Den tyske finansministern Christian Lindner höll i ett brandtal den 6 september mot spekulationen där han pekade på att “elmarknaden är en politiskt konstruerad autopilot för vinster”. Han vände sig mot elprissättningsystemet att det högsta priset bestämmer marknadens elpris, vilket gör att den som med spekulation får upp elpriset, själv kan öka sin vinst. Han vände sig dock endast mot elbörsen i Leipzig i Tyskland.
Den främsta källa källan till elprishöjningarna i hela Europa är den enorma inflationen på gaspriserna på den högspekulativa gasbörsen TTF i Amsterdam, som fastställer gaspriset för EU baserat på en fullständigt spekulativ efterfrågan från finansiella handlare. Bl.a. företagarföreningen i Katalonien (Foment de Traball) vill ”helt eliminera TTF som ett referenssystem för att bestämma gaspriserna på de europeiska marknaderna”. Detta är nu en EU-fråga på högsta nivå sedan Tjeckien som ordförandeland i EU lagt fram detta förslag inför mötet med EU-ledarna den 9 september. Det avvisades av en majoritet ledd av Nederländerna och Tyskland.
Schillerinstitutet i Sverige pekar på att stängningen av Amsterdams gasbörs TTF är en huvudfråga inför det svenska ordförandeskapet i EU. Trots Tjeckiens initiativ på EU:s toppnivå har inget sagts från svenska regeringen eller riksdagspartierna om detta avgörande förslag att minska elpriserna. SVT:s program Agenda och SR:s ekot skjuter i sina specialreportage om elkrisen endast fram en rapport från Elforsk om att befolkningen och företagen skall spara på elen, samtidigt som en derivatspekulation med gas eller el kan tillföra en helt konstgjord nominell efterfrågan i enorma mängder.
Av Ulf Sandmark,
Schillerinstitutet i Sverige
Se även https://schillerinstitutet.se/staten-skall-inte-garantera-spekulation-i-elpriser-eller-i-bankerna-fore-allt-annat/
Spekulanter driver upp bränslepriserna! Stäng Amsterdam gasbörs genast!
Allt fler européer har blivit medvetna om att källan till den enorma inflationen på gaspriserna är den högspekulativa gasbörsen i Amsterdam TTF, som lägger fast gaspriset för EU baserat på en fullständigt spekulativ efterfrågan från finansiella handlare. De spekulationsdrivna astronomiskt höga gaspriserna driver upp elpriserna i hela Europa till de fantasipriser vi har idag. Den svenska elmarknaden importera dessa priser när elhandlarna i Sverige kan sälja till kontinenten och då kan få ut samma priser i Sverige. Det är detta som drabbat den södra svenska elområden 3 och 4 särskilt hårt.
Detta är ett perverst resultat av den heliga nyliberala ordningen som våra makthavare i regering och riksdag helt underkastat sig och därför offrar folkets levnadsstandard och överlevnadsmöjligheter. Ingen av riksdagspartierna har vågat nämna att det penningdrivna handlare som driver upp elpriserna. Istället har Magdalena Andersson skyllt på Putin och Ukrainakriget. Åtgärderna har från de flesta riksdagspartierna gått ut på att subventionera de höga elpriserna med bidrag eller skattesänkningar på el och bränsle vilket i slutändan innebär att staten hjälper till att betala spekulanternas höga priser och fylla deras fickor.
Endast Vänsterpartiet har kommit närheten av en lösning med sina Sverigepriser på el där kontinentens höga elpriser utestängs från den svenska marknaden. Men nu höjs röster i EU för från bl.a. företagarföreningen i Katalonien (Foment de Traball) att ”helt eliminera TTF som ett referenssystem för att bestämma gaspriserna på de europeiska marknaderna”. Även Tjeckien försökte som ordförandeland i EU ta med detta förslag när EU-ledarna den 9 september diskuterade förslaget om att ta bort gasprisets inverkan på elpriserna.
Dessa uppror i Europa gör att en generalattack mot spekulanternas och nyliberalismens effekt på elpriserna blir en central fråga i de eluppror som pågår i landet som går emot globalisternas och Davosgängets politik att ta livet av oss samtidigt som de försöker rädda sina finanssystem med en gigantisk plundring av folk och företag i hela världen.
