misinterpret my points. They are not an endorsement of the jab.

            I’m pointing out why, even in the absence of mal intent, pharma execs would veer away from nasal spray program. And how, in theory, a non-mucosal immune response might help even for pathologies predominantly targeting the lung.

  23. A Dire Situation

    The head of the Swiss gas industry, André Dosé, warns about the dangerous energy and electricity situation facing Europe in the aftermath of the self-destructive decision on the part of the European governments to go to war with Russia and China on the orders of the US-based neocons. Of course, if the Swiss had maintained their historical neutrality, they could simply ask the Russians for help, but instead they’re being retaught the painful lesson of a) taking sides and b) aligning with the losers.

    How dire is the situation?

    We have a huge problem. There are currently increasing signs that no more gas will flow from Russia to Europe via Nord Stream 1 after the maintenance in July. The gas shortage in Germany could be declared in the next few days. Coal-fired power plants are now being used in Germany to produce electricity. At the same time, 40 to 45 percent of the nuclear power plants in France are out of operation. And the world’s largest gas supplier, Uniper, has asked the state for stabilization measures because of liquidity problems. Under these conditions, it takes very little for energy to run out in winter.

    Does that also apply to Switzerland?

    Yes. We depend on year-round gas imports and electricity imports in winter. This crisis in Switzerland is largely self-inflicted. The Energy Strategy 2050 is built on sand. It was assumed that there was no population growth, the population reduced electricity consumption. Likewise, electromobility was not included in the scenarios when voting. It was a dream that would never have worked one way or the other. The Ukraine war is now forcing us to rethink dramatically.

    What must Switzerland do now?

    There is no short-term solution. The expansion of photovoltaics is all right and good – but it won’t get us through the winter. Switzerland lags behind other countries in Europe. In addition, we do not have an electricity agreement with the EU, which does not improve our situation.

    The “Perfect Storm”.

    Yes, unfortunately. And I don’t have the impression that people in this country are aware of how dangerous the situation is. If the population is now called upon to take a shower instead of a bath, then the scope of our problems is fundamentally misunderstood.

    André Dosé zur Energiekrise: «Man ist sich in der Schweiz nicht bewusst, wie gefährlich die Situation ist», NZZ, 6 July 2022

    The situation is economically cataclysmic, and may even prove to be societally cataclysmic. Three years ago, a megawatt hour of gas cost EUR 7. The price is now EUR 175, and is expected to rise to at least 250.

    Spot electricity and gas markets are blowing up. But, less noticed, so are 2023 and 2024 gas prices.

    Germany’s gas situation is dire. They are issuing official warnings about rationing. Lots of manufacturing will get turned off. People who hedged forward will face massive margin calls. Industry experts are predicting governments will have to do bailouts.

    I do not think Europe will sustain its current position on UKR/Russia through this winter. And Putin can squeeze much harder. European voters will not support large hits to their living standards to fund turnign UKR into rubble and fighting between people screaming in Russian at each other.

    The media and much of academia has cheered for the war so it’s very hard for them to cover this story…

    The war against Russia was always and obviously going to be a complete disaster, without even taking China and the other BRICSIA nations into account. The European countries absolutely need to surrender now, before the weather turns cold and their need for heat and electricity rises. But as with the defeated Ukrainian military forces, it is unlikely that their globalist masters will permit them to do so. After all, the globalist elite doesn’t care about freezing Poles, Germans, or Swiss any more than they do about their starving Ukrainian cannon fodder.

    UPDATE: Today’s NZZ is discussing the possibility that Switzerland will lose 30 to 40 percent of its power this winter. It seems to me that the wisest approach to the incipient crisis would be a) declaring permanent neutrality, b) unfreezing and restoring all Russian assets, and c) sending a delegation to Moscow to apologize to the Russian people and request assistance.

    UPDATE: French authorities are preparing for a complete suspension of gas supplies from Russia, according to the country’s Finance Minister Bruno Le Maire, who sees such a full shutdown as the “most likely scenario.”

    https://voxday.net/2022/07/10/a-dire-situation/

    • If I lived in Switzerland, I would be worried. I certainly would not be shutting down what nuclear electricity production that is available. Switzerland needs all the help it can; it is a land-locked country without energy resources of its own, other than some hydroelectric and perhaps a few trees to cut down.

    • Rodster says:

      This is why we are seeing a rise in civil unrest around the world. The Plebs have taken note that their elected officials have made bad decision after bad decision and continue to double down at their expense. Their lives have been impacted and made worse. The masses of Sri Lanka responded by storming the Presidential Palace and demanding the President resign. Expect more of that in 2022-2024.

    • drb753 says:

      Those expecting new incredible discoveries from CERN should not hold their breath. Their machine will never run again.

    • lurker says:

      people are still mostly asleep in europe. i’m getting an old chimney in our house fixed, and installing a wood burning stove, so i’m looking online at 2nd hand wood burning stoves. no shortage of these at all, there are 2 available in just the small (<10k) town i live in. i've tried to encourage a few people to stock up a supply of wood for winter, as even the head of our national gas company recently said, in not quite so many words but not far off, we're going to run out of gas this winter. yet even despite this, people think i'm weird for suggesting that a cubic meter or 5 of wood might not be a bad idea.

      • Strange! It seems like people would figure out they are dealing with a much worse problem than a self-imposed temporary problem in which countries are trying to hurt Russia, so that Russia will stop causing problems in Ukraine.

      • Fast Eddy says:

        When I lived in Bali and set up a large organic farm on our property — I offered to pay for seeds and training for the villagers in our area to learn how to grow organically (they have no idea… as they’ve been pouring urea onto their crops since the green revolution decades ago).

        ZERO interest. Absolute ZERO. Not a single person signed up.

        Guess where they’d be headed if I was still there with my nice fat organic garden when collapse hits.

        It’s futile — even if you convince some people near you — there will be many thousands headed your way the minute they see chimney smoke — or hear there is food.

        • ivanislav says:

          Good point. Don’t advertise that you prep.

          • Fast Eddy says:

            Ever raided a neighbours veg garden when you were a kid?

            We did.

            The sprouting veggies were a advertisement ‘Here’s Food!’

            When there is no food a veggie garden will last at most a few hours – the hordes will be into it.

            Every animal – including pets – will be eaten.

            Something as innocuous as chimney smoke on a chilly day — will bring the hordes… any sign of ‘civilization’ will bring the hordes.

            They will be storming the farm gates — once they finish looting the palace … https://www.dailymail.co.uk/news/article-10997467/Thousands-protesters-Sri-Lanka-storm-presidents-official-residence.html

            You seem to think they’ll just leave you alone … that is seriously delusional.

            • Tsubion says:

              +++++++

            • lurker says:

              thanks for your usual optimism, FE 😉

              i’m aware that smoke from a chimney will be a magnet for starving, freezing hordes. if we get to actual freezing and starving, i’ll use it as little as possible and at night only while the zombies go apocalypsing. i’m guessing in that scenario lots will die quite quickly, so it’s a matter of surviving those first few weeks (i’ve got a bottle of gas = no smoke for a few weeks). i live in a rural area surrounded by farmland, have a half year or so of food stored and the ability to grow more in a very unpopulated region; i figure i have a chance of surviving, as i’m aware and planning for what’s coming, but am equally philosophical as to where things might end. if zombie hordes do overrun us, or spent fuel ponds light the night, i’ve got a source of carbon monoxide and a bottle of whiskey to toast our demise with.

