“The energy crisis, a Lehman Brothers crisis! » Charles SANNAT’s editorial

My dear impertinents, dear impertinents,

“The rise in gas prices and interventions by various governments to support energy companies could trigger an unprecedented crisis in the European energy sector, similar to what happened to Lehman Brothers in 2008.

Finnish Finance Minister Mika Lintila and German Economics Minister Robert Habeck gave gloomy predictions for European industry, after the two countries gave tens of billions of euros in aid to energy companies in their individual countries.

In fact, more and more European states are rushing to the rescue by offering financing through guarantees or lines of credit to avoid the failure of energy players who are forced to buy gas and other energy goods in unsustainable prices’. So says this Reuters dispatch reported on the Investing site here

Electricity bills cannot be paid by all players in the economy, whether households or businesses of course.

For financial analysts, the risk is at the level of energy sources, and even more so that the European Commission is seriously considering suspending them.

Better hurry before it blows up in our face and destroys the entire financial sector and therefore banking.

“A risk, that of margin calls, which, according to Norwegian Equinor, amounts to 1,500 billion dollars in European energy trading, and which requires “strong liquidity support”, as said Helge Haugane, Equinor senior vice president for gas and power. , in an interview.

While we are collapsing under the problems to be solved, Russia, it collected 158 billion euros from the sale of its gas.

Great result of the sanctions against Russia or the story of the flooded sprinkler.

I am not telling you that in Russia everything is fine, but Russians will be warm this winter even though their country is cold, instead of driving Renault cars, they are driving Chinese cars that come in trains. Instead of having Apple phones that come from China, they have Chinese copies. It could be worse, but as Macron said, you have to know how to pay the price of war, right?

No one will dare to tell you this, but at the moment the cost of the war against Russia is greater financially for Western Europe than for Russia itself.

It’s not fun, and they’ll find some idiots calling me “pro-Russian”, so good for them.

The truth is that we are the turkeys of the joke and if we really want to win this war, we have to do it differently, because we are not winning. We are weak economically, financially.

I told you otherwise. We have lost the war economically, and militarily we will never regain Crimea except at the cost of a nuclear World War III that no one wants.

So let’s stop the useless and martial chin movements.

The new British Prime Minister Truss recently ordered a freeze on English energy bills before ending up on the Thames costing the country’s finances 130 billion pounds.

Hahahahaha.

I still laugh at it.

The 130 billion is small as the State pays 130 billion euros to France while the total budget of our country is 380 billion euros every year!

Hahahahaha.

Are you experiencing any of the costs of Covid?

You will have the same energy, because there is no choice.

At the European level, it will cost us at least 2 to 3,000 billion euros for all countries and derivatives and to save the financial system and prevent it from blowing up in our face.

We are led by dummies, who can only oblige us and force us to suffer hardships.

Consider your stocks of commodities that are inexpensive and energy efficient. For example this is the case of toilet paper (we are heading for a new PQ war, so it can quickly turn into shit), and all the products sold in glass jars for example.

It’s too late, but all is not lost.

Prepare yourselves!

Charles SANNAT

“Insolentiae” means “indolence” in Latin
To write me charles@insolentiae.com
To write to my wife helene@insolentiae.com

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