En stängning av Amsterdams gasbörs TTF måste genast sättas på dagordningen för det svenska EU-samarbetet av alla svenska partier!
Se vidare på engelska I denna notis från Executive Intelligence Review Strategic Alert
Shut Down Speculation on Amsterdam’s Gas Exchange!
A growing portion of public opinion has been made aware of the fact that the root of the gas price inflation is the highly speculative TTF (Title Transfer Facility) market, which sets the prices of gas for the EU on the basis of a totally fictitious demand driven by financial traders. Calls for regulating or shutting down the TTF for good have come from several quarters. Among others, the Catalan Employers Association (Foment del Traball), has called for “eliminating the TTF as a reference system for setting the price of natural gas in European markets”, while the Czech government, the current EU rotating chairman, had included it in a set of proposals to be discussed at the Sept. 9 meeting. It was rejected, given the opposition by some EU member countries, led by the Netherlands and Germany.
As for Germany, Finance Minister Christian Lindner gave a roaring speech against energy speculation before the press, after the Sept. 6 cabinet meeting. “We have speculation on the electricity markets, and we have rules on the electricity markets that have established a kind of politically made yield autopilot,” he said. This yield autopilot must now be switched off, Lindner said.
With “politically made yield autopilot,” Lindner is referring to the mechanism by which the price of electricity is determined by the seller at the highest price. This mechanism was devised in order to subsidize so-called “renewables”, which originally supplied the most expensive electricity due to the high costs. As gas prices started to rise last year, gas-produced electricity suddenly became the most expensive and determined electricity prices, which have now climbed to astronomical levels as a result.
While many were positively surprised by his belated but important awakening, Lindner’s call for action is a diversion. In fact, it concerns only the European Energy Exchange, the Leipzig-based electricity market, but not the more important Amsterdam-based TTF.
While it is important for Germany to throw its weight behind the proposal to decouple electricity prices from gas prices, thus joining many other countries, EU member countries must have the courage to address the real taboo – elimination of the TTF. It would suffice to have one EU government raise its voice, accompanying the demand with the threat to leave the euro. The choice is between the wellbeing of European citizens and the wealth of the Davos billionaires.
Dokumentation på engelska:
Shut Down the Title Transfer Facility to Bring Energy Prices under Control
So far, very few sources, other than this newsletter, have exposed the real mechanism of energy price inflation: the gambling casino called the Title Transfer Facility, also known as the gas exchange market in Amsterdam (cf. SAS 27/22). European governments have kept a mafia-like omertà on the issue, only addressing secondary aspects of it, when discussing energy costs.
A crack in the silence, however, was opened by the Italian daily Il Fatto Quotidiano, considered by many to be the house organ of the Five Stars party, in an Aug. 10 article by journalist Andrea di Stefano, otherwise an anti-hydrocarbons activist.
Di Stefano wrote: “The TTF is a legalized gambling den where a very few operators … determine the fate of millions of companies and hundreds of millions of European citizens. By all observers’ own admission, the Amsterdam market is highly volatile, that is, extremely sensitive to price fluctuations, and scarcely liquid. Suffice it to consider that altogether the forward contracts that are traded can be worth about 250 million MW-hours per month, i.e., only the average value of real consumption in the entire EU, while normally a forward hedging system is a few multiples of the underlying product (e.g., oil).” (In other words, very few players are involved.)
“The first speculative jump in prices occurred after the end of the pandemic, precisely as a result of the bearish positions of large traders (Trafigura, Gunvor and Glencore, first and foremost): when the recovery became clear, prices moved upward and, therefore, they were forced to close deals by buying back gas contracts. This fueled demand for the futures securities that had been sold short earlier, driving the price up further. The episode provoked heavy protests from different categories of operators, from network operators to some big players such as Shell, without the European Commission or other authorities intervening in any way or investigating the dynamics that produced the price distortion. On the other hand, in the current phase characterized by a war economy, there are those in the market who are undoubtedly gaining (a lot) from the enormous volatility of the TTF: in addition to the usual known [energy traders and major companies, such as ENI or BP], also countries such as Norway as in the past days, ICIS, the most important information and analysis site on commodities, highlighted that the Nordic country has become the first supplier in Europe, with 25% of the market, followed by U.S. liquefied gas and in third position, by Russian gas.”