            • Fast Eddy says:

              You should stock up on chemotherapy chems…

              There are 4000 Spent Fuel Ponds Around the Globe…

              If you don’t cool the spent fuel, the temperature will rise and there may be a swift chain reaction that leads to spontaneous combustion–an explosion and fire of the spent fuel assemblies. Such a scenario would emit radioactive particles into the atmosphere. Pick your poison. Fresh fuel is hotter and more radioactive, but is only one fuel assembly. A pool of spent fuel will have dozens of assemblies.

              One report from Sankei News said that there are over 700 fuel assemblies stored in one pool at Fukushima. If they all caught fire, radioactive particles—including those lasting for as long as a decade—would be released into the air and eventually contaminate the land or, worse, be inhaled by people. “To me, the spent fuel is scarier. All those spent fuel assemblies are still extremely radioactive,” Dalnoki-Veress says.

              It has been known for more than two decades that, in case of a loss of water in the pool, convective air cooling would be relatively ineffective in such a “dense-packed” pool. Spent fuel recently discharged from a reactor could heat up relatively rapidly to temperatures at which the zircaloy fuel cladding could catch fire and the fuel’s volatile fission product, including 30-year half-life Cs, would be released. The fire could well spread to older spent fuel. The long-term land-contamination consequences of such an event could be significantly worse than those from Chernobyl.

              http://science.time.com/2011/03/15/a-new-threat-in-japan-radioactive-spent-fuel/

              The Chernobyl accident was relatively minor, involved no spent fuel ponds, and was controlled by pouring cement onto the reactor. This was breaking down so a few years back they re-entombed.

              Estimates of the cancer burden in Europe from radioactive fallout from the Chernobyl accident

              https://pubmed.ncbi.nlm.nih.gov/16628547/

              BTW – I had a long document with very detailed research on spent fuel ponds that seems to be deleted from my computer…. I spent many hours compiling that.. It was at that time I realized the complete folly of prepping (there were already serious cracks in the mass psychosis gripping me)…

              And soon after I decided to move to Queentown and abandon my Massive Folly and $$$ sink.

              Feel free to continue with the Delusion though… you can just ignore the ponds… pretend they will somehow just burn out a few days after the water vapourizes and they’ll present no danger.

            • Ed says:

              Spent fuel burning only lasts as long as it takes to burn. My rule of thumb says about a week to eight weeks by then it has vaporized and spread over the neighborhood. Maybe 1000 miles in the down wind direction. But only 100 miles wide.

            • Fast Eddy says:

              Feel free to just make stuff up …

              What are fuel rods?

              They’re the source of the fission reaction that makes nuclear plants work. Fuel rods are long metal tubes filled with uranium that’s been formed into pellets. When these rods are placed inside the reactor, nuclear fission occurs, generating heat. That in turn boils water and creates steam, which powers turbines and produces electricity.

              When the uranium fuel is used up, usually after about 18 months, the spent rods are generally moved to deep pools of circulating water to cool down for about 10 years, though they remain dangerously radioactive for about 10,000 years.

              https://theweek.com/articles/485781/radioactive-fuel-rods-silent-threat

          • Tsubion says:

            They’ll still find you. The hills have eyes.

    • Fast Eddy says:

      Interpret — nothing to with Ukraine — there is not enough supply to meet demand.

      If the snow falls in Switzerland in December — and there are no people alive to see it — is it still winter?

    • MM says:

      What this guy says is not true but in parts.
      Mr Jancovici held a talk at the OSCE in 2019:
      https://www.youtube.com/watch?v=WGd7EkMhLcU&t=1s

      He clearly describes everything you need to know to make “a” decision.
      (uhm, not the first time)
      Nobody wanted to know it. And now they are in doubling down mode.
      This way they can impose restrictions on just about everything and gain more power.

      “Control the masses while they die” is what we will have to live with now.

  24. Michael Le Merchant says:

    Meanwhile in Africa: The sovereign debt crisis is drawing closer. USD bond yield of S&P African Sovereign Bond Index – 11.5%.
    https://pbs.twimg.com/media/FXXJNWdXkAA6nnS?format=jpg&name=900×900

    • It is possible to get some really high yields (for a short time, and no return of capital).

    • Fast Eddy says:

      What’s stopping African nations from going Sri Lanka… places like Nigeria with massive populations who mostly live on the edge to begin with — why is inflation not bringing them onto the streets seeking politicians to skin alive????

  25. Herbie Ficklestein says:

    So you live in a protected Gated Community with security! That means

    MIAMI LAKES, FLA. (WSVN) – Burglars broke into multiple vehicles parked outside at least 20 homes in a gated community in Miami Lakes, taking off with thousands of dollars in valuables and depriving residents from their sense of security.

    Tony Lopez said he’s one of dozens hit by a group of crooks along Northwest 87th Court during the overnight hours and into Sunday morning.

    Surveillance video captured the perpetrators as they went from house to house and broke into multiple cars.

    “When I came outside, my truck’s door was open. Everything was taken out of my vehicle,” he said.

    The security footage showed the burglars on foot as they opened car doors and rummaged through people’s personal belongings.

    Residents said the bandits broke in through the side gate.

    “In the neighborhood that I’m in, I didn’t expect it. We have security here,” said Lopez. “I would think I would be somewhere safe, but you’re not safe.”

    Surveillance video showed the thieves hopping inside a white getaway car after they were seen breaking into the vehicles.

    Now Lopez, Rodriguez and other neighbors are hoping police are able to stop the crooks in their tracks, and they can once again live in peace.​

    “I’m super upset. I mean, I’m furious. I want my belongings back,” said Lopez.

    7News has learned a car was also stolen.

    Hmmm…

    • Rodster says:

      I know that area as I used to live in Hialeah back in the late 70’s. Don Shula owned a home in Miami Lakes.

    • Fast Eddy says:

      Nah… they won’t come for the doomie preppers…

      • Herbie Ficklestein says:

        Big local News story here last evening…seems it’s happening often now a days….They are shocked and in dismay…imagine that!

  26. Michael Le Merchant says:

    Japan May Ask People to Cut Back on Natural Gas Next

    (Bloomberg) — Japan may ask households and businesses to cut back on natural gas use on concerns that stable supplies from Russia could be disrupted.

    The country’s trade ministry will create a framework allowing it to call on large companies to curb gas use when supply is tight, Nikkei report from Sunday, without saying where it got the information. The government will first ask households and businesses to curb gas usage to the best of their abilities, and if that’s not enough to avoid supply shortages will follow up with specific conservation targets, the report said. Details of the framework will be discussed among a ministry panel before demand for the fuel peaks in winter, according to the report.
    https://www.bnnbloomberg.ca/japan-may-ask-people-to-cut-back-on-natural-gas-next-1.1790191

    • If Japan can’t get the natural gas it normally gets from Russia this winter, it will have a problem.

      It sounds like that for this week, things are OK. The big problem is the transfer of ownership of the rights to the Sakhalin-2 natural gas project to a new company, which could threaten foreign owners including Japanese firms.

    • MM says:

      We have all the means to navigate millions of people into a gas shortage scenario but we do not have the means to take a plane to Moscow or Kiew, neither do we have a telephone.
      Another problem here might also be related to the topic of admitting the transition away from fossil fuels is a bit more complicated as WOPR calculated.

