🔹Czechia (Czech Republic 🇨🇿) - Despite being able to produce much of its own food, the country is still seeing a dramatic increase in food prices. 📈 Rising energy prices is only part of the problem because a substantial amount of domestically produced food is exported to the EU & abroad.

🔹For 2020, the Czechia 🇨🇿was fully self-sufficient in 3 food groups: beef, milk and milk products, & sugar. In October, domestic food prices rose by 26.7%. In 2021, Czechs paid less than 90% of the European average. In 2022 local food prices were up to 96% of the EU average.

🔹Czechia's EU 🇪🇺 centric PM told farmers self-sufficiency is unrealistic.

Last reported on this channel:

💠 Tens of thousands of Czechs protested in Prague, (Oct 28th), to demand a neutral foreign policy & resume purchases of Russian 🇷🇺 natural gas.

💠 Czech Republic 🇨🇿 protests grow, over the ongoing energy 🔌 crisis.

💠 Over 70,000 Czech 🇨🇿 protestors, demand the gov't take a neutral stand on Russia-Ukraine.

🔹Netherlands 🇳🇱: BP said the planned restart of its oil refinery 🏭 in Rotterdam is on hold after unions refuse to return the refinery online over a pay dispute.

🔹The refinery processes 400,000 barrels of oil 🛢annually (3% of northern Europe’s refining capacity) & is a top supplier of diesel to Northern Europe. Wood Mackenzie Ltd: "stockpiles of fuel in region may slide to record lows".

🔹Unions are seeking a 9.5% pay increase + a one-time bonus, while BP has offered a 5% increase + a one-time bonus. Dutch inflation is around 15% 📈.

Last reported on this channel:

💠 European traders are rushing to fill storage tanks with Russian diesel before an EU 🇪🇺ban begins in Feb. 2023.

💠 Ireland 🇮🇪 - Diesel at its second-highest price on record.

💠 The front-month East-West swap, a measure of the premium for diesel in Europe over Asia, widened to $60.50 a ton. It averaged $7.40 a ton in 2021.

💠 Diesel ⛽️ shortages in France 🇫🇷 due to worker strikes at oil refineries.

Video courtesy The Print.

🔹Russia's 🇷🇺 FSB thwarted an attempt of sabotage & terrorist attack on the South Stream gas pipeline by Ukrainian special services. Four magnetic mines, four kilograms of 'plastic', time-explosives & communications equipment were seized.

🔹The bombing 💣 was planned in Russia's Volgograd region. The equipment also contained correspondence with a curator from Ukraine's 🇺🇦 special services, with instructions for assembling & installing an explosive device.

🔹The South Stream project was originally built for 63 bcm of gas to the Black Sea. It was cancelled by US/EU sanctions & bullying of Bulgaria 🇧🇬 resulting in the TurkStream project.

Last reported on this channel:

💠 Saboteurs attempt to blow up 🧨 Turkstream Pipeline infrastructure.

💠 President Putin proposed building a major gas hub in Türkiye 🇹🇷.

💠 Last month: Dutch 🇳🇱 authorities, enforcing EU sanctions, withdrew the export license of South Stream Transport which operates the TurkStream. They re-applied for a new license.

🔹EU 🇪🇺 nations have failed to agree on imposing a price ceiling on natural gas. Hungary 🇭🇺 is planning to seek exemptions from EU price caps on Russian 🇷🇺 gas.

🔹The European Commission wants gas prices set at 275 euros- MW/hr, to be implemented via the TTF exchange. When gas is €58 higher than the LNG 🚢 reference price for 10 consecutive trading days within the 2 weeks then the cap is triggered.

🔹Poland 🇵🇱, Spain 🇪🇸 & Greece 🇬🇷 are eager to implement the cap, but says this proposal is not realistic as it is so high that it is unlikely to ever be triggered.

Last reported on this channel.

💠 Some EU 🇪🇺 leaders are insisting that the EU impose a price cap on all natural gas imports.

💠 Norway's 🇳🇴 Equinor CEO: "Any price cap is not really solving the fundamental problems".

💠 EU 🇪🇺 plans to use joint purchasing power as leverage in gas negotiations.

💠 Hungary 🇭🇺 would not support a price cap on Russian gas.

Video: Qatar's Energy Minister says EU's price caps are hypocritical.