The article stops short of suggesting the easiest way to stop the gambling casino: applying the principles of the Glass-Steagall Act to the TTF. That would force all long positions to close, regardless of the losses incurred by traders; and withdraw the licenses of non-commercial traders. This would deflate the artificial demand for energy, bringing it more in phase with real demand, and automatically reduce the price.
EU Commission Devoted to Markets First, People Come After
Oct. 19 (EIRNS)—Speaking after her colleague EU Energy Commissioner Kadri Simson in Brussels yesterday, EU Commissioner Financial Services, Financial Stability and Capital Markets Union Mairead McGuinness made clear that bailing out hedge funds and banks has priority over controlling gas prices. She presented a plan for regulating the TTF future market (sometime in the future) and for refunding utilities facing margin calls (immediately).
“We’re proposing a temporary measure as part of the emergency instrument: a so-called “intra-day price spike collar,” McGuinness said. “Now what this is about smoothing out is smoothing excessive volatility and price spikes in gas and electricity derivative markets.
“It is a price collar that limits extreme changes in a short period of time.
“And in that sense, it is not intended to prevent prices from moving upwards or indeed downwards, but rather to ensure that these movements are more incremental than what we observed at some times over the past months.
EU trading venues for energy derivatives will have to put such a tool in place by the end of January, under the control of national and European regulators.
“But in the interim period, we will be asking EU trading venues to set up intraday volatility tools that would broadly achieve the same result.”
McGuinness then addressed the issue of liquidity for the energy market (i.e., bailing out utilities, hedge funds and banks):
“We know some energy market participants have experienced pressures on liquidity because of higher margin calls linked to rising energy prices. Usually collateral is provided in the form of cash. Today we are adopting a delegated act that expands the list of what these companies can use as collateral. We are doing this on a temporary basis. Energy firms will be allowed to use uncollateralized bank guarantees.”
Finally, the cherry on the cake: Margin requirements for over-the-counter (OTC) derivatives will be lowered. In other words, they will combat speculation by making it easier to speculate:
“The third measure is also related to energy derivatives markets. And this is an amendment to another delegated act for energy firms using OTCs—over the counter—derivatives. We are raising the clearing threshold from €3 billion today to €4 billion. And below this €4 billion threshold, firms using over-the-counter derivatives will not have to provide margins for the bilateral trades. And again, this is in line with ESMA’s recommendations, reflecting the sharp price rises in energy derivatives.”
Russia Is Moving To Set New International Producer Prices for Commodities, Including Gold
Sept. 1, 2022 (EIRNS)—The government of Russia, with consultation and encouragement from bodies of the BRICS and of the Eurasian Economic Union (EAEC), is continuing the work of establishing new, non-speculative, and stable international producer prices for the most important commodities, including gold. As productive companies in Europe are being forced to reduce activity or shut down by the NATO central banks’ wild and hyperinflationary monetary policies, and by sanctions that were intended to shut down Russian production, stable commodity prices and currency exchange rates are essential goals for a new international monetary and credit system.
In July the Central Bank of the Russian Federation published two new commodity standards. The first was an international wheat standard, defined as the price (in rubles as a basis) of a metric ton of wheat delivered to the Russian Black Sea port of Novorossysk for export shipment. The second standard was a metric ton of coal under the same conditions. Russian ministries simultaneously set export tax levels lower per metric ton, and payable in rubles. Since early July the international price of wheat in dollars has been relatively stable between $8 and $9/bushel; with the ruble appreciating by about 6% against the dollar during that time, the wheat price in rubles has been relatively more stable, varying within a range of 5%. But these new international commodity prices in rubles are thus far aspirational, steps toward stable, long-term producer prices for the most important commodities—in which the BRICS nations, and the EAEU nations, are dominant producers.
Now it is reported that, since early July, Russian and EAEU senior officials have been discussing a new international precious metals exchange where the price of gold could be fixed. This would be essential to any new credit and monetary system in which one of the BRICS national currencies—or, in Russian President Putin’s reported idea, a new international trade settlement currency—would have a fixed value relative to gold or a “commodity basket” including gold.
