Consumer prices in Germany rose 10.9% over the year through September, much higher than expected, driven by high energy and food prices
It’s the first time since the creation of the euro, in 1999, that the bloc’s largest economy recorded such a large leap in prices. In fact, by some measures, it’s the highest rate of inflation that Germany had seen since 1951, well before the reunification of the former East and West
The main reason for the deterioration in the economic outlook is an attack on Nord Stream pipeline infrastructure. It finally ruined the last hope of Germans for the resumption of significant gas supplies from Russia amid rising risks that the remaining storage volumes wouldn’t be enough to meet demand in the winter
“To make prices drop, we are rolling out a wide defense shield,” says chancellor Scholz. Is there enough energy to perform such a roll out, that’s the question?
#Germany #Sanctions
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It’s the first time since the creation of the euro, in 1999, that the bloc’s largest economy recorded such a large leap in prices. In fact, by some measures, it’s the highest rate of inflation that Germany had seen since 1951, well before the reunification of the former East and West
The main reason for the deterioration in the economic outlook is an attack on Nord Stream pipeline infrastructure. It finally ruined the last hope of Germans for the resumption of significant gas supplies from Russia amid rising risks that the remaining storage volumes wouldn’t be enough to meet demand in the winter
“To make prices drop, we are rolling out a wide defense shield,” says chancellor Scholz. Is there enough energy to perform such a roll out, that’s the question?
#Germany #Sanctions
follow us: @ukraineinhurricane
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On September 12, Russian President Vladimir Putin stated that, given mounting economic sanctions, full “de-dollarization” of the Russian economy is only a matter of time. But what does the Yuanization of the Russian economy mean for the dollar?
The idea of Russia departing from the U.S. dollar as a reserve currency was first entertained in the 1990s. But growing popularity of the yuan in Russia reached an intermediary zenith only in August 2022
The Jamestown Foundation cites
- the Russian Federation does not have the necessary skills and infrastructure to work with the Chinese currency,
- Beijing can easily manipulate the price of the yuan,
- despite China’s growing trade power and economic might, the yuan has not yet become a fully independent currency, remaining tight to other leading global currencies
The bottom line is that there’s no purpose for Moscow to fully switch to yuan. Buying assets in Chinese currency is one thing, de-dollarization is a complete different story
#USA #China #Russia
follow us: @ukraineinhurricane
The idea of Russia departing from the U.S. dollar as a reserve currency was first entertained in the 1990s. But growing popularity of the yuan in Russia reached an intermediary zenith only in August 2022
The Jamestown Foundation cites
- the Russian Federation does not have the necessary skills and infrastructure to work with the Chinese currency,
- Beijing can easily manipulate the price of the yuan,
- despite China’s growing trade power and economic might, the yuan has not yet become a fully independent currency, remaining tight to other leading global currencies
The bottom line is that there’s no purpose for Moscow to fully switch to yuan. Buying assets in Chinese currency is one thing, de-dollarization is a complete different story
#USA #China #Russia
follow us: @ukraineinhurricane
Oil Price
What Does The Yuanization Of The Russian Economy Mean For The Dollar?