🔹EU🇪🇺 unable to agree a price cap on Russian oil. Poland 🇲🇨 & Estonia 🇪🇪 rejected the proposed $65 per barrel as being too soft on Moscow. Greece 🇬🇷, a big player in the oil shipping industry, doesn’t want to go below $70.

🔹🇺🇸 President Biden claims the G7 nations oil price cap is "in play". Japan 🇯🇵 confirms oil from Russia's Sakhalin 2 excluded from price cap.

🔹 Russian 🇷🇺 Deputy PM Novak warns “the surge in prices would be unpredictable,” & “it would be $300 per barrel if not more.”. Moscow will execute an oil embargo on countries supporting the G7 oil price cap.

🔹Price cap 'ridiculous in reality' due to enforcement issues & oil 🛢market players incentive to cheat.

Last reported on this channel:

💠 India 🇮🇳 have no interest in joining the US/EU oil price cap.

💠 Russia won’t sell oil 🛢 to any nation that participates in the price-cap plan

💠 Saudi Arabia's 🇸🇦 energy minister warns nations who use emergency oil reserves to manipulate prices

Video: India's Petroleum Minister

🔹Ghana 🇬🇭 ordered large gold-mining co.'s to sell 20% of the metal they refine to the nation’s central bank. Ghana is working on a new policy for gold to be used to buy oil products rather than USD.

🔹Central banks bought 399 tonnes of gold in Q3. More than quadrupling on the year. Buyers include China 🇨🇳, Turkey 🇹🇷, Uzbekistan 🇺🇿 & India 🇮🇳. The year-to-date flurry of gold buying already well surpasses any 12-month period since 1967.

🔹Burglars in Bavaria 🇩🇪 have stolen 'several million euros' worth of gold from a Celtic Roman Museum.

Recent developments:

💠China's 🇨🇳 net gold imports via Hong Kong 🇭🇰 jumped nearly 40% to an over 4-year high in August. London 🇬🇧 gold dealer BullionVault, runs out of gold bullion.

💠Russia 🇷🇺 have taken steps to “mobilise” the non-reserve gold

💠Moscow's new gold standard & plans for a new trade settlement currency to replace the dollar 💵 require enhanced gold reserves so as to support a new gold standard for cross-border trade

Video: Sean Foo

🔹Mali 🇲🇱bans French-sponsored NGOs from operating in the West African nation. The decision applies also to those receiving “material or technical support from France 🇫🇷.”. Mali accused France of arming Islamist fighters & carrying out acts of espionage against the Malian gov't.

🔹The Malian🇲🇱 gov't announced a new security cooperation agreement with Russia. Since 2021, the number of equipment granted by Russia 🇷🇺 to help the Malian army fight jihadists is ever-rising. Malian transitional authorities claim major successes in the fight against those jihadists, thanks to Moscow.

🔹Germany 🇩🇪 is pulling out its troops from Mali. The Bundeswehr's participation in the UN mission 🇺🇳 MINUSMA will be ended by May 2024. The UK 🇬🇧 recently announced it would be withdrawing its 300 'peacekeepers' from Mali, saying the country’s growing reliance on Russian mercenaries is undermining stability.

🔹India 🇮🇳, Pakistan 🇵🇰 & Bangladesh 🇧🇩 are sending an armed helicopter unit each for the UN MINUSMA.

🔹The US 🇺🇸 outbreak of avian influenza (bird flu) is now the worst on record, with 50.54 million birds culled. Supermarket egg prices are hyperinflating because a large swath of the nation's 🥚 egg-laying hens was wiped out.

🔹The 'virus' has mostly impacted turkey & egg operations, sending prices to all-time highs & contributing to soaring food inflation 📈. The outbreak began in Feb. '22 & has so far infected flocks 🐓 across 46 states.

Earlier bird flu posts on this channel:

💠 UK 🇬🇧- Supermarket customers are facing limits on how many eggs they can buy.

💠 Spain 🇪🇸 - Two poultry farm workers tested positive for bird flu, the 1st known human infections in Spain & the 2nd in Europe since 2003.

💠 Millions of chickens euthanized to prevent spread of bird flu at US & UK farms.

💠 Death of seabirds in Canada 🇨🇦 linked to bird flu.

💠 US egg 🥚prices increase due to culling of hens across US.

💠 Quebec, Canada duck-farming 🦤 operation face financial ruin due to bird flu.