A gold trader named Ronan Manly wrote, on goldseek.com Aug. 31, an extremely detailed account taken from three Russian news sources, of this plan, its submission to the Russian Finance Ministry by the EAEC of the Eurasian Economic Union (EAEU), and the Finance Ministry’s forwarding of the plan to various Russian industrial companies, evidently for responses. https://goldseek.com/article/eurasian-alliance-plans-moscow-world-standard-destroy-lbmas-monopoly-precious-metals
Even more so than with energy and food commodities, this plan is one for battle, because the UK and United States Treasuries and monetary authorities are determined to ban Russian miners and refiners from the London Bullion Markets Association (they have already done that) and to ban the sale of Russian-produced gold anywhere in the world. Manly quotes both Sergei Glazyev of the EAEC and Russian National Security Council advisor Sergei Silvestrov on the intention to create a price standard of what Silvestrov calls [trade] “settlement gold”—involving a basket of commodities as well.
There is reported other, useful action by the Central Bank of the Russian Federation toward stable currency-exchange ratios between the ruble and other major currencies. [pbg]
Ett svenskt krisprogram mot höga priser på mat och bränsle
Ett krisprogram måste börja med att stoppa Natos krigspolitik och de sanktioner mot Ryssland som nu slår tillbaka på oss själva och krossar oss. Dagens räntehöjningar, pengaregn över banker och konsumenter löser inte energiproblemen eller de kostnadsdrivande flaskhalsarna i produktion och transport. Bidrag hjälper konsumenter mycket kortsiktigt men det göder främst spekulanter som drivit upp priserna.
Främst behövs ett nytt paradigm för fred och ekonomisk utveckling. Omedelbara ingripanden mot spekulationsmarknaderna och införande av reglerade fasta nationella el- och bränslepriser och införande av LaRouches fyra lagar för en produktionsinriktad finansreform:
- Omedelbara ingripanden mot finansmarknaden med bankdelning för att häva svenska statens garanti till den spekulationsinriktade värdepappershandeln.
- Omedelbart upprättande vid Riksgälden av en svensk utvecklingsbank för upprustning och utveckling av den fysiska infrastrukturen, produktionen och bostadsbyggande,
3a. Omedelbar omläggning av Riksbankens riktade riksbankslån till gröna obligationer till Svenska utvecklingsbanken vid Riksgälden.
3b. Omedelbart stopp för Riksbankens program för kvantitativa lättnader för banker.
- Statlig satsning på rymdteknik, fusionskraft och andra teknologidrivande spjutspetsområden.
I Tyskland låter det så här: German Open Letter to Scholz: Stop Arms Deliveries, Restore Relations to Russia
Aug. 16, 2022 (EIRNS)—In an open letter to Chancellor Olaf Scholz, a collection of utilities, housing associations, and other municipal enterprises of southern Saxony (in particular, the Vogtland region) call for a de-escalation of the anti-Russia campaign, an end to sanctions on Russia, and an end to arms deliveries to Ukraine. The restoration of diplomatic relations to Russia has priority, whereas prolonging the war, they warn, will lead to more destruction and misery. Otherwise, the signers both endorse keeping coal and nuclear power and call for increased efforts to develop renewables for power sources
North German Businessmen Call for Russian Gas and Nord Stream 2
Aug. 16, 2022 (EIRNS)—Entrepreneurs in Germany’s northern state of Mecklenburg-Prepomerania called for Russian natural gas delivered via Nord Stream 2, and ridiculed currently planned experiments with LNG terminals. The head of the state’s Business Association, Gerd Juergens, declared in an interview with the Nordkurier:
“We want to import liquefied gas to Germany by ship and we don’t even know what it will cost. There is no price comparison, no competition that would prevent prices from rising and rising. Especially since there is a much better option.” According to Jürgens, the completed Nord Stream 2 pipeline should go into operation after all: “On our board, all the members I’ve asked about this so far have clearly spoken in favor of it, too.”
A Hot Autumn of mass protests is coming in Germany
In addition to resurging farmers protests, unrest among mittelstand and crafts, and other protests against the onrushing inflation, there is also momentum to revitalize the economic protest wave of the 2004 Monday Rallies against government plans for cuts in welfare and unemployment pay. This will start coming Monday, in many cities of Germany.