      Russia has not said a single word about “cutting off gas” because that would mean cutting off business possibilities. The other countries do not have that problem. They can simply steal money from a central bank and no one even peeps about that.
      Great, simply great.

      • Jef Jelten says:

        So what is the net effect there? Clearly Russia must be vilified, demonized in the eyes of the world. Even iat the expense of the western world. This is what is happening…why?

        • Fast Eddy says:

          Same reason why Klaus dresses in the Klingon outfit… it’s all theatre… Putin is also the bad guy responsible for inflation … ‘it’s temporary’… if otherwise we get total panic about now

        • geno mir says:

          The net effect is 70B trade surplus for Russia in Q2. I just read the headline and I am not sure if this is total of 70B or it is 70B more compared to Q2 from last year.

        • MM says:

          let me put it as “Putin derangement syndrome”.
          It is well established psychlogical science.

    • D. Stevens says:

      Why would transferring ownership of pipelines be a supply risk? Wouldn’t whoever the owner be want to transit as much fuel as possible to get paid for delivery? Makes me wonder if the supply of gas doesn’t exist in the quantities needed? I looked at the article and it wasn’t clear to me. Same thing with the EU. Seems like the gas supply situation is worse than generally known. I wonder if everyone will muddle through another winter or if this time things will get bad? I’m told peak-oil is a myth because we’ve been hearing about it for years and nothing ever happens. Eventually it will happen. Could be soon.

      • Oddys says:

        I agree. All this would make perfect sense if the gas just is not there to ship. The entire NS2 could very well be pure cargo-cult

      • Too many buyers have been depending on natural gas supplies, but those natural gas supplies are not expanding very rapidly. In fact, we know little about the details. It may be that the Sakhalin supply is already running short.

        If we look at the Sakhalin II wikipedia page, we find this description of LNG contracts:

        Contracts for the supply of LNG have been signed with:

        Kyūshū Electric Power Company: 0.5 million tonnes per year – 24 years (June 2004)
        Shell Eastern Trading Ltd: 37 million tonnes over a 20-year period (October 2004)
        Tokyo Gas: 1.1 million tonnes per year – 24 years (February 2005)
        Toho Gas: 0.5 million tonnes per year – 24 years (June 2005)
        Korea Gas Corporation: 1.5 million tonnes per year – 20 years (July 2005)
        Hiroshima Gas Co. Ltd: 0.21 million tonnes per year −20 years (April 2006)
        Tōhoku Electric Power Company: 0.42 million tonnes per year – 20 years (May 2006)
        Osaka Gas: 0.20 million tonnes per annum – 20 years (February 2007)
        Chūbu Electric Power Company: 0.5 million tonnes per year – 15 years (August 2007)[citation needed]

        The article also says, “The LNG plant production capacity is 9.6 million tons of LNG per year. The consortium is examining the possibility of adding another train.[with a 2007 reference]” Rather obviously, a decision was made not to add a second train.

        If we add the length of planned supply to the beginning date, we can see that the “running out” date gets closer and closer to 2022.

        The earliest contract was for 24 years from 2004, or 2028.

        The most recent contract was for 15 years from 2007, or until August 2022, which is coming up very soon. I am afraid that depletion is a big issue.

    • Fast Eddy says:

      Oh yes… let’s commit Seppuku… cuz for Mr Z… Mr Z and his Nazi Brigade are Fighting for Freedom… the Japanese should be willing to starve as a show of support for Mr Z!

      This is a logical decision they are making.

      • Tim Groves says:

        Alas, iIf only Mr. Abe was still around. He got on very well with Mr. Putin.

        This, from the Economist, in May:

        te: You met with Vladimir Putin some 27 times. What advice would you offer on dealing with Putin now?

        as: I don’t think there are many options left in this situation. There are lots of ways to analyse Putin’s character, but I think he is someone who believes in power and is a realist at the same time. He is not the type of person who pursues ideals, or makes sacrifices for ideas.

        Before the invasion, when they had surrounded Ukraine, it might have been possible [to avoid war]. If [Ukrainian president Volodymyr] Zelensky could have been made to promise that his country will not join nato, or made to grant a high degree of autonomy to the two enclaves in the east. I understand this would be hard to do—perhaps an American leader could have done it. But of course [Zelensky] would refuse.

        However, now that we are here, I think the only way forward is to stand with Ukraine and thoroughly oppose Russia’s aggression. That is the way to protect the international order that we have created since the end of World War II.

        te: Do you regret spending so much political capital and time on Putin?

        as: Not at all. I thought we had to reduce the threat in the north, and put our forces in the south-west. I thought it was my responsibility to conclude a peace treaty, and negotiate to solve the problem of the four islands. Many Russians are overwhelmingly opposed to returning the Northern Territories to Japan. In this situation, it would be difficult for a leader without a solid base of power to resolve the issue of the four islands. I believed that Putin was the right person for the job. I believed that he understood the benefits of concluding a peace treaty with Japan in the medium to long term.

        We reached an agreement in Singapore, and then there was progress at the Buenos Aires meeting. But unfortunately, even he does not have complete dictatorial power, and even he cannot decide everything. I believe he hesitated in the face of strong opposition. Almost everyone except him was against the peace treaty or against proceeding with negotiations to resolve the territorial issue. It may also have to do with how his approval rating was on the decline.

        https://webcache.googleusercontent.com/search?q=cache:EORQ62OvF8YJ:https://www.economist.com/AbeInterview+&cd=1&hl=en&ct=clnk&gl=jp&client=safari

    • I am not an expert in these things, I am afraid. This is from May 2011.

      • Jan says:

        Yes. Discussion is still going on in 2022 as far as I can see – apart from the mainstream. Science is not only about who is right or wrong but also about the personalities and obstacles behind it. The right/wrong-thing changes over the years as we know. Strong intellect, strong personality! For me a remarkable interview.

  27. Michael Le Merchant says:

    Look how many in NSW hospitals that are unvaccinated. “Pandemic of the vaccinated”
    https://pbs.twimg.com/media/FXSMDmbVEAENXqO?format=jpg&name=large

    • Strange! A lot of unmatched records, however.

    • D. Stevens says:

      That’s because there’s only 8 people left in NSW who aren’t vaccinated and they don’t believe in medical care so will never turn up in the health system.

      • nikoB says:

        That would be my entire family then. I think the stats are a little over stated. It is not 95% vaxxed it is more like 94.7%.

    • Fast Eddy says:

      I’d be keen on numbers of VAIDS patients in the hospitals.

  28. Michael Le Merchant says:

    Newcastle Coal Futures

    New Record:
    https://pbs.twimg.com/media/FXYDdAZXkAYTdml?format=jpg&name=large

    • But lots of people seem to think that the world has an incredibly abundant supply of coal.

      • Fast Eddy says:

        They have been mass psychosed… nobody tells them that what’s left is mostly garbage brown coal

        • Ed says:

          frostbite or burn brown coal. answer burn brown coal.

          does NZ have any coal?

          • Fast Eddy says:

            NZ has coal. Expensive coal.