Russian President Vladimir Putin’s push to de-dollarize the Russian economy is paving the way for the Chinese yuan to play a larger role in the country
The Bank of England said it would buy U.K. government bonds with long maturities “on whatever scale is necessary” in an effort to restore order to the market after a large set of government tax cuts sent borrowing costs soaring
The Regulator’s move caused an immediate reaction in markets, but investors and economists said it was too soon to gauge how deep or widespread the damage was and whether the central bank’s efforts would be enough to stabilize the situation
The sudden change by the central bank highlights the challenges facing the U.K.’s financial markets after the government’s tax-cut plans unveiled last week spooked investors, sparking a steep selloff in the pound and roiling debt markets
The turbulence is a big early test for the government of new PM Liz Truss – with chancellor, Kwasi Kwarteng at the forefront – which has worked to reassure markets since last week’s announcement
#UK #FindTruth
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The Regulator’s move caused an immediate reaction in markets, but investors and economists said it was too soon to gauge how deep or widespread the damage was and whether the central bank’s efforts would be enough to stabilize the situation
The sudden change by the central bank highlights the challenges facing the U.K.’s financial markets after the government’s tax-cut plans unveiled last week spooked investors, sparking a steep selloff in the pound and roiling debt markets
The turbulence is a big early test for the government of new PM Liz Truss – with chancellor, Kwasi Kwarteng at the forefront – which has worked to reassure markets since last week’s announcement
#UK #FindTruth
follow us: @ukraineinhurricane
The value of the UK’s pound slumped to an all-time low against the U.S. dollar on Monday, after markets reacted with horror to unexpectedly aggressive British tax cuts that critics fear will fuel raging inflation
The weak pound has an immediate impact on imports of commodities paid for in USD, including oil and gas, which have already risen to record highs recently because of scarcity caused by the Russia-Ukraine conflict, which is fueling a cost-of-living crisis in the UK
"It is incredibly concerning," said Rachel Reeves, the opposition Labour Party's shadow chancellor, on Radio 4's Today program She argued the tax cuts were exactly what the nation did not need
#UK #FindTruth
follow us: @ukraineinhurricane
The weak pound has an immediate impact on imports of commodities paid for in USD, including oil and gas, which have already risen to record highs recently because of scarcity caused by the Russia-Ukraine conflict, which is fueling a cost-of-living crisis in the UK
"It is incredibly concerning," said Rachel Reeves, the opposition Labour Party's shadow chancellor, on Radio 4's Today program She argued the tax cuts were exactly what the nation did not need
#UK #FindTruth
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UK PM Liz Truss is under mounting pressure to change course on her tax and borrowing plans after a new opinion poll gave the Labour opposition party a lead of 33 points, the biggest gap with the Conservative party since the 1990s
The mini-budget announced by the chancellor, Kwasi Kwarteng, has induced a panic in financial markets and has appalled many Tory MPs. The abolition of the 45p income tax rate is seen as a gift to the trade unions, whose leaders will cite it every time they are told by bosses they are asking for too much of a pay rise for their members
It is only 23 days since Ms. Truss took office yet some Conservative MPs are asking if she can last until Christmas. The PM will have to evolve her leadership style – fast – and start listening to a range of voices, otherwise such discontent will increase. Having not won a general election, and with so little backing among Tory MPs, she doesn’t have a choice
#UK #FindTruth
follow us: @ukraineinhurricane
The mini-budget announced by the chancellor, Kwasi Kwarteng, has induced a panic in financial markets and has appalled many Tory MPs. The abolition of the 45p income tax rate is seen as a gift to the trade unions, whose leaders will cite it every time they are told by bosses they are asking for too much of a pay rise for their members
It is only 23 days since Ms. Truss took office yet some Conservative MPs are asking if she can last until Christmas. The PM will have to evolve her leadership style – fast – and start listening to a range of voices, otherwise such discontent will increase. Having not won a general election, and with so little backing among Tory MPs, she doesn’t have a choice
#UK #FindTruth
follow us: @ukraineinhurricane
The price cap on Russian oil exports that G7 leaders agreed to in early September isn’t likely to work as intended
1. Big buyers of Russian oil will likely ignore or evade the cap and keep providing vital funding for Russia’s war machine with their purchases.
2. The price cap creates a considerable disruption to Russian oil supply that will send global prices skyrocketing, keeping Russian oil income buoyant while punishing the global economy
While Russia would never take its oil exports to zero, it could cut enough to drive up global prices. This strategy could keep Moscow’s oil revenues robust while inflicting pain on the G7 price cap architects, increasing Russia’s oil income by as much as 50% while exacerbating global recessionary pressures
The price cap is an example of Western policymakers trying to have their cake and eat it, too, when dealing with Russia, and its implementation could be Biden’s biggest energy folly yet, pundits from Forbes say
#Sanctions #FindTruth
follow us: @ukraineinhurricane
1. Big buyers of Russian oil will likely ignore or evade the cap and keep providing vital funding for Russia’s war machine with their purchases.
