Armstrong Economics Blog/European Union Re-Posted May 12, 2022 by Martin Armstrong
The sanction imposed on Russia is an economic version of a nuclear war spearheaded by the United States without any consideration whatsoever. The United States was energy self-sufficient under Trump. Biden has taken every step to end fossil fuels and has had the audacity to turn to OPEC to ask for more supply while he denies American those very jobs. But Europe has no self-sufficient energy. This hair-brain idea that they can punish Russia for invading Ukraine was deliberately created by the West & Zelensky and is now tearing the EU apart.
As always, the West simply thought they needed to conquer Russia and then China to push this Great Reset with the United Nations in charge of the world because no single nation can tackle climate change alone. They never anticipated that shutting down fossil fuels before there was any viable alternative would lead to political chaos. The euro will be in serious trouble post-2024 and may even collapse as a viable reserve currency in the world. The euro was doomed when they refused to consolidate the national debts and become one real government because they simply never trusted each other.