            Ever tried to burn brown coal? It ain’t suitable for heating a house…. it does not burn hot enough

  29. Michael Le Merchant says:

    Covid-19: Hong Kong to enact China-style health code system; electronic bracelets for those in home isolation

    Hong Kong will implement real-name registration for the contact-tracing LeaveHomeSafe app and China-style health codes to “identify” those infected or undergoing quarantine, the new health chief Lo Chung-mau said on Monday.

    Lo also announced that, starting Friday, those undergoing home isolation due to being infected will be required to wear an electronic bracelet to ensure they will not leave their home.
    https://hongkongfp.com/2022/07/11/covid-19-hong-kong-to-enact-china-style-health-code-system-electronic-bracelets-for-those-in-home-isolation/

    • This doesn’t sound like it would be a popular idea in most countries.

      It would be necessary to be spending an incredible amount testing everyone and an equally incredible amount monitoring everyone. It would keep down world demand for fossil fuels somewhat, however. Hong Kong is the financial center for China. This could be affected as well.

    • Rodster says:

      It was never about Covid but all about total control over the Plebs. The world of George Orwell’s 1984.

    • D. Stevens says:

      This does not go far enough and I think they should also be required to wear explosive neck collars to be sure they comply with quarantine.

      • Fast Eddy says:

        I don’t see myself every setting foot in HK again….

        BTW – it’s scorching hot and humid there now — and masks are required even outdoors. With that humidity it would be like being waterboarded all day long

  30. Michael Le Merchant says:

    AIX-EN-PROVENCE, France (Reuters) -France’s energy-intensive companies are speeding up contingency plans and converting their gas boilers to run on oil as they seek to avoid disruption in the event any further reduction in Russian gas supplies leads to power outages.

    Gathered over the weekend at a business and economics conference in southern France, several top executives said they were preparing for possible blackouts.

    “What we’ve done is we’ve converted our boilers, so they’re capable of running on gas or oil, and we can even switch to coal if we need to,” said Florent Menegaux, the boss of Michelin, one of the world’s leading tyre-makers.

    “The aim is to avoid having to shut down a plant in case we face a shortage,” he added, saying that while a gas shortage in Europe was likely, oil would still be available as an alternative.
    https://money.usnews.com/investing/news/articles/2022-07-10/fearing-russian-gas-shut-off-frances-industry-turns-to-oil

    • Oil sounds like a very expensive way to produce electricity. It likely uses diesel that farm machinery and heavy vehicles of many types need.

    • Fast Eddy says:

      We can run our Rayburn on diesel … with current prices that would easily double the fuel costs

      Hard to imagine we can last through the northern hemi winter.

      Not enough energy — and they the crops are being under-fertilized (if what we are told is true)

  31. Michael Le Merchant says:

    Lack of gas: The first municipalities are setting up heating rooms

    In the middle of summer, many mayors in Germany get chills down their spines. For the first time since World War II, cities are preparing to provide warm rooms not only for individual groups, such as refugees, but for the entire population. Many cities and municipalities are using their emergency plans from the time of the wave of refugees in 2015.

    This is what the emergency plans for heat rooms should look like
    “We are currently preparing for all emergency scenarios with a view to autumn and winter,” Steinruck told the Bild newspaper. The Friedrich-Ebert Halle will serve as the central warm-up station. It is a multi-purpose hall that usually hosts sporting events, exhibitions and concerts. During the corona pandemic, the hall was then used as a vaccination center.

    Steinruck is not alone with her idea for heating rooms. According to the picture, a number of other cities are already planning to set up heat islands. And not just in larger cities. Frankenthal, also in the Palatinate, is planning similar heating rooms in public facilities. The city has 48,000 inhabitants, and heat rooms are also being discussed in Landau.

    At the same time, the municipalities are intensifying their measures to use less energy in the event of a possible gas shortage. The city of Bamberg reported that all traffic lights and lanterns have now been converted to LED technology, Augsburg has largely dispensed with facade lighting and switched off many fountains, in Nuremberg three of the many indoor pools will close this week until the end of September. Munich has lowered the temperature in the outdoor pools. KOMMUNAL has already reported on numerous other measures and what smaller municipalities are doing to save energy.

    Energy companies on the brink of collapse?

    Meanwhile, many municipalities have a completely different concern these days. The great fear for Uniper. The group, a kind of rest ramp that the energy company EON founded in 2016 to sell its fossil power plant division, made big profits for years. The reason: they have so far dominated the cheap Russian gas business. However, since hardly any gas is now flowing through the Nord Stream 1 pipeline, only around 40 percent of the agreed gas volumes arrived by mid-June. Uniper now has to buy the gas expensively on the stock exchanges. There, however, prices only know one direction. A megawatt hour of gas currently costs almost 170 euros; at the beginning of the year it was a good 70 euros.However, Uniper is not allowed to pass on the increased costs to its customers because the sales price is contractually fixed.

    Up to this point, many local authorities could still speak of the “economic risk” of a company. The problem, however, is that Uniper’s customer base also includes hundreds of municipal utilities throughout Germany. So if Uniper were to slide into bankruptcy, numerous municipal utilities would no longer have gas and would also be at risk of insolvency. A “domino effect in the energy market” would be the result. The traffic light government has therefore already classified Uniper as a “systemically important company”. Economics Minister Habeck declared: “We will not allow such a company to go bankrupt and as a result cause turbulence in the global energy market”. Chancellor Scholz also made a similar statement.However, it is still unclear what this help will look like.

    A possible scenario: the price increases are passed on to all gas customers in Germany. Otherwise, the price jumps for households whose municipal utilities are supplied by Uniper would be extreme. The amended Energy Security Act gives the federal government opportunities to do this.
    https://kommunal-de.translate.goog/gasmangel-waermeraeume-kommunen?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp

  32. Rodster says:

    Confessions from a solar electric owner and why it doesn’t work and never will. Too funny, well at least he figured it out. by JHK

    https://kunstler.com/clusterfuck-nation/its-not-working/

    • Excerpt:

      At the risk of sounding like some kind of pussy, I confess that this whole business of repairing my solar electric system has put me into a welter of anxiety and fury. I am trapped in the cage of sunk costs, a.k.a. the psychology of previous investment. Not only do I have $35-K (in higher-value 2013 dollars!) tied up in all this equipment — the solar panels themselves, the wall of electronic devices, the conduit, control panels, and digital read-outs — but now I have to dump thousands more into it after only nine years. It pisses me off because I should have known better. I walked with eyes wide shut into the pit of techno-narcissism.

      The hyper-complexity of a home solar-electric system is extreme. There are hundreds of little integrated components that can blow, all of it adding up to a case of guaranteed fragility. There are no easy fixes or duct-tape work-arounds for any of it. I can’t make any replacement parts in my garage. They come from faraway factories via supply lines that get sketchier every day on trucks that don’t operate profitably at $6.50-a-gallon diesel fuel.

      In a low-grade epiphany while going through this ordeal last week, I realized that back in 2013, instead of getting the solar electric system, I could have bought the Rolls Royce of home generators and buried a 500-gallon fuel tank outside the garage, and had a manual water pump piggy-backed onto the well, and maybe even purchased a fine, wood-fired cookstove — and had enough money left over for a two-week vacation in the South-of-France. Silly me.