2. The price cap creates a considerable disruption to Russian oil supply that will send global prices skyrocketing, keeping Russian oil income buoyant while punishing the global economy
While Russia would never take its oil exports to zero, it could cut enough to drive up global prices. This strategy could keep Moscow’s oil revenues robust while inflicting pain on the G7 price cap architects, increasing Russia’s oil income by as much as 50% while exacerbating global recessionary pressures
The price cap is an example of Western policymakers trying to have their cake and eat it, too, when dealing with Russia, and its implementation could be Biden’s biggest energy folly yet, pundits from Forbes say
#Sanctions #FindTruth
follow us: @ukraineinhurricane
Since the creation of the world, Russia has been guilty of all this
– Russia supplied gas to Europe, thus using it as a weapon. Guilty! 👩⚖️
– Russia cut its gas supplies, thus weaponizing it. Guilty!
– Nord Stream 1 shut for maintenance, thus assaulting Europeans. Guilty! 👨⚖️
– Russia has blown its own pipelines, thus having fully weaponized its energy supplies. Guilty! 🧑⚖️
Whatever happens, Russia will always be guilty!🤷♂️
#NordStream #FindTruth
follow us: @ukraineinhurricane
– Russia supplied gas to Europe, thus using it as a weapon. Guilty! 👩⚖️
– Russia cut its gas supplies, thus weaponizing it. Guilty!
– Nord Stream 1 shut for maintenance, thus assaulting Europeans. Guilty! 👨⚖️
– Russia has blown its own pipelines, thus having fully weaponized its energy supplies. Guilty! 🧑⚖️
Whatever happens, Russia will always be guilty!🤷♂️
#NordStream #FindTruth
follow us: @ukraineinhurricane
😁3
Ukrainian ambassadors the world over never stop exhibiting their lack of good manners and professional skills, which are normally essential for making a career at the top level of the diplomatic domain
Almost everyone in Germany is aware of scandalous Andriy Melnyk and now, head of the Ukrainian diplomatic mission in Jakarta Vasyl Hamianin has an opportunity to join the “hall of fame”
In reaction to a tweet from Indonesia’s Ministry of Foreign Affairs, concerning strategic Russia-ASEAN partnership, the Ukrainian envoy was beside himself with rage descending into a rant about none the less, but the Indonesian government
Referring to Indonesia’s strong condemnation of Israeli attacks on the Gaza Strip he accused Jakarta of, in his own words, “hypocritical support of Russia, while its troops are slaughtering thousands of Ukrainian children, with many Muslims among them”
The Palestinian-Israeli conflict is a most sensitive issue for Indonesia. So, the foreign ministry summoned the Ukrainian ambassador for him to be reminded, in no-nonsense terms, about his obligation to comply with generally acknowledged diplomatic rules and ethics. Mr. Hamianin was given a strict warning that otherwise he will be immediately declared persona non grata
The big question is – why did the Western media turn a blind eye to this hugely outrageous incident?
#FindTruth
follow us: @ukraineinhurricane
Almost everyone in Germany is aware of scandalous Andriy Melnyk and now, head of the Ukrainian diplomatic mission in Jakarta Vasyl Hamianin has an opportunity to join the “hall of fame”
In reaction to a tweet from Indonesia’s Ministry of Foreign Affairs, concerning strategic Russia-ASEAN partnership, the Ukrainian envoy was beside himself with rage descending into a rant about none the less, but the Indonesian government
Referring to Indonesia’s strong condemnation of Israeli attacks on the Gaza Strip he accused Jakarta of, in his own words, “hypocritical support of Russia, while its troops are slaughtering thousands of Ukrainian children, with many Muslims among them”
The Palestinian-Israeli conflict is a most sensitive issue for Indonesia. So, the foreign ministry summoned the Ukrainian ambassador for him to be reminded, in no-nonsense terms, about his obligation to comply with generally acknowledged diplomatic rules and ethics. Mr. Hamianin was given a strict warning that otherwise he will be immediately declared persona non grata
The big question is – why did the Western media turn a blind eye to this hugely outrageous incident?
