2.8 • 690 Ratings
🗓️ 1 February 2023
⏱️ 60 minutes
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0:00.0 | Next, on Making Sense of the Madness, tech layoffs continue, but the stock market is going up. |
0:05.8 | Dr. Kirk Elliott reports on that, and Gene Ho will join us to tell us the latest about George Magazine |
0:10.8 | and a pastor in Canada stands up to tyranny. |
0:13.5 | We're going to question the mainstream narrative and exposed media propaganda right now. Well, Dr. Kirk-E Elliott is a PhD economist and founder of Kirk Elliott Private Advisers. |
0:43.3 | Kirk, so great to have you back here. |
0:45.3 | You're always following the latest with these finance and G politics stories. |
0:48.3 | I wanted to see if you saw this one on zero hedge, that Germany is now paying 40% more now for energy than when they had the cheap Russian gas. |
0:57.5 | I mean, it's just unbelievable. They have basically, according to Zoltan Polzar, |
1:04.7 | two trillion of German value depends on $20 billion of Russian gas. They basically had 100x leverage |
1:10.2 | more than Lehman Brothers on cheap |
1:12.4 | commodities. And now they don't have that anymore. That could be disastrous in the foreseeable |
1:17.3 | future. Any comments on Germany, how that plays a role in the European economy and the global |
1:22.4 | economy? Well, global economy, European economy, all economies, because Germany is such a huge manufacturer. |
1:30.9 | I mean, look at just the cars that they produce, you know, Mercedes, Porsche, BMW, right? |
1:34.9 | And everything else that comes out of Germany. |
1:37.3 | Germany is the economic engine of Europe, right? |
1:40.7 | So, but it's only going to get worse. |
1:43.6 | So they're paying 40% more for gas. |
1:46.0 | That's going to cost cost of manufacturing to go up. Every export that they send out is going |
1:50.7 | to be more expensive. But starting February 1st, Putin is going to actually stop selling oil |
1:58.2 | and gas to the G7 nations that signed the accord that kept their oil at $60 a barrel. |
2:05.4 | It's like, of course Putin's going to do that when oil is 79. It's like, why would you sell it for a $19 |
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