    • banned says:

      I disagree. Up to about 3 years ago I would tell people just go on grid if its there. Now it just doesnt make sense not to go off grid. Look if your a moreon and some guy sells you somthing overpice that will hurt you regardless whether its solar components or somthing else. $7 k puts a nice system in place. 2 k of that is batteries. 1 k for panel mount. disconects. wire. you find it cheap. Im still a lead acid batterie fan. Maybe im stupid. They last 4-8 years depending on how you abuse them. So take the low end 4 years. say both your charge controller and inverter die. The panels are good for 20 years. Say the system costs $4k every four years. It wont because the inverter and charge controller wont die but say they do. 4000/ 48. Thats $83 a month. A better estimate is charge controller and inverter dont die only batteries. $40 a month. But thats at 4 year batterie life. If you absaloutly baby them- run gen set on cloudy days- no washing machine after dark you can get 8 years out of a set. Thats $20 a month. And if grid goes down you still have power. Its not rocket science. The panels go to the charge controller. The inverter input goes to the Batteries. The inverter outbut goes to your fuse box. You got to figure out how much amps each one pulls and have correct wire size in conduit. Everything gets chassis grounded fused and appropriate disconnects. Ive never failed a inspection as a homeowner. Nor have the dozen or so people ive babied through installing PV. Now their all experts to hear them talk. Talk to your inspector. Hardest thing is mounting the panels IMO. If inspector doesnt like somthing he will let you know believe me. Talk to people. see what the cheap and safe way is to pass inspection. Some will try to make you pay for knowledge. find someone who doesnt. Because it aint all that. It aint brain surgury. it aint even a mechanic. Yea if you cant figure things out have zero mcgyver in you it will cost you just like anything costs you if you just say make it so with $. Or just say its magic and it comes out of the wall. I like water. The well pump needs that magic. I like making my own magic.

      some disagree with me. They think home owner installed PV is inappropriate and unsafe. Because they are the bestest ever. Only they being geniuses are fit to have PV. Its not for everyone. There is maintenance. There is understanding batteries. There is connectors and disconects and torque values and geek stuff. Whats not to like?

      The article is stupid. Grid juice is fossil fuel juice. Where is supply going for fossil fuels? Oh the components are complicated. We have been engineering power fets for a long time. The article should have “i paid too much” as a title not condemn PV as a power source. Anyone who can do 4th grade algebra and crunches the numbers for PV knows its a free money jar if you have even the tiniest bit of mcgyver in you.

      Solar hurts the power companies. It hurts them even if you dont make them by the power back. I dont like that but what can I say. I would never go back on grid if i had a choice. Never. Most feel the same. Your gal maybe not. If you want infinite power on demand the grid is for you. A pV system you live with what the sun provides, what the tide washes up. If you feel that it is a unbearable and unfair burden not to run a 1800 watt hair dryer at 9pm then PV is not for you. Of course a grid tie system means best of both worlds but no autonomy without batteries. Now you make the power company buy your juice and add even more uncertainty to the grid. Add batteries to a grid tie and you got it all- free power- long battery life as they are barely used. A grid tie system is like robbing a bank. Ive sat in a PV wholesalers office and watch client after client walk in and crunch the numbers. No brainer. Its a free money jar. Its even more lucrative than a stand alone but I personally wont make other people pay for my juice by making them pay for infrastructure i use. Am i not moral? Am I not ethical? well… The most conscious thing is to stay on grid if you want that nice lady down the street to have her grid power. All for one one for all. A grid tie system with battery backup is a free money jar. We all know how sustainable free money jars are but right now free money jar. Talking to people who know– The grid is not sustainable at about 20% of the people on PV. Industry cant make it on PV. The spiky hair mutants will take your PV post BAU. Yes yes yes and yes. Now its a free money jar. If you dont hand $40k to some salesman who takes his cut and the company takes theirs and the installers take theirs. Sweet cuts. Your a moreon? How bout you subcontract the work and get bids? All those sweet cuts become just a bit less sweet. Now its $20k. Its still a free money jar. Until the numbers of those on PV rise and legislators realize that PV is a threat to the grid only we wont get there. Grid goes down long before that. Not everyone crunches numbers. Most consider the magic in the wall to be eternal. You pay what it costs. Not everyone has room or wants panels. We wont get to the point where there is enough people on PV to threaten grid. Because grid goes down long before that.

      Everday I look over. Sun is shining. Free money in the batteries. You dont like free money PV is definitely not for you. But hey. Cant take a hammer to a ton of coal in the backyard. Rayburn is hammer resistant. Hard to pump water out of the hole in the ground with a rayburn. Oh a diesel generator says article author. well now is his chance. Lots of diesel equipment for sale for some reason. lets see. 1000 gallon tank. whats that cost? whats the risk that spills? Whats a 1000 gallons of diesel cost? You ever actually ran a diesel generator? Oh that black exhaust and noise yum how lovely. Your gonna be the favorite neighbor on your block! How you gonna get 1000g to your home? Sun is free home delivery. Amazon prime.

      • Fast Eddy says:

        Solar Power is just another delusion that doomie preppers have — they think that magically they’ll have electricity when BAU goes…

        It’s ridiculous — the hordes will come through your farm gate and rip up all the food – kill and eat your animals… rape your women … and kill you in a second if you oppose them.

        What good is a few solar panels at that point?

        James is dead on the money — when I was Pre Fast Eddy delusional I priced up solar – similar numbers — and I was told the life span of the batteries was max 12 years — usually 8.

        Grid power was costing me $200 a month — that broke the delusion.

        I did have a solar powered irrigation pump .. the mother board went on that in less than a year – another $1000 down the rat hole

        It’s much easier just to swallow a handful of Fentanyl.. if you can find a supplier

    • Fast Eddy says:

      Of course one could keep it simple and rely on a small set up to power at most a reading light… but then who would have time to read when after a long day on the Fast Eddy challenge — chopping and hauling wood by hand (from increasingly further distances)… washing clothes by hand… cooking.. weeding etc…

      It ain’t Little House on the Prairie as most Doomies expect.

      It is pure drudgery…

      Why not instead become a modern day hunter gatherer and carry a pack and cross bow? Just wander the more temperate forests…. eating the game you kill and eating wild…

      Sounds infinitely more doable and far more interesting than being stuck at a shack in the woods trying to keep the varmints and the hordes out… why make yourself a target?

      Just disappear into the forest?

      Of course there are still those pesky spent fuel ponds – it amazes me that the doomie preppers just ignore those… as if they don’t exist… hahaha …that’s cognitive dissonance protecting them from despair…

      All that time and money and effort wasted on the doomie prep — down the drain … when the first cloud of invisible radiation … falls on the cabbages hehehe

      • banned says:

        Eddy many people informed you to quit messing around with that DC pump. There are several reasons why DC pumps are less reliable. First and formost is that most electronics are made for AC off the grid and are mature in their reliability development. Not sure where a “motherboard” fits in on a modern submersible analog well pump.

        Your abandonment of PV is a classic example of income. You are upper income class. You dont care what the juice costs. You made a uniformed decision in your component selection and went back to grid. Cant be bothered everything is done with money and yo got lots Money is traded for the magic out of the wall.

        Lower income has no free money for PV investment although it would serve them best as its a free money jar. Often though if rural they are forced to PV because they cant afford land anywhere near the grid.

        Upper middle class is the majority PV buyer. That PV is a free money jar is still attractive to them as is the “green” label. Because PV is a free money jar they are often duped into poor decisions like a lot of “green” scams.