🔹Anti-US protest in German 🇩🇪 city of Leipzig runs into large counter-demonstrations. The protesters demanded that the US troops and nuclear weapons still based in Germany be removed. Protesters were met by counter-demonstrators, some of whom clashed actively with the anti-American protesters.

🔹Many of the hundreds who gathered near the US 🇺🇸 consulate in the city waved banners reading “Ami go home.” “Ami” is a common term in Germany for Americans.

🔹German 🇩🇪 media labels the protestors as far-right extremists. The police were in the city were a large contingent. In counter-demonstrations, there were pyrotechnics & riots, the police said.

Last reported on this channel:

💠 Media blackout on protests against sanction policy in Berlin.

💠 German farmers 🚜 protest destructive nitrogen gov't policy.

💠 German 🇩🇪 farmers have been protesting draconian climate change policies against them in the name of curbing nitrates in groundwater.

The de-industrialisation of Germany - Part 3.

🔹CEO of the Federation of 🇩🇪 German Industries said 1 in 4 German co.'s is considering moving production to other countries. CEO of chemical industry association, warns "...the gov't is willfully accepting deindustrialization”.

Now in bankruptcy:
📌🇩🇪 Nuremberg kitchen manufacturer Kitchen Source after 40 years in business.

📌 North-Rhine Westphalia 🇩🇪 automotive wheel storage/logistics co. Carewheel GmbH.

📌The DRK (German Red Cross) in Goslar, Lower Saxony. 370,000 euros of donations for Ukraine now in bankruptcy estate.

Previous posts on this channel:

💠 German co.'s operating for over 100 years shut down amidst a surge in bankruptcies.

💠 German utility Uniper, reported a 4.8 billion euros loss & faces nationalisation.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.

🔹Taiwanese 🇹🇼 President Tsai Ing-wen has stepped down as the head of the ruling (US-backed) DPP after a party defeat in local elections. 🇹🇼 Chiang Kai-shek's great-grandson is now mayor of Taipei.

🔹In China 🇨🇳, uprisings were ongoing in Hunan Province, at (Taiwanese owned) Foxconn factory (for Apple products). Workers protested over jobs & salary issues. Apple shares are down nearly 2%.

🔹A fire in a high-rise building in Urumqi, Xinjiang, where 10 people died, allegedly due to China's 'zero-covid policy' has sparked protests further to other places in Wuhan, Shanghai & Beijing.

🔹U.S. 🇺🇸 imposes a ban on electronics created by China's Huawei & others.

🔹Market uncertainty as stocks, oil, & crypto markets are down 📉 today.

🔹Some of the signs at the protests written in Latin Pinyin 🪧 & begs questions about who is on the ground. In Shanghai, young protesters ridiculed police on their low salaries. UK's BBC journalist allegedly promoting protests using Telegram channels.

Video courtesy WION

🔹Russia 🇷🇺 and Kazakhstan 🇰🇿 are facilitating the launch of multilateral negotiations to develop an international convention to combat biological terrorism.

🔹Russia is redirecting its exports and imports to new markets against the backdrop of an international trade crisis, Russian 🇷🇺 President Vladimir Putin said at a forum of interregional cooperation with Kazakhstan. Kazakhstan 🇰🇿 will prioritize cooperation with its close neighbors, including Russia and China 🇨🇳. They would continue to work with the US, EU, Middle Eastern nations.

🔹Russia 🇷🇺 and Kazakhstan 🇰🇿 want convention on Caspian Sea legal status to enter into force soon. This is stated in the declaration adopted by the Presidents of the two countries, Vladimir Putin and Kassym-Jomart Tokayev. Kazakhstan wants to handle greater volumes of cargo moving between Russia and Iran🇮🇷 , an increasingly important trade route.

🔹The Dutch 🇳🇱 government plans to buy and close down up to 3,000 farms near environmentally sensitive areas to comply with EU 🇪🇺nature preservation rules.

🔹The Netherlands is attempting to cut down its nitrogen pollution & will push ahead with compulsory purchases if not enough farms 🚜 take up the offer voluntarily. They are looking at taxing nitrogen emissions to encourage more 'sustainable' practices.

🔹 The Netherlands is the world’s 2nd largest agricultural exporter, after the U.S.

Last reported on this channel:

💠 🇳🇱 Farmers Defence Force, representing 8 agro-organisations, (95% of the industry), locked out of the 1st round of negotiations.