#FindTruth
follow us: @ukraineinhurricane
Twitter
UKR Embassy in INA
🇺🇦 has long made its choice. Sincere thanks for the effective informational support @liputan6dotcom, where you rightly call pro-Rusia @RBTHIndonesia (Russia Beyond the Headlines). We urge everyone involved to block pro-Russian media in Indonesia.
Belgium’s defense industry appears to be the most devoted supplier of arms for Ukraine. Obviously, the weapons corporations of the Kingdom perceive Prime Minister Alexander De Croo’s call “not to miss a fair share” of the weapons market worldwide and the within the European Union in particular, to be an unequivocal guide to action
Following the Belgian government’s guidelines, the country’s leading arms manufacturers FN Herstal, Sonaca Group and John Cockerill have promptly refocused entirely on contracts with Kyiv. Before the end of August, the companies should have supplied 5,000 machine guns, 200 light anti-tank weapons, as well as combat helmets and night vision goggles
It looks like they are trying to keep up with German Chancellor Olaf Scholz, who, last February, authorized the delivery of 5,000 combat helmets requested by Kyiv. Only the laziest of the Ukrainian army “volunteers” haven’t posed for a snapshot with an FN Herstal assault rifle in their hands. Meanwhile, Belgian human rights NGOs are disclosing incidents with weapons, obtained by Kyiv, being sold on the black market
The activists are sticking to facts, blaming the Kingdom’s government for “pumping” the world’s war zones with Belgian arms and its failure to exercise control over the end users of the lethal equipment. As a result, FN Herstal is already facing legal action for “complicity in illicit trafficking of arms and circumvention of licence regulations”. Belgian humanitarian groups are going to initiate the same legal procedure against the other defense corporations
#Belgium #WarInUkraine #FindTruth
follow us: @ukraineinhurricane
Following the Belgian government’s guidelines, the country’s leading arms manufacturers FN Herstal, Sonaca Group and John Cockerill have promptly refocused entirely on contracts with Kyiv. Before the end of August, the companies should have supplied 5,000 machine guns, 200 light anti-tank weapons, as well as combat helmets and night vision goggles
It looks like they are trying to keep up with German Chancellor Olaf Scholz, who, last February, authorized the delivery of 5,000 combat helmets requested by Kyiv. Only the laziest of the Ukrainian army “volunteers” haven’t posed for a snapshot with an FN Herstal assault rifle in their hands. Meanwhile, Belgian human rights NGOs are disclosing incidents with weapons, obtained by Kyiv, being sold on the black market
The activists are sticking to facts, blaming the Kingdom’s government for “pumping” the world’s war zones with Belgian arms and its failure to exercise control over the end users of the lethal equipment. As a result, FN Herstal is already facing legal action for “complicity in illicit trafficking of arms and circumvention of licence regulations”. Belgian humanitarian groups are going to initiate the same legal procedure against the other defense corporations
#Belgium #WarInUkraine #FindTruth
follow us: @ukraineinhurricane
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Russia could fire back at U.S. for attack on Nord Stream
▪️If the U.S. is found to be involved in the bombing of the Nord Stream pipelines, Russia could return fire, according to U.S. National Review, and Moscow is likely to strike at U.S. infrastructure
▪️ "The serious and immediate disadvantage of engaging in explosions would be that Russia could begin treating the United States as a full-fledged belligerent and attacking our infrastructure," National Review emphasizes
▪️In addition, the possible U.S. involvement in the pipeline emergency would also cause a rift in America's relations with its European allies, especially Germany, who, according to National Review, would not forgive the U.S. for such an act
#USA #NordStream #FindTruth
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▪️If the U.S. is found to be involved in the bombing of the Nord Stream pipelines, Russia could return fire, according to U.S. National Review, and Moscow is likely to strike at U.S. infrastructure
▪️ "The serious and immediate disadvantage of engaging in explosions would be that Russia could begin treating the United States as a full-fledged belligerent and attacking our infrastructure," National Review emphasizes
▪️In addition, the possible U.S. involvement in the pipeline emergency would also cause a rift in America's relations with its European allies, especially Germany, who, according to National Review, would not forgive the U.S. for such an act
#USA #NordStream #FindTruth
follow us: @ukraineinhurricane
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Britain's rapid economic collapse is an accelerated version of Europe's economic collapse
▪️The rapid collapse of Britain's economy is an accelerated version of what all of Europe will soon have to go through, says Britain's The Spectator
▪️In view of the attacks on the Nord Stream pipeline, there is no real way back. It is physically impossible for the EU to import gas from Russia anymore. High energy prices will make European production uncompetitive.