        There are basically four active electronic components on a PV system.

        PV panels. Surprisingly robust. They fade with time. 20 year life.

        Batteries

        Charge controller. Takes the current source power off the PV panels converts it to voltage source and charges batteries. Probably the component with lowest reliability. Lots of DC switching and DC is very hard on switches.

        Inverter. Changes DC into AC. Power FET board.

        We have been using PV for sometime. These electronics are mature in their reliability development now.

        As far as the doomsday prepper label. Like most labels it has some truth to it and some inaccuracy when you create boxes. The “motherboard” doesnt last. PV is for “doomsday prepper”. As far as people being willing to use force when order disintegrates yes they are. To some extent having a resource when others do not is indeed a liability. PV panels are not unobtrusive. Right now if informed decisions are made PV is a free money jar. there are plenty of people that are quite happy making sure that free money goes in their pockets not the end users. To some extent we rely on technology to sustain us. Im at a age where it gets harder. If all my vehicles dies tomorrow I have a very very hard time sourcing food.

        The greater issue is whether we make decisions based on the BAU of now or the perceived near future collapse. While your position is not absolutely clear it seems your belief is their is no use in prepping. I am not apposed to that viewpoint. PV systems are a very useful and financially benefiting thing to have about now in BAU. I like many have no real choice. I cant afford to go on grid. I dont want to. I can afford PV and a vehicle and I am very grateful for that. Nice things. Especially as you get older and physically weaker. Im lower middle class. We buy nice things that sustain our existence. PV is absolutely a nice thing that sustains my existence and is a great hobby to boot. Maintaining it, a working well, a working vehicle are all very high priorities for me. I got my old truck running yesterday it was down for 8 months. Very good news. I cant afford a replacement. Two vehicles running! New to me is not treating my body like a commodity to be consumed. Health maintenance in these times. I had a good run , good genetics, and good luck. Am i complaining? No not at all. Very lucky very good run. No reason not to be extremely pleased and happy. BAU tonight baby!

        • Fast Eddy says:

          You don’t think the hordes will overrun you when they see you have food — and lights?

          https://www.dailymail.co.uk/news/article-10997467/Thousands-protesters-Sri-Lanka-storm-presidents-official-residence.html

          • banned says:

            Well, I Do have a small 48 sq feet neon sign I was planning to power post teowataki that reads “soccer moms welcome” . Do you think it will be a problem?

            • not unless Sarah Palin shows up

              and you’re in her crosshairs

            • banned says:

              It was not so long ago that people interacted without knowing each others political beliefs. I can remember dating for long times without knowing. I have previously been in long relationships where our political beliefs were different. It came up maybe once a year. Whatever. No anger. No rants. We just didnt care that much. We were interested in other qualities. Actions. Spirit. And yes physical attraction.

              As our intrepid resident political officer is so keen to correct me no discussions are allowed now without the overlap of the red clown blue clown war. Actions should not be analyzed without blue clown red clown war overlap. In fact NOTHING should be judged without blue clown red clown war overlap not even scientific topics. Simply not acceptable. The greatest sin is not applying the blue clown red clown war overlap in our judgments not picking a particular side.

              Thus our culture of not x. What are you? Not X.

            • banned

              you have to constantly be aware that our resident political officer ( i like that) is fixated on adult diapers, blow up dolls, and ‘scoring’.

              make what you will of that

            • Fast Eddy says:

              What else is there when norm won’t answer even the most basic questions

            • i rest my case.

              (As Count von Staffenberg said when he tried to assassinate Hit ler)

            • f says:

              And the award for … goes to .. norm!

              norm how do you feel about beating out your good mate mike?

            • don’t think i quite follow you there f

              but Friday is always my day off from clever

    • Fast Eddy says:

      JK admits his mistake — most others just double down

      He should just hook back up to the grid and get on with it… repairing this is a total waste of time

  33. Student says:

    “Italy. Vax Hubs will open again. Fourth dose for people over 60.”

    As it is not working, let’s insist.

    https://www.ilgazzettino.it/nordest/pordenone/covid_quarta_dose_over_60-6804867.html

  34. neil says:

    Good presentation

    https://www.zerohedge.com/economics/why-one-chart-shows-economic-collapse-inevitable

    I think without a rapid rollout of nuclear, or we hit the jackpot with nuclear fusion, the next couple of decades will just be slow motion collapse

    • Rodster says:

      Yeah, I posted a link to that several pages back. It’s a really good explanation by Chris Martenson.

      • I1 says:

        The comments were predictively derisive, though less so had it been a climate change screed for which libertarian vitrol knows no bounds.

        Interestingly, with both topics, the veracity of the underlying underlying premis matters less than the policy decisions implemented based thereupon.

        So for example, should the “Resiliency Czarina” for the State of Florida commission a study which finds that both the insurance and mortgage underwriting business for waterfront homes may be non-existent within two decades, and you hold title to some of those “prime assets”, sticking your head in the sand and shouting about commies may in fact be counter productive.

      • Fast Eddy says:

        Anthony Robbins of energy 🙂

      • Fast Eddy says:

        I struggle to get to the end of that … as if the energy secretary does not know how much oil the US burns per day…

        There is some useful info on there for a person who is completely ignorant of the energy story … but Martenson is either delusional, stooopid, or purposely misleading people for the purpose of selling them his ridiculous survival kit.

    • Herbie Ficklestein says:

      What has Nuclear Fusion ever done for me? OK Boomer!

      Like Gail points out all the time..we need something NOW

  35. Student says:

    “Gas: cold homes and curfews, shocking Italian plan ready for winter.
    With dwindling supplies from Russia, Italy is preparing to decree extraordinary measures on heating, lighting and public offices.”

    https://quifinanza.it/economia/stop-gas-case-fredde-e-coprifuoco-pronto-il-piano-shock-per-inverno/656393/

    • Student says:

      The Italian Government will be launching soon TV commercials to educate people to consume less resources (mainly gas and water)

      https://www.iltempo.it/attualita/2022/07/11/news/gas-russo-gazprom-fornitura-italia-eni-vladimir-putin-spot-risparmio-ministro-cingolani-germania-nord-stream1-32358569/

      • Herbie Ficklestein says:

        “We are currently discussing with other ministries a rapid information project, such as ‘Advertising and progress’, on two large sectors: one is water, the other is energy. Among other things, the two sectors They talk to each other because they are very connected. We are planning to build a series of messages that give suggestions of behavior and sobriety in the use of resources “, said the Minister of Ecological Transition, Roberto Cingolani, speaking at the Enea webinar on energy saving in homes. . “It will be essential – added the minister – to launch these messages shortly, given that after the summer break the period in which consumption increases will begin”.

        EAT …BAD….HUNGRY… GOOD 👍…

        Works for me

    • I notice that the Atlanta Journal Constitution has a front-page article today called, “Ga. among leading states in gas leaks”

      The call out at the top of the article says:

      Expert: Safety efforts should focus on most critical leaks; US should move on from gas

      When a person reads the article, they discover on the front page that Georgia had 59 gas leaks between 2010 and October 2021 reported to the federal government that caused injuries, deaths or extensive property damage.

      If we read further in the article, we find,

      Despite ranking in the top 10, the number of leaks was modest compared to those of other states. Texas reported 287, followed by California with 229 since 2010.