💠 Protests 🔥 previously erupted over the gov't's draconian nitrogen oxides curbing plan.

💠 Gov't policy will result in the destruction of meat/diary farming 🐂 🐄 in The Netherlands.

💠 Dutch 🚜 farmers have been resilient in not backing down.

💠 Netherlands 🇳🇱 plan to implement CO2 emission social credit scheme.

Video courtesy Big Picture.

🔹Moldova 🇲🇩 - Protesters call for the resignation of the president & the gov't yesterday (Nov 28). Police detained 26 people who behaved 'suspiciously'. Protestors called for criminal investigation against gov't officials involved in mass corruption & abuse of office.

Previous posts on this channel:

💠 Nov 13th, 60,000 protestors marched through Chisinau, escorted by retired military & veterans.

💠 Oct. 30th, Stand-offs between Moldovans & police grow violent amid protests over inflated 📈 prices for gas, electricity, water & other utilities.

💠 Oct. 23rd, police 🚓 brutalities continued amid a breakout of protests in Moldova. 🇲🇩

💠 Oct. 16th, 50,000 protestors gathered across Chisinau🇲🇩, the capital of Moldova. Weekend before 60,000 protested.

💠 Thousands protest high energy prices during September in Chisinau. State-backed gas distributor Moldovagaz failed to fulfil wholesale payments to its sole gas supplier, Russia's 🇷🇺 Gazprom.

🔹The Eurasian Economic Union (EAEU) 🇷🇺 🇦🇲 🇰🇿 🇰🇬 🇧🇾 is interested in setting up a common payment system with BRICS nations. Plans include a single payment card that unites the national payment systems including Russia’s Mir, China’s Union Pay, India’s RuPay, Brasil’s Elo & others.

🔹Vladimir Kovalev, EAEU Advisor, said "The global financial system is changing, there is a need to create a new reserve currency & a settlement currency". "Taking into account the structure of trade relations between the BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 & the EAEU, the use of national currencies in mutual settlements is most justified".

Last reported on this channel:

💠Russia’s 🇷🇺 Minister of Economy, urges EAEU towards formation of an alternative system of international settlements

💠 "Interested SCO member states" 🇷🇺🇨🇳🇮🇷🇮🇳🇵🇰🇰🇬🇰🇿🇹🇯🇺🇿 agreed a "roadmap for the gradual increase in the share of national currencies in mutual settlements", outside western currencies/payment systems

Video courtesy Left Lens.

🔹Moscow 🇷🇺 & Beijing 🇨🇳 are developing a system of settlements to allow cross-border transactions without using SWIFT. This could transform the ruble & yuan into world reserve currencies.

🔹Russia 🇷🇺 is now the 4th largest user of the yuan, after Hong Kong, UK, & Singapore. Yuan's share of Russian FX up from 1% to 45% 📈. Russian brokerages reported that their clients were keeping an increasingly large part of their assets in 🇨🇳 yuan.

Last reported on this channel:

💠 China 🇨🇳 signed a 27-year landmark $60 billion agreement for purchases of LNG from Qatar 🇶🇦.

💠 Payments for supplies of petroleum products are being proactively shifted to national currencies🇷🇺🇨🇳.

💠 Russian 🇷🇺bank, VTB launches money transfers to China in yuan, bypassing SWIFT.

💠 Gazprom move payments for gas exports to China 🇨🇳 away from USD/Euros.

💠 Ruble-yuan 📈 trade up 1067% in Q2 of 2022.

💠 Russia 🇷🇺 added grain & sunflower oil to the list of exports that must be paid for in rubles.

Video: Sean Foo

🔹Russia 🇷🇺 is discussing a possible “gas union” with Kazakhstan 🇰🇿 & Uzbekistan 🇺🇿 to support shipments between the 3 countries & to other energy buyers, including China 🇨🇳.

🔹Kazakhstan 🇰🇿 & Uzbekistan 🇺🇿 have rapidly developing economies, with a growing domestic demand for gas. “Russia, Kazakhstan & Uzbekistan have effectively had a single gas transportation system ever since the Soviet times.

🔹The 3 countries are connected by the Central Asia – Center gas pipeline system controlled by Gazprom. It runs from Turkmenistan via Uzbekistan & Kazakhstan to Russia. A separate pipeline, Central Asia – China, crosses both Uzbekistan & Kazakhstan on its way from Turkmenistan 🇹🇲 to China 🇨🇳.