Anticipating broad protests, the government, perfectly aware of what its own policies provoke, is trying to criminalize the protests beforehand.The Irony is that whereas the establishment usually never mentions the original Monday Rallies of 1989, they do so now, in order to declare these were justified against the East German dictatorship, while such protest was not justified against the „democratic system“ of present Germany. The government and related security officials warn of „extremists trying to hijack the protests“, from the left to the right of German politics.
Farmers Shift Battle Maneuvers: Aug. 26 Berlin Demo Off, National Rally in Bonn Aug. 31;
Aug. 17, 2022 (EIRNS)—The situation in Europe continues very hot among farmers leading protests against the EU and national governments’ orders to curb farming, and cut food production, in the name of greening the environment. The fact that farmers are doing this in the peak season for summer crops, calving, haymaking, and other functions, shows how extreme the crisis is.
The Aug. 26 farm demonstration German farmers set for Berlin has been cancelled for that date, and word will be given for what happens there next. German farmers plan a national demonstration on Aug. 31, in Bonn, following a big action Aug. 15 in Bonn, at which time they announced “they will be back.” The Aug. 15 action began with a 400-tractor convoy into the city at dawn, which surrounded the Federal Ministry of Agriculture, which is still based in Bonn.
Bondeupprop från både Europa och USA
Take the Point: Support the German Farmers!
Aug. 16, 2022 (EIRNS)—The following statement was issued this month by participants in a farm and ranch leaders (virtual) meeting from four countries, as an initiative to crossfire international support.
We stand together with the German farmers in their plans for a national demonstration in Berlin Aug. 26. (OBS! This demo has been rescheduled to another date.) They are on the front lines, alongside the Dutch and Flemish farmers, in protesting to stop the dictates that will shut down farms, and cause mass food shortages, ordered by their governments, and by the European Union in Brussels. The Berlin protest is designed as a “365” day action, to continue until the destructive policies are stopped.
Dutch farmers face mandates to cut livestock by as much as 30%. The excuse for this is to reduce emissions and run-off of nitrous oxide and ammonia. German farmers face mandates to drastically cut use of fertilizer, pesticides and cropland itself. Similar mandates are coming down in the Americas, and other targeted agriculture regions. The year 2030, and earlier are the deadlines.
The originators of these deadly mandates operate through an international constellation of globally powerful, private banks, NGOs, transnational corporations, and captive government offices. They must be stopped. They know full well their directives mean depopulation.
We must expand, not cut, food production. We have a world food shortage emergency. Over 800 million people go hungry, and millions of them are headed to death by starvation. These numbers could double in a year. The world grains harvest is going down.
Our support for the German and Dutch farmers is a call to action among our fellow citizens, in whichever country we may be, to restore national sovereignty, and stop the destructive dictates and the trans-national finance and cartel powers behind them.
We need sovereign government action, and collaboration among nations, to expand independent food producers everywhere, and mobilize emergency and long- term measures to vastly increase food production. We need mutual-interest trade and foreign relations, and cancellation of economic sanctions. Use anti-trust to bust up the monopolies. Re-regulate banking on the Glass-Steagall principle. Build infrastructure (water, power, public health, transport) to protect from drought, floods, and all disasters.
Food is not a “farmer’s issue.” We call on people from all walks of life to join with us, in supporting the Berlin Aug. 26 farmers’ demonstration and beyond.
Support the German Farmers! No Cuts to Farming Anywhere! The Hungry Shall Be Fed!
Aug. 16, 2022 (EIRNS)—The following statement is circulating internationally to publicize and organize broad support for the farmers’ frontline protests. It appears in the EIR weekly (Aug. 19, 2022) by Robert L. Baker.
German farmers will launch a demonstration in Berlin, August 26, continuing it as a “365” non-stop action, until the goal is met to end the policies now ruining farming, and cutting food production. This backs the protest initiatives of the Dutch farmers, and others taking actions in Italy, Spain, Ireland, Poland, Chile, Canada, and elsewhere, including the U.S. cattlemen, fighting in the courts and legislatures. India’s farmers have led the way. The particulars differ from place to place, but it’s the same battle.
A constellation of international financial, environmentalist and corporate interests have set in motion a worldwide policy to reduce food production and eliminate family farming. The farmers and ranchers are defending food production to save humanity. That’s why people in all walks of life must wake up and support them.