      Later, the story says

      A study published in 2019 estimated that a transition to all renewable energy sources could costs $7.8 trillion in the Unite States, adding that the ensuing electricity and heat sales would cover that cost. In contrast, a Deloitte report published in January found that “insufficient action” on climate change would cost the US economy $14.5 trillion over the next 50 years.

      • MM says:

        Gas plant fires ? Safety problems with people out of their minds ?

        • Kowalainen says:

          Yep, the ‘Normals’ seem a bit rabid (rabies) and on the edge these days. Gotta cut out my silly jokes and lighthearted absurdities.

          I guess the ‘hot sauce’ jab is doing its “job”.
          🤔

          • MM says:

            The people that got the vaxx threw their will to stay alife out of their windows (head) and as the life preserving force is no longer present evaluation for dangerous situations is no longer available on their cognitive menu.

  36. neil says:

    Planning for rolling blackouts in the UK

    https://www.theguardian.com/business/2022/jul/10/how-to-keep-the-lights-on-uk-gears-up-for-worst-case-energy-scenarios

    I’ve said before, we are seeing the Lebanonisation of the world economy

    • The story, of course, is that this is a temporary problem, related to the Russia’s invasion of Ukraine.

      I thought this solution was laughable:

      ” The International Energy Agency said in March that Europeans should turn down their thermostats by 1C to save on gas and reduce dependency on Russian imports.”

      Maybe it will do a bit, but it won’t fix the problem.

      • MM says:

        Bill Gates: “I will have my pivate jet flown at a 1000 feet lesser altitude in solidarity”

        • thats like saying the lesser spotted eddywit will hover 4ft off the ground instead of 3

          less efficient and less focussed that way

        • rufustiresias999 says:

          In fact, the jet should fly higher. Less air density, less drag, less fuel consumption. Jets already fly at the most efficient altitude, most efficient route. To minimise costs. No margin.

      • Fast Eddy says:

        Well that’s a relief… for a moment I was wondering if this might be the dreaded ‘peak oil moment’…

        Let’s turn down the heat a little bit … drive a little less.. and support Mr Z — he is a hero! Down with Putin!

        Have we ever seen such a massive PR push to support a coke snorting loser – ever? There’s a equally big reason for that… it’s called Desperate Times — it is ultra important that the hordes be convinced this is ‘temporary’

    • Jon F says:

      Back in January, my one and only prediction for 2022….we would see the rehabilitation of coal….heading into the autumn I will not be surprised to see articles talking about “green coal”….or some bs along the lines of: “scientists have figured out a way to burn coal, which makes it better for the environment than burning natural gas”….the lights stay on!

      Who knows?

      • Herbie Ficklestein says:

        Hope Greta is the spokesperson for Green Coal…
        We found a way so it does not exhale!

  37. Fast Eddy says:

    It was a different story in Wellington, where hospitality business owner Maura Rigby described the first holiday weekend as quieter than usual.

    “We did notice a bit of a slow down from Thursday onwards… We weren’t expecting it over this weekend, we were expecting to be gearing up for the holidays and an ordinary, busy weekend so it did surprise us a little bit,” she explained.

    The jump in cases and bad weather might have been factors, she said.

    Rigby co-owns cafes Nolita and Beach Babylon along with bar Little Beer Quarter.

    She also said staff illness was a big concern, especially with some now catching the virus for a second time.

    https://www.odt.co.nz/regions/queenstown/resort-under-pressure-tourists-flock-back

    A second time…. (VAIDS)

  38. Fast Eddy says:

    And here we have a video of hunter bidet purchasing crystal meth https://t.me/TommyRobinsonNews/37342

    • Herbie Ficklestein says:

      Thank you, Edwin, perhaps his supplier has CIA connections..
      the Michael Ruppert confrontation with CIA Director, who later resigned

      https://m.youtube.com/watch?v=sDtv6c631Ww&t=278s

      So, Hunter is well supplied

      • All of this stuff seems very strange. We know that videos can be faked, but Hunter Biden seems to somehow lead to a steady stream of what I would expect to be terribly embarrassing videos for Joe Biden.

        • Herbie Ficklestein says:

          I know a Navy veteran and he confirmed Hunter has a dependence issue..

          Ask PolitiFact: Why did Hunter Biden leave the Navy?
          DEBATES DRUGS

          By Noah Y. Kim
          October 1, 2020
          IF YOUR TIME IS SHORT
          Hunter Biden has said he received an administrative discharge after he tested positive for cocaine.

          A “dishonorable discharge” is reserved for service members who have engaged in what the military considers the most reprehensible conduct. It is handed down following coviction by court-martial for a serious offenses like desertion, sexual assault, or murder.
          In one of the most contentious exchanges of the first 2020 presidential debate, President Donald Trump interrupted Democratic presidential nominee Joe Biden as he spoke of his son Beau, who served in Iraq and died of brain cancer in 2015.

          “I don’t know Beau. I know Hunter,” Trump interjected, before invoking Hunter Biden’s issues with substance abuse. “Hunter got thrown out of the military. He was thrown out, dishonorably discharged for cocaine use.”

          “That’s not true,” said Biden. “He wasn’t dishonorably discharged.”

          The exchange confused some of our readers, who were wondering which of the two candidates to believe. “I was hoping to see something about whether Biden’s son received a dishonorable discharge from the military,” one reader emailed us. “They said opposite things, and it maligned someone’s reputation, perhaps unjustly.”

          Hunter Biden was pushed out of the military after testing positive for cocaine. The best reporting into the circumstances of that discharge indicate that his discharge was administrative, however, not dishonorable. Biden was 44 at the time and serving in the U.S. Naval Reserve.

          The Navy doesn’t release the discharge status of low ranking officers.

          Hunter Biden revealed in a 2014 statement to the Wall Street Journal that he had been administratively discharged, saying it was “the honor of my life to serve in the U.S. Navy, and I deeply regret and am embarrassed that my actions led to my administrative discharge.”

          But that doesn’t mean …he still is

        • Fast Eddy says:

          It is was fake the Daily Mail would be embroiled in some very costly settlements about now …

          The Bidet’s are not even bothering to dispute this stuff.

    • just what is your cut on all this clickbait eddy?

    • Rodster says:

      The funny part is that the Media, won’t investigate, because you know wink-wink it’s the Senators son.

  39. Fast Eddy says:

    mike… this is happening in Canada as well… they just stop publishing data hahaha…

    And does anyone make a fuss? Nope… cuz? Well cuz they are MOREONS hahahaha they have no capacity for critical thought… so even if you tell them the data is being stopped – they just go on munching grass… or heading to the pie shop .

    I noticed RNZ deleted their graphs showing the vaccination status of cases and hospitalisations. I’ve been following those graphs for the past couple of months, calculating the percentage of total hospitalisations that were unvaccinated. While the way they shared their data was already problematic (they were sharing from August or September 2021, since before mandates), they were still showing a consistent and steady decline in any sort of efficacy from the vaccination against hospitalisation.

    On April 5th, when I started calculating from their data, 20% of all hospitalisations were in people that were not vaccinated (this includes people vaccinated outside of their ‘efficacy’ window). By July 7th, the last time I calculated the percentage, this was down to 12.1%. On July 10th, when I went back to their website, they’d removed all their graphs showing the vaccination status of cases and hospitalisation. They must have made sure they pulled it off before it got to the point where it matched the percentage of people that hadn’t been vaccinated at all, showing that their vaccines do diddly squat. How embarrassing. I saw VFF noticed it too.