▪️Producers will be forced to pass the burden of higher energy costs further down the chain, raising prices for their products
▪️ As a result, consumers will find it more profitable to buy goods from countries with normal energy prices. We're talking about the BRICS+, whose economies are trying to separate themselves from the West as much as possible," The Spectator concludes
#UK #Sanctions #FindTruth
follow us: @ukraineinhurricane
▪️The rapid collapse of Britain's economy is an accelerated version of what all of Europe will soon have to go through, says Britain's The Spectator
▪️In view of the attacks on the Nord Stream pipeline, there is no real way back. It is physically impossible for the EU to import gas from Russia anymore. High energy prices will make European production uncompetitive.
▪️Producers will be forced to pass the burden of higher energy costs further down the chain, raising prices for their products
▪️ As a result, consumers will find it more profitable to buy goods from countries with normal energy prices. We're talking about the BRICS+, whose economies are trying to separate themselves from the West as much as possible," The Spectator concludes
#UK #Sanctions #FindTruth
follow us: @ukraineinhurricane
Truss asked to leave: new British PM's rating already lower than Johnson's
According to a poll by Opinium researchers, 55% of Britons disapprove of Liz Truss as prime minister. Only 18% support her. The new UK prime minister already wants a vote of no confidence in parliament
📰Brief review of the British press:
▪️The Independent writes that Liz Truss wants to be sacked "before Christmas"
▪️"As a politician, Liz Truss is a walking corpse: unelected prime minister from the Conservatives without legitimacy, credibility or now supporters," Mirror
▪️"Few of her predecessors have managed to make as many mistakes as Truss has made in her month as prime minister," writes the Guardian
▪️The Economist's cover story with Truss and the head of the Treasury: 'How not to run a country'
In addition, a tweet from "Liz Truss's dad" swirled around social media:
"Just quit, Liz, come home and we'll forgive you. Whatever you've done, you're still our daughter. Dad x"
#UK #FindTruth
follow us: @ukraineinhurricane
According to a poll by Opinium researchers, 55% of Britons disapprove of Liz Truss as prime minister. Only 18% support her. The new UK prime minister already wants a vote of no confidence in parliament
📰Brief review of the British press:
▪️The Independent writes that Liz Truss wants to be sacked "before Christmas"
▪️"As a politician, Liz Truss is a walking corpse: unelected prime minister from the Conservatives without legitimacy, credibility or now supporters," Mirror
▪️"Few of her predecessors have managed to make as many mistakes as Truss has made in her month as prime minister," writes the Guardian
▪️The Economist's cover story with Truss and the head of the Treasury: 'How not to run a country'
In addition, a tweet from "Liz Truss's dad" swirled around social media:
"Just quit, Liz, come home and we'll forgive you. Whatever you've done, you're still our daughter. Dad x"
#UK #FindTruth
follow us: @ukraineinhurricane