The world is in a food emergency of Biblical proportions. Over 800 million people are hungry, and millions of those are heading to starvation. Within a year, these numbers could double.
The knowhow exists to end this crisis. We must expand the number of family farms, not shut them down. But farmers and ranchers are under attack.
Attacks on Farming
Drastic cuts to agriculture inputs and practices are underway under the excuse of preventing global warming. Within the framework of the Green Deal, in May 2020, the European Union launched the “Farm-to-Fork Strategy” ordering a 20% cut in fertilizer use, a 10% cut in land used in agriculture, a 50% cut in crop protection chemicals and microbials for livestock, etc. This will ruin farmers and cut food for millions. But compliance is ordered by 2030, with earlier deadlines set. The governments in the Netherlands, Germany, and some others among the 27 EU nations have dictated even more severe cuts. Dutch farmers are being told to get rid of 30% of their cattle, to prevent nitrogenous and carbon run-off and emissions. In the Americas, Ottawa has ordered Canadian farmers to cut fertilizer. In the U.S., 30% of land and water is to be locked out of agriculture use by 2030.
Global cartels continue to dominate markets and pricing within nations, and enforce trade patterns between nations, to the detriment of all farmers and populations involved. One nation is forced to be an “export source” region. Another nation is forced to be import dependent. The cartel tyranny works through the transnational agro-inputs suppliers, to the processors, shippers, and food retailers. These globalist interests—the commodities wing of Wall Street and the City of London—are interlocked entirely with the mega-banks pushing “Green Finance,” and with the network of the World Wildlife Fund and related circles using “concern for nature” to shut down production and cause human depopulation.
Hyperinflation and shortages of agriculture inputs are at the point of breakdown. The out-of-control prices of fuels, fertilizer, electricity, chemicals, and other farming inputs, along with worsening scarcity of supply, and collapse of logistics, guarantees famine. But neither remedies nor multi-national collaboration for solutions are yet coming from the government/financial centers of the trans-Atlantic and Group of Seven (G7) nations. Instead, they are imposing economic sanctions, continuing with mega-bank bail-outs, hiking interest rates, and refusing to cooperate with other nations and groupings seeking to expand food output, e.g., the African Union, or the BRICS—Brazil, Russia, India, China, South Africa.
Take Emergency Action
The sources of today’s attacks on agriculture have also prevented the construction of the large-scale infrastructure projects for water and power that would defend against predictable weather extremes—drought, floods, heatwaves, storms.
For all these reasons, world food output is now falling dangerously. World “total grains”—the staff of life (wheat, rice, corn/maize, and others) is going down by millions of tons. Instead of a world harvest of over 4 billion tons of grain, we now produce less than 3 billion tons a year, and it is dropping. For 8 billion people, we need to double world food production.
The basic steps to take include: 1) mobilize to maximize inputs for the coming crop seasons in all farmbelts possible; 2) provide the aid needed to maintain and expand livestock; 3) suspend and/or cancel all green orders to restrict and cut agriculture; 4) override food cartel practices wherever they are detrimental to the national interests involved; unwind and prevent trans-national monopoly farming, and start priority anti-trust action; 5) stop the run-away food speculation on the Chicago, London and other commodity exchanges; 6) take measures to stabilize prices received and paid by the farmer, on the parity principle; 7) take measures to back young families starting up, toward a million new family farms in the United States alone; 8) re-regulate banking on the Glass-Steagall principle, to restore sound banking, with no more bail-outs to the mega-banks; 9) direct credit into the overdue infrastructure projects (water, rail, power) on every continent, to support existing and vast new farmbelts; 10) back collaboration on these priorities among major nations—especially including Russia, China, and India—and in the immediate term, work together to deliver emergency food aid to all points of need.
The Hungry Shall Be Fed
Food is not a “farmer’s issue.” The German farmers’ initiative in Berlin this month, is taking the point for action we need worldwide for people to restore sovereignty to their respective nations and put in place policies in the common interest of all peoples, starting with food.
Let nations work together to come up with a new world economic framework, of mutual benefit. More farmers and ranchers, and more food!
Farmers and ranchers of the world joining together is the powerful moral force that can bring the world back on track. Stand alongside the German farmers in Berlin!