  40. Fast Eddy says:

    Fast and Furious

    Who is ready for subvariants? Shanghai says they have identified a new Omicron subvariant BA.5.2.1

    Is it just me or are these starting to sound like software updates?

    https://www.reuters.com/world/china/chinas-shanghai-says-new-omicron-subvariant-found-2022-07-10/

    • MM says:

      You know how these things work with the stuff from Bill Gates:
      A patch here and a patch there until the entire system breaks down.
      Not a big deal, use Linux, OFW edition!

    • All of these researchers need something to do. The virus keeps circulating and mutating. Lots of fuel for future concerns.

  41. Fast Eddy says:

    hahahahaa https://t.me/DowdEdward/748

    Eva Vlaardingerbroek Says if Farmers Lose Their Land Food Shortages Will Follow

    “They are basically saying this is what is going to happen if you take our land away. We’re going to have food shortages. Because already right now in the Dutch supermarkets a lot of the shelves are empty.”

    https://rumble.com/v1bqyol-eva-vlaardingerbroek-says-if-farmers-lose-their-land-food-shortages-will-fo.html

    Actually… Holodomor will follow — and She is HOT HOT HOT!!!

  42. Fast Eddy says:

    Deep vein thrombosis? Blood clots…apparently it’s coffee! My lord they are desperate.

    https://www.express.co.uk/life-style/health/1636636/blood-clots-deep-vein-thrombosis-symptoms-signs-sticky-blood-risk-factors-diet-tea

  43. Fast Eddy says:

    https://justthenews.com/government/white-house/hhs-secretary-theres-strong-chance-well-see-resurgence-covid-19-fall-new

    @DowdEdward

    Just The News (https://justthenews.com/government/white-house/hhs-secretary-theres-strong-chance-well-see-resurgence-covid-19-fall-new)
    HHS Secretary warns of ‘strong chance we’ll see a resurgence’ of COVID-19 in fall, new variants
    Asked if the Office of Refugee Resettlement is overwhelmed with record border arrivals, Xavier Becerra said children aren’t dying

    • The short interview clip doesn’t say the same thing as the article. The interview in the video talks about resources needed up the fight against COVID. The HHS secretary says, “At the end of the day, we need more fuel.”

      The HHS Secretary doesn’t say directly that COVID cases will be higher; it is that the HHS secretary wants more funds to afford more fuel, so it can maintain its vaccine and medicine purchases (or something close to that).

  44. Fast Eddy says:

    Crypto lender and broker Voyager Digital, which also took deposits and offered yield products with huge interest rates of up to 12%, said in a series of tweets today that it is, “actively pursuing a series of strategic alternatives” and that it is “focused on protecting assets and maximizing value for all customers as quickly as possible.” That’s horrifying language for people who have their cryptos on deposit at Voyager and now cannot get their cryptos or anything else out.

    What’s different this time about the collapse of cryptos, compared to last time in 2018, are two huge factors that were barely in their infancy back then: massive leverage and interconnectedness.

    All these crypto firms lent to each other and borrowed from each other in cryptos, to speculate in cryptos with borrowed cryptos, and they lent out borrowed cryptos, and they posted cryptos as collateral with each other for more leverage, which is now triggering margin calls, forced selling, and wipeouts cascading through the space. This interconnectedness created huge systemic risks within the crypto space that are now coming home to roost.

    On Friday, Voyager Digital had suspended trading and withdrawals. In other words, depositors cannot get their cryptos and collateral out. And they cannot get any fiat out either.

    https://wolfstreet.com/2022/07/09/leverage-interconnectedness-are-blowing-up-crypto-defi/

    • MM says:

      The crypto space has just mutated to an unregulated shark tank as has the banking sector in 2008. Unfortunately the crypto-space will not be bailed out so we will be able to see what would have happened if “we” let them banks fail that time.

    • It sounds like the end of today’s cryptocurrency market is not far away. I suppose quite a few people will lose purchasing power.

      • Fast Eddy says:

        Now we can see how the ponze works… you loan me your cryptos and I loan you mine and on and on and on .. and we pump and hump and pump each other…. creating hype… and FOMO… and the mules mortgage their homes and join in the or.gy… we cash out on their backs… and if the market dares to dip we start borrowing and humping and pumping all over again…

        It does appear the scam is about to end… I wonder what is delaying this from crashing to 0?

        You’d think everyone – including the mules — would be desperately trying to exit the market (except the really stooopid mules who are seeing this as an opportunity.. cuz going to 500k huh)…. and only a handful of the funds are freezing them out.

        Would that alone not convince others to get out asap — cuz their holdings might be next to be locked in?

  45. Fast Eddy says:

    There are those who actually believe this hahaha

    The old world of pre-2020 is gone and it’s never coming back. We are now in a historic transition period. This means there’s a lot of danger to both your health and wealth.

    Sociopaths from Washington to Brussels to Davos to Beijing are dreaming of an authoritarian “New World Order”. They want to turn you into a mind-controlled, bug-eating slave that owns nothing. Guess what?

    This future is also not going to happen. The entire system will get flushed and the old guard with it.

    The scamdemic with the push for a “Great Reset” has done a lot of damage but overall, it failed to bring about this “New World Order”.

    That’s why now, the new psyops is war in Europe. How this will play out is uncertain, but one thing is for sure. It will put even more pressure on the old system and force change.

    Existing regimes almost never survive major periods of upheaval. And what lies ahead is a period where absolutely everything is going to change.

    We are entering a new social order. Many of the old puppet masters are octogenarians.
    Klaus Schwab is 84. Henry Kissinger is 98. Joe Biden is 79. Nancy Pelosi is 82.
    The list goes on.

    The wheels of history keep turning. Power is slowly shifting towards digital-native millennials. The legacy financial system is about to expire. The debt supercycle is coming to an end. Fiat currencies are entering a death spiral. This will be a golden age for hard assets. Decentralized technology is eating the world and the Blockchain Ecosystem is rising.

    This has many implications…

    After the initial chaos subsides and crypto hits mass adoption, we’ll see a Second Renaissance. The crypto revolution is your ticket to a prosperous future.

    If you get positioned now, before it becomes the new standard. Immense fortunes will be made by a few.

    Will you be one of them?

    Start here: 👇👇
    https://bit.ly/Crypto_QL
    https://bit.ly/Crypto_QL

    • MM says:

      You mean decentralized as in sitting at home and beeing fed hog food from here?

    • “This will be a golden age for hard assets.”

      Not unless the hard assets are good for something. If the system as a whole isn’t working, there is a real problem.

      It is unlikely you can trade one hard asset (a house or a car, for example) for food to eat. It is food, water, and easily/cheaply burned fuel that is required.

      • banned says:

        Exactly! People myself included are unable to conceive of a world without money. Just because money loses value doesnt mean their will be a replacement.

        When Louis and Clark went west all the tribes went crazy over the blue trade beads. They didnt want any other color. When L&C ran out of blue beads they were SOL. Other colors. Meh.

      • Fast Eddy says:

        When VAIDS wipes out 90% of Queenstown I will go to the airport and claim all the private jets … but unfortunately they will be of zero value.

  46. another blank page eddy

    please try harder

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