🔹Imports of Russian 🇷🇺 liquefied natural gas 🚢 to the EU 🇪🇺 have increased by 42% (17.8 bcm) between the months of Jan & Oct 2022 mainly to Belgium, France, Spain, & the Netherlands. The EU's share in Russian LNG however lowered by 16% in 2022 as a result of also a 42% increase of US LNG imports.

🔹EU 🇪🇺, moves closer to confiscation of Russia's 🇷🇺 assets, frozen in western jurisdictions. EU says, one short-term option is to create a fund to manage & invest liquid assets belonging to Russia's Central Bank. This way they are technically not taking the assets, just the proceeds from investing it.

🔹The EU failed to tell Europeans that, seizing frozen assets is only legally possible where there is a criminal conviction. The EU 🇪🇺 decision to recognize Russia as a state supporting terrorism is the first step towards making a 'legal' case for confiscation.

🔹Assets of blacklisted Russian 🇷🇺 citizens are also difficult to seize as they are registered as belonging to family members or trustees.

🔹The EU 🇪🇺 has undermined ‘Lex Mercatoria’ (Latin – ‘Merchant Law’). The autonomous legal order of international economic relations for trade & rules for settling disputes. The west has now destroyed, how money & currencies function in relationship to trade & private property rights.

🔹Dutch 🇳🇱 farmers protest gov't imposed nitrogen rules that are destroying farmers livelihood. Yesterday (Dec. 1st) clashes with police & arrests occurred in the province of Overijssel in Zwolle. (Protest videos in the comments)

🔹The Dutch gov't has warned farmers 🚜 “there is no better offer coming” but to sell off their farms to the state or adopt stringent nitrogen rules. Farmers claim these rules will destroy the industry.

Last reported on this channel:

💠 The Dutch 🇳🇱 gov't plans to buy & close down, up to 3,000 farms near environmentally sensitive areas.

💠 🇳🇱 Farmers Defence Force, representing 8 agro-organisations, (95% of the industry), locked out of the 1st round of negotiations.

💠 Protests 🔥 previously erupted over the gov't's draconian nitrogen oxides curbing plan.

💠 Gov't policy will result in the destruction of meat/diary farming 🐂 🐄 in The Netherlands.

💠 Dutch 🚜 farmers have been resilient in not backing down.

💠 Netherlands 🇳🇱 plan to implement CO2 emission social credit scheme.

🔹India's 🇮🇳 finished steel imports from Russia hit 4-year high in April-October, up 400%. Indian steelmakers 🏭 have so far imported record 5-6 million tonnes of Russian coking coal in 2022/23, compared with less than 2 million tonnes last year.

🔹India 🇮🇳 scrapped export taxes on low-grade iron ore & on some intermediate steel products after months of complaints from miners & steel makers about loss of foreign sales opportunities.

🔹Russia's 🇷🇺 Severstal Steel Co. faces $400 million in losses due to western sanctions imposed on their international accounts & warehouses.

🔹Lower inventory levels at Chinese 🇨🇳 ports suggest that China, which buys about 70% of global seaborne iron ore, has scope to lift imports in coming months.

🔹🇦🇺 Rio Tinto (world’s largest iron-ore producer) expects iron-ore shipments from its Australian mines to be steady in 2023.

🔹Recently, we reported that multiple steel plants shut down or are idled across Europe 🇪🇺 due to high energy & natural gas prices.

🔹"December's Eurostat Report for Oct. 2022".

Industrial producer prices up by 30.8 % in the euro area & by 31.2% in the EU 🇪🇺compared with October 2021.

🔹The highest monthly increases 📈 in industrial producer prices were recorded in Greece 🇬🇷 (+9.6%), Hungary 🇭🇺 (+6.2%) and Belgium 🇧🇪 (+2.8%).

🔹Industrial producer prices in the euro area (EA-19 💶) & EU (EU-27🇪🇺) respectively in October '22, y/y, increased by:

📌Energy Sector - 65.8% & 67.0%,

📌Intermediate Goods - 17.4% & 17.6%,

📌Non-durable Consumer Goods - 16.0% & 17.1%,

📌Durable Consumer Goods - 9.8% & 10.0%,

📌Capital Goods - 7.5% & 7.7%.

🔹However, when October '22 is compared to September '22, industrial producer prices are down 📉, by 2.9% in the euro-area & by 2.5% in the EU.